Spencer Salisbury

Spencer Salisbury was an Independence businessman whose friendship with Harry S. Truman drew them into a series of financial ventures and then into lasting conflict. Described as a lively, capable operator, Salisbury became associated with failed business schemes, Truman’s eventual effort to have federal investigators examine his activities, and a later false accusation that Truman had joined the Ku Klux Klan.

Background and Reputation

Salisbury belonged to an old, well-to-do Independence family and was one of Truman’s fellow veterans of the Argonne. He was tall and spare, talkative and lively, and reputed to be smart, though some considered him slick. Those closest to him knew him by the nickname “Snake-eye”; his sister remembered him as cold in manner. The book presents these contrasting impressions as part of Salisbury’s reputation among people who knew him, rather than as a formal judgment of his character.

Business Ventures with Truman

After Truman’s haberdashery failed, he remained active and moved from one undertaking to another. One was the Citizens Security bank in Englewood, which Truman, Salisbury, Colonel Stayton, and other partners took over while it was already in precarious condition. They soon discovered that they had been misled about its assets. They reported what they found and sold their interest to new management as quickly as they could; none of the partners made money from the transaction. The bank failed soon afterward, and its new president died by suicide. Although there was no evidence of wrongdoing by Truman, the episode left an uneasy impression among people in the community.

Salisbury also joined Truman in selling stock in Independence’s new Community Savings and Loan Association. In retrospect, this association became an example of Truman’s poor judgment in choosing business friends. Truman eventually concluded that Salisbury had cheated him and withdrew from the venture without making a public accusation. The break was significant not only as a financial disappointment but as a personal one: Truman had trusted a friend and came to believe that the trust had been exploited.

Rupture and Aftermath

The conflict continued after the business partnership ended. Salisbury later referred to Truman in insulting terms as Truman advanced in public life. Truman, in turn, used his influence in Washington to direct federal investigators toward Salisbury’s subsequent business activities in Independence. The investigation led to Salisbury serving fifteen months in Leavenworth Federal Penitentiary.

Several years later, Salisbury told reporters that Truman had joined the Ku Klux Klan. The book identifies the claim as a lie and notes its capacity to damage Truman’s reputation. Salisbury’s allegation thus extended their private business rupture into public political conflict: the former friend became a source of a charge that could cast suspicion on Truman’s character and associations.

Narrative Significance

Salisbury’s story links Truman’s loyalty to friends with the risks of that loyalty. Truman’s continued association with Salisbury, despite doubts about his conduct, is presented as a weakness in judging character; the eventual break did not end their connection but turned it into reciprocal hostility. Salisbury’s later accusation also shows how an old business relationship could become political material, while Truman’s use of federal investigators underscores the power he could exercise against a former associate.