Spiro Agnew division and uncertainty, and applauding Agnew for his patriotism and dedication to the welfare of the United States. House Minority Leader Gerald Ford, who would be Agnew's successor as vice president (and Nixon's as president) recalled that he heard the news while on the House floor and his first reaction was disbelief, his second sadness. Soon after his resignation, Agnew moved to his summer home at Ocean City. To cover urgent tax and legal bills, and living expenses, he borrowed $200,000 from his friend Frank Sinatra. He had hoped he could resume a career as a lawyer, but in 1974,
Inauguration of Gerald Ford presidency was established in 1789, it was the first to take place because the incumbent had resigned from office. Ford had become Vice President on December 6, 1973, after the resignation of Spiro Agnew. He was the first person appointed to the vice presidency under the terms of the Twenty-fifth Amendment. Thus, when he succeeded Nixon, Ford became the first (and to date only) person to have held both the office of Vice President and President without having been elected to either. In a televised Oval Office speech on August 8, 1974, President Richard Nixon, who was facing impeachment proceedings