I confess your Nixon reference eludes me, though I don't believe the Democratic Party hung anything on him. Nixon hanged himself.
As to the film, you're quite right about both the cast in general and Holden's closing speech.
And indeed, it was Barbara Stanwyck who may have saved Holden's career. They had been cast together in the movie Golden Boy (1939), but not at her request -- she's unlikely to have even heard of him at first. Stanwyck was a big star while it was Bill's first major role (he'd had only one bit and one small supporting part before this). After several days' shooting Holden wasn't working out and the studio wanted to fire him, but Stanwyck interceded, saying he'd be good and she would work with him on his performance. She prevailed, and it all worked out, and forever afterward Holden and she were close friends. (They allegedly had an affair during that film as well.) For the rest of his life, Holden sent Stanwyck flowers on her birthday, in gratitude for her help.
When Stanwyck was offered the relatively modest role of Julia Tredway here, she accepted solely because it was only the second chance she'd had to work with her friend Bill Holden. It's the only other time they made a movie together. (Ironically, Henry Fonda was originally offered Holden's part but declined it to do a play, which ended up never being produced. Holden was much better for the role.)
In the fall of 1981, the Academy of Motion Picture Arts and Sciences informed Stanwyck that it had voted her an honorary Oscar, to be presented at the 1981 ceremonies held in the spring of '82. William Holden was scheduled to bestow it on her. But Holden died in a fall in his apartment that November. When Stanwyck accepted the award a few months later, she told the audience that Holden had been the intended presenter, and that he had always hoped she'd win an Academy Award. Holding it heavenward, with tears in her eyes, she then said, "Well, tonight, my golden boy, you've got your wish." There wasn't a dry eye in the house.
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