Report to Show Romney Fortune's Bigger Role

Over the next three months, the balance between the money Romney raised from contributors and the money he drew from his own accounts began to shift. His fundraising haul dropped to $14 million, compared with the $17 million total of one of his top rivals, former New York mayor Rudolph W. Giuliani and the more than $32 million taken in by Sen. Barack Obama (D-Ill.). But Romney also lent himself an additional $6.5 million.

At a news conference, he signaled that his message about the role his bank accounts would play had shifted. "It would be nice not to have to loan or contribute to your own campaign, but the reality is, if you want to have a strong campaign that gets out there and can talk across the nation, you're going to have to do what's necessary," he told reporters.

Kevin Madden, a campaign spokesman, said Romney's top advisers carefully weighed the political implications of turning to the candidate's own money for help. What they determined, he said, was that the investments the campaign was making in early television ads were yielding a return, and that the campaign appeared to be blossoming.

"In order to maintain the campaign's growth, we needed to have the resources," Madden said. "The decision was to match that growth with his own personal contribution, so this campaign would not be short of resources, so we would remain competitive and grow into a national organization."

The campaign also faced a significant challenge that was not confronting Romney's chief Republican rivals, Giuliani, McCain and former senator Fred D. Thompson of Tennessee: Romney is much less well-known around the country.

Romney "invested" -- the term his campaign likes to use to describe the use of his personal resources -- significant sums in paid advertisements, far outpacing the other candidates by devoting more than $6 million to television spots, according to Evan Tracey of the Campaign Media Analysis Group. He also poured money into Iowa, assembling an operation for the state's straw poll that included a statewide corps of 60 "super-volunteers," who were paid between $500 and $1,000 per month to talk up his candidacy; a fleet of buses; a direct-mail campaign; and a straw poll consultant who was paid nearly $200,000.

The truth is, Steen said, even without the early fundraising effort, Romney may not have faced a huge backlash even if he had used significant amounts of his own money from the start. A recent Gallup poll showed that 92 percent of the public find it "acceptable" for presidential candidates to use their own money to pay their campaign costs.

"What I found, if you look at public opinion polls, the public doesn't tend to care," Steen said.

A recent Gallup poll showed 92 percent of the public find it "acceptable" for presidential candidates to use their own savings to pay their campaign costs.

Romney's aides have signaled that he will report putting in about $6 million more of his own money over the past three months, and there are reasons for this. Romney's poll numbers in New Hampshire are slipping; and with him still running fourth among the leading GOP contenders in national surveys, his campaign sent out a memo both to reassure supporters and to lower their expectations.

And as Romney prepared to release his third-quarter numbers this week, he began hinting that he will be using even more of his own money. He presented at an event in California a new rationale for doing this -- far from the "nightmare" he had described earlier -- telling supporters that, by dipping into his pocket, he would not be "beholden to any particular group for getting me into this race or for getting me elected."

Staff researcher Madonna Lebling contributed to this report.