For the past two weeks, readers of the state's biggest newspapers may have noticed some unusual advertisements. The full-page ads, with their stripped-down design, lacking flair or photographs, deliver a blunt message: Support Mike Gravel, the former Alaska senator campaigning for the Democratic presidential nomination.

Wait a minute. How is Gravel, who's struggled to raise money and is waaaaay in back of the pack, able to afford full-page ads in the Union Leader, Nashua Telegraph and Concord Monitor day after day?

He can thank Gregory Chase.

Chase, a 27-year-old hedge fund manager with a lot of money and even more passion, began waging his one-man media campaign on Gravel's behalf two weeks ago. Working independently of Gravel's campaign, Chase plans to continue his assault until primary day.

In addition to the newspaper ads, which he plans to run daily until the primary, Chase has sent brochures to thousands of Nashua households; he has printed nearly 1,300 "Gravel '08" yard signs and 1,000 bumper stickers; and he's working on a letter, to be sent to every New Hampshire resident, outlining Gravel's position on tax reform.

In an ad printed in Thursday's Monitor, Chase offered $1 million to NBC if the network agreed to include Gravel in its upcoming candidate debate.

"This guy needs help, and I'm going to make it happen," Chase said in an interview. "This is a lot of money for me; this is not something just for fun. But it's something I believe in, and it's the best use of money I can think of."

Chase is quick to emphasize that he's acting on his own, with no connection to Gravel or his staff. He's donated no money to the campaign, has never met the candidate and does not communicate with his staff or volunteers. (Federal election laws allow independent expenditures on behalf of candidates, but the spender and the candidate are forbidden to coordinate their efforts.)

Gravel campaign officials also say they make no effort to speak with Chase, though they clearly appreciate his efforts.

"God bless him," said Elliott Jacobson, Gravel's national field director. "From a distance, we bless him."

Chase's spending has also caught the attention of Gravel's supporters in the internet. "I'm adding you, Mr. Chase, to my list of heroes," read one blog posting. "You are truly a patriot," another read.

This is Chase's first foray into politics. A registered independent who grew up in Lexington, Mass., he describes himself as a numbers and data guy. He earned two physics degrees from Harvard and spent several years as an oil and foreign exchange trader in New York and London. He now lives in Nashua and runs a currency-trading hedge fund with his brother.

His time working in energy trading convinced Chase that America's dependence on foreign oil is misguided. He supports a sharp increase in the gas tax to encourage investment in alternate fuel sources. When he heard Gravel support a similar position in one televised debate this summer, Chase was smitten.

"That's what won me over with him," he said. "All the candidates give lip service to what they thought would get them some votes. Gravel was the only one with the guts and principle to say that we need to get real and get off oil."

Chase also supports Gravel's proposal to replace the federal income tax with a national sales tax. "I'm very cognizant of the tax rates hedge fund investors pay on their investments and fund managers pay on their earnings. It makes apparent to me the regressive nature at the upper end of our tax system."

Single page