328
THE AUSTIN PAPERS
10 years of redeeming the remainder (if any there be} on giving 6 months notice. Books of subscription shall be opened for said stock, and the subscribers shall pay 25% at the time of subscription, and notes for the remainder in three equal payments at 6, 90 and 120 days, endorsed to the satisfaction of the Directors of the U. S. Bank, or persons appointed by them to decide, and the Bank shall discount said notes, and pay the first payment, and the proceeds of notes to the Commissioners.
DRAFT OF LETTER TO NICHOLAS BIDDLE
Philadelphia April 9, 1836
N BIDDLE ESQR. SIR,
I send you enclosed a proposition for the negociation of a loan of $500,000 to which I ask the favor of your consideration provided the one cannot be effected on the basis, of which we conversed in our interview this day- The kind expressions of feeling and sympathy which you expressed in conver!,ation today, in behalf of my Struggling country have induced me to submit this proposition to you, for the purpose of ascertaining whether in your opinion it is a feasible one, whether any, and what amount of money can be raised by it among your friends in Philadelphia, and whether the Bank would probably be willing to assume the trust and negociate the paper. My an'xiety to do something for the country so soon as possible has in- duced me to leave this proposition with you, before the other is acted on, and I would beg the favor of an answer as early as convenient- (N.B.} The above letter is substantially the copy of one sent to Mr. Biddle on Monday 11th April.
AUSTIN TO NICHOLAS BIDDLE
Philadelphia April 9 th 1836
HON. N. BIDDLE SIR,
As the enclosed memorandum embraces the general outlines of the loan for Texas on which I conversed with you this morning, I take the liberty of handing it to you. I should esteem it as a favor if I could be informed within a Short time, Whether you think any thing could be effected in this Matter- I consider that the cause of Texas, is the cause of freemen an_d of man• kind, but more emphatically of the people of the United States, than any
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