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TEXAS STATE LIBRARY,
No. 1167 1839 Apr.1, J. HAMILTON TOM. B. LAMAR
New Orleans April 1st. 1839.-
My Dear Sir.
------I am sOOTy to inform you that in consequence of the- very unfavorable intelligence :received by yesterdays mail from the North of the dreadful panic prevailing in the Money Market in New York the very general apprehension that war may take place between G. B. & the U. S. not a Bank here would take My Exchange secured by one of the first Endorcers in this City and on an hypothecation of the 8 pr Cent Bonds.-Indeed as I wrote you Money is worth 4 pr cent pr month out of doors and the best Notes are thrown out in the dif- ferent Banks ,here which are doing nothing- -The Bonds cannot be sold here for 50 Cents on the Dollar, .and I would recommend their immediate withdrawal from the ,Market, & until I can get on to the North & see what I can do, with the 5 Million Bonds which if negoci- ated you will not want the 8 pr. Cent. Bonds cashed.- In the mean time you will have to issue your promissory notes. The Star Notes will I am told sell here for a larger price than the 8 pr. Cent.- I would have taken the 8 pr Cent Bonds on with me to Charleston & endeavoured there to- have raised $200,000 by_hypothecating them but Mr Erwin with whom Mr Reilley left them in special deposit drid not feel himself author- ized to deliver them up to be taken out of New Orleans without Mr. Reilleys order.- ------You shall be constantly advised of my movements, & such advices as may influence the chances ad: my success. I shall on my own responsibility raise Money enough to send to your Ministers to Mexico & the U. S. -
I remain Dear Sir
• with the highest consideration & esteem
Very respecy. Your obt Set J Hamilton [rubric]
His Excellency M. B.. Lamar. [Addressed]
[Endorsed]
His Excellency 1\1. B. Lamar
Genl Hamilton N. 0. Apl 1st. 1839 Official
Presdt. of Texas Houston
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