526
TEXAS STATE LIBRARY
Ko. 1195
1839 Apr. 13, J. WEBB TO J. REILY 62
Treasury Department, Houston 13th. April 1839.
Sir, I am directed by the President to instruct you to withdraw from market the bonds of this Government for One million of dollars, placed in your hands for negotiating a Loan & return them to this Department. From information received by the President he is assured that no Loan can be negotiated either in :Mississippi or New Orleans, except upon terms more injurious to the country than the money which might be obtained, would benefit it He therefore directs that you will cease all efforts on the subject and return the bonds forthwith. In giving these instructions, the President directs me to say that he is satisfied with the exertions you have made & that the want of success in the negotiation cannot by any means be attributed to a want of energy or effort on your part as the agent of this Govern- ment.
I have the honor to be, Very Respectfully, Your Obt Servt. James \Vebb
(Signed)
James
Reily Esq. Care of,
Acting
Secretary
James Irwin Esq.
New Orleans.
Ko. 1196
1839 Apr. 11, J. HA::.\IILTOX TO l\I. B. LA::.\IAR, [HOUSTON]
Angusta Georgia
April 14th. 1839.
l\Iy Dear Sir. I should have written you from l\Iacon but for the shortness of my stay in that place,-This in fact is my first resting point since I left New Orleans.-From that city I wrote advising you;r Govern- ment that owing to the panic in the l\Ioney ::\Iarket nothing could be done with the 8 pr Cent. Bonds.- A Bank in that City .after holding out the encouragement of their negociation for three Days retired from the proposition under circumstances which led me to suspect, that the motives of the individuals with whom I was treating were rather to obtain all the information they could out of me as to the probability of my ultimate success in establishing· your public credit with a view to speculate in your Treasury Notes without any serious intention of advancing l\Ioney.- on the 8 pr Cent Bonds.-New orleans I am satisfied is the last place in the world that the Govt. of Texas ought to attempt to make a financial "'Copy.
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