proceedings of a meeting of the holders of the two loans made to the Governinent of Texas in Jarniary last, amounting to "two hundred and fifty thousand dollars." The resolutions, contained in this copy-have received the most mature consideration from the Government and it is due to you, and the other contractors, lo say thal an answer would have been forwarded, long before this, but for the unexpected and unavoidable absence of the Secretary of State. The concluding part of the report, of your committee, which is in these words: "your committee further recommend that there be a clear and explicit understanding in relation to their right to locate before the lenders proceed any further with their investments," was to this Government, a source of both mortifica- tion and surprise: of mortification, because the failure and disappointment, in obtaining the anticipated supply of money, produced very considerallle derangement in our financial affairs, and of surprise because we were of opinion that the modified contract, celebrated between this Government and Robert Triplett and W. F. Gray, and, by Robert Triplett, submitted to Lhe other conlnclors, on the 25th day of May, at their meeting in New Orleans, was so "clear and explicit" that no possible doubt could arise in its construction. The prominent objection, which seems lo have been taken at the meeting of the lenders, arises from the form of the Scrip professed to be issued, which is found to contain these words, "Provided however, this certificate shall nol be localed until, by law, other persons are authorized to appropriate lands within the limits of this Republic. And, in relation to this Proviso, it was resolved, "that the terms of this form do not correspond with the terms of the contract of loan and compromise." Upon this question we are completely at issue, for we insist that the proviso is compatible with the spirit, intention and letter of the modified conlracl. By reference to the original contract, entered into between the lenders and our agents, on the 11th January 1836, it will appear, from the tenth and eleventh articles, that it was not obligatory, on either party, until it should have received Lhe ratification of the Government, or ''next Convention of Texas."
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