sioners to be high-minded and honorable men, incapable of making any contract which they did not believe their Government would ratify, possessed of the confidence of their Government and with a fuU knowledge of its views, wishes and expectations. They attempted no deception, they Exhibited powers, but we cared lit11e about a scrutinous Examination, we were dealing with Messrs. Austin, Archer & Wharton, three of your most distinguished citizens-their names gave us confidence, and the cause in which we adventured our money, strengthened it. We could not believe that a young and chivalrous people, would view in any but the most favorable light, those who were the first to manifest their confidence in her honor, and to adventure their money upon the result of the comeing stTUggle-When it appeared that there were obnoxious conditions in the contract, I did so far as I was concerned promptly manifest my willingness to change them, but not without a consideration deemed Equivalent for the change, with this understanding the subject was defered by the convention to the Executive, my proposition as contained in. my address to the convention forms, I presume a part of the Journals of that body in Lieu of those terms the Executive prefered offering the bonds which was accepted. The matter was placed upon the plainest immaginable grounds and it was shown to the conviction of aU the cabinet (there was not a dissenting voice) that the terms asked were reasonable and the bonds preferable for the Government to the compromise, proposed to the convention in the shape as proposed, and just in aU respects. It is a difficult matter now to look back to the period when that compromise was made, and comprehend all the inducements to make it. The Mexicans were pressing you on aU sides, your armies giving way, your country threatened with conquest. Since then the battle of San Jacinto has been fought. Things have assumed a new aspect, and now the compromise appears more illiberal to the takers of the loan, but that matters not. The compromise if a contract is as binding legally and equitably as if the government had obtained one hundred Dollars pr acre for their land and had received the payment, it is now too late for Either party to look behind the compromise if it be valid and binding, so far as it regards those who objected to the form of the Scrip you remark "It is not insisted that the original contractors were bound by the modification, they have clearly the wright to determine for themselves and inasmuch as they have not acceeded to it this government avows that the proposition is lo be considered as withdrawn.
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