TEXAS STATE LIBRARY
186
you, and your constituents may be relieved from a state of suspense as soon as possible- I send you by l\fr. Fletcher Wilson, the French Code, which con- tains, with their other laws, those in respect to partnerships, with limited responsibility I recommend the subject to your particular con- sideration The sales of state stocks, more particularly of :Maryland, have been considerable- This is a sterling stock (capital reimbursable, & in- terest payable here) and notwithstanding the bad times, 70 has been obtained for a five per cent- We could certainly do as much for states of equal credit who should issue Bonds on the principle and in the form which are recommended- I am dear Sir yours very truly A. T. Burnley Esquire. Signed G. Shaw No. 1534 1839 Nov. 15, M. WILSON, LONDON, [ENGLAND], TO A. T. BURNLEY, [LOUISVILLE? KENTUCKY] T. A. Burnley Esq Oopy 6 London 15th Novr 1839 My dear Sir Mr Shaw is absent in the Country but he assured me he should write to you fully in respect to his views & opinions: there- fore I refer you to his communication 7 I do not anticipate that the suspension of specie payments by the U. S. Bank will interfere with your contemplated negotiation for Texas & as to general circumstances they are in my opinion likely to become much more favourable on the opening of the new year. There is no doubt that the Bank of England is now, in a sound & safe position. I understand the increase of specie in their vaults since the lowest point to which it was reduced is now £400,000-this does not appear yet in the printed accounts of tlv•ir :averages but you may rely on its correctness. In January our largest quartely [sic] c'lividends are paid and when they are paid out we may 1ook to a reduction in the value of money which will bring about a restoration of general confidence. Nothing I believe can defeat this -expectation but fresh importations of grain from the continent and at present moment there is no inducement to make them the duty being so high. Opinions however are at a nuiance on the result of our last harvest & if we shall require fresh supplies cannot be determined be- fore the Spring It is to be hoped America will send us a large quan- tity of flour we have nothing to fear from continental importations. I enclose a Brokers list of the prices of American ·Stocks almost all the quotations are nominal real buyers would get the different Stocks
•Appended to no. 1571. 1 l'<O. 1533.
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