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WRITINGS OF 5AM HOUSTON, 1853
the fund. So the intention of the Senator from Virginia is merely that those who are willing to take their bonds at the scaled rates, shall have permission to do so, and not be prevented from realizing their rights by the contumacy of a few seditious would-be creditors. [Later in the debate.] Mr. President, I am very reluctant at this time to press myself upon the Senate. My friend, the Senator from Kentucky [.Mr. Underwood] alluded to the speech which I made, and also, a letter which has been published in reply to some remarks which I then used in debate. I am always responsible for what I say here, or elsewhere, and I am very glad that the honorable Senator has suggested it, for it may supersede the necessity of my catechising the gentleman who wrote the letter, in the news- papers, or in private correspondence. The gentleman to whom allusion has been made/ says that he is not one of the speculators. Then I do not know how to char- acterize a speculator. If what I have h~ard were admissible and proper, I would give it as hearsay; but I will come down to facts, which are applicable to the transactions of that gentleman in Texas. He said in his letter that he had gone there, and had held conversation with me; that I had entertained him about the prospects of the country, and that my representations had caused his investments in Texas. Now, sir, it is very remarkable how he should have come to any such conclusion, for I have never yet speculated to the amount of one dollar in Texas, though I have seen where I could have done it to the amount of millions. That gentleman, according to his own statement, being impressed favorably from the glowing descrip- tion which he received of the country, made an investment, I think, to the amount of $59,000. That, mark you, is the amount which he claims of Texas-not that he actually invested $59,000 in good funds. If he invested $25,000, it is the most extraordinary piece of stupidity that ever was in the world. He might as well have thrown the money in the bayous of that neighborhood, for money had very much depreciated there. It may be well doubted whether he ever invested even $15,000. He stated that from these circumstances, he had no hesitancy in leaving his money to be invested there. I understand this, and although I give this from hearsay, I think that the facts will bear me out. He did invest his money, or a friend did it for him. Up to this time he had no transaction with the government of Texas, but with the citizens of Texas, who had received this money in
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