At this gloomy period the financial affairs of the country were in a condition more deplorable than its military equipments. The commissioners, Messrs, Austin, Archer, and Wharton, appointed by the late Provisional Government, had negociated a loan for two hundred thousand dollars, and another for fifty thousand, with sundry individuals in the city of New Orleans. It was doubtless the best arrangement that could be made at that period. l\'lr. Robert Triplett, a principal subscriber to each of the above loans, presented himself to the government at Harrisburg. Twenty thousand dollars had been paid in on the first loan, and Lhe whole of the second was advanced. The ratification of those loans had been submitted to the Convention, and by them was referred to the Executive Government. On inspecting the terms of the loans, some of the conditions were considered inadmissible. The exclusive right to an immediate location of the scrip, was a privilege, which il was believed would cause infinite dissatisfaction in the country, and be especially obnoxious to the volunteers of the army: the nature of whose services, would seem to preclude any right of priority of location, in others. For no species of public service is considered more onerous, or more entitled to recompence, than that which is rendered in the field of battle. Under these impressions, we proposed to Mr. Triplett a modification of the loans, and agreed to reduce the price of the land, or rather to make a donation of thirtytwoleagues of land, to be distributed pro rata among the stockholders, in consideration of a relinquishment of the right of priority of location, conceded to them, by the terms of the original contract. The modification was accepted by Mr. Triplett for himself. He was not vested with authority to bind his co-lenders; but he expressed an opinion that they also would accede to it. From the first loan, the government confidently anticipated a fiscal aid of some importance, in the then pressing emergency; but as the sequel will disclose, they were unhappily disappointed. Mr. Triplett, on his return to the United States, presented his modified contract to his associate stockholders, and to our surprise they unanimously voted against its reception, and declined advancing the residuum of the loan. Some disappointment resulted from this decision of the lenders; and the government felt the inconvenience of an illusory anticipation. A new proposition has been made to the lenders, to adjust the amounts advanced, on the principles of the modified contract; but no definite answer has been had to that overture. The presumption is, that it will not be accepted, and that the settlement of the whole transaction, will devolve on Congress, for I
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