Holly Springs gazette., 1841-10-21
From the Natehez CoErier.
THE PAYMENT OF THE BONDS IN EUROPE

THE PAYMENT OF THE BONDS IN EUROPE
In reviewing Governor McNuis letter to the Amsterdam
agents of he bondhoders Messrs. Hope Co we called
particular attention the facts that the bonds could no have
been sold at the they sold unless they made
yabc Euopethat they made payable and ne
dollar was mere article of there
ary to afix the OF sale sure and certain
value-that besides his might DC impossible %
remit dollars the of maturity OF the boad and there
fore requisite assign the dollar 10 speeihc rate
that by placing A. Cd the commissioners obtained the
best valuation they could possibly ge-and that N no event
the Bank only being bound pay this price which aoes ne
affect the liability oi the State could the Se
loose than the premiums upon exchange whleh Hmtgh
be compelled purchase convert into dollars whefea
to louidate the Bonds We also showed that the Bank
might loose but that this arrangement nsat be -
IA vor and that this improbable suppoSiion-
But let suppose for the time being that will eesi he
State premium then cacuate the probable pre-
MUM that will exist To co this we must refer 70 the pas
have done previous arceand we have assumed
per fair average To make even Numbers NJ
will say If counuys natural prosperity rttaro =
will be less say ) o Whereabouts.
The State will be required pay. say millions 81
dollars ON account of the Union Bank Bonds London bv
the wear 1852 Ii she sends the millions specie she
will be compelled pay freight and insurance say r een
low estimate. Tha: would cost her 10000 dollars II
she buv exchange Will cost her % purchase
SIS 600 pounds sterling (which millions Ct dufsl
500 600 dollars But the State sends seNchac and she
can buy the dollars ID the price fer years % the
ket-she would oose nothing by buying te eAcane -i
per cent would cost her just 7oOOuu0 10 buy eXrh-rEe
al per and then bay the dollars Z. Is A The usual
market price, per cent then luSt equazc lae 1iIrfe
tween the As there and the vouh here 1.-The cca
cost less the premium higher or lower le eA
pense will be greater or smaller the Safe the
be-and variation insepaTable from te fluctuations a.
commerce The bank however render the durfcuce
between seven millions the OF Is 6i and al whaefr
NAV be The market value The Ran only bound IS ths
stipulation of the but b. ustt adtan
geousy by Thus the dollar should haPptn a h
worth As shlllings. the may nruHga tae
Bank and the holder Of the Bonds he
at As Cd The Advantages ofthe arrangement m cse vna
is supposable and may that the dollar
worth more than As 6d London and equally available
4 he eapdth
the same time but frank admit that the pfotables
that of peace the dollar will not D worth 50 uch
the stipulated Then Will the commissioners s:li u
annie justification for their ACCESSION % agreement 1t
the dollar shall be rated IS Cd IN the r=asnnshrst
they compelled adopt Specitc vauaton guard
apains, the possibility ofobtanIng the dola coning
by no means unworthy Of consideration and secondly hcy
could not effect a sale unless they asen 10 his provision
This last argument should OF itself have weighed mae
ally with thenbu when taken connection wan tlt
yeral Glamour throughout the for sale othe Ion Is
the lvhIe 80 feW etlous ct
most to neuaize the hyperboe Of the expeSSionl a
from such sale-the osIve OF guarding against th
mpracticabIiiy OF renIng actual dOaEs-the nature al
their these surely sufficient "a g-g
the the Bank making this pTovlson Tie S1t
has no right complain Of H. for she Fatty
and vet has The advantage secured 10 her OF usug ~ a@
visible although in degree bound by the Hauk rata
fed as agreed by her agents and the Bank 0ais u
fer by tiff there be any loss This the bond holss sell
i, understand
*Note-We are that principal and uieEts oi Ihr
whole five millions than inns bu
have taken IT, because believe that the Unon Bank will
be able to pay the difference between this anu The hole
mount and by consequence the State viii no. &c felulrsd
; raw more than seven monsof dollars Ths actually
n believe and. are confident the reSal xii show T.