Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1842-02-24
GEN. HAMILTON.

suspension of public opinion in the case of
Gen. Hamilton, is asked by writer's in the Wing
and Enquirer, until he can have an opportunity
of explaining his transactions with the James
River company.-He is now in Texas. They
express great confidence that he will come ont
with honor untarnished in the matter, and that
there is not the least danger of loss by him to the
company.
The following communication on :hc subject
appears in the Charleston Courier:
TO the Editors of Tie Courier:
GENTLEMEN-i'he article. from the Richmond
Wing of the 7th instant which appeared i'm your
paper OF the 10th inst, details another series of
the notifications and disappointments which
have arisen from the traffic, in Europe, of Amer
lean stocks. No individual, probably, has suffer
ed or is likely to suffer so much from these NOR
tlhcatlons and disappointments General Ham
ilon. Enjoying at home the highest confidence
and esteem of his feIow-citizens, and possess
ing an independent fortune, he took the deepest
interest In the Texan revolution, and exerted
himself to promote its success. In il he is un-
derstood to have embarked a considerable amount
of his fortune-and when the pressure on the
mercantile community and some losses n trade
made 1t necessary for him TO endeavor to concern
traie his resources, probably looked TO the cf-
fccting of loan in Europe for the new State, as
the best means of promoting its prosperity, and
of realizing the funds which he had advance for
it. considerable amount in Texan bonds was
held by the Bank of the u. S., and il was there
fore an object with the Bank to promote the loan
1t is not unlikely that, when Gen. IL. went to
Europe, with the expectation of negotiating such
loan, he received an intmation from some one
or other, who had influence in the Bank, that if
the loan could not be obtained OH other. or more
favorable terms, it might be guaranteed by the
: mi rrIb
what actually occurred. He certainly made
great exertoBS TO effect the negotiations without
the guarantee. 1t seems equally certain that he
failed. But there is no doubt that when his let
ter of the l4th February, 1871, to the editors of
the Journal Of Commerce, and which appeared i'm
your paper Of the 3lst Of March, 1911, was writ
ten, lie had negotiated the loan with the house Of
j. Laftte & Co. So That he considered the mat
ter absolutely and finally settled. The diploma
tic agents of Texas in Europe and in this coun-
try, depended, it is believed, mainly if not who'll
", o." Eonaral 81 owiIton, snd tho loan which he
was expected TO negotiate, to keep them at their
posts. He was obliged to make advances for
them. heavy and unsuccessful adventure i'm
cotton is understood to have crippled his own
resources. The retirement Of the Texan diplo-
matte agents from Europe would certainly have
endangered the loan which he believed liected
ana TO maintain them, he may have ven,ured to
raise money by pledge of the State Bonds re-
naming in his hands belonging to the James
River and kaDawha Company, with the firm in
tention OF redeemiDg these nds by the very first
funds received from the loan. The actual quar-
antee OF the loan, by the Bank, of which, il seems
he had never doubted. reached Europe on Ftbru-
AIRY 7, and was, OF course, immediately forwarded
to him. Within less than fifteen DAYS it was
followed by the astounding and most unexpected
intelligence that the Bank had failed. This was
an event which TO human sagacity could well
nave foreseen, and assuredly not one man in Eu-
rope anticipated. 1t was well calculated to ex-
cite much uneasiness in the minds Of Lafitte g.
Co, and to throw great, il not insurmountable
obstacles in the way Of sale of any considera-
BILE part of the stock; and the intervention of
Mons. Human, the French Minister OF Finance,
must have given the finishing blow to the con-
tract The utter failure then, this contract left
1t out OF the power Of Gen. Hamilton to redeem,
from the proceeds ofthe loan the bonds hypothe-
Gated with the Dutch house, and his own recent
heavy losses, and the general depreciation of pro-
perry, would render him, for the present, Unable
TO raise the amount. Beyond all Reasonable
doubt, it was expended in the services Of TeSds
and with the view of promoting her interests,
and certainly Texas will see that it be repaid 10
the James River and kanawha Company.
These remarks are not offered as an APOLOGY
Tor the application Of the bonds, but as probs-