New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-05-08

of pure water running through every township al
most 1t holds out advantages to the new settlers
rarely 10 be found IN the West.
see by the papers OF this days mail your lie
oislaturc have nominated Mr.. VAN BuREN as Il
candidate for reelection 10 the Presidency l
doubt much the possibly Of his receiving The nom
inatjon. and more the probability; and as TO lloid,
| jno a Convention in November next apprellcha
mo, half the States viii send delegates To suc
a Convention The West arc strong for General
CAss, though they would support MIR. van buFen
If nominated But their feelings are for CasS'-
Il is generally believed Cass Will gam ground
from now TO the time OF holding The Convention
and then it is hoped VIII rcccl"c tic nomination
The lake is open 10 Cleveland, Lake 1t. ''aif
is clear of ice, and the Ice III Lake huron Is sa!o
TO he aAoat;" a few days and we shall be near
nephbors agan as hours from your city 10
Buffalo. "a from Buffalo here, 80 hours from here
TO Chicago This is quick travelling. You can
ro from iIe.s-y0rk to st. Louis by the way ol
the lakes in less than week.
Nothing new in the City am aware OIL
am as usual, your Loco-Foco friend IN Michigan,
Remarks by the Editor.
Oar aIichi-~a friend qnitc mistaken in sup
grounds on which Michigan refuses to acknow-
ledge the major part of her Public Debt. We
we're ut.ite aware Of them; and regard them
as llntenaba. Let us reconsider li,enl
Michigan wants to borrow money, and sends
into the market her fully authorized Commission
crs to sell her bonds, payable TO bearer. They
cannot sell them for money; but the Morris Ga
nal Company says, We will buy them, and pay
YOU from time to time, as you shall want the
money" These terms (nlost unwiscly and
haz;udousy) accepted; Michigan sells her ncgo-
table bonds in the market, and takes The prom
ises of the Morris Canal Company in payment,
The bargain is complete and the transfer perfect
Time passes, and it is found that the Company
has parted with the State Stocks for 4 full con-
sideration, and is insolvcnt-cannot pay the State
as it has agreed 1t has paid a part OF the
amount which the State has received and OK
pended; this, she says she will repay at her con-
vcnicncc. but not a Garthing more. II her de-
fence be indeed "a good one, then no man should
ever be required TO pay note he has endorsed
lust TO obligc a friend; )" no man need be
;frai, TO sell his notes OH time TO any blactlcg
and let linn do as he plcascs with them; and cx-
changing notes with friend, in order 10 help
each other raise the wind which has hitherto
been thought ticklish business, is safe as any
thing can be. Docs not cTcry man sec to what
monstrous conscQucnccs-wllat destruction OF all
credit security and confidence, such doctrines
must lead Z? No man can feel safe that any
Bank note in his pocket will answer TO buy TO-
morrows dinner he may know that the Bank is
sound and the bill genuine but tomorrow the
Bank may kill the bill by a notice that it was
issued with others upon discounting Il note ; and,
as the maker of that has let ii be protested and
turned out ilsolvcnt, the Bank has good de-
fence against the bills, and will not pay them =
How would our Loco COCO friend relish this =.
He talks very steutlr- indeed, of tic "rnttate' g
having good lcgol as well as equitable defence
against these Bonds We have short answer to
that, which VIC shall give in the original Yam
kcc, viz WIZ them do M She take measures to
test the point legally? The holders of the
Bonds cannot sue her without her concurrence !;
but she can easily unite i'll making up a case
which will put the legality Of these bonds DIS
tnctly in issue before the Supreme Court. Why
has she not offered to do this When she docs,
and agrees to abide by the decision, we will al
low that there is something in her deicncc-at
least that she thinks there is until she docs 1t,
we must continue to regard her attitude as one
of unmitgated knavcry.
We have allowed our correspondents state
lncnt of the facts in the case TO pass without
question or abatement, for we cannot sec that 1t
avails him any thing. The very confusion IN
which he involves his clicnt-thc impossIbty OF
determining for which bonds a satisfactory con-
sidcra!ion has been received and which not, and
who arc the holders OF the one as distinguished
from the other, ought TO have satisfied hlin, as Il
lawyer and a man OF sense, that his defence Is
good for nothing Il. all
Ncw-York but hiriysia hours iiom Buffalo.
Ed
an