The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-02-25

Several letters have appeared in the daily papers
from holders Of American stocks Urging the British
Government to lend its aid at first BY remonsrance,
and then by more vigorous measures" towards the
recovery Of their claims That suggestions Of this
kind should occasionally appear, cannot be matter
of surprise when consider the extent Of the IN
Jury sustained but It is 10 DO regretted that they
should find insertion in our Journals without one word
OF correction and thus go forth as the expression OF
public opinion. AT the time when these persons
parted with their money they were satisfied win the
mere promise to pay OF The respective Governments
TO whom it was lent. They acted upon their own
estimate of the value OF such promises and, il that
estimate erroneous, they must abide BY the con-
ssquent loss, as they would contentedly have taken
the profit if il had turned out to be correct. II the
British Government is to assume the task Of colIec-
ing the debts due to its subjects, will be proper
that its opinion should at least be asked before those
debts are permitted 10 be contracted. Had It been
consulted as TO tho proprety Of stalking the peace Of
the world upon the good faith Of tho State OF Arkan
or the Territory Of Florida, 1t is probable that
Of the present claims would n yer have exist
ed Money lenders would find little difficulty In dis
posing Of their capital, and little need for crcum-
spoction II they could recklessly part with II to Tor
eign States under the assurance that Great Britain
will at all times step in to enforce the punctua pay
ment of their dividends
We believe that the feelings expressed in those lot
tiers are shared only by very small minority Of
American bondholders and Il may DO well to inti-
mate TO the WRITERS, apart from all national consuo-
rations the injurious effects which they must iney
tably produce upon their own interests. One mo
ment's reflection will teach them that it would be
better for Great Britain at to pay their demands
from her own treasury, than TO rush into war
which must involve the Immediate expenditure oil
far greater amount, and eventually, under the m, st
fortunate circumstances, leave the matter in some
wha. worse condition than that in which II now
stands, viz. with the promise TO pay Of nation ex-
haused by war and exasperaed by blows, instead of
the promise of the same nation in prosperity and
friendship. II is evident, therefore, that their mp
peals can have effect upon the British Govern
ment; and it only remains TO inquire what effects
they likely to produce upon the indebted States
of America. In regard to those States there can be
but three points of reliance first, their intuitve
Of honor; second their of pride and hope
of future credit third their feelings of regret at the
misery which must be inflicted by their defacations
upon those who have shown confidence in their faith
and desire to promote the prosperity of their coun-
try. On the first alone, it is evident, sufficient
hope can be grounded On the second and third, the
great chances of their creditors rest and no more
certain mode Of destroying those chances could be
found than that which has been pursued. BY de-
nourcing the American people incorrigiby dlsho-
nest lead them 10 the belief that il is now too
late to take any step by which their pride or their
credit be restored, and that matters therefore,
cannot be worse whether they pay not while, by
our threats of resorting to force, excite spirit
of dislike that must eAectually prevent them from
looking with any regret upon our losses.