New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-03-15
Reconciliation

Oar attention has beer directed 70 hoP1i'o "
the Jaaic.sry COMMITTEES Il the senate o. W
L 8. 81 the late session, Of which "e give 'oPy
below. The resolution appended 70 " P-''sI
dsv or two before the session closed
We understand the whole amount o. me IONS
;ssnes b. the Territory Of Florida 70 the ihfse
h.,ts in that Territory-th " Union Bank Tue
s,,,,t.-o Life and frost Co and the Pensacoia
pankn-exceeds four millions ~ doafaT lac
b,sL. have all failed and their Liabilities have DC
preeiated down 10 from % cents 70 l.! cents iol
dollar. The foreign laDdholders now claim tnst
convress il bound % redeem these bonds lie
Star Of Florida refuses 70 acknowledge any haoih-
~ so- the acts Of the TsyTitor7G3 government and
has IN ss State Constitution 2 clause prohibiting
The levy Of any tax 70 pay them. or the inter
est on them This constitution was submitted |"
Congress and qpprored BY = when FLORIDA was
admitted State in l3i5. The advocates OF the
Bepudiation by she State Of Florida contend and
With force that the territorial government ad no n
tbortv TO bind the People Of Florida. o. the state
the Territory being bat mere temporary / edefsl
Corooraton the Governor and other officers Of which
were appointed by the President The Territorial
Government il now extinct and the only resource
Of the bosdhodsrs is the United States or the stock
holders Of the Banks the latte. cannot or VII not
pay. Their property roortgaged 70 secure the
payment Of the principal Of the bonds due many
vesys benc,. csnno. be reached til the time he's
ELAPSED wher the bonds become dae. ind It may
in the interim be squsndered or wasted In this
predicsment, IS We have no idea that the United
States viii consent % pay them, Il al sll Tor many
wears. and after continued expensive and trouble
some importantly, We woa.d suppose tie bond
boldefs would readily see tie expetislcyo OF real
izns - much OF their deb. as .oon as possible by
sending agents with Their securities % Florida, 70
arrange and compromise On the best terms iheyean
obtain with the stockholders, and gather up the as
sets Of the Banks which BY vigilance nisy be saved
from the wreck.
The reputation and credit Of the country is deep
~ involved IN this matter We doubt, il this Re
;9t ard the passage Of THE Resolution by the Sea-
ate VIII not have very deprecisting efec, on all
American State Securities in Europe. ard Il our
War-loan had now 70 be obtained there, they would
operate to effect its negotiation very injurously.
We feel some curiosity to see how Mr. Secretary
R. J. Walker who, while il Mississippi was one
ofthe champions Of Reputation by that State, will
nop act and whether he will as Secretary Of the
Treasury Of the United State, sustain thi, doctrine
VIII he dare. as the first financial officer Of the
Federal Government, shock the moral sense Of the
country by its advocacy
Mr. Westcott, the Senator from Florida who
made th, report from tie Judiciary Committee ha,
we learn always been in Florida one Of the rsnkest
Democratic anti Corporatonists, anti Bankites,
&c and while acting as Governor Of the Territory
vetoed and opposed the Banks, and the Issuing o.
these bonds, and denounces the whole as an usur
patton and void We presume If he can rid Florida
Of the payment OF their bonds, he would have nc
very great objection, nor the people Of his State
demur 10 their payment by the United States, pro
uidtd they were then Cancelled 90 that those who
get the money the bank stockholders we're let 60
scot.frec.
We ars inclined 20 think however, that Uncle
Sam, II he pays up, will make them pay him
Mr. Yulee, the other Senator has we lesrn ssc
been a repudiator as also Mr.. Brockenbroush, the
late rcpresentetve--but Mr.. Cabeu, who is elected
in his stead we learn is not
The Southern L life and Trust Co was owned
chiefly by Lot Clark and George Field of thu
State, and we are informed, also, that Gov Marcy
Mr.. John Van Buren,, and divers others who, some
/ years ago, were Of the same political clique Il
| New York, were also among the stockholders o
that concern. We have been informed that som,
bonds Of the Territory of Florida given to this Ja
hare been paid By Inr. Secretary Marry since M
Polk came into office, and out of funds used IN con
! troll Of the War Department. aud against the pro
test Of Mr.. Yulee while delegate. They were
however, different from these bonds yet unpaid
being others given by the Territorial authorities 70
money borrowed Of the Bank to pay sundry exper
ses in defending the people Of the Territory again,
the Seminole Indians, and we learn this identica
money so borrowed went in part TO pay ior tn
famous blood hounds We are informed, also
that some bonds Of similar character 70 these las
are yet unpaid
REPORT.
T,3,ri4r1 nrIo "A