The southern press., 1850-10-01

| that this MarksS contract may have the prefer
ence then the Executive Government have it
open to review when they please. SuppoSo
they have made contract with the Barings aud
Others: can we undo it without dsgrring our
selves and the Government to which we belong!
Certainly not. Even il the contruct was an I'M
profitable or improydent one, it is our duty to
carry it out it made under proper authority.
But, from all that we can learn, it is neither.
Now we shall hear from Mr.. Marks, and Judge
of his mo'e of doing business, and of his skill
as banker, and Of the proprety Of our employ
ing him or ordering the President to do so. !
will send two letters to the Secretarys desk, in
which he sets forth in what manner he proposes
to do the business He does not pretend to
speak Of any contract, and the letters, think,
show there was none
Mr. DICKINSON sent the letters to the Secre-
tary's desk They were read. The gentleman
to whom they were addressed having stated that
it was not his intention to place them on lille
with the memorial which he caused To be pre-
sened to the Senate, and the letters having been
since withdrawn by permission Of the Senate,
their contents are withheld
NV attention has been called to the fact that
the first letter was marked sconti iential" | did
not notice that before, but it came to us MS did
the other, with the memorial, in the ordinary
course of refcrence--they were placed upon the
files of the Senate, from whence copies have
been taken, understand, and they were read
and commented upon in committee as public
papers. They wcrs referred to US us commit
tee, and therefore we treated them as belonging
TO the Senate, as public papers. ! think that
this gentleman had great anxiety to make
money out of the matter, which was all right and
proper; but it will be time enough for the Gov
crnnlent to employ him when they choose to do
so, and can do no better in their judgment He
has no right to thrust himself upon the Govern
ment, nor has any other individual; and if he
wishes to engage in this business, let him go to
the Executive, and compete with his rivals and
make his arrangements there if he can. 1t is a
matter which requires no legislation to preserve
his rights or the rights OF others.
| repeat there is no doubt that the bankers
who do this business will make money in the
operation but, from all can learn, the amount
they will make has been greatly overrated, and
will be consequent rather upon their skill as
bankers, and the time they will save in the ex-
changes bycontrolling the moneyat these points,
than in any other way will add here that it
is a matter which this Government cannot enter
into The Secretary Of the Treasury would be
liable to impeachment if he were to accept a
draft, as MIR. Marks supposes he c, n DO. 1t
would be violation of law, and would subject
him to be punished in criminal court.
Twill now make a very brief statement in re-
lation to the manner it has been done heretofore.
Heretofore, on the first instalment, we paid a
premium, because we delivered treasury notes at
par, which stood at three or four per cent. adj
vance. On one Of them we got four per cent.
premium, but that was when the export duty on
specie in MEXICO was ten to ten and half per
cent. Now the export duty is five and half
per cent, ard the exchange must vary accord
ingly, because specie can be shipped at less cost
The following statement will show how It
stands. The present rate of sterling exchange
is forty-six to forty-sx and half pence sterling
per dollar-tle English system prevailing in
Mexico-and it would he unsafe to base cal
culation on less than forty-six and a half,
which would be equal to an exhange with us of
fifteen and a quarter, while the present exchange
on England is ten to ten and half That
would give fonr ard thrce-fourths profits. Now,
there would be interest accruing in the time
Suppose this to be half per cent, that would be
four and quarter. The contractors pay three
and half per cent, which, taken from four and
a quarter, leaves three-fourths proit-they will
make much more, but they have got to make il
out of their skill, and by welding their capital
as bankers. With these remarks have nothing
more to say.
Mr.. Green to Mr.. Uebsisr
| " WASHINGTON, August 81, 1850.
"SR: My friend, MIR. J. d. Marks, wrote tc
me from Mexico last winter, saying that, wanting
/ funds, the Mexican government wished to nego
tiate drafts the government of the United
States for the two remaining nstalments, undel
the treaty of Guadalupe Hidalgo, and asked my
aid to obtain an acceptance so as to make the
drafts negotiable. My father, who inmy absence
| received his letter, applied to the late admnstra
ton, and it was understood that the drafts would
be accepted, payable at the pleasure of the govern
ment, when an appropriation was made by Con
gress, and that, as four and half per cent. would
| be allowed to the United States for accepting, and
the payment in advance would save some ten pei
cent. more, the Secretary OF the Treasury would
during the present session, ask an appropriation
to enable this Government to make the payment
now, and thus save to the United States near or
quite one million of dollars.
/ With this understanding, Mr.. Marks has
closed a contract with the Mexican government,
and have just received letter from him, saying
that us soon as he can be advised that the death
of General Taylor and the change in the cabinet
have nterposed no obstacle to the negotiation, he
will come to Washington, and bring the drafts OF
the Mexican government.
Z" Will you do me the favor to say whether you
are willing that the present administration should
carry into effect the understanding between your
predecessors and Mr.. Marks and oblige your
obedient servant, very respectfully,
g BEN. Z. GREEN.
" Hon. DANIEL WEBSTER, Sec'y of State.
Nh Webster to Mr.. Green.
DEPARTMENT OF STATE,
tWAsHINGroN, September g 1850.
"SiR: have received your letter of the 3lst
utimo, stating that your friend, MIR. j. ID. Marks,
had closed contract with the Mexican govern
ment for the payment of the instruments due by
the United States to that government, pursuant to
the treaty of Guadalupe Hidago, and inquiring
whether was willing that the present adminlstra-
ton should carry into effect the understanding
upon the subject between my predecessors and
that gentleman.
SIN reply, have to inform you that have
found no papers or evidences in this department
showing any such understanding with Mr.. Marks
or any other person. A few weeks ago, def
mite arrangement this subject was made with
Messrs. Barring, Brothers, & Co., Rowland &,
Aspinwall, and Corcoran e. Riggs, the eminent
bankers, who have heretofore been employed in
reference to the nstalments paid to that govern
ment during the administrations Of Presidents
pol nj 'rnx,I