Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-12-04
Sal4.465 60

By the of this purchase the said muskets were
to be paid for and taken away in nine months from the
23d of April, 1849. .1f64 1t s,agI Ri as
Before the expiration of the nine months, Mr. Law
made application to the Secretary Of War; Mr.. Crawford
for extension Of the time for payment and removal Of
the muskets in which he was successful The time
extended twelve months with interest at six per cent,
from the 10th of January 1850, the whole amount
accordance with Mr.. Laws own proposition -
second bond for hundred and sixty thousand dol
lars for securing compliance the partof Law with the
extended terms of pay ment accordingly duly
ted under the direction Of Mr. Crawford-the sureties
being M. 0. Roberts and Isaac Newton st,
Under this second bond Mr. Law agrees, and the
ties guaranty the fflment Of the same to comply with
all the conditions of the first bond excepting rs to the
time allowed to take away and pay for the said muskes
and APPENDICES. ~ IS sfa s4gss h.8
The conditions Of the second bond pere not fulfilled By
Mr. Ldw and compliance Herewith was attempted to
be enforced by the Government; consequently inter
regnum in the transaction existed from the 23d Of jan
uary 1851 to the 18th of May Of the year, will
appear from what follows. sf 8tfsf "a
In the spring Of 1851 Mr.. Law presented to the
Secretary at War; Hon. c. NJ Conrad for renewed nego-
atops the subject Of his Indebtedness the Govern
for the purchase of mukets and appendages from
his immediate predecessor in the War Department.
Mr. Law expressed desire to be entirely released from
all obligations and responsibility growing out of the said
purchase giving up the same and surrenderng all ecuri
ties relating thereto To this proposition the Secretary
hestatingy refused to listen Mr. Law, it seems, had
become sick of his bargain could up to that date find
market for bis military equipments either foreign
domestic and therefore his dreams Of grand specua
ton were unreazed.
After considerable negotiation and at the earnest so
citation of Mr. Law for further extension of time of
payment beyond that fixed in the obligation entered into
with Mr. Crawford it finally agreed and arranged for
the payment Of principal and interest in instruments
within the period Of six years.
BY the of this renewed extension of payments
Mr. Law compelled to pay the interest sa on the
principal TO April lst 1851 thereafter instruments
of principal and interest," payable the first day Of Oc
tober and April in each year. OF the principal sum- one
sixth made payable, with interest on the first Of
April 1852 and the balance in ten equal semiann in
salments the day and month in each year stated
1t is further stipulated in the agreement providing for
this third extension Of payment that Mr. Law is to receive
muskets in value at the prices already stated to the
amount Of four fths of the paid the remaining fifth
being retained additional security until the final extn
guishmen Of the debt. And also that in case any in
stament part thereof any portion of the interest
shall not be paid in accordance with the terms agreed
upon, the whole debt shall forthwith become due and
payable And the Secretary Of War may cause ell the
muskets not delivered to be sold at public auction and
the proceeds after payment Of the expenses of SALE be
applied towards the reduction Of the debt.
The agreement further provides that the said muskets
and appendages shall remain at the risk Of Mr. Law on
storage at the Atlantic Dock South Brooklyn New York.
until delvered and that the United States
sponsble for their safety preservation and that Mr.
Law shall pay all expenses of storage, any shall be
incurred on that account
The bond to comply with this third agreement for er-
tended payments, entered into between George Law and
the Secretary Of War; is signed by Isaac Newton and NJ
o. Roberts in the presence of Edwin Croswe all of New
York.
The interest paid by Mr. Law April 1st 1851 accor-
dance with the terms Of this last agreement amounted to
upwards Of $3.50 0O0 sixty thousand dollars Two pay
ments have since been made viz the first of April and
October last being both account of principal and in
erest as per agreement The rstpayment sixth
of the whole amount with interest and the last payment
in October amounted to 24 900 the principal and 900
interest, 1881 ,000)
Under the operation OF the existing agreement, Mr..
Lo.,c
Dock between TWENTY-FIVE and THIRTY THOUSAND NUS
KETs What Is their destination?
The curtain being slightly lifted the public can
discover the real Of the Crescent City
in the harbor Havana and find solution of the cause
why "Mr. Law has determined that Mr.. Smith shah re-
turn to Havana Saturday next in the Crescent City