Daily American telegraph. [volume] (Washington [D.C.]) 1851-1852, 1852-01-13
No. 2.-M. Green TO Mr.. Meredith.
WASHINGTON, March 10, 1850.

Hon. W. Meredith, Secretary of The Treasury:
"DEAR SIR: Money in Mexico is power; and
Herreras government threatened by Santa Anna
and his partisans desire to anticipate the pay
ment of the two instalments to become due un-
der the Mexican treaty. Mr.. l. D. Marks an
American merchant, who resided many years in
Mexico, who has the respect and confidence OF
the Mexican authorities, is now in New Orleans,
awaiting an assurance that the drafts of the
Mexican government, drawn in his favor, will be
accepted, payable at the pleasure of the govern
ment of the United States when an appropriation
therefor shall have been made by Congress, to
proceed to the city of Mexico and close the contract
for the purchase of the two remaining instalments.
Supposing that the acceptance should be made by
the Secretary of State, | addressed him letter,
which | read to the President, who told me that
he would consult you and his Cabinet and am
told by the Secretary of State that he prefers
that you should make the acceptance, as the pay
ment moro properly devolves on your depart
ment.
81 would therefore urge your immediate at
tention to this matter, and beg to submit few
reasons why you should make the acceptance:
g First. We will allow the United States a
premium Of Al per cent, which will save to the
United States two hundred and seventy thousand
dollars, and give you ninety thousand dollars
more than any previous offer.
"Second. 1t will enable you to anticipate the
payment, and thus save the interest, which on
the whole sum will be S540,000.
Third 1t will strengthen Herrera's govern
ment, who are our friends, and tend to defeat the
revolution contemplated by Santa Anna, who is
our enemy.
"Fourh As the money must be paid when due,
the Mexican government can sell to the agents Of
the Barings or the Rothschilds; and therefore the
effect of your refusal to accept will be to defeat
tlo nand;n0 paootiotion and force tho Mpxicon
government to sell to foreign bankers at greater
discount, instead of selling to Americans at q
reasonable rate.
"FYM. If you accept, you serve our friends in
Mexico, and give to Americans, instead of for
eigners, the profits of the contract.
SlrH As the acceptance is to pay at the plea
sure of the government of the United States, the
time of payment will be as much under your con-
troll as if you had not accepted. An early
answer will greatly oblige
"Yours, truly, DUFF GREEN"
General Taylor and Mr. Clayton Immediately
approved Of the arrangement we proposed but
would enter into no contract, because they con-
sdered that the Executive had no authority to
make any contract on the subject previous to m
appropriation by Congress. They assured us,
however, that if Mr.. Marks would 60 to Mexico
and assist or act in concert with Mr. Letcher, so
as to obtain the terms proposed, they would ask
Congress for the authority and. appropriation to
perfect such an arrangement. (See letter of Hon
John NJ. Clayton to Hon. II. A. Bullard, dated
Dec. 10, 1850, appended to the enclosed memo
rial.) On this assurance, Mr. Marks returned to
Mexico, and submitted our plan to the Mexican
government, which gladly seized upon the
opportunity of saving so large sum to the Mexi-
can treasury, and also of strengthening itself in
the confidence and affections Of the Mexican peo.
pie, by raising money at per cent. only--a ne
gotation not usual with that government, but
which the arrangement we proposed would have
enabled it to make. 1t is here proper to remark