Daily evening star. [volume] (Washington [D.C.]) 1852-1854, 1853-09-30
Washington News and GOSSIP.

rotary of the Treasury, an elaborate and care
fully weighed opinion upon the law questions
involved in the demand of General James
Hamilton, that the present Administration
shall set aside the decision Of Attorney GEN
eral Reverdy johnson, Secretary Corwin and
President Fillmore, whereby the United States
Government determined to withhold Sc, 600, 900
of the Texas indemnity until Texas obtained
the release from her creditors required by the
law, or Mt least intended to be so required by
the trainers of the law, as all we'll know who
are conversant with the history of that act.
The whole subject is now said to be in the
hands of the President who is revising the ac-
ton of his subordinates. We cannot give
even a probable guess as to what his decision
will be, though the world will have it, doubt
less. very shortly. A very useful lesson con-
corning the wireing in and wireing out Of
financial speculations, however, may be drawn
from this case. General Hamilton is the rep
resentative of the bonds held by the defunct
United States Bank, of those of old MIR. Hol-
ford the London banker of immense wealth,
and of those of the bank of the State of Ala
bama. 1t seems to be understood in the
neighborhood of Austin, Texas, that the Cen
eral drew up the Objectionable scaling statute,
by which the United States bank are to be
paid 81 100, 900 for what cost them $3.50, 900
at time when the stocks of even the State of
Virginia were worth no more than fifty cents
on the dollar-and the excellent lady in this
city who was paid in Texas bonds for boarding
the penniless Texas minister, is to be fobbed
off with e few pennies on the dollar.
According to this beautiful scaling, these
heavy claims represented by Gen. Hamilton,
with those in the hands Of Texans competent
to WELD influence with their legislature, are
to be paid about 80 cents on the dollar, while
most of her claimants are to be paid rs they
are to pay the lady boarding house keeper.
1t was grand fnanciering to engineer such
proposition through the Texas legislature, but
it will be a grander operation to make it
stick-to persuade the American Government
to leap over the purpose of Congress in voting
the ten millions to Texas, which was 10 enable
her to pay the honest debts, of the means of
by the act of annexation; or to persuade her
thousands of small creditors so shamefully
plundered in the scaling law, to give up their
rights for song, that the United States Bank
Holford, the London banker, and the Bank of
the State Of Alabama ct nj may get much
more than one hundred per cent on their
original investment. When the excellent and
talented General brings about either of these
remarkable events or when the Legislature
of Texas consents to pay some $4,000 or
$50, 600 to make good the loss of tho money
for which the (Nirginia) Kanawa bonds were
sold, under the allegation that that money
was once on time used to bride French
Minister of State for the benefit of Texas in
her days of independence, we shall begin to
think that the days of a return to South-sea
inanceering are much nearer at hand than
they were when the General negotiated his
never to be forgotten loan in Europe, which
Texas wisely rejected twas our fortune to
be citizen of Texas at that time, and we
share to prick thut bubble. The General sent
thither dispatch announcing that he had
obtained 5000, 900 for Texas at a discount of
20 cents on the dollar, the Republic to pay an
interest on it of 10 per cent per annum.-
These were the terms near as we can rec
ollect This announcement was accompanied
with the General grand scheme for using the
money. 1t was to be put into State bank
to be loaned out on wild lands or some such
security to the thousands on thousands
of needy Spectators of the Republic.
This scheme named the proper persons to
be charged with the proper management of
this smashing concern, who were no others
than Mr.. Sam. Jaudon and his compeers of
mail bringing the news of the Generals sue
cess in negotiating the loan and the scheme
for disposing of the money, also brought to
Texas the famous report of the committee of
stockholders, exposing the Wholesale robbery
and swindling perpetratcd in their charge by
these officers of the U. S. Bank in whose hands
the General recommended Texas to place this
money, of course in ignorance of tho peculiar
character of their turn for fnanciering, as
shown up in the report aforesaid. We placed
tho Generals scheme on the inside of our
newspaper--the Colorado Gazette aud Adrer-
hser, published at Matagora-the report of
the examining stockholders above mentioned
on the outside, and accompanied them with
three or four columns of sound comments upon
the folly Of borrowing money at 20 per cent.
discount and 10 Per cent. interest, to be
placed in the hands of the Jaudons and Cop
perthwaites of the just dead United States
Bank, of Pennsylvania, to be loaned ont to
veriest set of penniless: characterless, reck-
less spectators unhung, on pledges Of land
which would not bring in cash ten cents on