The Evansville daily journal., 1857-09-02

mos. important enterprise-pcrmitted libel
upon its own citizens who were laboring for
its welfare-and was swayed by the narrow
and inconclusive views Of such production
were incapable of great undertakings and
were not likely to prosper in any great pub
lie work, whatever the elements of success
might be- And my chief difficulty, my fell
citizens, in accomplishing my purposes,
was to remove the unfavorable stigma fixed
upon the reputation of your city, in the
minds of strangers, by this strange and inju- |
dicious publication. Without passion or feel |
ings of resentment on my part, declare to
you, my honest and sincere opinion, that
million would not repair the damage done by
that unfortunate attack, to the interests,
character and prosperity of your city.
rINAL CONTRACT.
That it did not affect my own character
and credit with those with whom was ne
gotiating, and to whom it was addressed, is
proven by the fact, that though they with
drew the overtures previously made to me to
take the bonds Of the road for the iron and
duties, they Immediately proposed to sell me
the iron, on my own individual paper on long
time. Capitalists are every where timid and
suspicious, and especially distrustful of a
distant enterprise of which they can have
but an imperfect knowledge, and no imme-
diate oversight. The Expose had raised a
doubt in regard to the character ofour people,
the road and the corporation, but the letters
Of credit carried from the most eminent
commercial men OF the country, were i'm
pregnablc.
declined the offer of the iron on my own
paper, as did not think justice to myselfo or
my family would permit me to assume so
formidable debt for public work in which
others had as much interest as myself
They then proposed to take the Company's
bonds for one-half the iron, and my notes
for the balance, which was rejected. The
negotiations finally resulted in conditional
contract to deliver the iron for 100000 Of
the railroad bonds, slOO, 900 real estate bonds,
and 100000 Evansville city bonds, with u
stipulation that should give my obligation
to pay the coupons on all these bonds annu-
ally, in case the corporations should fail to
pay them. This onerous condition finally
accepted, and was to become personally re-
sponsible for the interest on the cost of the
IRON, amounting to some S25, 900 or $4,000
year. The iron was to be delivered, with
duties and freight paid.
CAUSE OF FINAL FAILURE.
With this contract left England, and on
arriving in New York addressed a letter to
! be presented by Mr.. Allis to the City Council
! of Evansville, asking them to issue the bonds
to the Road, pledging myself to give security
that the road should be completed within
eighteen months, or would return the bonds;
, and in case they were used, would myself
pay tie first six months interest.
) For reasons which the citizens of Evans
vile will one day call them to an account,
, the members of the City Council refused to
give the bonds to the road, and the result OF
all my labors and anxieties during my jour
ney, was defeatcd;- the bargain had nego-
tiated with so much difficulty, and on terms
highly advantageous to the road, was COM
PEELED, reluctantly to abandon. My journey
I, was thus made abortive.
, have been asked why did not come i'm
mediately home to Evansville, on my arrival
in New York, and explain to my fellow-citi-
a zens the exact state of the negotiation. 1t il
0 known to oil that have assumed heavy liza
bilities for the road, as contractor. After an
absence of several months, these liabilitie.
D demanded my earnest and immediate atten-
9 ton, on my arrival in New York. They
4 could not be neglected without involving my
private credit, which was as essenta! to the
5 road that should preserve, as it wss to ge
{ the iron. could not, therefore, come hom,
Z to explain the position and condition of tn,
: contract.
;, If had been few days earlier in Paris,
d should have succeeded in etfecting sale o
l. the bonds on most advantageous terms.
!, If it had not been for the discredit anC
J, doubt thrown upon the road and city, by tn,
0 circulation of Mr.. Ingle's ISLANDERS amonl
l. those with whom was negotiating, the iror
would have been obtained from the Welsl
g iron masters, on the terms of the first under
s standing,-for the mortgage bonds alone. l
:. the city had issued her bonds as asked, t,
II help ME fulfil the second contract, the irol
). would now have been on its way across th
u Atlantic.
Mr.. Ingle pretends to have acted under
" conscientious sense ofduty. If this were tn
case-had he not fulfilled it by publishin,
IL his warning to his fellow citizens at homel-
8 Was it necessary to pursue q neighbor will
y libels and ISLANDERS across the Atlantici Wa
II he afraid that the wealthy English Iron mas
te. would be ruined by investing half
L million dollars among you, my fellow citi
: zens, and giving you the use of it for twent
1t yearsa What his motives were, will one da
. be revealed to you, and lin your days Of calm
IL er reflection hereafter, you will award to hir
! his deserts, and do justice to me and my mo
"a tives.
PRESENT PROSPECTS,.
Il Notwithstanding all the disappointment,
r snd obstacles hare encountered, am no
10 disheartened nor defeated. l am confident
y final triumph. have new arrangement
ID now existing for the iron which can still pro
Is cure on the securities Of the road. All nee
1 to secure it, is the money to pay the dutie
r and freight. The amount needed is one hun
IL dred and twenty-f thousand dollars. Sine
g cannot obtain the city bonds, the contrac
tors have resolved on offering the ninet
thousand acres of good land transferred I,
A. them, at auction, early in November, for cas-