The New York herald., 1868-02-10
Precaution. Asnins, FenIan Raids.
PENNSYLVANIA FINANCES.

Racy Correspond dencc-yIessrs. Rothschiid.
August Belmont and the State Treasurer of
Penusvivanin on tho Payment Of the state
Stock In Currency.
The folio wing correspondence explains Nsslf:-
NEw YORK, Jan. 70, 1868
To THE TREASURER THE Stats or PnsssYLvAsA:-
We have received from Aessrs. " kolhschid
Sons Of London. $50 10 Penusylvania State tive
per cent stock, which we send to Philadelphia for
asmption 70 be followed In few days BY further lot
Besides these Messrs RothschId hold about 5000 900
more Of stock already overdue and becoming due this
ys. Issss gentlemen .s a'a1 10 eompn Of she injustice
ts creditors to accept payment In deprecated cur.
rency and have instructed US to receive payment only
They would, however prefer to hold the stock, IL an
arrangement could be made with your Stale for con-
now il Compelled to do SO By aiscon.iuusncs Of The In
We have written the Farmers aud Mechanics
National Bank OF Philadelphia TO confer with you on
this subject before accepting payment, ana We beg you
will give this matter your consideration and let
us know whether An extension "a desired by Msssrs.
Rothschid IS possible Hoping soon 70 hear from you,
AUGUsT BELMONT CO.
HARRISBURG, Jan. go 1868.
Messrs AUGUST BELMoST Co., New York.
GEsrLsMEs-ln reply TO your note Of the 2Stn, beg
to say that arrangement can be made by which the
Msssra Rothschd can retain the old loan now overdue
and continue 10 draw interest on It.
You state that should no arrangement be made You
will be compelled TO acceps payment under protest TO
this have not the slightest objection Your COM
plants about the injustice OF not payng you in gold
may seem just to you but to us they seem ridiculous.
Ihave 90 doubt Aessrs. August Belmont 4 Co. had
many liabilities out. when the legal tender act was
passed, which became due after gold had risen TO
premium OF eighty. have not yet heard OF their con-
legal tender. We are willing 70 give you the pound Of
flesh. but not one drop of Christian blood Respect
fully W. II. KEMBLE, State Treasurer.
NEw YORK Feb T. 1868
SrRI have TO acknowledge the receipt OF your letter
Of the 9th ult, addressed % my houss In reply 70 our
adj "
ment of tho Pennsylvania State stock now due, under
protest In case the State should not pay the principal in
coin, and case arrangement could be effected hav
ing In view continuation OF tho interest and an OK.
tension Of the time OF redemption OF the capital.
Messrs Rothschd act in this matter as trust ccs Of
the holders Of the debsntures of the late United States
Bank Of Pennsylvania, residing In England and on the
With the anca transactions of States and nd,vduas
that must know that by these debentures hundreds
Of widows ana orphans have been reduced TO beggary
Messrs Rohscnid, In trying 70 rave for Their con-
stitucnts all they can out Of the wreck have made
through my house application which they as well as
deem just equitable and this application was
made In q courteous and respectful: manner. In so
doing Nessrs. Rothschld have evnced new proof, u
was wanted, OF their strict and honorable appreca
OF the obligations assumed by them as trustees for
the innocent holders OF tho most disastrous security
ever negotiated by their house, negotiation based
PRINCIPALLY upon the faith OF the state OF pennsylvania
and is great banking institution.
Your reference TO tho liabilities OF my house. con-
acIed n com and assumed by you to have been paid In
currency, as impernen as II unture in point OF
fact August Belmont Co. have never declined 10
meet any demand for the pay ment In oon OF any Liability
contracted by them IN coin, before or snce the esa
tender act.
II they had adopted the towards their creditors
which you propose TO take on behalf OF tho State OF
towards her unfortunate creditors repre-
sented by the Messs Rothschd there migh have been
some for the lack OF courtesy which yCu have
exhibited IN your letter TO them.
In conclusion take this opportunity 10 express my
regret that Of pennsylvania should have fol
its Treasurer person who could far disgrace She state
he represent, and forget tho dignity Of the
Office he holds US to reply 10 CIVIL business communi
cation which must raise the blush OF shame
on the cheek every citizen Of that great and
State am your 0bedient servant
AUGUST BELMONT.
WILLIAM r. KsSBtE, Esq, State Treasurer OF the state
Of Pelusylvania. Harrisburg