The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1868-03-04
Spicy Corresponds Pennsylva-
|. MIA and the Rothschilds. Mr.,
Belmont and the Pennsylvania
I Treasurer.

Belmont and the Pennsylvania
Treasurer.
The following correspondence explains
Itself:
To the Treasurer Of the State Of Penn:
4 We have received from Alessrs. N. M
Rothschilds & sons, London, $l,90,866 II
! Pennsylvania 5 per cent. stock which WI
| sent to Philadelphia for redemption, to b.
followed in q few days BY further lot o
i 100000. Besides these, Messrs. Roths
I child hold about 100000 more Of stocl
already overdue and becoming due tbi
year. These gentlemen again complain o
1.-THE injustice Of the action Of the State O
! Pennsylvania in forcing its creditors to &c
s|cept payment in a deprecated currency
and have instructed US to receive payment
only under protest as heretofore. They
would however, prefer to hold the stock i
an arrangement could be made with your
State for continuation Of the loan ani
will only accept payment If compelled to
do 80 bya discontinuance Of the interest
We have written to the Farmers and Me
chanics' National Bank Of Philadelphia to
confer with you on this subject before &C.
cepting payment, and we beg you will give
this matter your serions consideration, and
let US know whether an extension as de.
sired BY Messrs. Rothschilds is possible.
Hoping soon to hear from you, We 70.
main respectfully yours,
AUG. BELMONT& co.
New York, January %, 1868.
Messrs. August Belmont 4 Co:
| GENTLEMEN In reply to your note Of
the 18th, beg to say that no arrangement
can be made BY which the Messrs. Roths-
child can retain the old loan (now cverdue)
and continue to draw interest on it. You
state that should no arrangement be made,
you will be compelled to accept payment
under protest To this we have not the
I slightest objection. Your complaints
about the injustice Of our not paying you in
gold may seem just to you, bnt to Us they
seem ridiculous. have no doubt Messrs.
August Belmont & Co. had many liabili-
ties out when the legal-tender act was pas
sed, which became due and gold had risen
to premium Of 80. / have. not heard Of
their conscience compelling Them to pay 10
gold, instead Of legal-tender. We are will
ing to give you the pound OF flesh, but not
one drop OF Christian blood. Respect
fully,
w. q. KEMBLE. State Treasurer.
HARR1sBuRG, Jan. 30, 1868.
SIR ! have to acknowledge the receipt
Of your letter Of Both ult., addressed to my
house, in reply to our application on behalf
Of Messrs. n. NJ. Rothschild & Sons, Of
London, who had instructed Us to receive
payment Of the Pennsylvania State stock
now due under protest in case the State
should not pay the principal in coin, and
in case no arrangement could be made hav-
ing in view q continuation Of the interest
and an extension Of the time of redemption
iof the capital Messrs. Rothschilds oct in
this matter as trustees OF the holders Of the
debentures ofthe late United States Bank
Pennsylvania, residing In England and on
the Continent Of Europe. You seem 90
well acquainted with the financial transac.
tions OF States end individuals that you
must know that by these debentures hun
dreds Of widows and orphans have been
reduced to beggary. Messrs. Rothschilds.
in trying to save for their constituents all
they can out Of the wreck, have made,
through my house, an application which
they, as well as I, deem just and equitable,
and this application was made il 1 courte-
GUS and respectful manner. In 30 doing
Messrs. Rothschilds have evinced new
proof, il any was wanted, sof their strict and
honorable appreciation of the obligations
assumed by them as trustees for the inno-
cent holders Of the most disastrous security
ever negotiated by their house, \ negotia-
ton based principally npon the faith Of
the State Of Pennsylvania and its great
banking institution.
Your reference to the liabilities Of my
house, contracted in coin and assumed b.
you to have been paid in currency, is as
impertinent az it is untrue in point Of fact.
August Belmont l. Co. have never de-
clined to meet any demand for the payment
in coin Of any liability contracted By them
/ in coin. before or since the legal.tender act.
II they had adopted the course toward their
creditors which you propose TO take on be-
half Of the State Of Pennsylvania toward
her unfortunate creditors represented by
the Messrs. Rothschilds, there might have
been some excuse for the lack of courtesy
which you have exhibited in your letters
Ito them.
In conclusion, / take this opportunity
to express my regret that the State Of
Pennsylvania should have for it's Treasurer
o person who could so far disgrace the
State he assumes to represent and forget
the dignity Of the Office he holds, Is to re-
|ply to q civil business Communication 10
manner which must raise the blush Of shame
on the cheek Of, every citizen Of that great
and honored State.
I am your 0bedient servant,
AUGUST BELMONT.
William H. Kemble, ESQ.,, State Treas
urer Of the Statoso Pennsylvania, Harris
burg.
New YoRx, February 4, 1868.
STICK POMATUMI
FRAGRANT And CHEAP
% cts. per stick. at
II O. InTJNI ~