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which two thousand dollars and five per interest
that In what kind OF money! In the current or
lawful money ofthe United States Why do say that the
bond and interest is be paid equal thousand
dollars the lawful money of the United Satesl Because
the bank only undertook 10 assign and transfer the bond
which binds the Safe pay only two thousand dollars IN
the lawful money of the United States. Now by the en-
dorsement the bank undertook pay the bond in London.
The amount of the bond is thousand dollars
parties the endorsement have said equal TO
four hundred and fifty pounds sterling of Great Bainesti
mating the pound sterling at "a A.


Let me distinctly my argument The statement
the endorsement that the oond and interest thousand
dollars and interest is equal hundred and fifty pounds
sterling constitutes absolute and unconditional promise
contract to pay pounds sterling. The parties the
dorsement merely agree that thousond dollars, the
amount of the bond equal four hundred and fifty pounds
sterling and cOnrerso four hundred and fifty pounds
ling equal to thousand dollars Now the State the
bank may discharge the bond in either currency and their
argument that certain in United States currency is
equal British currency does not bind them
pay Internationally in the latter currencyhe is equal
the very of their agreement contained
the endorsement therefore they may pay the bond in the
lawful money of the United States


His Exceency surely does say that the bonds
are altered that the words "current money the United
Sates expressed upon their face erased oberaed
and the word current pounds sterling of Great Br
tan substituted in their place. But suppose such the
terms expressed in the contract of endorsement-how
such contract affect the liability of the Sate2 The liability
rests upon the validity of her bonds She only response
BILE for what she has promised which is to be ascertain
ed from the promises bonds themselves She has bound
herself to pay five millions the money of the Uni
States and liable for much Its equivalent at the
place of payment, in pounds sterling.


AS to whether the of sale fraudulent
am not possession of such facts will enable
an opnion but the Legislature and the bank both having
all the facts before them, soemny ratified the sale it would
be violent presumption suppose they deliberately
toned fraud In every aspect which | capable OF
viewing this grave and important question: fully
ced that the State morally politically and legally bound
to discharge her bonds and redeem her plighed faith.


Yours respectfully,


CHARLES SCOTT