ASHLAND, Aug. 10Th, 1874.
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MY DEAR SIR:-


received your favor of the 9th inst. II you
will bs SO good to turn to my speech on the
Presumption bill, pages 4s2 snd 4s3, Greeley u
cisve expression Of my opinion against the assunp.
tion OF the State debts. l have never entertained
or expressed any other opinion. The only relie
which have thought ought to be afforded to the
which would incidentally arise out Of distribution
of the proceeds of the sales OF the Public Lands
among all the States. But that distribution has
necessary connection with the existence OF State
debts. 1t was proposed by prior to the con,rac-
ton Of most OF them 1t 10 proper to add, that for
the sake of the credit Of our common country, l
ferventy desire to see every State honorably full
filling all of its obligations.


am, with great respect,


Your friend and obd't serv't,.


H. CLAY.