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have no security in his hands, whereas, should you send him new ones, and they were lost before coming into his hands, they might be immediately cancelled, bý your advertisement of them. You can further, if you please, make them payable to his order, so that, if they were stolen and negotiated, it would not avail the purchasers any thing. I would gladly pay the expense of sending a messenger with them, rather than not have them exchanged, if that were necessary, provided it could be done immediately, and Bonds of $1000 each, substituted for the present.
I would also suggest that as all the others have been exchanged during the current year, it might not do so well to exchange them after its expiration; and perhaps the resolution of the Legislature, authorizing the change, might not reach beyond the current year.
I regret the great trouble which my business has been to you, but it has been unavoidable on my part. I hope you will continue to view it charitably. Respectfully your ob't serv't,
JOHN A. PARKER."
A true copy of the original letter, the last received.
JEREMIAH GOODWIN, late Treasurer. February 5, 1840.
Office of Discount and Deposit of the Wool
Grower's Bank of the State of New York,
New York City, January 2, 1839. MR. JAMES B. CAHOON, Augusta, Me.
Dear Sir :-Yours of the 12th ult. inclosing the note of Messrs. Parker & Co. for $10,000, dated 12th December, 1838, on interest, is received.
Owing to an alteration in the time of the mail between
this place and New Haven, and yesterday being a holyday in this city, has prevented a reply until to-day.
Messrs. Parker & Co. have not paid the note, but solicited a loan and certificate of deposit of this Bank to meet the same, which it would be inexpedient to grant until an amount of bills for circulation are countersigned at Albany, and received for the general purposes of business; they have paid into the Bank ten thousand dollars five per cent. stock of the State of Maine, with the understanding that they shall have the first facilities it is enabled to grant, for the purposes of paying said note.
You are aware that this association has been formed recently, and that the new law presents some impediments to getting into active operation speedily, but you may rely on our best exertions to do so, and also to grant Messrs. Parker & Co. the accommodation desired, at the earliest day practicable. Yours, &c. respectfully,
M. W. WHITMAN, Cashier.
New York, Nov. 25, 1839. JEREMIAH GOODWIN, Esq. Treasurer of Maine.
Dear Sir Since my last to you I have been making every effort in my power to do something towards the payment of my notes to the State of Maine, but the very extraordinary condition of things which now exist, and have continued for a long time past without alleviation, taken along with the fact that I hold so large an amount of stocks, have rendered it impossible. If I were to sell stocks at present it would not place me in funds, as they would hardly sell for the amount borrowed upon them;
and to borrow money here now, at any rate, is out of the question. I am aware of the propriety of paying something, if possible, before you make your report to the Legislature, and am as anxious to do it as you can be to have me, but cannot under present circumstances. I hope you will not find it necessary to embrace the facts in your report, any further than simply to return my notes as bills receivable on hand. I wait for nothing but a change in the market, which will bring stock to a fair value, to enable me to redeem all my promises.
Not having heard from you since I last wrote you as President of the Wool Grower's Bank, in relation to the change of the certificates in the Comptroller's hands, I am induced again to solicit your immediate compliance with that request, and hope you will not deny it. As it is uncertain whether this may meet you at home, I have directed it under cover, to Mr. Cahoon, and sent a copy directed to you at Boston. Respectfully, your obedient servant,
JNO. A. PARKER. P. S. I am very desirous that if you exchange the stock as desired, that you should give us certificates of $1,000 each. I see no reason against it, and I have written to Mr. Cahoon explaining the advantage it will be to the Bank, and to me.
STATE OF MAINE.
The Committe on Finance, to which was re-committed an order in relation to certain notes in the Treasury, and the report of the Committee thereon, have had the same under consideration, and ask leave to report the following additional facts:
The five per cent. Stock at ten years, bearing date May 1, 1838, was sold to the house of Parker & Co., at ninety dollars on the one hundred, payments for which were made as follows, viz: August 13, cash,
$69,500 00 October 5,
25,000 00 9,
10,000 00 Nov. 5,
8,000 00 « 12, in notes,
20,500 00 Interest,
Making the amount received,
$153,444 02 The accumulated interest to the time of payment from May 1, was allowed to the purchasers, excepting on the $48,500 paid in November and December, on which they paid the interest from October 1, amounting to $444 02.
JOHN OTIS, Chairman.