In consequence of the failure of all the indebt
ed stales to provide for tho payment of their in
terest, much disappointment has been manifested
here, and all think the less they have to do with
us the better. Though money is a drug here,
still people will not willingly part with it unless
they see somo manifestation of a disposition to
pay. It is time for ua to commence paying if we
ever intend to, and the legislatures that have re
cently adjourned and failed to provide for their
interest, would find it difficult, I imagine, to exone
rate themselves by any strict rule of justice. The
public mind here is like the system of a diseased
patient, alTected by tho slightest cause. Every
unfavorable piece of new from America, has a
tendency to excite it unfavorably. If there had
been any action to encourage the belief that there
waa a disposition to pny by tho indebted sintes,
there would not have been the slightest difficulty
in bringing to a successful termination the present
negotiation. But it has becomo popular here
aiiu to decry the American states, and I admit
with so much cause, that the strong current of op
position is very hard to atem. It is a moslliumi
lialing conviction to know that a sovereign stttc,
though alio olS rs undoubted security, should be
treated like a disgraced bankrupt, in the market
"Pity 'tis, and 'tis. pity 'tis true." I hope Illi
nois, if she ever eincrgrs from this unfortunate
position, will hereafter be wise enough to guard
against any possibility of being again brought in
to so disgraceful a dilemma. 1
The delay that has been caused i much to be
regretted, but there could have been no possibility
of preventing it, ijhort of different legislation. It
would be impossible to say what the result will be,
or when it will be known. All is doing that ran
be dune to secure the success of the negotiation.
