When this draft
was presented by the holder with the credentials required by the treaty
to authorize him to receive the money, the Government of France allowed
it to be protested. In addition to the injury in the nonpayment of the
money by France, conformably to her engagement, the United States were
exposed to a heavy claim on the part of the bank under pretense of
damages, in satisfaction of which that institution seized upon and still
retains an equal amount of the public money. Congress was in session
when the decision of the Chambers reached Washington, and an immediate
communication of this apparently final decision of France not to fulfill
the stipulations of the treaty was the course naturally to be expected
from the President. The deep tone of dissatisfaction which pervaded the
public mind and the correspondent excitement produced in Congress by
only a general knowledge of the result rendered it more than probable
that a resort to immediate measures of redress would be the consequence
of calling the attention of that body to the subject. Sincerely desirous
of preserving the pacific relations which had so long existed between
the two countries, I was anxious to avoid this course if I could be
satisfied that by doing so neither the interests nor the honor of my
country would be compromitted.
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