J. H. Fonda to Richard Yates

Mechanics' Banking Association,

New York, July 11th 1864.

To

His Excellency Rich. Yates

Governor of Illinois

Sir

Referring to your letter dated March 7th 1864, addressed to W.M. Vermilye Esq. - (then acting as President pro-tem of this Bank,) I beg to say, that the object of Mr. Vermilye, in seeking the information therein contained, was simply, to verify the position held by your State Officers, in the matter of the appropriation for retiring the "W. Alister & Stebbins Bonds".

Since the receipt of your favor, our late President - Mr. Freeman - who had the Charge of this matter has returned from Europe, and resigned his office.

Having been recently elected President, in the room of Mr. Freeman, I beg to offer to your Excellency, the disposition of this Bank to effect some settlement of the vexed question Concerning these Bonds.

At a recent interview with Hon A Starne Treasurer of your State, I mentioned to him that our Board of Directors do not feel willing to accept the terms offered by your Excellency's letter, above referred to.

The established policy of the United States, is to pay coin for their matured indebtedness, and I ventured to suggest to Mr. S. a similar measure in the instance before us.

Should this course be acceptable to your Fund - Commissioners, I sincerely believe that I could bring about a final settlement of these Bonds, and, I have no doubt,

of the other Bonds embraced in the provision of law mentioned in your letter.

Be pleased to consider this, and favor me with a reply at your earliest Convenience.

Very respectfully

Your obed Servt

J. H. Fonda

P.s

Fonda J H.

New York July 11 1864.

McAlester & Stebbens Bonds.

Ansd July 26th 1864.

Hirshbach

Look up "Vermilyes'es letter & return to me with this.

Be particular to do this on Monday.