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L.S.[4?]

3. The Government debt
"That Messrs Huntington, Hubbard and
Bretherton be appointed a committee to watch
the proceedings in Congress relating to the extension
and adjustment of the government debt, and
to prepare such measures as they may
think fit in relation to such matters, with
power to employ counsel, and make such
further expenditures as may be necessary
and proper."

Reason.
The substance of Senators Frye's bill
on which all proposed legislature is based
is to seize the rent now paid by the [Southern?]
to the Central in whole or in part and apply it to the Government
debt. My own opinion is that we
should do better by cancelling the lease,
stopping the dividends, and letting
the Government do what they please than
by allowing the [Southern?] to become the
intermediary of the settlement: but on a
matter of such importance I do not