“ Among these holders was General James Hamilton, a person of some political influence in his day, and who had been instrumental in procuring the admission of Texas into the Union. As the Bank of the United States would gain largely if the United States did so assume the debt, Hamilton applied to its trustees-the bank having itself failed, and assigned its effects-urging them to employ him to have it done ”

“ The trustees communicated the agreement fully to Wetmore, September 16th, 1850, without mentioning the original limitation, and directing him to 'hold subject to the order of Hamilton, one-tenth of any sum over and above his claim against the said bonds.' Wetmore acknowledged the receipt of this order, and promised to hold the bonds accordingly.
Through his, Hamilton's, efforts, largely, Congress, by an act of 9th September, 1850, did assume the payment of this debt, and authorized a five per cent. stock of the United States to be issued in lieu of the bonds of Texas ”

“ Leaving as Hamilton's true one-tenth, $69,720 58In this state of things-and when if Wetmore had been allowed to distribute the one-tenth of Hamilton, or his one-tenth less the bank's last-named deduction, it would have paid Hill, as well as Wetmore and Corcoran & Riggs, all in full-one Spain filed a bill against Wetmore, Corcoran, & Riggs, and the trustees of the bank, Hill not being by name made a defendant, charging that Wetmore had the $81,772.08 as the property of Hamilton, and that he, Spain, had an assignment of the whole fund made by Hamilton at an early date. ”