"8 WALL STREET, N. Y., _March 25th, 1875_.
"MY DEAR FRIEND,--Ralph Waldo Emerson says: 'When a man is in pursuit
of the absolute truth every spear of grass is with him.' And an old
book that is sometimes seen in families down this way (and which, if by
chance there is a copy near the capitol, I commend to your respectful
consideration) says, 'The stars in their courses fought against Sisera'
because he was wrong.
"I am impelled to write thus much because I see your great opportunity
and your great danger in the matter of the Canal Ring.
"I have no fear of their _fight_ against you, for then you would be on
your mettle and on your guard; but I fear and write to warn you against
their _conditional surrender_.
"If they come into your camp on any other terms than 'unconditional
surrender' you will be subjected to the danger of treachery and to that
other condition that brought poor, honest Tray to grief.
"Make your fight as Andy Jackson used to for unconditional conquest or
hopeless defeat, and you are all right.
"I hear much talk, and what I fear is less constrained and politic than
what is spoken for your ears.
"I hope you saw the Albany letter of the _Sun_ of to-day, and also the
_Tribune_ editorial; they are encouraging.
"Hurrah for young Hickory forever!
"Yours Truly and forever,
"W. W. NILES."