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198 of the enterprise, they proceeded to New York, in the month of March, 1824, for the purpose of forming a company for defraying the expenses of such a work; that, having formed the company, which consisted of some of the strongest [that was their expression] houses of the northern federation, they returned to the Central Republic with an armed brig; on board of which they brought engineers to level the grounds and survey the lake of Nicaragua and St. John's river." The letter continues, "We, having dispatched the said brig to her destination, at the end of last December, and being now about to proceed by land in order to examine the local situations of the territory, pray this government, in consideration of the advances already made, and the advantageous nature of the subjoined propositions (than which, we believe, none more favourable can be offered to this republic) to secure to us their realization, by granting the exclusive privileges which we solicit." The terms proposed to