DAVID DOWS TO TILDEN

"April 22d, 1881.

"Dear Governor,—Your note of this date rec'd. I am very much obliged to you for it.

"I think you have acted judiciously, not that I think the bonds unsafe, but I think the chances are that they will decline in price.

"Your note will be regarded as you request and again thanking you for it,

"I am, y'r friend,
"David Dows."