cause of the primitive character of their revenue system and the urgency of their needs, credit must be the sole recourse for means to secure military equipment, stores, and subsistence. The only depot of such supplies ready at hand—if it should be found available to them—was the establishment of the Hudson Bay Company at Fort Vancouver. Thither the loan commissioners immediately repaired and made their application for a loan, emphasizing the point that in the light of all precedents the National Government would not fail to assume all obligations incurred in the campaign undertaken. But the Chief Factor had no authority to deal in public securities[1] and would have been compelled to refuse a loan had the commissioners been accredited to him by the United States Government itself. The loan commissioners were apprehensive of this, and in their application suggested a loan on private security as a minor alternative. On a note given by the Governor of the Territory and two of the commissioners as private individuals about a thousand dollars were received with which an outfit for the advance guard was obtained.[2]
Appeal was then made to the merchants and citizens of Oregon City, from whom some $2,600 were secured.[3] The Oregon Mission (Methodist) gave an additional $1,000. The loans could be either of gold and silver "or such goods as may be necessary for the use of the army."[4] And, as later provided, when a new commission was appointed, it was given power "to appoint appraisers whenever it shall be necessary to affix the cash value of any article or articles which may be accepted by them for the use of the Government."[5]
