The Sun.
London, England, 1845-08-25 00:00:00

TEXAN BONDS AND LANDS.

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NE*. :ORMAN'S, JULY 14.—Texas lands are in de-
mand, firtintilarly those held by Mexican titles ; but
Texas Treasury notes and bonds have not advanced,
noris there anything doing in them at any price. They
are quoted thus in New Orleans :—Red Buck, 13c.
to 14c. on the dollar ; Interest Notes, 15c. to 16c. ;
Bonds, 8 per cent., 19c. to 20c. ; Bonds, 10 per
cent., 20c. to 21e. The Red Bucks are notes first
issued by the Government, and they bear no inte-
rest ; they began to depreciate, and notes bearing
interest of ten per cent. were next issued to prevent
depreciation, and a law was enacted alloWing
holders of the first issue to fund their notes and
take bonds drawing ten per cent. interest. The
next year the law was changed, and only eight per cent.
was allowed. The various issues of the Government
may be safely estimated at ten millions of dollars. Nor
is it true that this debt will„be paid by Texas immediately
on its annexation to the United States. These promis-
sory notes and bonds are the last thing that will be paid.
There are very many individual claims which will be
promptly paid by the Government—to wit, supplies
for the army, money advanced, personal ser-
vices, &c. These stand as debts against the
Government, nor have they been liquidated by
bills or bonds. The Government will, in all pro-
bability, never pay more than ten cents on the dollar
on these bonds and bills, and that too for the reason
that the Government and people never received even
that amount for them. They are chiefly held by brokers
and speculators in New Orleans, who wrung them from
the oppressed Government end its: poor people for the
amount of from three to eight cents per dollar, and the
Government will doubtless pay what they justly owe,
and no more. Is it right or just they should ?
The brokers have tried many ways to secure their
Texas claims to the full amount on the face of them, but
they will never succeed. It is now a conceded point
that some persons were bribed by certain persons by an
offer of 30 per cent. on the amount of the debt, if they
would cause it to be stipulated in the articles of annexa-
tion that the United States should pay the Texas debt.
One treaty was drawn up for this purpose, but it was
not ratified. Persons then commenced negotiations else-
where, and thought they could lull the people of Texas
by offering them another boon, but it would not do, the
people discovered their schemes.
In Texas a national debt is truly and practically a na-
tional blessing, and I will demonstrate it. About nine-
tenths of the people have not as yet received from the
General Land-office the titles to their lands. The land-
office expenses will amount to an average of about fifty
dollars each. These old notes and bonds are received at
par value—fifty dollars of them can be bought with seven
dollars par money—so that the person, while he is only
paying seven dollars in par money, is really paying fifty
dollars of the Government debt, but if any other nation
was to assume the debt, it would raise the money to par
value, and the citizen would have to pay fifty dollars
in par money, and, instead of the Government getting
any benefit from the remaining forty-three dollars, it
would go to brokers and bond- holders, and the Govern-
ment would get no more than if it was only ten cents
per dollar. It is not true that each dollar is good for
one acre of land—it is true that you can enter land at
two dollars per acre, but then you must pay for location,
surveying, &c., in good money. It is not here as in the
United States: here the Government pays for no sur-
veying or any other expense—all is paid by the locator.
It is true that a Bill was introduced in Congress
(and passed) by that talented, patriotic statesman, D.
S. Kaufman, appropriating a portion of land to pay
the public debt, but it is only to pay it as it was
issued, say ten cents. per dollar. Major Kaufman has
ever been foremost in the cause of integrity and pa-
triotism, and Texas is more indebted to him for an-
nexation than to all her other politicians to-
gether. Major Kaufman is in Congress, and the
people of Texas are thereby deprived of his great talents
in the Convention. But there are some few men of fine
talents in the Convention. General Rusk, Colonel
Love, Colonel Mayfield, Volney Howard, Esq., Go-
vernor H. G. Runnells, General Darnell, Colonel Hogg,
Charles S. Taylor, Esq. These are the only men of
talent in the Convention, but the small fry are nume-
rous, such as county court lawyers; justices of the peace,
and quondam judges.

PRIZE MONEY for the CAPTURE

OF SLAVERS.

THE MADAGASCAR.-CapteLD Foote, the officers, and
crew late of the Madagascar frigate, will have the fol-
lowing sums of prize money, amounting to 1,5781., paid
on and after the 28th instant, for the under-mentioned
captures .-
For the capture of the Brazilian slave brigantine In-
dependencia on the Bth of August, 1843, 521/. 12s. Bd.
Captain, 65L 4s. Id. ; first 'class, 8/. 19s. 9d. ; second,
51. 7s. 10(1. ; third, 2L 13s. .11d. ; fourth, 11. 15s. I ld. ;
fifth, 17s. lid. ; sixth, Ils. I Id. ; seventh, ss. Ild.
For the capture of the Brazilian slave brigantine
I4o:ena, Fclicio Gomez, master, on the Ist of
November, 1843, tonnage, bounty, and moiety of the
proceeds, 4831. 10s. Captain, 60L Bs. 9d. ; first class,
81. 12s. ld. ; second, 51. 3s. 3d. ; third, 2/. 1 ls. 7d. ;
fourth, 11. 14s. sd. ; fifth, 17e. 2d. ; sixth, 1 la. sd. ;
seventh, ss. Bd. Fur the capture of a slave schooner,
name unknown, on the 13th August, 1842, tonnage,
bounty, and estimated value, 1601. 19s. ; captain,
20/. 2s. 4d. ; first class, 21. 9s. 9d. ; second, 2/. Is. 3d. ;
third, 11. Os. 7d. ; fourth, 13s. 9.1, ; fifth, 6s. 10d.; sixth,
4s. 7d.; seventh, 2s. 3d. Fur the capture of the Spanish
slave brigantine Roberto, Antonio Marquis, master, on
the 11 th August, 1842, tonnage bounty 4121. 2s. 2d. ;
captain, 51/. 10s. 7d. ; first class, 81. 15s 6d. ; second,
51. ss. 3d. ; third, 2/. 12s. 7d. ; fourth, 11. 15s. ld.; fifth,
17s. 6d. ; sixth, l ls. Bd. ; seventh, sa. 10d.
THE MADAGASCAR AND THE HEROINE.-The officers
and crews of this frigate and brig jointly share in the
capture of the Brazilian slave brigantine Imperatriz, Jose
Maria Pereira master, on the 12th November, 1843. The
following are the proportions for each class of each
vessel :-For the Madagascar, captain, 211. 13s. Bd. ;
first class, 2/. Bs. 6d. ; second, 11. 9s. Id. ; third, 14s.
6d. ; fourth, 9s. Bd. ; fifth, 4s. 10d, ; sixth, 3s. 2d, ;
seventh, Is. 7d. For the Heroine. the commander shares
as first class, 21. lls. Bd., and the other classes in pi o-
portion,