Southern Argus., 1839-07-30
Correspondence Of the NfsO- York Express.
CONDITION OF TEXAS.
HousroN. Nav 13. 1e9a.

future prosperity. And among the mat
terS that demand attention, is the state o
the finances. The currency Of Texas
you well know, is not founded on specie
basis, but consists of Treasury notes, or
which, in the United States, there is now
about SO per cent discount. The whole
amount issued by Government is about
S1,098, ,453; about S196. ASP have been
received by the different collectors since
the law prohibited its reissue, thus leaving
in circulation 100000. The amount Of
funded debt redeemable at the plea sure OF
the Government after 1642, is S667 800.
The amount of Military Scrips, and all
other scrips in the hands of individuals, is
about S24s,000. Supposed claims for
services &c. against the Government, are
estimated at $4,000. Thus, exclusive Of
the annual expenses for the civil list. and
for Naval and Military expenses, the Ma
tional debt amounts to $I,s9O,e00. For
a country as large and as fertile as Texas,
this sum is comparatively small; and her
ability to meet it cannot be questioned.--
The specific resources to meet her debts
are estimated as follows, by the Secretary
of the Treasury:-
Imposts of duties for the present year
1854, 600; amounts which will be collec.
ted for land dues, S564,0OO; supposed
amounts of direct taxes, $25O,000; sale
OF lots in the city of Austin, $500, 600;
sale of lots on Galveston Island, $25O,OOO;
sale of lots in the City of Calhoun, $780,.
OO0-amounting in sum total TO $3,016,.
600. In addition to her other resources,
must be reckoned the public domain,
which consists of 160 millions of acres Of
land, most of which possess fertile soil,
and are in the most salubrious climates in
the world. The sale of this will Weld to
Government an immense amount of reYe-
nue.. Some idea may be formed of the
rate of emigration, from the increase of
imports, calculated from the port of GAL
weston alone. Previous to the 3Oth of
September, 1888, the whole amount of
import duties was only $I63, 3,637 but
during the last quarter only, there was col.
lected $4,000, nearly one third as much
as was collected in the same port for tho
two preceding years.
Gen. Hamilton of South Carolina, is, as
you are aware. the Commissioner, TO ne.
gotate the loan. He intends proceeding
directly to Europe, and we have but little
doubt of his success. He is known abroad
as financer, and the rate of interest that
Texas offers, is a strong inducement TO
foreign capitalists TO invest in her funds.
Already direct trade has been opened
from Galveston with Liverpool, England;
and in commercial view Texas is fast
rising into consequence with that nation.
One of the great staples of Texas will be
Cotton, and this will be shipped to England
to be exchanged for her manufactures.
The new administration under Gen. La.
mar, which has had the direction of affairs
since December last, continues popular,
and its measures will rebound greatly to
the credit of the country. In his manners
the President is unostentatious, always de.
meaning himself in plain republican style,
and devoting all his time with great ASST.
duty TO the duties of his Office. The line
Of policy he has undertaken will promote
the great interests of the country, and his
reputation as z statesman promises to rival
his fame as a soldier. He has called
around him an able cabinet, men of the
most exemplary character, and of high
order of talent. The political prospects
of our yong republic, are, on the whole,
of the most fattering character. No
dangers are now apprehended from the
Indians on the frontier, as the force now
IN the field is large enough to ensure pro-
lection, and measures have been taken bv
the War Department TO increase the mill
tary establishment; and place it on firm
footing, so that for the next two years,
there win always be men enough in the
field to protect all the frontier settlers
from Indian incursions. Emigrants from
abroad need not therefore delay their com.
ing on account of fears of border Difficult.
tes. 1t is not true either that every per-
son, the moment he steps foot in Texas is
liable TO be drafted 10 fl ght the Indians
Such is not the law. Citizens of the re.
public only are required TO do military du.
ty, and all the force now employed, con-
slsts of volunteers.
The District Court is now in session in
this city, and the regularity and decision
with which its proceedings are conducted,
would surprise many of the good people in
YOUR quarter, who have been told SO often
by some editors, that Texas was paradise
for rascals. The presiding Judge (B. C.
Franklin) would do credit to anv bench;
and would be distinguished in the highest
Courts of the United States. Crimes here
are prosecuted with activity, and the pun.
ishments vigorously enforced. Texas will
now contrast very favorably with the
Southwestern States.
The Seat of Government has been re.
moved to Austin, on the Colorado river.
This point possesses many advantages for
the Capital of the Republic. 1t is but
about 400 miles from Santa Fe, with
which place it is contemplated TO open a
trade. The site is in the heart of a beau.
tiful country, remarkable for its fertility
and healthiness; and the locality of the
city and its surrounding scenery is de-
scribed by those who have visited it, as
''beautiful exceedingly" The next Con-
gress will sit there, if the public buildings
are completed in season, Of which there Is
but little doubt.
Yours truly, II.
IMPORTANT INFoRMATIoN.-In times
like the present, we would particularly call
the attention of the people of this state. 70,
the existence of the law alluded to in the