The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-02-02

situation of Texas, we are indebted to gentleman.
whose talents and standing claim for il great consi-
dcration il not implicit credcnce. For own part,
we have not doubt that Texas will, ere long, be
wealthy, debtpay'ng people.
lst Funded under the act Of 1887,
deemable at the pleasure of the govern
ment, after Is4I, $3.50, 900
Interest due on the same and unpaid, $4,000
ID Funded under the act of 1910, and pay
able in five years, 500 600
Interest due and unpaid 40, 90
wears 100000
Interest due and unpaid, 10000
redeemable in 1919, 600, GOO
Interest due and unpaid, $4,000
9th. Eight per cent. bonds, payable in five
years, no interest due, 100000
9th Treasury notes in circulation 2,250, 600
inc and not presented to be audited 100000
SIS $4,000
The last item of $5O0,0O0 is believed to be much
too large. No engagements have been contracted
other than those stated il is intended TO cover liabi-
ties incurred during the war of Independence, and
which have not been presented for liquidation. OF
this class of claims about 100000 was audited tho
past year.
The Secretary Of the Treasury reports that $780,
600 had been received in the Treasury the past year
due and unpaid in taxes, and which will probably be
paid in, $s500,O0O
The estimate of expenses for the support of the Co
vernmcnt for the ensuing year, is $500 900, which is
fully sufficient The cause for any great cxpend
has mcasurably ceased The expulsion Of the Chcro-
KEGS the frequent and disastrous defeats the Indians
have suffered along the whole line of frorter makes
necessary that small force only should be kept up
for its defence. The Navy with the exception oftwo
vessels with small crews is TO he laid up in ordinary
The expenses Of the civil list have been greatly
duced The only contingency that can occasion any
other expenditure is active war with Mexico OF which
there scarcely exists probability The circulation OF
IA. ~ la, InU xxLt
thorizcd their ISSUE required them TO be received for
al public dues OF this sum not more than 600
is in Texas; the balance is held in large amounts by
capitalists in the United States.
IL -. - .i,. c. st,. -f
cent TO pay all its expenses and the interest on the
debt. Ii they had the means Of support in par funds
for a single year, the whole amount of circulation in
that time would be absorbed in payment Of taxes and
duties and ON the commencement OF a new year, the
public dues would be collected in par funds, and be
fully sufficient 10 support the Government and pay the
interest its debt leave out of view altogether the
probable increase in receipts from customs and taxes,
and the reccit that may be made available from the
public domain which exceeds one hundred millions OF
acres after all claims against it are satisfied
The probability exists that the Government will
be possession of funds sufficient Tor It's sup
port and the payment Of half years interest nde-
pendent of the revenues
The amount of the debt has been given in round
numbers II is not pretended that they correct TO
a cent have every means Of information, and be-
here that the amount stated exceeds by several nun
dred thousand dollars the actual amount due.
The object of this statement is TO correct erroneous
Impressions that have gone abroad in relation to the
amount Of Indebtedness Of Texas. Gentlemen here
of high standing, whose opinions justly entitled 10
great consideration has stated II be seventeen millions
haye no reason suppose that they have intention
ally exaggerated But il is certion they misntorm
ed or have mscalculated.
The truth when told in relation 10 our financial AZ
fairs bad enough without the additional burhen Of
to increase them.
The difficulties that surround Texas only require TO
lac met promptly and decisivoly to be overcome They
are not much greater than those fell by some OF
the States The only difference is they have some
any aid from abroad the fine climate, rich productive
soil rapidly increasing population and wealth, VIII
soon command na only prosperity bot credh-N q
! bulletin