The Arkansas banner., 1844-05-15

eorPorated info the Union If tue United States, maintained and protected in the free i enjoyment of thoif liberty and proacrtv, and admitted, as soon a3 may be consistent with the principles of the Federal Constitution, To the enjoyment ol all the rights, privileges and immanities, of citizens of thc UAiled States
 Art. 3. Ali titcs and claims to real cs.ate, which are valid under the laws ol Texas. shall be held to he s0 by the United Sales; and measures shalt be adopted for the speedy adjudication of all unsettled claims 10 lands, and patents shall be granted 10 those found 10 be valid.
 Ant. 1. The public lands hereby ccded shall be suhcel To the laws regulating the public lands n the other Territories oI the United s.ales, as ta as they may be apglica- ole, subject, however, to such alterations and changes as Congress may from time to lime think proper 10 make. Iti is understood between thc parties, that, if in consequence of the mode in which lands have been sur veyed la Texas, CT from previous grants or locations, lle sixteenth section cannot be ap- piled for the purpose of education, Congress sEaIl make equal provision by grant ot land elsewhere. Anditis also further understood, that, hereafter, the books, papers, aaG doeu- meats of the General Land Office of Texas shall be deposited and kept at sueh place in Fe&as as the Congress of t4e United States shall direct
 3ri. ,. The United SRtas assume and agyee i to PeE the public debt and liabilities oi Texas, however created, for which the faith or credit of her Government may be bound at the lime of the exchange of the ratiications of this treaty; which debts and liabiiIes arc cs- timated not 10 exceed, Ill the whole, len mil- lions of dollars, 10 be asceftaincd and paid i in the manner hereinafter stated.
 The payment of the sum of three hundred and fifty thousand dollars shaIl be made al the Treasury of the United States, within ninety days alcr the exchange ol the raiili- cations of this treaty, as follows Two huu- dred and fifty thousand dollars to Frederick l Dawson, of Baltimore, or his executors, on the delivery of that amount of ten per cent bonds of Texas; one hundred thousand dol- lars, fl SO much be required, in the rcdcmp- ton of the eXehequer bills which may be in circulation at the time of the exchange of the notifications of this treaty. For the paw ment of the remainder of tAe debts and iia- bili1ics of Texas, which, together with the amount already specified, shall not exceed ten millions ef dollars, the public lands herein ceded, and the nctt revenues from the same, are hereby pledged.
 Ar 6. In order to ascertain the full amount of the debts and liabilities herein assumed, and the legality and validity thereof,' four commissioners shall be appointed by the President of the United States, by and with the advice and consent of the Senate, who shall meet at Washington, Fexas, within ihe period of six months after the exchange of the notifications Of this treaty, and may con- tinue in session not exceeding twelve months, unless the Congress of the United States should proloag the tHe They shall ta,e an oath for the faithful discharge of the duties. and that they are not directly CT indirectly interested in sad claims al the time, and will not be during their continuance ill office; and the said cath shall be recorded with their proceedings. h case of the death, sickness, i OF resignation of any of the commissioners, his or their places may be supplied by the appointment as aforesaid, or by the President ol the United States during the recess of the ] Senate. They or a majority of them, shall be authorized, under such regulations as the I Congress of the United slates may prescribe, i to hear, examine, and decidp on all questions touching the legality and validity of said claims, and shall, when claim is allowed, l issue certificate to the claimant, stating the amount, distinguishing principal from intcr- est. The certificates so issued shall be num- bered, and entry made of the number, the name of the person 10 whom issued, and the amount, in book to be kept for that pur- pose. They shall transmit the records of their proceedings and the book in which the l certificates are entered, wilh the vouchers and documents produced before them, relative 10 the claims allowed Of rejected, to the Frea- sury Department of the United States, to be deposited therein, and the Secretary of the Treasury shall, as soon as practicable after the receipt Of the same, ascertain the aegre- gate amount of the debts and liabilities al- lowed, and If the same, when added 10 the amount to be paid to Frederick Dawson aud the sum which may be paid in the redemp. ton of the eXehequer bills shall not exceed the estimated sum of ten millions of dollars, he shall on the presentation of certificate of the commissioners, issue, al the option ol the holder, a new certificate for the amount, distinguishing principal from interest and payable 10 him or order, out of the nett pro- ceeds of the public lands hereby ceded, CT stock of the United States for the amount allowed, including principal and interest, and bearing aa interest of three per cent per am mum from the date thereof; which stock, in addition 10 being made payable out of the nett proceeds of the public lands hereby eeded, shall also be receivable in paymen
 for the same. In case the amount of lht debts and liabilities allowed, with the sum, aforesaid to be paid to Frederick Dawson and which may be paid in the redemption o
 the exchequer bills, shall exceed the saic sum of ten millions of dollars, the said Sc cretaFy, before issuing a new certificate, oi stock, .as the case may be, shall make in eacl case such propouionable and raleable redac-
 ton oil ifs amount as to reduce the aggregate