The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-04-08

TRxASRs DEPARrsfEsT, March 81. 1851.
Sanes tas puoiicsssen q tho assice 4 theDa
dsnces a ~ for which duties on iwvsrss vsrs
specially pledged by the late republic the icstsrs q
inquiry which have been addressed to the Dspart-
ment on the subject have been 50 numerous and the
object Of that notice and the provisions of the law
cfCongress grantisgten millions of stock to Texas.
being 90 generally misunderstood by the credtsrs
that The Department deems IL advisable to issue ths
present circular for tho more particular nformatisa
Of the claimants.
The general impressios Of the writers ofths let
sers thxs received, appciss to DO that this Depart
nent Will psy from the reserved I'VE millions the
amount dne to those CREDITORS who bold that per-
tf,n Of the aeSs for which tbs duties imports were
pledged AFTER they have signed an4 sled their re-
lease Of the United States; instead q which, 50
sooa ne all rach creditors have exe..rcd the re-
leases aforesaid tho reserved two millions are then
to 10 issued.ee Texas, when TIL iurthrr aeticn by
this Department respecting it will ceSs end tho
creditors are to look 30 Texas the sesgbnent Of
their respective olaims, as will be ssen by We. follow
ing coalitions which the stocD is to- he issued.
which will be found IN the first session ofthe net OF
September ., 1859, usually known the Boundary
: Fourth The United States In consideration n said
establishment Of beuadries cesson cf claim ~ terri
tory and REIMBURSEMENT OF claims will psyto the state Of
Texas the of ten millions of dollars aa stock bear
ing five per interest am redccmabs the end of
fourteen ycrrsthe interest payable haf yearly at the
treasury ~ the United States
Filth. Immediately AFTER the President ofthe United
States shall have heen furnished with authentic copy
the Of the General Assembly accepting
these propositions he shall the stock be issued
favor OF the state of Texas provided for the fourth
article Of this agreement Provided. also, That
than i've millions OF said stock snail be issued until tho
creditors Of the State holding bonds and
OF stock Of Texas for which duties imports spe-
cally pledged shall first file at the treasury the United
states releases all claims against the United states for
account Of said bonds certificates, in form
sha be pre- eriled by the Secretary OF tho Treasury
approved hy the President Of the United Satcsn
order to obtain full information on tue subject,
the department has called upon the authorities of
Texas to furnish il with authenticated copies of all
the laws respecting the deL; specimens vi all the
different evidences Of debt originally issued by the
Republic or renewed by the state, whether III the
form of certificates OF stock, bonds, treasury
notes or otherwise, and certified list of the
creditors, with their Eames, residences, s1c so far
they can be ascertaincd These documents will
enable the department to ascertain what portion Of
the debt comes under the class for which. the two
millions of stock is to be reserved and by compar
ing the names and amount for which releases may
be filed with the list which is 10 be furnished by
Texas, the department will be able TO ds,ermins
when the whole of them have been thus presented,
so that il issue the reserved five millions Of stock
to the state.
Until the information thus required of Texas has
been received, the department will be unable to
determine a, to the mount Of the debt which will DO
applicable to tho reserved stock aud, in tho mean
Time il will rest with the creditors themselves to do
eide whether the evidences Of the debt which they
may respectively hold, i'll whatever form these EVIL
dences may exist, come within the description al
luded to- and to file their claims and releases
cordngiy, the department. at present is not pre-
pared to give any opinion ON that point.
In claims filed for larger amount, or fer
different kind. Of debt which the holders may think
applicable to the reserved five millions but
which may not be included in the list to be furnished
DO Texas Is coming within that particular class Of
the debt, such increased amount or such other spe-
e,es of debt thus fled will be submitted TO the
thcrties of Texas for further information and for
their views respecting it. The present object Of tho
department is to obtain from Texas and her credi-
tore, respectively statements the subject of this
description Of claims, which statements shall may
by further explanations. be made to harmonic, 80
10 enable it to act advisedy in issuing to the foC-
mer the reserN Ell five millions.
For further information TO the viows ofthe Dc.
rsrtment in connection with this subject the crsdi-
tors referred to the annexed correspondence be-
tween il and the Comptroller Of Texas.
WIN. L. HoDcE.
Acting Secretary Of the Treasury.