The republic. [volume] (Washington [D.C.]) 1849-1853, 1851-04-03
| Treasury. with coupons or interest warrants at

Treasury, with coupons or interest warrants at
tached.
You will readily perceive how important il ia to
the interest of Texas to acquire the information
asked for above. Then her officers and Legisla-
ture will be enabled to act ndvisedly in regard to
the final adjustment Of ncr public debt
As am extremely anxious to return to Texas, l
respectfully solicit the favor Of reply at your
liest convenience.
l have the honor to be. with great respect, your
obedient servant. JAMES b. SHAW,
Comptroller Of Public Accounts, State of Texas.
Treasury DEpAnrMENT, Feb. IL, 1851.
Sin acknowledge the receipt of your letter OF
connection with the debt of Texas, and the five
millions Of stock reserved by the Texas Boundary
act of 9Th September, $780, until ertain creditors
of Texas have filed full and complete release OF
the United States. and have the honor to state
To your first query, ''What rule will the Gov
eminent adopt in order to arrive at knowledge
of that portion Of the debt of Texas for which du
dstinctio to the residue of her debts?" the De-
partment replies that it will require authenticated
copies Of every law of the Republic or State Of
Texas creating or authorizing the different issues
OF her debt, as well all laws in any way bearing
upon or relating to said debt; also, an autheni-
Gated fac sime copy Of each Of the different certf
Gates Of stock bonds, treasury notes. certificates OF
record, or other evidences OF debt which have been
issued by Texas.
To the second query, "What plan will be adopted
to ascertain the number of creditors Of the descrp
ton alluded to, 50 as to know when all of the
leases referred to in the act have been hled! the
Department replies, that the documents alluded to
in the preceding answer to the fret query it is pre-
sumed, will show what portion Of the debt will be
applicable to the reserved five millions, and when
that is ascertained it will be required that the whole
amount of should be released to the United States
before the reserved stock can be handed over to
Texas. The Department considers that public no.
tice should be given in some Of the leading papers
of Texas and Of the principal cities Of the Union,
to all holders of such claims, to present and file
them at the Department, and it win rest with Con-
gress to fix the period after which such claims shall
no longer be admitted
To the third query, Show ia it proposed to ascer-
tain the amount actually due from the State to each
of said creditors"' the Department replies, that
when it is in possession of all the facts connected
with the creation and present state of the debt Of
Texas, which will be furnished by the documents
alluded to in the preceding answers, it will pro-
coed on the data thus furnished, and what can be
procured from other sources, to determine the
amount of the debt to which the reserved five mil
lions will be applicable
To the fourth query, eff upon examination it be
found that the debt for which impost duties were
specially pledged does not amount to the five mil
lions of dollars, which is authorized by the act of
Congress to be retained for the payment of such
debt, will not the stock over and above that neces
sary to discharge this character Of indebtedness,
be delivered to Texas that fact can be
certained!' the Department replies. that it could
not give up any portion Of the reserved stock until
all the claims alluded to in the boundary act of 9th
September. 1885, first relinquished to the United
States, whether the amount Of them shall be more
or less than the five millions.
To the fifth query, "should Texas think it pro-
per to pay any portion of her debt for which i'm
post duties were specifically pledged, out of the
i've millions of stock which by her acceptance of
the proposition she become in the immediate pos
session of, would not corresponding amount of
stock Of the retained Eve millions be delivered to
Texas on her filing the proper releases from the
original holders of said debt"' the Department
plies, that the same answer must be given to the
In ir,vt mic tho IF thol 10
will not authorize II to give up any portion of the
five millions until all the claims are released as
against the United States and the payment ola por
ton of those claims by Texas would be only partial
and not entire discharge, and that Texas could
claim no privilege for a priority of settlement Of
those claims which not enjoyed by the previous
individual holders Of them.
To the sixth query, "From what date will the
bonds or certificates Of stock bear interest? 1t is
considered that by fair construction of the act of
Congress, Texas is entitled to have interest from
the 25th November, 1850, that being the day on
which the contract was contaminated on her part
by transfer of the territory to the United States
Will not the interest upon the entire ten millions be
paid semi-annually as il becomes due, although the
by the United States?' the Department replies.
that the certificates Of stock will bear interest from
the lst january, 1851, and for period of fourteen
years from that date. but no possible construction
authorize the interest to commence from the goth
November The notice of the acceptance Of the
law was given by Texas on the 18th December, and
from that PERIOD at the utmost, could interest be
possibly claimed, but in that case it must
the same day in 1864; but it is considered that, in
giving the full fourteen years. interest from lst
January, 1851, though it commences a few days
later than the actual date of the special notice. it is
a virtual compliance with the law.
In reply to the remaining portion of your letter,
would state that the original evidences of debt
should be filed together with the releases, and left
in the Department, and the authorities of Texas
should also furnish full and detailed abatement of
all the outstanding evidences of debt they
exist, with the date numbers, and amount Of each,
and the names of all the claimants and their resi-
dences, so far as they can be ascertained.
No interest can be paid on the stock until after
passes out ofthe control Of the Department.; but
~ previously stated. the interest will commence
from LIST January, 1861. The Department will
cheerfully issue the certificates of stock in such
form and in such amounts may be most advan-
tageous for Texas, and the certificates which have
been prepared in amountso of s 100, $780, 900,
and $4,000, without coupons, and s 900 with
coupons the former, which are transferable only
on the books of the Treasury, are most desired by
holders in the United Staes and the latter, which
payable to bearer, and transferred by delivery,
are in request for foreign holders Previous expc-
rience has shown that certificates in sums Of S 900
are most desirable for this latter purpose.
Very respectfully, your obedient servant,
THOS. CORWIN,
Secretary OF the Treasury
JANIS B. SHAW, ESQ.,,
EARrHouAxE AT CARrHAaENA.-The New York
Erpress, of the lst instant, learns from Captain