Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1851-04-05
WAsaISsroy, JANUARY 80, 1851.

Hon. THOMAS CoRwIN, Secretary Of the Treasury.
Sra Before returning Texas is desirable that should
know from the Secretary Of the Treasury the construction
which will be given to the following questions, growing out
of the of Congress- approved September 9h 1850, pro
posing the State of Texas the establishment Of her north
and western boundary, &c. HM
lst What rule will the Government adopt in order to
rive knowledge Of that portion Of the debt Of Texas for
which duties imposts specially pledged, in contads
tnction to the residue of her debt,
ID. What plan will be adopted ascertain the number of
creditors Of the description alluded to- know when all
of the releases referred to in the act have been filed
Sd. How proposed to ascertain the amount actually
due from the State to each of Eaid creditors
The authorities Of Texas consider that the only debt for
which the impos duties specially pledged is The interest
which has accrued the consolidated fund" issued under
set Of the Texan Congress- approved January 7h 1887
This fraction six hundred thousand dollars
For the reasons n support Of this construction refer you
the letter recently addressed to the delegation Of Texas
in Congress- and the opinion Of her attorney general This let
ter you inform me was received.
4th IT, upon examination, il be found that the debt for
which impos duties specially pledged does not amount
the FIVE millions of dollars which is authorized BY the
of Congress TO be retained for the payment of such debt will
the stock and above that necessary TO discharge this
character Indebtedness be delivered Texas that
fact be ascertaned e tE *sftta
5h. Should Texas think it proper to pay any portion Of
her debt Tor which mpost duties specially pledged
of the five millions of stock which by her acceptance Of the
proposition she becomes in immediate possession Of would
corresponding Of stock Of the retained five mil
lions be delivered Texas her filing the proper releases
from the original holders Of said debt z ~. .aa
6h From what date will the bonds certificates Of stock
bear interest It is conceived that by fair construction of
the act Congress- Texas sened have from the
10Th OF November, $780, that being the day which the
contract was contaminated her part by transfer Of the
territory to the United States Will not the interest upon the
enre ten millions be paid semannually becomes DUE
although The stock for portion Of the principal may be retain
ed by the United States
In the interview which we had on Tuesday, you gave as
Tho
should be filed with the Secretary the Treasury before
be made Of any Of the debt for which the mpost
revenues OF Texas We're specially pledged II you still ad-
here to this IMPRESSION it important that Texas should be
advised Of the fact that she may take the steps
TO conform to such requirement.
Should Texas undertake pay any Of her creditors hold
ing bonds for which the was specially pled0d
would be necessary for her know the form of release
which will be required Of such creditors to sign veud
therefore respectfully request to be furnished with such form
Of release az you conceive the act Of Congress conempae
As the value of stock is to extent governed by the
size Of the bonds and the mode Of transferring them /.
hoped that the Secretary Of the Treasury far rule
his Office may permi) will issue the stock in such form
may be calculated to command the highest price, am ad
vised that bonds Of the denomination of $780, $1,000 on.
$4,000 would be more marketable would therefore sus
ges that equal amounts Of the stock be issued in bonds
these respective denominations and, conformabe to the rule
of the Treasury with coupons interest warrants attached
You will readily perceive how important Is to the intere
Of Texas acquire the information asked for above. The
her officers and Legislature will be enabled act advised
in regard to the final adjustment Of her public debt
As lam extremely anxious 10 return to Texas respectful
solicit the favor Of reply your earliest convenience
have the honor to be, with great respect your obeden
servant JAMES b. SHAW,
Comptroller Of Public Accounts, State Of Texas.