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

TREASURY UEPAkTMkNTs iSj 1871.
SIR acknowledge the receipt Of your letter OF the sou
ulmo propounding cerain queries in connexon with th'
debt OF Texas and the five millions OF stock reserved by the
Texas boundary of 9th September $780, until certain
dtos Of Texas have filed full and complete release OF ths
United States, and have the honor TO state
To your first query What rule will the Government adopt
in order to arrive knowledge of that portion Of the debt
Texas for which duties mposts were specially pledged 10
contradsncon the residue OF her debts " the Department
replies that will require authenticated copies OF every law Of
the Republic or State Of Texas creating authorizing the
different issues Of her debt well all laws in any way
ing upon or relating said debt also, an authenticated fac
smile copy of each different certificate of ssock bonds
treasury notes. certificates OF record or other evidences OF debt
which have been issued by Texas .s
To the second query, "What plan will be adopted to
certain the number of creditors of the description alluded
as to know when all Of the releases referred to in the act have
been filed }" the Department replies that the documents al
lued to the preceding to the first query, is pre-
sumed will show what portion Of the debt will be applicable
to the reserved five millions and when that is asceaned it
will be required that the whole Of it should be released
to the United States before the reserved stock be handed
over TO Texas The Department considers that public notice
should be sven in of the leading papers Of Texas and
of the principal cities of the Union, to all holders Of such
claims present and file them at the Department. and will
with Congress to fix the period after which such claims
shall no longer be admitted
To the third query, SHOW is it proposed ascertain the
amount actually due from the State 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
in the preceding answers II will proceed the data thus
furnished and what be procured from other sources de-
ermine the Of the debt 10 which the reserved FIVE
millions will be applicable.
To the fourth query, m upon examination il be found tina,
the debt for which mpos duties specially pledged does
not amount TO the five millions of dollars which is authorized
by the Of Congress be retained for the payment Of such
debt will the stock and above that necessary dis
charge this character of Indebtedness be delivered TO Texas
that fact be ssoertained " the Department
nf ho orva6
stock until all the claims alluded to n the boundary act Of
9th September, 1850, first relinquhed to the United
States whether the of them shall be less
than the five millions.
To the fifth query, "should Texas think it proper to pay
any portion of her debt for which mpost duties spe
cifaly pledged of the FIVE millions Of stock which by her
acceptance proposition she becomes in the immediate pos
session Of would not corresponding amount Of stock OF the
retained five millions be delivered Texas her filing the
proper releases from the orgns holders Of said debt " the
Department replies that the must be given to
the last query, its opinion the terms Of the law will not
authorize to give up any portion Of the five millions until
all the claims are released against the United States and
the payment Of portion Of those claims by Texas would be
only partial and not entire discharge and that Texas
could claim privilege for priority of settlement Of those
claims which not enjoyed by the previous individual
holders of them. .r.
To the sixth query From what date will the bonds or GER
cates Of stock bear interest 1t is considered that by fair
of the Of Congress- Texas is entitled to have
interest from the 18th November 1850, that being the day
on which the contract contaminated her part by
transfer of the territory the United States. Will the
interest upon the entire millions be paid annualy
becomes DUE although the stock for portion Of the prn
cpal may be retained by the United States ~ the Department
replies, that the certificates Of stock will bear interest
from the LIST January, 1884, and for period Of fourteen
from that date but possible construction Of the law,
in the opinion of the Department. will authorize the interest
to commence from the goth November. The notice Of the
acceptance OF the law given by Texas the 18th De-
cembe and from that PERIOD at the utmost could interest be
possibly claimed but in that must the
day in 1864 but is considered that in giving the full four
teen years interest from LIST January, 1851, though
few days later than the actual date of the special
notice, it is q 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 toge
ther with the releases, and left in the Department. and the
authorities Of Texas should also furnish full and detailed
statement Of all the outstanding evidences Of debt they
now exist with the date numbers and amount of EACH and
the of all the clsmans and their residences, far
they can be ascertained.
No interest can be paid the stock until after it
out Of the control Of the Department but previously stated
the interest will commence from lst January, 1851. The
Department will cheeruly issue the certificates Of stock in
such form and in such may be
for Texas and the certificates which have been prepared
in amounts of l00 $780, 1000 and 900 dollars without
pons, and 900 with couponsthe former which
feabe only the books of the Treasury, desired
payable to bearer and transferred by delivery, in
for foreign holders Previous experience has shown that
certificates in sums Of 900 most desirable for this latter
purpose Very respectfully, your obeden, servant
y THOS. CORWIN,
Secretary Of the Treasury.
JAMES B. SHAW, Esq.
Comptroller of Public Accounts, State Of Texas.