Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1851-04-05
OFFICIAL.
CIRCULAR TO THE CREDITORS OF TEXAS.
TnrAsuKr DEPARTMENT. M.acH 81, 1851.

~ANN~ 49,
TREAsuRT DEPARTMENT, MAncH 81, 1851.
Since the publication of the notice of the 22d in.
stan to the creditors of Texas who hold evidences
of debt for which duties on imports were specially
pledged by the late Republic, the letters of inquiry
which have been addressed to the Department on
the subject have been so numerous, and the object
of that notice and the provisions of the law of Con-
gress granting ten millions of stock to Texas being
so generally misunderstood by the creditors, that
the Department deems it advisable to issue the pre-
Circular for the particular information of the
claimants.
The general impression Of the writers the letters thus
ceved appears to be that this Department will pay from The
reserved FIVE millions the amount due to those creditors who
hold that portion of the debt for which the duties Imports
were pledged after they have signed and filed their release Of
the United States instead Of which, all such
dors have executed the releases aforesaid the reserved FIVE
millions are then to issued 10 Isras when all further
ton by this Department respecting it will and the
dors are to look to Texas for the settlement of their
spective claims will be by the following conditions
on which the stock is to be issued which will be found in the
rst section Of the Of September g. $780, usually known
as the Boundary Law:
Fourth. The United States in consideration of said
tabishmsnt Of boundaries cesson Of claim to territory and
rinquishment Of claims, viii pay to the State Of Texas
cent interest," and redeemabe the end Of fourteen years
the interest payable half yearly the Treasury Of the United
States. AAs
Fra Immediately after the President Of the United
States shall have been furnished with authentic copy Of the
Of the General Assembly Of Texas accepting these propo
sons be shall the stock 10 be issued in favor ohe Stale
Texas provided for in the fourth article this agreement
Provided also, That than five millions Of said stock
shall be issued until the creditors Of the State holding bonds
and other certificates Of stock of Texas far which duties
imports specially pledged, shall first file at the
Treasury Of the United States releases Of all claims against
the United States for account of said bonds cert
Gates in such shall be prescribed by the Secretary Of
the Treasury and approved by the President of the United
States"
In order obtain full information the subject the De-
pamsnt has called upon the authorities Of Texas furnish
it with authenticated copies Of all the laws respecting the
debt specimens Of all the different evidences Of debt originally
issued by the Republic renewed by the State whether in
the form Of certificates Of stock bonds treasury notes.
otherwise and certified list of the creditors, with their
Names residences &C., far they can be ascertaned
These documents will enable the Department to ascertain
what portion Of the debt under the class for which the
five millions Of stock is be reserved and by comparing
the names and amount for which releases may be filed with
the list which be furnished by Texas the Department
will be able determine when the whole Of them have been
thus presented that issue the reserved five millions
of stock to the State.
ceived the Department will be unable to determine the
Of the debt which will be applicable the reserved
stock and in the time, it will with the creditors
themselves decide whether the evidences the debt which
they may respectively hold in whatever form these evidences
may exist within the description alluded to- and to file
their claims and releases accordingly, the Department
present is not prepared to give any opinion that point
In claims are filed for larger amount, for differ
kinds debt which the holders may think applicable
the reserved FIVE millions, but which may be included
in the list be furnished by Texas coming within that
particular class Of the debt such increased or such
other species Of debit thus fled will be submitted the auho-
rites Of Texas for further information, and for their views
respecting it, The present object Of the Department is
obtain from Texas and her creditors respectively
on the subject Of this description Of claims which statements
shall mny by further explanations be made harmonic,
enable to advsey in issuing the former the
reserved FIVE millions.
For further information the views If the Department
in connexion with this subject the creditors referred
the annexed correspondence between and the Comptroller
OF Texas. VIM. L. HODGE,
Acting Secretary Of the Treasury.
.. .... ... ~ WAsaISsToS, JANUARY 80, 1851.