The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-02-11

The Galveston Ne,cs furnishes a synopsis Of
bill which it describes as having passed both
houses of the legislature of Texas, providing
for the payment and liquidation of the public
debt. We give the substance although there
is some doubt upon our minds whether the bill
has actually become law.
The bill which the Ne,os quotes as passed by
both houses, appropriates two out of the five
millions of bonds, which the comptroller has
gone to Washington city to receive, to pay
certain accumulated debts Immediately. The
holders may be able to recognize them BY the
description, which has reference to the report of
the auditor and comptroller of the State, by
which the State debts are scaled and classified
under sixteen heads. The immediate payments
ordered to be made of those under the
third head OF that classification, 226,OOO for ten
per cent funded debt of February 9Th, 1870;
the fourth head, S., 248 for eight per cent funded
debt of February 9th. 1910; the ninth, sS6945l
for audited paper-various enactments the
tenth, 1876 1919 for miscellaneous liabilities the
fourteenth, $679,222 for second class debt; the
fifteenth, $l6 467 for third class debt lately adj
mitted as second; sixteenth, $72O77-less
$3S,053, amount acknowledged by joint resou-
ton.
These appropriations amount to S. O58 543-
leaving S94l,457 appropriated, specifically.
This is to 90 into fund for the payment of
claims embraced under the second class of debts.
being the class for which the impost duties were
not pledged. Specific appropriations out of the
five millions of reserved bonds which the United
States keeps yet in its custody. are made for the
following debts, numbered as in the same clas-
si6ca'ion, thus: |. $4i2 ,76S for the per cent
consolidated fund Of June It'll, 1897; 2. $3.50
for the per cent. fund of same year. for the re-
lief of Swartwout and others; 5. 1888, $50 for
eight per cent. Treasury bonds, of 1910; 6.
S4l $50 for ten per cent. Treasury notes Of
1887; z. S765,6S5 for ten per cent Treasury
notes of 1897, on second issue; 8. $457 O48
for Treasury notes, without interest of 1887;
H. 100000 for the bond issued for loan from
the United States Bank S97,95O for purchase
of steamer IavalIa 8 100000 for naval vessels
contracted with +. Dawson; H. 81 ,46S, l55 for
interest on above; g. $ll3,664 for additional
interest by act of 1850 These appropriations
amount to S2,5O6,4ll of principal and 81 5SI,.
Sl9 of interest. Total, S4OSS, 92O-leaving
$9ll,7S0 Of the reserved five millions, which is
added to the SOL 457 surplus from the two
million fund--,naking q II .S53 ,247, which is d.
rected to be appropriated solely for the second
class debts.
1t is to be particularly noted that only two
millions is appropriated of the bonds immedi-
ately receivable, for which the State comptroller
has gone to Washington. The other three mil
ons are reserved apparently, for other uses than
the payment of debts. sealed or otherwise
The sum Of the bill is, that Texas will receive
hive millions in cash, or its equivalent-put away
three millions, pay out little more than one mil
hon, and reserve nearly another million to con
stitute fund, to abide the disposition of the
other five millions, when it shall be relieved from
the United States Treasury by the consent of
the creditors, or by an alteration of the terms OF
the appropriation by net of Congress- pros
pect, at the present showing, somewhat remote.1