Samuel Ellis to Stephen F Austin, 08-23-1836
Summary: Texan credit in the United States low. Speculation has spoiled sale for land—
New York
Sir
Since my arrival in New York from New Orleans, I have engaged myself
among the friends of Texas, to obtain all possible information in regard to
the general affairs of Texas. Such information as I may gain, that can
promote your views, it will always give me pleasure to communicate, from
The two Gun Brigs contracted for by the Mexican Government have, as I learn been launched in Baltimore, and will mount each 12 Guns exclusive of Bridle ports and stern Guns. I shall soon visit Baltimore whence I shall examine minutely the vessels, and report to the Govt their armament, character and discription, and the circumstances under which they will leave for Mexico, as it will be impossible for them to obtain Crews in the United States, Texas has nothing to fear from them, for many months, and if a proper lookout is kept they may yet become part of the Navy of Texas. I shall make such arrangements in Baltimore as to insure to Texas accurate information of the time of sailing and the character of their equipment.
In regard to Loans, from the best information I can gain, nothing can
be done to advantage until a new Executive is established, and the Treasury
department placed upon a permanent basis, the conduct of President
Burnett, and his Cabinet has destroyed all confidence, here, and the
appointment of the new agents in New Orleans is considered as outrageous and
unwarranted, it appears to me that the greatest care and caution is
necessary in all, future movements, to restore the shaken credit of the Govt.
Unless the affairs of Texas should become desperate no further
voluntary contributions can be expected from this part of the States— Should
the war continue and the country is obliged to depend upon the sale or
pledge of the public Lands, to raise money, I would strongly recommend,
that a practical business man should be intrusted with full powers, and
that the selection should be made from some well known individual or
House in the States, experience has sufficiently proven to the old
Commissioners, the difficulty that a citizen of Texas will have to encounter in
such transactions, The establishment of a new Executive will in a great
measure change the present current of opinion in regard to your financial
affairs, and should your name (fortunately for Texas) be placed at the
head of the Executive a prudent course of conduct will soon restore the
public credit. Such opinions I have heard expressed here by those whose
conduct warrant them to be your friends, I look with extreme interest to
the result of the next election as upon it, depends in a great measure the
welfare of the country. My friend Bryan writes me that he has left for
Texas, whatever may be the result of his application for Justice, he feels
with me the strongest interest in the welfare of the country, and as our past
The sale of Scrip here by the different Texas companies has rendered
the price of Land nominal, when they can purchase nominal titles at less
than a cent an acre at auction, it cannot be expected that even real titles
should be worth much, I do not believe that at this moment Head rights
would bring at auction Ten cents an acre, with this astounding fact before
you, you will perceive the necessity of some immediate measures to restore,
the value of land and place the Government in a Situation to command
credit, One measure that would almost immediately insure such credit,
would be to overturn at a blow the sales of the old land companies, or to
place such restrictions upon them, as to make the value of their lands
prospective, and predicating all titles upon actual settlement,
Trusting you will excuse the liberty I have taken, in forwarding to you the above remarks,