Texas Heritage, Winter 2002 Page: 19
63 p. : ill. ; 28 cm.View a full description of this periodical.
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eCeCa /
g P E RRepublic of Texas Currency
By John Rowe and John M. Davis Jr.
All images are from the collection of John M. Davis Jr., unless otherwise noted.In 1821, Mexico overthrew Spanish rule. After
a brief empire period, Mexican federalism came
into existence in 1824. The Federation set up
standard governmental departments, including
a treasury that issued national currency in limited
quantities (figure 1, page 18). The
Constitution provided for a decentralized form
of government, reserving separate powers to the
states. American settlers were already in the
process of perfecting titles to early Spanish land
grants. Moses Austin and his son Stephen,
along with other empresarios received permission
to convince willing pioneers to immigrate
to the open frontiers west of the United States
border. Many enterprising colonizer companies
issued their own currency, such as the handwritten
promises of the Green DeWitt Colony
(figure 2, page 18). Mexican specie (silver and
gold coin) and merchant shinplasters (fractional
currency, often poorly secured) sustained the
flow of frontier commerce during this period
(figure 3, page 18).
Fourteen years of political friction in Mexico culminated in
1835 when Santa Anna assumed that country's presidency. He
was determined to slow the expansion of Mexican federalism by
concentrating more power in Mexico City. During this time, two
groups of organizers received Mexican colonial bank charters.Neither of the two ever became operational. Unissued examples
of the currency of one of those, the Commercial and Agriculture
Bank of Texas still exist as Texas collectibles (figure 4, page 18).
In early 1836, Santa Anna assembled a northern invasion force of
Mexican conscripts. He crossed the Rio Grande to quiet a brewing
Texas rebellion. He wanted to reinstate his brother-in-law,
General Cos, as governor in San Antonio. General Santa Anna
bottled up the insurgents in an old San Antonio mission. On
March 6, 1836, the Mexican Army captured the Alamo killing all
187 of its defenders.
It was during this time, almost 200 miles northeast of the
Alamo, at Washington-on-the Brazos, a convention of "Texians"
voted to abandon forever any sovereign loyalty to Mexico. That
body declared Texas to be an independent Republic on March 2,
1836. Shortly thereafter, on April 21, General Sam Houston
defeated Santa Anna at the battle of San Jacinto, and the sovereign
state of Texas became a reality.
Texas as an independent nation functioned under a provisional
government, temporarily headed by Chief of State Henry Smith.
The rebellion government had issued land scrip denominated at
50 cents per acre to help finance its revolution (figure 5, page
18). Smith was followed as the head of state by interim President
David G. Burnett.
When the provisional government adjourned, a report disclosed
that the more than 150,000 square miles of land had been
won for a cost of only $267,534.69. Of this sum, $225,154.20
went to the army, $27,364.73 to the navy, and the remainder for
the government employee's payroll and various contingencies.
The official treasury numbers did not reflect expenses paid for
with bonds, land bounties, and mere promises issued in the provisional
government's name.
All necessary expenses were paid for by the simple expedient ofHERITAGE A WINTER 2002
p
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Texas Historical Foundation. Texas Heritage, Winter 2002, periodical, Winter 2002; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth45380/m1/19/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas Historical Foundation.