The Southwestern Historical Quarterly, Volume 16, July 1912 - April, 1913 Page: 88
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The Southwestern Historical Quarterly
ferred by the Agents of Mesr. F. Lizardi, and Co., and excused
himself and the Secy. of State for not acknowledging my note
upon the subject, upon the plea of absence from the Seat of Gov-
ernment, and the removal of the papers from Houston. He did
not say so, but I have otherwise reason to believe that they hoped
to have been able to settle the claim for the "Eliza Russell" before
this, and I presumed that they were averse to write till they could
promise payment upon that account.
The case of the "Little Pen" is not free of difficulty, but it will
be my duty to communicate upon this Subject Officially by the
next opportunity, and therefore I say no more at present. These
despatches carry you the President's Message to Congress.1 He
did me the favor to read it to me before it was submitted, and
asked me what I thought of his finance scheme. I told him I was
a very inadequate judge of such matters, but I must frankly admit
that I could not think it would be efficacious. It appeared to me
that the Cherokee land was no sufficient basis for the support of
the Exchequer Bills in the Market. In the present state of this
Country there was no raising funds upon the best improved land
in the Republic; with the best titles, and in the least disturbed
parts of it and therefore, casting no disparagement upon the Cher-
okee lands, it certainly seemed to me that their value was of rather
too prospective a nature to serve as a solid foundation for an
actual paper issue. So far as I could judge from all I had seen,
or read, the single course for a Governt. and Country in the Sit-
uation of Texas was to be as economical as possible, to adhere
with unfailing honesty to the declaration, and determination to
pay their debts whenever they could, and to promote trade and
industry by every means of encouragement.
In this view I had much hoped that the President would advise
Congress to repeal the dishonest Bill of the July Session,2 which
would have the effect of making the Exchequer Notes receivable
for Customs Imposts at their full value, then I thought that with
resolutions of Congress forbidding the issue of another Dollar
'President Houston's message is dated December 1, 1842. (Journals of
the House of Representatives of the Seventh Congress of the Republie of
Texas, 10-28.) -EDITOBRS OF THE QUARTERLY.
?Ihe bill referred to by Elliot is "An act to regulate the collection of
impost duties," approved July 23, 1842. (Gammel, Laws of Texas, II,
812.) -EDITORS OF THE QUARTERLY.
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 16, July 1912 - April, 1913, periodical, 1913; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth101058/m1/94/: accessed October 16, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.