The Republic

The Debt of Texas.
The Galveston News furnishes a synopsis of a bill which it describes as having passed both houses of the Legislature of Texas, providing for the payment and liquidation of the public debt. The bill appropriates two out of the $5,000,000 bonds which the comptroller came to this city to receive, to pay certain accumulated debts immediately. The debts are scaled and classified under sixteen heads. The immediate payments ordered are, of those under the third head of that classification, $226,002 for ten per cent. funded debt of February 5, 1840; the fourth head, $7,248 for eight per cent. funded debt of February 3, 1840; the ninth, $69,451 for audited paper-various enactments; the tenth, $26,129 for miscellaneous liabilities; the fourteenth, $679,222 for second class debt; the fifteenth, $16,467 for third class debt, lately admitted as second; sixteenth, $72,077, less $38,053, amount acknowledged by joint resolution.
These appropriations amount to $1,058,543-leaving $941,457 unappropriated, specifically.
This is to go into a 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 classification, thus: 1. $442,768 for the ten per cent. consolidated fund of June 7th, 1837; 2. $7,970 for ten per cent. fund of same year, for the relief of Swartwout and others; 5. $153,360 for eight per cent. treasury bonds, of 1840; 6. $41,630 for ten per cent. treasury notes of 1837; 7. $765,685 for ten per cent. treasury notes, of 1837, second issue; 8. $457,049 for treasury notes, without interest, of 1837; 11. $400,000 for the bond issued for loan from the United States bank; $97,950 for purchase of steamer Zavalla; $140,000 for naval vessels contracted for with F. Dawson; 12. $1,468,155 for interest on above; 13. $113,664 for additional interest by act of 1850. These appropriations amount to $2,506,411 of principal, and $1,581,819 of interest. Total, $4,088,230-leaving $911,780 of the reserved five millions, which is added to the 941,457 surplus from the two million fund-making $1,853,237, which is directed to be appropriated solely for the second class debts.
Only two millions are appropriated of the bonds immediately receivable; the other three millions are reserved, apparently, for other uses than the payment of debts, scaled or otherwise.
The New Orleans Picayune makes some pretty hard reflections on this bill, and doubts whether it has become a law.