Thank you for visiting SNEWPapers!
Sign up free
Martinsburg Gazette
Martinsburg, Berkeley County, West Virginia
What is this article about?
The London Morning Chronicle reports on the recent treaty between Mexico and Great Britain, including Britain's acknowledgment of Texas's independence. Texas agrees to assume $1,000,000 of Mexican debt, with provisions for bondholders to receive land for colonization. Mexico hypothecates vast lands for debt repayment and approves consolidation of overdue coupons.
Clipping
OCR Quality
Full Text
The London Morning Chronicle of a late date contains some information which has not yet appeared in this country in relation to the treaty recently made between Mexico and Great Britain, and the more recent acknowledgment by the latter power, of the independence of the republic of Texas. Lord Palmerston is reported to have said that the Texan Government agreed to take upon itself $1,000,000 of the Mexican debt. It is added, that the deputation that waited upon the Minister upon the subject, expressed a wish that provision should be made for giving the bondholders the option of receiving part of the debt thus recognised by Texas in land, with a view to colonization. Lord Palmerston requested the deputation to put their views in writing. From the same source we learn, that it is expressly stipulated in the Mexican convention that 100,000,000 of acres of the vacant lands in the departments of California, Chihuahua, New Mexico, Sonora, and Texas, shall be specially hypothecated in the payment of the principal and interest of the national consolidated Fund until the total extinction of the bonds; and, by the decree of the Mexican Congress confirming the terms, it is declared, in addition to the general hypothecation, that 25,000,000 of acres of Government lands in the departments having the nearest communication with the Atlantic, shall be specially set apart for security to the bondholders, and for the purposes of colonization.
On the same occasion a communication was read from the London Financial Agency of Mexico, stating that the plan proposed for the consolidation of the overdue coupons, has been approved by the Mexican executive, and was under the consideration of Congress. The whole of the Custom House Warrants sent out, equal to $1,400,000, would be paid off by the end of the present year, leaving the 1-6th part of the Custom Revenues available for the payments of the dividends. The Mexican Converted Debt is about £9,806,415, one half of which is an Active Five per Cent Stock, making the dividend presently payable equal to £845,000 per annum.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Foreign News Details
Primary Location
Mexico
Event Date
A Late Date
Key Persons
Outcome
britain acknowledges texas independence; texas assumes $1,000,000 mexican debt; 100,000,000 acres hypothecated for debt payment; 25,000,000 acres set apart for bondholders and colonization; overdue coupons consolidation approved; custom house warrants of $1,400,000 to be paid by year-end; annual dividend £845,000.
Event Details
London Morning Chronicle reports treaty between Mexico and Great Britain; Britain acknowledges Texas independence; Texan Government agrees to $1,000,000 Mexican debt; deputation requests land option for bondholders; Mexican convention stipulates 100,000,000 acres in California, Chihuahua, New Mexico, Sonora, Texas hypothecated for national debt; Congress decree adds 25,000,000 acres near Atlantic for bondholders and colonization; London Financial Agency states overdue coupons plan approved by executive, under Congress consideration; Custom revenues to cover dividends after warrants payment.