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procure those articles, you are herewith furnished with authority lo borrow one hundred thousand dollars, on the faith of the Government of Texas; and also with an order on T. Tohy Esqr., Texas Agent al New Orleans, for Scrip lo the amount of one hundred thousand acres of land of this Government. The funds that you will he enabled lo realize from these means will, I presume, be fully adequate to the fulfilment of the wishes of the Government as expressed lo you in the letter of the Secretary of War. You will of course pay a strict regard to economy in all your transactions on account of the Government. The land Script must not be disposed of al a less price than 50 cents per acre, which is the minimum fixed by the Government. If any more can be had for it you will give the Government the benefit of such surplus. In negotiating a loan in behalf of the Government, great discretion will be necessary, and you must in particular, abstain from promising and excessive rate of interest. Eight per centum per annum is a large allowance: but rather than fail, in your operation, you are permitted to contract for Ten percent, provided the loan be made redeemable at the option of the Government, within one year from the first of January next.
Your Obedient Servant David G Burnet
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[BURNET to MORGAN]
Executive Department Velasco 22 Sept. 1836
To Colonel James Morgan Sir
You are hereby fully authorized & enpowered to borrow of any person or persons in the United Stales one hundred thousand dollars for and on account of the Government of Texas and to pledge the faith of said Government for the repayment of the sum you may so borrow at such rate of interest as you may find convenient and practicable. The interest to be paid semi-annually in one of the Banks of the City of New Orie.ms is the Stale of Louisiana. And for this purpose you are hereby consituted a special Agent of this Government of Texas. Done al Velasco this 22 Sept. 1836 David G Burnet
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