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PAPERS OF Mm.ABE.AU BuoN.AP.ARTE LAM.AR
No. 1421 1839 Aug. 25, JOHN W. TAYLOR, NAVY YARD, [GALVESTON, TEXAS], TO M[IRABEAU] B[UONAPARTEJ LAMAR, [HOUSTON, TEXAS] Enclosing a deposition 24 of his ship-mate naval officers in proof of official injustice to himself. L. S. 1 p. No. 1422 1839 Aug. 26, J. SMITH, [HOUSTON, TEXAS], TO M. B. LAMAR, [HOUSTON, TEXASJ 25 Genl. lVI B Lamar-Stock Commissioners Office August 26th. 1839 Sir I hav[e] been instructed by the Secretary of the Treasury to allow interest on all the funded debt (arising from drafts issued subsequent to the first of sept. 1839) from the first of sep 1838-so that all drafts which which [sic] have heretofore been issued or that might hereafter be issued shall bear interest from the first Sept 1838 The Law 26 organising this Office prescribes that interest shall only be allowed from the date of funding the same without re- gard to the dates of the several drafts- A subsequent law.'] 7 passrd at the last session of congress authorising the secretary of the Treasury to reopen the books of the stock commissioner- Sec 1st 8th line- says that all certifficates of stock issued previous to the first of March next-1839-shall bear an interest from the 1st Sept 1838- sec 3d of same law says that all claims that were issued previous to the first of sept 1839 28 shall bear an interest from said date and all claims issued subsequent to the fi [r] st of sept 1839 28 and which may here- after be funded shall bear interest from the fi[r]st of sept 1838 It appears to me very clear that the legislator [legislature] never intended that interest should 29 on drafts with out regard to date from the first sept 1838 The question was raised last spring by Judge Bitdsell 30 - whether he could draw intererest from the first sept 1838 on a draft dated in Apr. 1839- After an argument of the subject he accorded with me that it was only intended that interest should be paid accord- ing to the dates of drafts- the question has been raised by Dr Ashbel Smith who wishes the stock commissioner to allow him interest on a draft dated first of April 1839-from the first sept 1838 No other citizen expecting or requiring more than interest according to the date of their several drafts-The inconsistency of such a law carries along "This deposition ·is no longer with the Lamar Papers. ..A. L. S. ..Act of June 7, 1837. In Gammel, H. P. N., Laws of Texas, I, 1301. "Act of Jan. 19, 1839. In Gammel, ibid., II, 51. 28 Gammel's Laws give the date as 1837. "Here Smith evidently omitted something. The words "be allowed" inserted after "should" would make the meaning plain. ••Birdsall.
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