casualties by which some certificates might be rendered unfit for utlcra nee. I have requested Mr. Toby to furnish me with a minute account of the scrip sold and of the disbursments of the proceeds and also of all matters connected with his agency. As soon as his reply is received it will be communicated.
[David G. Burnet]
[4307) [BURNET to CONGRESS]
Executive Department 13 Oct. 1836
To The Honorable The Senate and House of Representatives Gentlemen:
By an inadvertance for which the great pressure of business that has devolved upon me, and the very inconvenient circumstances under which that business has been transacted will render an adequate apology, I omitted in my communication at the opening of the Congress, to mention a loan that had been effected by the Commissioners Messrs. Austin, Archer and Wharton in the city of New York. On the 12th day of .May 1836 those gentlemen negociated a loan with Samuel Swartout and others in the city of New York for one hundred thousand dollars as will appear by documents A. herewith submitted. Ten per centum of that sum was advanced and has been appropriated to the public service as will appear by reference to the accounts of the Commissioners on file in the Auditors Office. A Bond for One hundred thousand dollars executed under the late provisional Government, was deposited with the loaners, by the Commissioners as collateral security. On the back of which bond an endorsement was made a copy of which is present in document B, and also a blank bond similar to the one executed. It will be observed from the conditions of this loan that the payment of the residue, to wit, the ninety thousand dollars depends on the ratification of the contract by this government. When that transaction was made known to me on the return of the Commissioners, I was of opinion it was inexpedient to confirm the contract to its full extent, and that opinion has not been altered inasmuch as a minimum price has been establjshed for land
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