LOT Old Heritage Auctions  /  2007 December Signature Texana Auction #661  / 

56096

Liquidation of Texas Paper Money: 1829. DS

Currency:USD Category:Collectibles / Paper Start Price:440.00 USD Estimated At:750.00 - 1,250.00 USD
Liquidation of Texas Paper Money: 1829. DS
<B>Liquidation of Texas Paper Money: 1829. Printed Decree Signed </B></I> "<I>Zavala</B></I>" in type, with his rubric in ink, one page, 8" x 11.5". Mexico, May 8, 1829. (1822). Because no money was available to pay the Mexican troops stationed in Texas, in 1822, Governor Felix Trespalacios founded Banco Nacional de Texas, the first bank chartered in Texas, in order to issue paper currency backed by specie due from the central government in Mexico City. When Emperor Agustin de Iturbide came to power in 1823, he demanded that his national currency supplant the Texas currency. Protesting citizens in Texas demanded that their paper money be redeemed with specie (as originally promised), not with someone else's paper money. Finally, in 1829, the Mexican congress passed this law, ordering that the Texas notes be redeemed with coin: "<I>The government is verifying and liquidating the amount that may be owed regarding paper money of Texas, and shall pay what is determined in agreement with the interested ones = Isidro Rafael Gondra, president of the house of representatives = Antonio Pacheco Leal, president of the senate = Juan Pablo Bermudez, secretary of the representatives = Antonio Maria de Esnaurrizar, secretary of the senate.</B></I>" <BR><BR>In 1830, the Texas paper money was finally exchanged in Saltillo for coin provided by the custom houses of Matamoros and Tampico. First printing. The law of the Congreso general ordering the liquidation of the Texas paper money was approved by President Vincente Guerrero on May 8, 1829, and promulgated on the same day by Lorenzo de Zavala as Secretary of the Treasury. Zavala signed both the Mexican and the Texas Declarations of Independence and was the first Vice President of Texas. On laid paper, file hole tears at left edge, plastic tape remnants at top and bottom edges. Overall, in apparent fine condition. Matted and framed to 15" x 27". <I>From the collection of Darrel Brown. </B></I><BR><BR><B>Reference:</B></I> Streeter 747 - the only other known copy is at Yale; Eberstadt 162:823<BR><BR><b>Shipping:</b> Framed - with Glass, Medium (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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