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

56387

Texas Bonds Sold during the Civil War

Currency:USD Category:Collectibles Start Price:625.00 USD Estimated At:900.00 - 1,000.00 USD
Texas Bonds Sold during the Civil War
<B><I>Opinion of Henry Stanberry on Texas Bonds Sold During the Civil War</B></I></B></I><B>.</B></I> Six pages, written on recto only, Oct. 15, 1866; being a contemporary manuscript copy of a document from Attorney General Henry Stanberry, to Hugh Mcculloch, Secretary of the Treasury, related to the status of United States Bonds issued to the State of Texas before the war, which were later sold to buy war supplies. Folio. Bound with two metal eyelets in top margin. Overall very good and clean. During the war the Texas military board sold many of the bonds through an agent in Europe in order to buy war supplies. The bonds were eventually purchased by Messrs. Peabody & Co. in London. Stanberry argues that the bonds and the debt they represent remain "<I>existing valid obligations against the United States</B></I>," and that the provisions of the Confiscation Act of 1862 do not apply to these bonds. "<I>The United States became indebted to the State of Texas in the sum of five millions of dollars, for which, by authority of Congress, five thousand coupon bonds of one thousand dollars each, bearing the date January 1st, 1851, and redeemable after the 31st day of December, 1864, were issued to the State of Texas. By each of these bonds it was certified that the United States were indebted to the State of Texas, or bearer, in the sum of one thousand dollars, redeemable after the 31st day of December, 1864, with interest at five per cent per annum....</B></I>"<BR><BR><b>Shipping:</b> Flat Material, Small (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot