Propositions made by sundry Individuals of New York to the
Commissioners appointed by the Provisional Government of Texas to contract a
Loan in the United States.—
The parties subscribing propose to Loan to the Provisional Government
aforesaid, five Hundred thousand Dollars, more or less, on the following
conditions.
1st The Bonds of said provisional government and a certified copy of
the authority under which the said Commissioners act, shall be deposited
in the hands of such Trustees, as may be agreed upon, as a security for the
payment of the amount to be Loaned, agreeably to the Subsequent
Stipulations.—
2d- The Loan to be made for five Years from date upon an Interest of
Six per cent per annum payable semi annually in the city of New York.—
3d- Certificates of Stock, to be issued to subscribers to the Loan, in
Shares of Eighty, one Hundred and Sixty; and three Hundred and Twenty
Dollars.—
4th The commissioners to pledge themselves to exert their influence
with the said provisional Government to obtain for the individuals loaning
the money, the option to take Lands of the Public Domain of Texas in
payment of said Loan at fifty Cents pr acre at their option, at any time,
within Five years from the date named in the 2d- article. The said
Commissioners, firmly believing that the option, will be at once granted, by the
said provisional Government.—
5th- Ten per cent only of the amount subscribed to be paid prior to the
decision of said Government with respect to the conditions Stipulated in
the preceding Section.— And if the Government of Texas refuses to permit
the subscribers to take the Lands at fifty Cents per acre as therein
stipulated, then the 90 p % is not to be calld. for.—
New York April 2th 1836.
[Addressed:] S. F. Austin Esqr. New York