The Famed TEXIAN LOAN

Even before Texas Independence was declared on March 2nd, 1836, Texans were busy raising much needed capital.  Stephen F. Austin, famed for his unfailing efforts to bring Americans and Europeans to settle in Texas, was commissioned along with William Wharton and Branch Archer. The three traveled east to New Orleans and thence up the Mississippi & Ohio Rivers and eventually to Washington, making impassioned speeches along the way to solicit recruits and supplies to support the cause of Texas Independence. Wharton was a gifted orator and Archer was a physician and a graduate of William & Mary who served at the Battle of Gonzales.  These rare TEXIAN LOANS, issued by the "Government of Texas" were sold to investors for $320 each (roughly $8,500 today) and paid 8% interest and were guaranteed by the right to buy 640 acres of choice land in Texas at Fifty Cents an acre. Their efforts were successful, raising over a quarter of a million dollars to help fund what became the Independent and Sovereign Republic of Texas after Houston's Victory at San Jacinto on April 21st, 1836.