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Texas Railroad, Navigation, and Banking Company chartered
On this day in 1836, the Congress of the Republic of Texas chartered the
Texas Railroad, Navigation, and Banking Company. The short-lived company
was authorized to connect Gulf ports by canal, to construct railroads
wherever desirable, and to have banking privileges as soon as one-fifth
of its capital stock of $5 million had been subscribed. Though Congress
approved the charter without opposition, and though the company
apparently had the support of Sam Houston and Stephen F. Austin, it
became a political issue in the election of Anson Jones, who attacked
the venture mainly because of the banking provision. Unable to sell its
stock because of public opposition aroused by Jones and because of the
panic of 1837, the company collapsed before achieving any of its
ambitious goals.
- Links to Related Handbook of Texas Online Articles
- TEXAS RAILROAD, NAVIGATION, AND BANKING COMPANY
- CONGRESS OF THE REPUBLIC OF TEXAS
- JONES, ANSON
- BANKS AND BANKING
- REPUBLIC OF TEXAS
- Other Texas Day by Day Articles for This Date
- Republic of Fredonia stillborn in Nacogdoches (1826)
- Sul Ross takes command of Confederate cavalry brigade (1863)
- Future Texas governor born in Georgia (1861)
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