Señor Don J. M. Iglesias to The Citizen Treasurer General of the Nation, February 6, 1868

No. 1.

Department of Treasury and Public Credit.–Section 2.

By the communications which, under this date, I have addressed to Messrs. José Maria Bassoco, Raymundo Mora, and Casimiro Collado, and to Messrs. Barron, Forbes & Co., of which I inclosed to you a copy, you will be informed of what the President has determined with reference to the extinguished English and Spanish conventions.

In conformity with what is directed in said communications, you will proceed without delay to hold two public auctions, one of the titles of the extinguished English convention, and the other of the titles of the extinguished Spanish convention; the first, with the $29,649 80, which are to be delivered to you by Messrs. Barron, Forbes & Co., and the second, with the $34,184 86, which are to be delivered to you by Messrs. Bassoco, Mora, and Collado.

For the subsequent auctions there will be set apart, until the sovereign congress shall otherwise provide, a monthly sum, which shall not be less than $40,000 nor more than $60,000, which shall commence to be so set apart from the coming month of January, 1868, in the administration of sealed paper, from the product of the twenty per cent, of the federal contribution.

In case these products are not sufficient to furnish the sum designated, what is lacking will be supplied from the other funds of the treasury.

As the said sum is designed for the successive redemption of all of the titles of the foreign debt, recognized as valid and legitimate, this department will opportunely fix the partial sums to be taken from the general amount, for the redemption of the said titles, according to the categories into which they are divided.

With reference to the values and the accounts which axe to be delivered to you, you will proceed to collect the same without delay, forming afterwards the respective liquidations, which you will remit to this department as soon as possible.