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considered judicious to make military demonstrations soon to the other side of the Rio Grande, & in this case, the number of Volunteers that will pour in from the States armed, equipped & provisioned. The Texans have done all in their power to preserve peace with their enemy; thy have suffered insult, ?, & perfidy and should the Mexican Govt in a very short time not recognize the independence of this country - The Mexican frontier at least will be overrun with the Anglo-American case & thus it will not be easy to dislodge from any positions they may take up. This Santa Ana nows quite well, but to be the true Spirit of Mexican-Spanish stupidity addresses ? to a course that must ultimately lead to his ruin & this Man particularly when it is taken into consideration the power of his political opponents at home.

  Texas has had a great struggle to bear up against the pressure of its Financial entanglements, & most unfortunately this has been considerably ? by the condition of monetary affairs in the Southern States, but principally ? that of New Orleans, with which City Texas ? on the great mass of her cousins and relations.  It is happen that the worst or passed, and that Texas will never ? but slowly from this state of things;  what will lead to this;  that the crops are fine & large  ones an anticipated this year.
  The Government has been very cautious on the offering of Treasury Bonds, a great prudence was required considering

of our financial difficulties unclear insert with numbers & that of the United States.

  ? of course has been done, nonetheless as a considerable quantity of cotton as been exported.  About 10,000 bales this  year between ? of these are exported for R R & ? balance is ? in this lower country ?
  With regard to Mexican invasion or the possibility of the ? being in any way successful, the idea is not for one moment entertained  unclear insert should however Santana be able to concentrate forces for such on the other side of the Rio Grande the Texans with their friends from the United States and a small but efficient Navy & a few ? will be more than a match for the Mexicans - should the Mexicans be particularly smart - which is not characteristic of them - they ? 3 unclear words  cross the Rio Colorado as ? - nonetheless for the speedy ? the success of enterprises, commercial & colonizing & ? that of humanity with it is not doubled have a sure influence upon the ? who now make the ? of England and France and with the sympathy of those Great Powers which it can hardly withhold considering the political, commercial, and colonizing relations - more particularly in regards ? lands, for should Texas find itself obliged to annex herself to the United State - England would lose an important ally in Texas.
  It would appear that the French Govt are doing more for Texas than England, & this is corroborated by the 2 unclear words efforts of the French Minister in this country, & must necessarily put France upon a more eligible footing than England, in more points than one:  Thus it is desirable that ? should have