TEXAS RAILROAD, NAVIGATION, AND BANKING COMPANY
TEXAS RAILROAD, NAVIGATION, AND BANKING COMPANY. The Texas Railroad, Navigation, and Banking Company, chartered by the First Congress of the Republic of Texas on December 16, 1836, 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 $5,000,000 had been subscribed. Among the incorporators were Branch T. Archer, James Collinsworth, Thomas J. Green, Thomas F. McKinney, A. C. Horton, Augustus C. Allen, and Moseley Baker. Apparently Sam Houston, who signed the charter, and Stephen F. Austin, who was persuaded only at the last minute not to enter the company, both sanctioned the enterprise, and the charter was approved by Congress without opposition. The charter did become an issue in elections for the Second Congress, however, particularly 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. Its brief existence aroused personal antagonisms that were reflected in Texas politics for a long period of time.
Charles S. Potts, Railroad Transportation in Texas (Austin: University of Texas, 1909). S. G. Reed, A History of the Texas Railroads (Houston: St. Clair, 1941; rpt., New York: Arno, 1981). Herbert Gambrell, Anson Jones: The Last President of Texas (Garden City, New York: Doubleday, 1948).
Image Use Disclaimer
All copyrighted materials included within the Handbook of Texas Online are in accordance with Title 17 U.S.C. Section 107 related to Copyright and “Fair Use” for Non-Profit educational institutions, which permits the Texas State Historical Association (TSHA), to utilize copyrighted materials to further scholarship, education, and inform the public. The TSHA makes every effort to conform to the principles of fair use and to comply with copyright law.
For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml
If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.
The following, adapted from the Chicago Manual of Style, 15th edition, is the preferred citation for this article.Handbook of Texas Online, "TEXAS RAILROAD, NAVIGATION, AND BANKING COMPANY," accessed July 07, 2020, http://www.tshaonline.org/handbook/online/articles/dft01.
Uploaded on June 15, 2010. Modified on March 28, 2016. Published by the Texas State Historical Association.