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the Company and of myself, none has found out that the Company—with the utmost naivete and an admirable frankness—published a statement (Coll. Doc. pp. 67-74) in the spring of 1845, in which they proved that they were already bankrupt at that time, that is to say, that all available funds were exhausted by the first shipment of 700 emigrants in the fall of 1844. (It is true that on paper they showed a remnant of 50,000 florins equal to $20,000, but the debts left by the administration of the Prince did overrun that amount as I proved by a complete statement made by myself and sent to Europe in August, 1845.) To show what their ideas were I let them speak for themselves.
Coll. Doc. p. 67: "The sum of 200,000 florins ($80,000) is more than sufficient to defray the expenses of the first expendition (the 700 shipped in 1844) and to care for their settlement till they can exist by their own exertions."
For the future all expenses will be covered by the deposits of the emigrants.
"Of the deposit of a single emigrant at 300 fl., the Company receives 150 fl. There remains therefore for him a credit of 150 fl." (Coll. Doc. pp. 74, 75, 76.)
But even that calculation was an error; because among the items charged to the emigrants in their accounts and considered as above stated, to go to the pocket of the Company, there were:
1. The delivery of a house in the colony on the emigrant's land for $24, and
2. The transportation from the landing place at Galveston by sea to Matagorda bay, by land to the colony, shipment 1844 for $4 per person, 1845 for $8, 1846 for $11.20.
A house could not be delivered for less than $100. The transportation to colony for not less than $20 to $30. The houses had to be built in Texas, not in
