Williams Party Boats

Samuel May Williams was an American businessman, politician, and close associate of Stephen F. Austin. As a teenager, Williams started working in the family's mercantile business in Baltimore. Later he traveled to South America and learned to conduct business in Spanish. He returned to the United States, this time to New Orleans, working there as a merchant, where he also learned French. About three years later he left New Orleans in debt, fleeing to Mexican Texas in 1822. Stephen F. Austin hired Williams for his colony in 1824, clerking and later adding the title of secretary to the ayuntamiento. He worked for Austin for several years. In 1834, Williams quit as secretary for the Austin Colony to work as a merchant, then formalized the partnership of McKinney and Williams. The next year he also made deals with the provincial government in Monclova government for a bank charter and for large tracts of land in Texas. At that time he served the Brazos District in the Coahuila and Texas legislature. However, by 1836, Williams and his partner, Thomas F. McKinney, sided with the Texians against Mexico. Williams borrowed money against his family's lines of credit, which the partners applied to ships and ammunition on behalf of the rebel government. After Texas gained independence, Williams focused most of his business activities in Galveston. Through the McKinney and Williams partnership, he was invested in the Galveston City Company, and established diverse business interests there. He represented Galveston County for one term in the Republic of Texas legislature. He was a partner in the McKinney and Williams mercantile business until it was acquired by Henry Howell Williams in 1842. After 1842, Williams worked toward establishing a bank in Texas. He briefly returned to public service when accepted a diplomatic mission to negotiate a treaty with Mexico, which had still not recognized the sovereignty of the Republic of Texas. In the first year of Texas statehood, he ran twice for the U.S. House of Representatives, losing both times. Williams focused on his project to introduce the first bank in Texas, succeeding in 1848. The Commercial & Agricultural Bank was the only institution to legally issue paper money, though his charter and the bank's practices faced legal challenges throughout its existence. These included anti-banking legislation and scrutiny from various Texas Attorneys General. Favorable decisions rendered by the district courts saved Williams for the first four years of C & A Bank. After 1852, however, the legal and political climate turned against Williams and his bank. C & A Bank remained solvent even in the face of the Panic of 1857, but anti-banking politics was on the rise. At this time, many of his friends and allies distanced themselves from the bank and encouraged Williams to give up the project. Williams died on September 13, 1858.
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