Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1845-06-13
THE DEBT OF TEXAS.

Durlng tne pOIllCal campaign OF last year very
discrepant statements were published as to the a.
mount of the public debt of Texas. 1t was insist
ed by the opponents of Annexation that the debt
was not much short of tirenty millions of dollars
while the advocates of this measure protested with
the utmost confidence that the debt would not ex-
coed sir millions. An effort was made in the
House of Representatives to procure some authen
tic information on the subject; but in answer to
"calp for that purpose the Secretary of State re
piled in effect that he had no information to give.
1t is not probable that shall obtain any detailed
satisfactory statements IN regard to the items and
aggregate amount Of the Texas debt until the lone
Star has become bone of our bone and flesh of
our flesh There are very many and obvious rea-
SONS why the Texas authorities should keep dark
on the subject until the project of annexation has
been fully consummated But as the period for
the anticipated union draws nigh, limitations be-
gin to be dropped in various quarters from which
some light is thrown on the point in dispute. Thus
a New Orleans correspondent of the National In
telligencer in letter of recent date furnishes the
following items of Texas debt, and gives us some
insight into the process by which that debt has
been so largely and SO rapidly increased -
81 know one concern that holds upwards of one
million of dollars of Texas paper and three others,
each of which holds upwards of four hundred thou
sand dollars, beside the claim Of the house in Bal
tmore thst specially provided for in the treaty
of annezatlon for nearly three hundred thousand
dollars.
If it is asked how Texas in so few years could
cave incurred such debt, reply, by issuing de-
precated currency and paying one hundred dol
lars for barrel of -four one hundred and fifty dol
lars for barrel of pork, twenty five dollars for
pair of soldiers Shoes and in like proportion for
all supplies and purchases, joined to the total want
of system or accountability in her expenditures
and finances, and an utter recklessness and waste
in every department 1t is fac. well known III
this city, that one of her Ministers or Charge d.
Ataires, on his arrival here, sold sixty thousand
dollars of paper for five thousand dollars specie
funds for his salary; and when all the expendit-
ures of Government are made at such ratio, Is
not her large debt readily accounted for? A most
determined and systematic effort will be made to
fost this debt on the Treasury of the United States
and if it is to be assumed, it is but right that
the American people should do it with their eyes
open.'
1t is quite apparent that if the same thrift which
characterized the proceedings of the Texas Charge
and Commlssariat, as above related, has pervaded
the action Of all departments in the Texan Gov
eminent, the largest estimate yet made of the Tex
debt will fall far short of the reality. But what
of that? BE the debt five millions or fifty, Texas,
if she does not belle her history and charac,
ter, will speedily rid herself of the burthen by re-
piidaton; or, if this reasonable expectation shall
be disappointed and the obligation TO pay the debt
devolve upon Uncle Sam, who will stop TO count
the cost Of enlarging the area of jreedom'?-
Jour.