The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-08-09

pathetic feelings prevail in some OF the southern States
and it's difficult TO say how far The inhamed spirit may
be dI1used This condition Of things threatening the
peace OF the Union. II should he terminated at once I'M
less we are willing TO see discor prevailing and the
strength OF the government tried in the collision between
State and general authority which cannot be avoid
ed except by some such healing measure this. No
one can doubt that ought these evils
70 relieve the country now iron the asi,ans Questions
stop The ordinary OF legislation aud threaten to
stop the wheels OF government II not to result IN dsso
luton OF those bonds which constitute ns one people
Sir cannot be msensible to such considerations feel
as strongly any the absolute necessity OF doing
something put end 70 qaesllon which menaces Us
with consequences 80 serious, hpI a,a rsn a I Ss
modified BY the Senate in any manner agreeable 10 them
il will accomplish the purpose for which was de-
signed
the attention oil the Senate for few momens and that
is the provso attached To the last clause Of the bill IL
has been proposed by some INA! ,ne United sa.es should
may TO Texas among her creditors but have put no
such provision as that in the bill, and for several
sons In the irs place do not wish We United States
to become commissioner In bankruptcy for Texas; and
in the second do not want 10 place Texas IN Tue cond-
lion Of appearing 70 be Obliged % be placed in the hands
OF commissioner of bankruptcy. II seems to me that
while il would be impolc in to undertake that which
we have not the means OF doing properly Texas eau
with safety to her creditors and honor 70 herself make
this distribution. II would also be indigny to the
Stale Of Texas Sir one Of the highest afronts that
could be offered 10 honest man would be to say,
when he has ample means to discharge his debts, that
you suspect his honor aud will not trust him with the
money devoted to this purpose. II is quite offensive
undoubtedly to State to suppose that she will be faith
less and fraudulent in settlement with her creditors
au not willing to make such mpuation on Texas
suspect in the least her honor the honor OF her
legislature l willing TO submit the matter to her
decision and TO let her settle with her creditors with
The means with which have provided her But
admit, at the time, that j is right TO guard the
treasury OF the United States from the contingencies
which may flow from this measure, if Texas should not
~ rava ia hareF
ors in full, but Hpon reduction of their claims for
principal and interest due by them with their assent
Il is possible that al future time these creditors,
even alter having consented 10 take seventy cents in
the dollar il that can be supposed may come back on
the government Of the United States and demand the full
amount propose to guard against that, and Tor that
purpose have introduced The last poylso in the bill
provides that of the ten millions OF five per cent stock
10 be issued alter the State OF Texas shall have assented
these TERMS and sgnifed her assent proper form 70
the government of the United States. shall retain five
millions until such time full release shall be filed IN
the Treasury OF the United States by the creditors hold
ing those bonds for which the duties on the customs are
pledged The arrangement rendered necessary by this
provso may easily be effected BY these creditors and Tex
az. On the presentation of these claims, tand believe
they all have been presented under the act OF the egs'
ature OF Texas of lS4S which called upon the creditors
to exhibit their caims the amount oil which is furnish
ed in the statement referred 70 not long ago., to the
treasury OF Texas is perfectly competent Tor Texas 70
give them orders for stock the treasury Of the United
States for the amount TO which they may be entitled By
any arrangement which may be agreed upon between
them and these ORDERS being filed IN the treasury De-
pament, will be ample security to the United States and
protect from the possible demands TO which have re-
iened The necessary details be prescribed by the
authority OF the Treasury Department
have now, Mr. President, noticed briefly all the fea-
lures OF the bill which have presented hope il will
pass because feel sure that its passage will Immediately
remove the most troublesome OF the which have
disturbed legislation during this long and weary
sion. That out of the way, we may hope 10 dispose Of
the others speedily, and give quiet content and harmony
TO the country.
On Mr.. PEARcE's motion the bill was then ordered to
be printed and made special order.