Weekly national intelligencer., 1851-09-27
THE PUBLIC DEBT OF TEXAS.

Esq. Of the District Of Columbia, was called to the
chair, and SIMEON STEVENS, Esq, OF Pennsylvania,
requested 10 act as secretary.
Whereupon Gen. HAnILToN, Of South Carolina,
chairman Of the special committee Of the creditors,
rose and said that in obedience TO the directions Of
The meeting Of the creditors when they last
bsd as Washington, the eomm,es had sppsdt the ssere-
ssy Of the Treasury 10 inform hsn which class Of the
do Of Texas entitled ,hs benefits Of the protection
Of the Prosso in the boundary In the opinion Of the Gov
eminent Of the United sasssn inquiry Of indispensable
necessity The Of the Executive would be required
BY The 10, Of Ocoser whom would b. required to sign
releases the Treasury Of the United States BY ,hsi time in
conformity with the saaisiions Of the Treasury circular.
The Secretary Of the Treasury informed your committee
that careful ezsminson VI the law, be found that this
decision dssossd exclusively the President Of the United
States TO whom he referred your committee.
On our waiting upon The President be wss pleased to in
form your committee that by the time Of meeting on this
day, st Washington, h decision would bs communicated 70
the committee, which. With The permission Of the meeting.
would now be esd and be made part Of their proceedings
TnrAsuRY DHsARrnsxT, eSrrsnsrn rs, 1881.
sIn The President hes decided In the matter Of the Texsn
public debt F. Thst only I've millions Of the stock can
Coogrsss o the sh Of sspssabsr. 1850 are sd In the
Treasury Department for oil the, portion Of ssd dsb which
issued prior 70 the i4th o January. is<O Ia hs judsmsnt
the oct Of the republic Texss o The lSsh Of January lsl0
specially psses The dses imports Cor oil the public debt
Of Texas created prior 10 The pssssgs Of that oct.
Sco That 81 ths ssuss of Tsxas boods certificates of
stock or notes. nsde receivable " for oil public dues are
claims for which the dutss imports pledged within the
meaning Of The Of Conssss Of the 9th Of September
$780, and releases Of oil such b 6lsd In the Treasury
Depamsnt % provided IN the lssusmsd sc before he can
be justified 10 delivering the remaining i've millions Of sock
10 the authorities Of Texas
rvA-
cison you. in compliance with your request made in behalf
OF the creditors OF Tsxss
am. respectfully, your obsdient servant.
THOMAS CoRwIN.
Secretary Of the Treasury.
General JAMys HAMILTON,
Chairman Of Committee Of Creditors Of Texas.
After reading the letter Of .hs Secretary Of the Treasury,
Gen. Hamilton then ssid shst might 10 be the duty
Of the committee 10 submit plan os the settlement Of
the public debts Of Tsxs which would be essentially neces-
say the meeting should deem Il expsdisni 10 msmorslse
the Legislature Of Texas on Ns subject
The committee, Of The intrinsic difficulties incident
the preparation Of such scheme Of adjustment and that
Texas would doubtless, ser oil, ssssn and exercise %
sovereign State The right Of defining fixing and paying her
public debt such basis shs may deem just and equi-
table, have forbone dssr any formal resolutions on
the subject He auhOssd however, present for the
information Of the meeting . paper containing prgs
for settlement which be- thought the Of Texas
might bs obtained provided il should command the appo
val and concurrence Of large majority Of the eredi,on
He would now read the pspsr In question II il did nos
ob,ain elected by dscusssn the appreciation Of those pre-
sent, be authorised withhold the paper that il nigh,
form part Of the formal proceedings the meeting they
resolved that propositions Of theirs should form the
elements Of dscod among those whose interests dictated
only the policy Of harmony and union among themselves,
but observance Of the utmss Cancellation and respect
Texas.
After this paper was read animated discussion took
place the basis which Texas ough, settle with her
creditors, 10 which Mr. HousTos Of Delaware, Gen. Coxss,
ofKentucky, Mr. STEvExs and Mr. GRuHD Of Pennsyvans
Gen. HAMLros Of Soulh Carolina, and several other gen.
temen took part.
nlies.;.s sS opipsa
among the members Of the meeting Con- HAxroS, in
cluson said that be would offer for the action Of the
meeting the paper which the committee had prepared,
quite obvious unanimous concurrence could not be
obtained among those presen, this and be iesred any,
plan Of settlement which would have be s the Less
ature Of Texas, whom rghtully and morally belonged
Il was then
Resolved That the proceedings Of this meeting and the
letter Of the Secretary Of the Treasury be published
The meeting then adjourned sine die.
RICHARD SMITH, Chairman
SIMEoN STKvISs, Secretary.
p g. Since the adjournment Of the meeting ai the request
Of the committee the Secretary Of the Treasury hss obgnsy
communicated his report to the President which his de-
cson was founded, which published with the above pro-
ceedings for the information the creditors generally
THE REPORT TO THE PRESIDENT.
In obedience to your ode proceed report the cond
on and Of the debt Of the late Republic Of Texas
reported 10 by the authorities Of the Sae and present
very briefly my construction Of the powers and dutes Of the
President prescribed by the 6s section Of the act Of Con-
gress, approved September 9th, 1850.
By the act referred to- consideration Of certain
sons by the State of Texas, provided that the United
States shall pay to the State Of Texas the Of ten MIL
lions Of dollars in q stock bearing Eve per cent interest, and
haf-yeary at the Treasury Of the United States"
In the same section Of the Law il 10 further provided
that no than Eve millions Of said stock shall be issued
until the creditors Of the State holding bonds and other
icaes of stock of Texas for tchich duties nporfs
,cere specially pledged shall first file s the Treasury Of the
United States releases Of al claims against the United
States for osaid bonds certificates Ia such
form shall be prescribed the Secretary Of the Treasury
and approved by the President Of the United States"
The release thus provided for has been prescribed by Tho
Secretary Of the Tresury and approved by the Predent
mercia cities Of the United States and oil persons holding
claims of the kind specified in the foregoing proviso
oued file their releases Tin the form thus pfescbed) In
the Treasury of the United States before the t day
of October 1851 Although this publication has been con
nued from the 25h day Of March, 1885, yet up this time
comparatively few releases have been filed by the creditors Of
Texas.
BY the terms Of the law the President is TO cause the
stock to be issued and the restriction which forbds the 10
orc