The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1851-11-01
oQR PvDaso lnup ss.s,ss

ccuNors OF As1VVos0po01o4 &04N5t4s
port drawn - BY him q ClxIs1is6 e !
comsisss appointed Il s,s.siwa n a.
er~ditoes Of Texas, asssmblsd = n sahias.
~ City On he II Of Fsbssaty iase, "a
ssbm'tssd At second eoevsntlon on ths
I5sa II sensrosr. We rsr,ot dat ws
have not room for this letter and the report,
a. they are very Interesting At ;hiA time.
The report recommends that Texas
should pay over 10 cash to the creditors
seven millions Of money; aud il any cred.
ltor should receive less than the par amount
Of his claims. principal aud interest, the
residue shalt be paid to him in land certia.
cates at the rate Of one dollar per mere.
That the Secretary OF the Treasury Of the
United States shall be furnished with tho
amount due BY Texas, and empowered 70
settle with her creditors, paying them the
amount coming 10 each, with the necessary
land certificates. That nm agent Of Texas,
in the mean time, be empowered to sell all
bonds due Texas from the y. States, or IN
Europe. That the Legislature Of Texas
be requested To assent 20 sucl, mod'fica
ton Of the boundary nc; and Of the proyiso
in the Pcarce Bill, aswill enable the creditors
to receive their respective amounts, without
the necessity of awaiting for the concurrine
assent o.. he other creditors. tAs il is III
present, releases must be filed for every
claim against Texas before the United States
will surrender up the reserved five millions,
which seems TO be very unpalatab'e to Gen
Hamilton, and other creditors Of 'rcxas.)
That II Texas agree to the above terms,
that Congress be requested to survey the
lands aud divide them into sections.
This report was unsatisfactory to the
creditors, inasmuch as il recommended II
discrimination in the cash payment to be
made to them, severally. Gen. II. belicv.
ing, az he assures us, that while he recog.
nixed tho moral obligation Of Texas to pay
the full amount OF her debt according o its
face value, that those who had lent her
money at a hundred cents in the dollar
were entitled to be paid the full amour, OF
their claims before those who had pur.
chased bonds at FIVE cents ia the dollar
came in for share.
As soon as tho discussion commenced
among the creditors. Gen. II. tells us that
finding there could be neither agreement
nor conformity of opinion. he Withdrew his
report. and declined taking the sense Of
the meeting on the same, which would only
have indicated how little we lthe creditors)
agreed among ourselves
The letter Of Gen. Hamilton is very
respectful and able document. lie argues
that it ia hes, for +. sas to pay the full
amount OF her claims. in order to avoid the
siss rue of repuo'a,iou aud by paying It,
- rec or,u. ndcd in hIs report, she will
re-. :, three millions of dollars Tor herself
AZ dis e. ol portion of her pubic lands
in such !. mauner ~ to enhance the vslue
Of the remainder; that she will A" substitute
hardy and ndustriou. settler for the Ca.
n,arche that now roam over these wilds in
comparative security"
We have not room for comment on this
letter and report. bnt submit il TO the con
alteration of our fellow citizens who have
already determined, and Instructed the of.
iieers o: the state. that our public debt Is
to be paid at its scaled valuation. This de-
cision we have regarded ms just; ami we
are We, to learn system OF moralit v which
enjoins upon us the duty OF paying the
wars, species of our creditors six hundred
,,.s cent on the value OF their Investments,
Will, ~ @ cut of those who gave us dollar
for dollar. with ten per cent on their claims
w. can onIy 10 jnss'ce to all BY paying
the nll amount we receis'd' wat" lar M
terest. Ru, Il any ,.Ncrs ar" 10 ne shown.
we afc Ier granting then. 10 'o"S WI" VERY
49,, ,,u., f,;.,a. Il, o.. ,iut. r. the fevolu.
ia, Ard 90 sho,M hear IN mud. that
our Indebtedness doe. not iefril'. ate WIZ"
those claims we should never lorg, thai
sue hing Is due 10 ihe defenders ct me
coul during IL darkest days. ut least
to Ia who need IT, Tins Is debt "l
gratitude that We feet assured viii be paid
Texas will never suiTe, those who perlled
every ,h.ng il her service, 10 sufFcr for Che
nece ssaries OF life.
or We may anticipate large em'gra-
ton to Texas daring the coming year A
gentleman who has made tour through