The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-09-20


WASHINGTON, Sept. 10, 1851.
Itras Credit~s-Mesting on the Subject-IM Dec
of Isras-GeReral Scott-Dr. Gardiae-Mr
Corcoraw and the Hungariaas.
The meeting of the Texas creditors passed on
very quietly; quite number Of creditors present.
An attempt was made to release Texas of part
Of her Indebtedness, and advocated principally by
he preferred creditors. But when the treasury
note and bondholders evinced their willingness to
do so, provided the residue be paid equally (po
raa) among all the creditors, the preferred cred-
tors backed out, and the resolutions of the unit
tee, which were only oonditionally offered, were
withdrawn: subsequently, Others were offered and
tabled, and 1t was evident that between the two
sets of creditors there could be no final agreement.
1t is now believed that some of the preferred ere
ditors have taken rather active part in assuring
the people of Texas that the bondholdsrs will be
but too glad to accept anything in payment; but
in this they will find themselves mistaken. The
bondhoders will never consent to their claims being
scaled while any other class Of creditors receive pay
ment in FULL and the the good people of Tex
as made of this fact the better it will be
for their true interest believe Texas could settle
all her debt with sixty cents in dollar; paying the
balance Qorty cents, and interest ON principally in
lands ut fifty cents an acre; and that, in this way
she could save between four and five millions out
of the ten millions voted to her by Congress. Bat
if she attempt to discriminate between different
classes Of creditors, she will never get them to
agree, and the suspended debt will ure her ere dit
and prevent immigration.
Free Of debt, Texas would soon develope her in
mense resources, and enter upon tha arena OF pro-
gross with the most advanced State Of the Union.
With the charge of reputation against her, and
the debt suspended over her head, she will olfsr
bit few inducements to the best class of settlers
The scaling process was, no doubt, originally re-
commended, or at least encouraged, by few int.
rested pc ,sons in the State, wh' presented private
claims, with view to distribute larger amount
of money and lands among themselves. If Texas
wants to prefer particular class of creditors, VINO
have rendered the Safe personal services, she may
do SO with her own money, not with the money
which, in honor an good faith, she is bound to dis
tribute among all her creditors Texas is not
bankrupt; she is in proportion to her population,
richer than any other State in the Union, and lay
reward her particular friends and favorites here
after. What is now wanted is an equal distribu-
ton Of her means, ut least portion of them,
among all her creditors and this she is bound to
do, if she would maintain an honorable place in the
family of States Of this confederacy. Reputation
is exploded doctrine, even in those States which
are now unable to pay; but it is a base and mex
cusable crime in a State which has abundant
means to discharge her whole debt houorably. The
swndling process does not become bit more ele-
waited from the fact that it is sovereign State
which commits the vany. The idea, on the part
Of the Texas financial ftibsteoS, that it is )nest
to pay back the amount realized from their obliga-
tions, with interest, is about as just would De
the act of the lottery ticket seller, who, when his
customer has drawn a prize, should refuse to pay
it,, but offer, as proof OF his moral honesty, to
refund the price Of the ticket, with interest How
much would Texas have refunded, if her attempt
at revolution had terminated like that of General
Lopez on Cuba 7 What will be the amount now
paid to the Cuban bondholders
General Scott has returned to his head-quarter,
in this city. He says he nothing for the Pre-
sdency, only that his family DESTROYS of living
in the White House, and that, for their sake, (hs
likes to bumor themD he will consent to run.
The General is as good a father as he is great
captain.
DR.. Gardiner has placed himself at the disposi-
tion of the government, to stand his trial, aud
defend himself against the charges brought against
him by all bis accusers.
Mr.. w. w. Corcoran, our benevolent banker,
has gone to New York to devise means for convey
ing all the Hungarian refugees, lately landed from
Shumla, Asia Minor, to the settlement Of General
Ujhazy, in the State of Iowa. The expense is sup
posed to be between 81 800 aud s2 00J. Mr. Cor
c0ran asked to head a subscription for the
purpose, but preferred az once to become resp
for the whole amount. +.