Weekly national intelligencer., 1851-08-09

Il 10 about six hundred thousand dollars and this nothwh-
standing all the pains taken BY Mr. PzAncs in framing that
BILL ascertain the whole amount Of the liabilities Of Texss
receivable in payment Of duties impo for which those
duties were accordingly specially pedgsd and for which,
for that reason the United States had become BY the act Of
annexation, justly liable and notwithstanding the reply TO
bis appeal the floor Of the Senate by the Texan Senators
and his holding in his hand report from your Auditor and
Comptroller while debating hs BILL in which the amount Of
the debt stated al 027
sy four millions and fory6vs thousand and twenty
dollars and fourteen cents which by this time. be Observed
1--WE Mr.. PEARcEs own words) "must be sbou. rouR
MILLIONS HALF"
Fellow citizens Of Texas members with ourselves of the
greatest united political community earth, conure you
friends and brethren shut your sgsns the unwho
counsel Of those who for the enjoyment of momenary
wealth and power would bey you into the ways of the
wrong doer Believe that however specous may
the arguments used the contrary, the homey maxim that
honesty is the best policy il true when applied to
States individuals any individual or community
permanently prosper by whom il 10 dsegarded. Look at
your own position. The possssors Of territory,
abounding in all the elements Of national wealth and powe
the wand Of the necromance capital still wanting 10 endus
them with vitality Your Sate 10 the statue Of Pygmaon,
without the spark which gave animation Will you dash
from you the torch within your reach BY one act Of rashnes
and dshonor TO be recalled We think not. We
especially Of Pennsylvania whose Legislature 10 the hours
Of our deepest trbuason, and when entirely unable to dis
charge State promises Of interest in cash. twice scknow
dged their validity BY unanimous votes, and Afterwards paid
them II 10 subject Of no small pride that at Of these
periods Pennsylvana loans selling at thirty three cents
10 the dollar and yet not single member Of either house Of
her Assembly shrunk from meeting the emergency and
Affirming her liability for the whole amount declared on their
face We have thus enjoyed double pleasure s that Of
acting Justly, and secondly, Of knowing that acting
have promoted welfare BY ssvang our credit for the
credit Of Pennylvana never stood higher than DOW And
thus eow-citizens would have you do also. Acknow
ledge the validity your indebtedness declare your willing
ness to pay it. Without this your credit gone forever II
will be in vain that you will strive to induce the owners Of
money invest in your State loans or any OF the internal
improvement other corporations deriving their existence
from your legislative enactmen No faith will be placed in
the pledges Of Legislature elected by who have violated
previous and solemn pledges what pledge solemn
that given by community to secure, and by virtue Of
which il did secure, its national existence
But while urge this upon you as your true ndi
vdual and State policy are nevertheless far from being
unmndul Of the pecuaes and difficulties OF your position,
and have wish perform the part Of unreasonable or ex
acting creditors On the contrary, we are prepared 70 make
large sacrifice in your favor, and anxious for prompt and
amicable settlement
Speaking for ourselves and those whom represent hold
Of the preferred debt Of Texas and enclosing for your in
formation copy of the resolutions adopted at meeting Of
creditors Of which appointed the organs 10 commu
ncate with you believe that calculating the debt of Texas
on the basis set forth in those resolutions, the creditors
preferred by the Of September 8, 1850, would be
willing settle the following basis, provided our PROPOSE
ton be accepted duhg the next session of your Legislature
To receive Of the principal sum due them fifty per cent in
teres land scrip at the minimum prices for land fixed BY
your Legislature.
By this arrangement fellow-citisens, very considerable
sum, Of the Ave millions set apart for the payment Of the
specific obligations named in the act Of Congress, would
main in your hands, and would thus become available at
for State purposes be used by you might be deem
ed beneficial your interests would in fact prove
advantageous settlement for you, viewed
pecunay transaction than that proposed by bis exceency
Governor BELL. Of scaling the debt and paying interest il
scaled while would be settlement which would forever
you from all reproach You and your children could
point to il with satisfaction settlement whereby your
whole debt admitted and paid principal and interest," in
mode which your creditors had suggested.
To show that have mistaken the Governors views
quote from his message Of the 18th November, $780, the
following language The Government should certainly pay
its creditors the full Of the benefit received and
interest the amount from the time when should have been
paid The legal interest Of Texas being per cent per
annum will be easily seen, the shown to be due
the principle Of scaling the debt reported BY the Auditor
and Conptroe be taken the amount due when the ob
cations ssued that the present debt Of the description
hold thus computed interest being added would 60 far
beyond the fifty per centum willing TO receive n cash.
As to the lands with which propose that you should
the balance, the influx Of population which the disposal
the land scrip would certainly induce would greatly outweigh
advantages well in the increased value given the
in the growth Of wealth this additional population
would produce, the parting with the inconiderabe quantity
of your immense domain which this arrangement would
require If II to be viewed gatuty and we
cherish the hope that his e1ceency Governor BELL win
himself reexaminaton Of the subject become convert
| to our views.
Trusting, fllowctzens, that you may receive this propo
siton for settlement in the spirit Of snkness and
friendship in which offered, remain, most respectfully,
your obedient servants,
| VIM. D. LEWIS,
| M. g. WICKERSHAM,
| J. B. TREVOR,
| GEO. RUMBLE,
JAMES G.. VAN DYKE,
/ Committee OF Creditors.
PHILADELPHIA, JuLY, 1851.