Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1851-12-16

tisipated surplus in the Treasury
Should not be absorbed by appropria-
ti}ns Dc an extraordinary character,
tifs surplus Should be employed in
su eh WAY, and under such restrictions,
AS Congress may meet, in extinguish-
ins the outstanding debt Of the ma
ton. -
|. BY referring to the act 6fGongress,
approved the 9th September, 1851,
it will be seen that, IN consideration
of Ger pain concessions BY the State
of Te xas, it is provided that the
Omitted States sh8l pay to the State
of Texas the. sum of ten millions OF
ddllars in a stock bearing five per
Gel ut. i Interest, and redeelh able at the
end of fourteen Years, t pc interest
paEabI e hs.lf yearly, at; the Treasury
of the United States"
In the same SECTION of the law it
lis fnr4her provided .'tha It 10 more
thhn FIVE millions of said stock shah
beIissue ed until the creditors of the
State holding bonds or certificates
of stoqk of Texas, Tor @Asehbdntles
on tmfYfts tco.e S eeldl3y pledged,
small first file at the Treas fury of tie
Tilted States reledses Of all claims
against the United States, for or on
acfount Of said bonds bf certificates,
/ in such form as sL4ll be prescribed
iby tho Secretary Of the Treasury,
ElllIl approved by the Resident 81
Fth4 United States
trhe form of release thus provide
lo1 has been prescribed by the seAr4-
| ta1y of the Treasury. and APPROVED.
1t Ihas been pubhsh4dj8 I'LL the l. d-
| ind newspapers IN TN commercial
cities 4f The United STATES, and all
pet on4 holding claims iof the kind
Specific in the ipregoihg proyi4o
we're required to file tier releases ZIP
thd form thus prescfibed in tile
Treasury of the United States, onidl
before 4he lst day Of Octd bcr, 1851
Al EhouEh this publication has been
colI tinugd from tile 18th day 81
M,lrch, 1S5l, yet up to the lst d
Old obeI last COMPARATIVELY few re-
led ses HAD been fled by tile creditors
Of Texas.
Tie authorities of tho State Q.
Texas, at tie request Of be Secreta:
ryi Of tile Treasu ry, have furnished
a schedule of the public qebt of that
lSdlte cheated pril i 10 hef admission
into the Union, VI 18th a dopy Of tht
LAWS under which each cl fss was CON
itr4cted.
/ II have, from the doedments fur
Shed lIy the Sta tie Of II Kas, deter
mined tlIe classes Of clailhS which il
MY judy ment fall within the pfoyis-
tiohs Of tLe act of Congress Of the
Obj of Sept, Is 90.
ION bding olhdially infoF med of tht
acldptalIct ~ lex as 0f tie PROPOSE
tigns contained lii The aGr referred to
/ caused the stock toy b E prepared,
ami tue five mllho us shlcl are 10 be
lssped Internationally, bfa ring an In
telest Of five per dent. il plhI the Isl
day OF January, lS0l, lEi4 been lot
some tiI4e ready TO te delivered To
I thd SLat4ioi 1eAaS. HE authorities!
OF Ilexa4, UP to the pre5ent time,
have not autno1izdd any one to re4
celye thiY stock, and tIremains III thd
Treasury Department., Subject TO the
or.ler oil Texas.
HE releases, required by law to
be deposited il tAe Urea ury, not
having bben filed ihere, the remain
Ing I'VE millions nave 10 been Is
sued. This last amount OF tie stock
wifi be WITHHELD from Hc Xds Inal the
com lltIonB upon which it is 70 be de-
live bed shall be conn hed WITH by
the creditors OF that State, unless
Congress Shall otherwIs e direct by a
modlncati0n oi the iaN
| b pT last annual NE ssage, to
which | lfspectluily refer, | seated
briefly THE reasons winch lnh uced ME
to recommend the mpdiiitallon Of
the present. tariff, /cony ertlng the adj
yalqrem Tito Il specific duty wherey-
er the al dele I'M ported was 81 such
cililrdctef As to 4 ennit it, and that
such dik frlmlna lion sh paid be made,
Ia favor lf the industrial pursuits
OF our own couH Try, as 10 encourage
home PRO ductlon without e xeIudlng
foreign cpmpetitlon.
Tue b LmerolEs frauds Which con-
tinue to b4 praG4Iced upon lne reve-
nue., by l,lse inv pices and undersal-
uationS, ddnstitute an hnallswerable
reason let adopting specific instead
of Ak v.iIhretn lluflt.S IN All eaSac