The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1852-03-20
70 r1D PEOPLE OF TEXAS.


from my intention to institute an appeal
from the decision Of your Legislature to
Yourselves. am incapable OF treating that
| body with disreapect, for many Of whose
members | entertain cordial esteem aud
SINCERE consideration.
In fixing during the present session the
scale Of reduction for the payment Of your
pablic debt. they acted doubtless in con.
| lormity to what they considered tho public
sentiment Of the county. believe, on
mature consideration. you will be disposed
to reverse tina, decision, and determine a;
once to pay that debt in faIl, through the
fundamentally Of your public lands.
Representing for othcra large amount;
Of your public debt, beg leave to approach
yoa with proposals f9I its early aud de'ini
i tive settlement IN form which nmy humble
opinion, will be eminent, beneficial to your
State, and which believe will NEE, with
the assent Of the Congress OF the United
States and your creditors who look to the
reserved s5.0o0,ooo. in the federal trcasu.
~ for their payment Is an Indispensable
preliminary, |, ia uecessar, that | should
remark tina. doubt whether the scale of
hduc,ion YOU have enacted by which the
amount due on the face of your securities
has been seriously lcssened, viii be accept.
ed generally hy the creditors, Nor do !
believe that the pfoviso IN the boundary
HI will re modified by the Congress- Of the
intcd States so as TO permi! those who
sre willing to sign their releases to receive
the moncv without sl the creditors release,
which will have tho eftc, OF suspendng
ihc 1--WE million. for ar indefinite Period in
the treasury Of the United States the sub
PC, Of uvidious di'scntion.
When the Government Of the United
Stsses. under the declaration Of TIA highest
public fuuclionr-y has admitted TIA liability
On gsy iha ,eyounc creditors OF Texas, il is
suite obvious that those who are able TO
wait will no. take from Texas twenty or
thirty per cent. Of tho dcbls which they
have right to receive, when they have
air md admitted claim for par--or one
hundred cents on the dollar On tho Fed.
e5n Government.
| hope have too much policy, when my
object i. eonc,liation aud adjustment. to
,cad Won long homiiy on the ethics Of
nabic faith, ! may SAY. however, without
,,;,, a, int.ndipy offence ,hs. no excuse
3 admitted for n State not TO pay her obli'
| cations 10 full. except absolute inability
| Ihis ploa cant,ot nval Texas. YOU have
,,o,oy-.nd lnnds tan ,imes more than
uiHcie,, I, nav every f,rthinc Of the in.
'ere.t aud principal Of Your liabilities.
Wha, nation, ancient or modern, ever con.
oncrel soeh a priceless aeaui.,,ion ~ your
,une,b ,erritorr. for the comparatively con.
,smn,ih,e sam of ten or twelve millions Of
| doll,,,y
| t,,w ,hsti asked Wh,tnst;on ever
mad or her revolutionary deb, Mt par I
| rho ro,,, In TN. question is mos, Obvious.
VIA, nation .,ceot Teres. over accom-.
,H.bea her ;,dsueod.ncc n, 40 small cost
seonired such boundless territory, or COZ.
ENDED with another sovereignty a solemn
co,nn,e, 10 Furnish large fund 10 psy her
ash,,
|, is anita ,rue our treasury notes were
.,s,,l, donr..,,,.J J,,in, ,our revolution:
IN, IN. dan,ecia,ion amounted to nothing
mora Nv, ~. nrom;um ON the risk Of tho
,n,,.,ca If ,,c fa,, of your Republic.
rbero yvo,ld hs a, much reason in r,proach
tas your ,reasury.no,e holders with usury.
a. 10 taxing an insurance office with the
came charge because they c1ac,cd prem
Jun Of sevan.y.iivs per cen, on the insur.
ancc OF vessel known to be N the very
extremity of extraordinary peri'' on the
high sens. Those who bought your treas
ury .no,cA at large discount bought them
At the marke, value; and il they had not
bought, they would have bcen more ruin
oasly deprecated, until a car, load Of your
securities would not have purchased keg
| N powder or an hundred pounds OF lead.
Nor can a fallacy be more obvious than the
assump,ion tina, a State has right abso-
lu.ely 10 determine what her public debt Is.
,.he ha, doobtles. the po,rer to do so. What
this debt il, !. established by The eternal prn.
eiple. Of T'ru,h aud the sacred obligations
| of in,,;,c wh;ch arc impressed on the face
Of evidences. Whai a nation promises 10
pau !, her pubiic debt This is at once =
definition in accordance with common
sense. and confirmed by common honesty.
believe your deb, can now be paid in
full in i. form .icnaly beneficial to your.
sely..
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