The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-08-26

to this the creditors are not parties and Of course,
not bound by the provisions of any such act or
treaty, 70 which they have not yielded their assent
The creditors look only 70 the revenue pledged Tor
their security, in whose hands soever they may be,
and it is because these revenues are now ia tho
hands of tue federal government that she is held TO
be responsible for the payment of these debts.
1t Is true that the government OF the United
States, In the act Of annexation, bound Texas TO
apply the proceeds of her vacant land, to the dis
charge of these debts; but 10 the act Of tho Oh Of
September, 1850, she chose to release Texas from
this obligation, acquired the title TO large portion
of these very lands for her use aud thereby as
sumed all the liability of that State to its creditors
on every principle of national integrity aud honor
The power and the duty of settling with the cred-
tors Of Texas belong TO that State onger-it has
nothing TO do with these creditors, further than to
be acquitted and discharged from any responsibility
to pay them.
minated the ''scaling act, Is apalpabe violation of
that provision of the federal constitution which pro-
bibits States from passing laws .impairlng the OBJ
legations of contract" and is therefore to be re
garded by Congress, as it would be by the supreme
Court, as Dullity. 1t 10 not to be supposed for
moment that the Legislature Of Texas, which will not
meet again for about eighteen months will seek to
| intermeddle with this business.
Having surrendered this whole affair OF adjusting
the claims Of her creditors to the federal govern
ment, Texas has stipulated only for her release,
and if this be secured, she has nothing more to do
with the subject. There is now little doubt that a
/
favor of an honest payment of the public debt, con-
tracted in the maintenance Of their Independence.
few small politicians may so far miscalculate the
state Of public feeling, as to hope to make some
political capital out Of attempt to repudiate; but
they find no favor at home, and are held nearly as
| cheaply there they are abroad. l presume The
members OF both houses, from that State, will take
ttle if any, part in the disposition of this matter
while it is before Congress. for the l have
already stated Their position is delicate one
but it is impossible to suppose they will seek to re-
pudiate their own debt, when the government of the
United States offers to pay it. They WILL doubtless,
rather assist in raising the character of Texas and
proving that she desires to be both faithful and
| honest.
The plan contemplated, in the bill Of the commit
tee to pay these debts, is udicious and economical
and will, in fact, iquidate the whole amount with
the five million of dollars now in the treasury APP
plicable to that object This bill rises into the
| highest Importance, when we reflect that the 6na
actions of Congress on the subject will stamp oul
national character. What mark shall be fixed upon
us, it is for Congress to determine.
| have no interest in the matter beyond what az
| fects every citizen, who desires the honor of hi
country. / am neither an agent or creditor o
| Texas; but the subject being now brought forward
for public attention, by the action the committee
/ trust the course recommended viii be speedily
acted upon, SO as to end the question.