The daily union., 1852-09-07

when they took those obligations the affairs OF Texas
We're IN very critical II not almost desperate, state
that the reduced ate al which they paid for their bonds
was but fair, when you consider the risk they aud
they say that they entitled 10 all now that Texas has
got out OF her difficulties and especially as the United
States have IN acknowledged their liability
Tor them And, then, IL has not been the practice oil
the government OF the United States TO scale her debts
70 refuse 10 pay her liabilities in iu is difficult for us
10 say that we will sanction any proceeding by which
payment Tor portion OF these debts al rae should
De paid al the treasury, at rate which will leave re.
mainder OF the hive millions insufficient TO pay The other
creditors al the same rate.
wish say that trust these remarks will not be
sdered offensive 10 Texas Il is impossible TO avoid
speaking OF the effect OF The scaling ac but neither IN
the report OF the Committee on Finance, nor IN any re-
marks which may make is there any desire any
reproaeh upon that State On the contrary, have
deavored to avoid any expression which might justly
cause irritation
suppose that ii you adopt this proposition OF the
aor from Virginia. The consequence would be tina,
thing like 100000 would be paid OF the treasury
OF the United States in favor OF the claimants scaled at
the high rate and they most probably would be satisfied
hut those scaled at the low rates would be utterly dssat
ised and they would hereafter be calling the treas
ury and calling until, last. have no doubt, we should
yield TO their demands and exhaust not only the whole
amount OF The IS 100000 left, after the $S00000 were
paid but $6 100000 ~ OOo o0Oto which, with
the Accumulated interest, in the course of few years
toe remainder of the debt would amount II we adopt
this amendment, the remaining OF the Ss5 600 600
will not than onehalf satisfy these demands.
give their sanction TO proposition by which class OF
creditors, having quite equal claim upon them as the
other class shall be paid at the treasury out OF this re-
served fund, the larger which their claims
scaled and leave the others the reduced rate at
which they scaled, wait indefinite series OF
years, besiegng all the time for the full rate which
they say they have the right to demand and which, ac-
cordng to usage, have not right to deny II we
not prepared to say that will discriminate be-
tween The classes who have equal claims against the
United States, must reject this amendment.
haC Tee on haya mi M
ted proposition which believe will be satisfactory 10
all The cIedilors of Texas That proposition is appro
pirate eight millions three hundred and thry-hree thou
sand dollars $s. in bonds bearing interest OF
three per cent 10 be divided equally among all the claim
ants according their claims. do not propose now to
vndca'etha bill. but shall be prepared to do SO when
satisfactory to Texas, II will be to the
creditors But while that is pending, il seems to me that
we scarcely, without entering into It's consideration,
undertake dispose favoraby OF this proposition OF the
from Virginia will not pursue the debate fur
her have stated these considerations in order TO show
the difficulties in the way OF the adoption OF the PROPOSE
ton of The senator from Virginia.
Mr.. HUNTER do not propose to discuss this
amendment at all should be in favor of if il could
be volei without debate; but | am not disposed to
risk appropriation bills by long debate on this sub
lect and how shall vote on the amendment will de.
pend circumstances reserve my vote for the occa
sion II the could be taken without debate, should
certainly 90 for the amendment OF my colleague, MIR.
MAsosl think il better proposition than the one
which has been reported from the Finance Committee
by the senator from Maryland, Mr.. PEARCE should
not have risen now, but | might seem 10 have been
committed by the remarks OF The senator from Indiana
in relation TO that matter 1t was my desire that this
hill should not be encumbered with either proposition.
II there were time TO consider II, believe II would be
the duty OF the Senate take up the proposition OF my
colleague and that with the reported by the
Committee Finance and calmly and carefully TO con-
sider them both prefer that OF my colleague.
Mr. HOUSTON. MI President, without the reserva-
ton havisg made the law OF 1850, should
have supposed for one moment that toe government OF
the United States liable for any poruon OF the debt
of Texas. Nor do | believe that by any but an open
declaration OF theirs they assume the response
by of her debts IL would have been proper to have
ascertaned iron Texas what the actual amount OF
deb, for which the revenue arising from imports
pledged That revenue especially pledged by Texas
or the redemption OF loans, and Tor nothing else IL
not pledged any issues. Texas has not repudaied
any Of her liabilities She has arranged that by her
nIcipa regulations She had right TO do tnat. She
made several pledges OF ber for different issues
But she made special grant or pledge OF the revenue
arising from Imports except for the redemption OF her
loans She might appropriate that especially, and she
might receive in consideration OF the duties what she
pleased and ii would not affect the character OF the
pledges given. She is competent TO regulate her own
matters and she will reserve that power, lei The United
States lake what action they please
All that have TO cay this question ls that re-
greet extremely, that after session OF nine months
this is brought in subject OF discussion before the
Senate within the last three nlghtss OF the session
Texas would have been prepared, and her representa-
ves in the Senate would have been prepared, to have
taken the part which behoovei them. We do moi
want 10 interfere with the United States We wish
only to maintain the fair construction OF the laws o
Texas, and her Liabilities TO her creditors
Mr.. BAYARD Mr. President, | shall certainly vote
against this amendment now proposed and shall
vote against it, because think there no time for
discussion OF the principles involved in II, and the rel
alive importance OF the two proposl,ions-ths and the
one reported by the Finance Committee. Now, you
have two distinct propositions involving variety o
questions. ] have not had time TO examine the sub
eci, because the report OF the committee only laid
on our desks within the last four or five days. Bu
there is enough known 10 me TO satisfy me that there
is serious question be determined Is this the proper
time TO do 1t Ought this bill to be ntehered with
Further ought you treat the opinion Of the majority
Of the committee 10 whom you referred this matter, and
who have made report adverse TO the proposition nov
under consideration, with much disrepeet TO pass
without full discussion and debate In my opinion,
this amendment comes before the Senate, and with.
rejecting upon its merits. shall agains, IL, be-
cause have time TO consider IL; nor do think the
bill ought 10 be embarrassed by bringing the question now
before the Senate.
Mr. BUTLER Dir President. | have not now time "a
say what would wish to say upon this subject, but
will say thing pretty decidedb-that | think Texss
ought TO be the administrator OF her own affairs; and
when the United States undertook to supervise and cor
rect her and for Texas responsibility which she
i not disposed for berse ii is the climax o
federal assumption.
SIR, some gentlemen say there is not time TO consider
this subiect others say II there time ought
10 be considered way the other; but choose 10
say ha, there is time enough 10 consider this IN any point
OF view in which believe the subject ought 10 be
sdered and that is, allow those who may be willing to
receive their money according TO the scale OF Texas 10
come In, hle their releases, and receive their money
What objection s there to that That ia the object o
the amendment of my honorable friend from Virginia
Thara L. hat. nd vba,