The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-07

LITTER OF JANTs HAMILTON TO TIE rEoPLs or


FELLOW CrrIzrEs.-It certainly is remote from
nv intention to institute appeal from the decision
ofyom Legislature to yourselves. | am incapable
Of treating that body with disrespect for many Of
whose members entertain cordial esteem and SIM
Cere consideration.
In fixing during the present session the seals of
reduction for the payment Of your public debt they
acted, doubtless, in conformity to what they con-
sidered the public sentiment of tho country | be-
heye, on mature consideration you will be disposed
to reverse that decision, and determine at once to
pay that debt Ill fun through the insrumeutality Of
your public lands.
Representing for others large amount Of your
public debt, beg leave to approach you with pro-
posals for its early and defnitys settlement in a
form which, in my humble opinion will be emil
neatly beneficial to your State, and which believe
will meet with tie assent of the Congress OF the
United States and your creditors, who look to tho
reserved s. 100000 III the federal treasury for their
payment. AS indispensable preliminary, it is
necessary that should remark that doubt whether
the scale of reduction you have enacted, by which
the amount due on the face of your securities has
been seriously lessened will be accepted generally
by the creditors Nor do believe that the proviso
III the boundry bill will be modified by the Congress
OF the United States so as to permit those who
willing to sign their releases to receive money with
out all the creditors release, which viii have the
effect Of suspending the Ave millions for an indefinite
period in the treasury of the United Statas-the
subject of invidous discussion.
When the government of the United States under
the declaration Of its highest public functionary has
admitted its liability to pay the revenue creditors Of
Texas, il is quite obvious that those who able to
wait viii not take from Texas twenty or thirty per
cent Of the debtswhch they have right to receive,
when they have fair and admitted claim for par
OF one hundred cents on the dollar--on the federal
government.
hope have too much policy, when my object is
conoiliston and adjustment, to read you long ho-
mily on the ethics Of public faith. | may say, how
ever, withoat giving or intending offence, that
excuse is admitted tor State not to pay her obi
cations in full except absolute inability. This plea
cannot avail Texas; you have money and lands ten
times than sufficient to pay every tarthing of
the interest and principal OF your liabilities. What
nation, ancient or modern, ever conquered such
priceless acquisition your superb territory for the
comparatively contemplate sum of ten or twelve
millions of dollars
her revolutionary debt at parl The reply to this
question is most obvious. What nation, except
Texas, ever accomplished her independence at so
small cost. acquired such boundless territory, or
concluded with another sovereignty solemn COM
pact to furnish large fund to pay her debt
III IS quite true your treasury notes were greatly
deprecated during your revolution; but this depre-
citation amounted TO nothing more than the premium
ON the risk OF the Insurance of the fate of your
public There would be as much reason in reproach-
ing your treasury note holders with usury as in tax
ing an insurance Office with the same charge because
they exacted premium Of seyenty6ye per cent. on
the insurance Of "A vessel known to be in the very
extremity of extraordinary perls on the high seas
Those who bought your treasury notes at large
discount, bought them at the market value; and if
they had not bought, they would have been
rrnously deprecated until CARLOAD of your securi-
ties would not have purchased keg of powder or
hundred pounds of lead. Nor can fallacy be
obvious than the assumption that State hasa
right absolutely to determine what her public debt
is She has doubtless the power to do So What
this debt is is established by the eternal principles
of truth, and the sacred obligations fiustce which
are impressed on the face of its evidences. What
nation promises TO pay is her public debt This is
at once a definition in accordance with common
sense, and confirmed by common honesty.
[ believe your debt be paid in full in
form signally beneficial to yourselves.
With becoming Difference, suggest plan of
adjustment, which is recommended by its justice
and policy. and, ! believe, feasibility.
IfTexas will cede to the government OF the Uni
bank of the main fork of Red river, where the
l00th meridian west Of Greenwich intersects the
same; thence north, with that meridian, to the pa
rael north latitude SO 80 thence west, with that
parallel to the l03d meridian west of Greenwich
thence south, with that meridian to the north bank
OF said main fork Of Red river on to point due
west from the head thereof; thence to the said
head, and down said stream, with its north bank,
to the Notwithstanding %, 800 square miles,
more or less, or about twenty-sx and nearly
half constitutional counties Of nine hundred square
miles each-equivalent to about l5,2300OO acres,
have but little doubt that government would pay
FIVE millions for this territory as an Indian reser-
walton, such a reservation would he very desir-
able 10 carry out the phlanthropic views of our
government towards the Indian tribes. 1t is un-
derstood that the white settlements in Arkansas
and some of the other new States are beginning to
press nconvenienty on the Indian reservation in
those States. II is moreover matter OF great i'm
portance to the United states that the Indians in
your own State should be concentrated on some
properly selected territory, for their civilization
and Improvement. No spot, ! have reason to be-
ieve, be better adapted to the purpose than tho
one have indicated believe. moreover, that
negotiation, conducted with zeal and address by
your public creditors, would result in an act of
Congress for the purchase Of this territory.
The government Of the United States, indepen-
IDENTITY of the humane policy by which they have
always been Influenced towards the Indian tribes,
would be impelled by other considerations OF no
little force to make this purchase. II would enable
her. by the concentration Of the Indians now in the
territory of Texas on given spot, to diminish the
number Of her troops in the State at least one half
by which she would save not less it is presumed,
than million Of dollars annually, to say nothing
Of her obtaining equivalent for the payment of
public debt which she is bound to pay, without
compensation indemnity, except, indeed. it i to
be found in the vast revenue which she viii collect
for ages to come your consumption. A boon
she has acquired by that act-annexation-hy which
her liability to pay your debts results.
would respectfully suggest that the cession in
question be made TO the government of the United
States on the following conditions
THAT the cedcd territory should be used e1clu-
svey for an Indian reservations: when this ceases,
its jurisdiction should revert to Texas, the United
State, retaining the public lands belonging to the
same.
2.-That the amount the government of the
United States should agree to pay for the territory
in question should be applied to the discharge Of
the difference between the scaled rate and face value
OF the revenue debt Of the late republic of Texas,
Tor which the government Of the United States is
liable.
S-On the creditors signing the required releases
10 the State Of Texas and the government OF the
United States, fifty per cent Of the above amount
should be paid to the creditors OF Texas IN cash,
and fly per cent reserved in the treasury Of the
United States. to constitute the subscription Of
the creditors Of Texas TO the charter of railroad
from some central point in the interior TO the
waters of the Gulf, by route which shall confer
he largest amount Of benefit the people of Texas
nd largest amount Of profit on the stakeholder
Propositions that nearly identical; the road to
be selected by the stockholders after scientific