The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-08-27
From Inc New York Herald Of ths 9em inst
Our wAsnington Correspondence @
WAsmRGros, August %, 1884,
T1as Ds6i-WhIl s0ll Congress dor

Quar- washington orrespoaasncs. .@
.. WAsmEGros, August %, 1854
IsIas Ds6t-WkIt t0aI Congress dor
The recent report Of the Committee OF the Senate on
Finance, and the accompanying bill for the payment OF
me creditors OF Texas OF the class therein described
have al length brought this matter before Congress in
tangible shape and enabled both the friends aud the enc
mics oil The measure TO their respective forces for
The approaching struggle The unfortunate dssensons
among the creditors themselves wore Threatening az
pee short time ago; but these now happily healed
and all parties satisfied with the course OF the Finance
Committee. The great principle on which the whole sub.
iect depends is plain and clearly defined in the law OF
nations, and in that high code of equity which should
guide and regulate the action OF all civilized nations and
tits this-that whenever Independent gouernmen has
contracted debts the faith of Us and resources
and IS gfioads voluntarily united Oih and absorbed By
another government 10 which Us national and
sources, thus pledged. need the latter
becomes bound BY the most sacred ofaH obligations 10 dis
charge those debts
These governments may undoubtedly, in their act OF
union or annexation, make such spulaons the sub
ect as they see ut between themselves but TO this their
creditors are not paes and OF not bound by
the provisions Of any such act treaty to which they
have not yielded their assent The creditors look only
to the revenues pledged for their security in whose hands
soever they TO be found and il is because these rev.
enues are now in the hands OF the federal
that she is held TO be responsible for the payment of these
debts II is true the government OF the United States
in the act OF annexation, bound Texas apply The pro-
ceeds OF her vacant lands TO the discharge of these debts
but in the act OF the 9th of September 1885, she chose
TO release Texas from this obligation acquired the title
to large portion of these very lands for her own use
and thereby assumed all the liability Of that State to its
creditors, every principle OF national integrity and
honor. The power and the duty of settling with the
creditors of Texas belong 10 that State no longer has
w fhaga furf th.n IL
Quilted and discharged from any responsibility 10 pay
them.
The act Of the Texas legislature usually denomnated the
scang ac is papabe violation of that provision of the
federal constitution, which prohibits States from passing
laws mpang the obligation OF contracts and is there
fore to be regarded by Congress as would be by the Su
preme Cour-as nullty 1t is not 10 be supposed for
moment that the legislature OF Texas, which will not
meet again for about eighteen months will seek to inter-
NEEDLE further in this business Having surrendered
this whole affair OF adjusting the claims OF her creditors
to the federal government Texas has stipulated only for
her own releases and if this be secured she has no more
to do with the subject There is little doubt that
large majority of the people of that State are in favor OF an
honest payment OF the public debt contracted in the main
tenance of their independence and freedom few small
politicians may so far mscaculae the state of public
feeling as to hope to make political capital out of
an attempt to repudiae but they find no favor at home
and are held nearly cheapy there they are abroad
presume the members OF both houses from that State will
take little, if any, part in the disposition of this matter
while it is before Congress, for the have al
ready stated Their position is delicate one but it is
impossible TO suppose they will seek repudiate their
own debt when the government OF the United States
offers 10 pay it. They will, doubtless rather assist in
raising the character of Texas and proving that she de-
sires 10 be both faithful and honest.
The plan contemplated in the bill OF the committee TO
pay these debts is judicous and economical and will in
act he NVho wit tha Eya of
dollars, now in the treasury. applicable to that object,
This bill rises into the highest importance when we reflect
that the final action of Congress on the subject will
stamp national character with glory or shame for all
future time. What mark shall be fixed upon u.s. is for
Congress TO determine.
have no interest in the matter beyond what affects
every citizen who desires the honor of his country
neither agent a creditor OF Texas but the SUBJ
jec being brought forward for public attention by
the action Of the committee, trus, the course recon.
mended will be speedily acted upon, to end the
question. b.