New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-03-03

ui.ttee i defended ] proceed to consider the objec
tons raised against z The honorable Senator from
Y-.is, Mr Hunter. says thef we are under no o5ig-
lions 70 rsy these c-e because n ne act o. annex
amen Texas rrreed that sb0Id not b. liable sDt
tat she wOud psy them aud thu, the credtors hal
notice Of that sTrexaton Of those terms aH3 dill not
protest. asd therefore implicitly consented But ths
hCuCrtle Stns,or understood 20 waive his point
OF impEed, consent ~ the creditors.
take the objection, however, IN either form. and say
il reply:
FBsi: That all the world knows that protest b. the
creditors sgsinsr the Of annexation would hsve been
net more imp rrinert than unsvsiling.
Secondly: Thai : may well Dc supposed thai the crei
tors concerned nav, n lsi5. have tOreseen utt ~
though the United ates then refused, YET In IeoO se
would assume the dehts Of rexsa 70 the amount sup
POSED 70 received by the revenues OF Texas dveried
into the Federal Treasury
The Senator from Virginia ob,ts secondly, that the
sovereignty OF Texas not, by the sct OF anneAou
unerret IN TIE United States but that sls st remains
sovereign S;s.e and in the enjoyment OF adequate Aad
sr1r'e -eeources w. her public domain and capiclty
for direct taxation, 20 pay the ereoltors.
reply. FRS, That while the public domsiu OF Texas
IKE cur own. and her capacity COR direct taxation,
IKE cur own arc valuable resources for credit sa1 70
sCrre extent for expense Of current ADMINISTRATOR
they are practically unaTsiling for the payment OF
large funded debt The rtources OF Texas Tor tASi
ru-rcfs were : cir cysoue which we have divertai
and 80 snuexstOn insteai OF increasing, ~ impaired
the practical sb.lity Of Texas 10 pay her deots.
Stcordy This objection iorcclosed By the Compro-
mise OF 1850.
nan rrorosed departure from the theory OF anneNa
tcu which theory was that Texas should pay her own
debt And the senator insists that the Compromise Of
0 adhered 70 thet supposed theory OF the Act OF An
nexsicn because II directed the hve millions 20 De pLd
not TO the creditors, but 70 Texas herself
reply that the imagined adherence in the Compro-
mise OF lsO 10 the theory Of annexation i N form only
ard not in fact because the 100000 are TO be paid TO
Texas when abe prOcure- release nom her cretfors,
l. 80 ~~-sn arsnIn
so the stipulation exactly the same thing as would
have been stipulation for paying the s0OOOOSO or 80
much should be due directly % tle creditors Inc de-
psrture from the supposed theory, ,hcn was made in
1850 and Is 10, 20 be made In lS53 We must keep on
In the course of $50 tiIl We reach the goal.
The honorable Senstor obecIs further that this plan
Of The Committee 70 pay SIX. 3 AZ per cent, being
less than tie usual OF interest on public STOCKS =
scaling of the debts 90 thf creditors VII not get dol
lar for collar and j. therefore Objectionable on the same
ground that Texas Is complaining o. Grant this - be
true still reply that We scale les deeply than Texas
Secondly. that we are meiating between the proper
parties aud thirdly who can complaint Not Texas,
for take nothing from Der. ard DO not divert any
fund IN which she has claim. Not the creditors, for
they assent
The Honorable Senator further objects that Texas
Will nevertheless come back tor - 100000, ami viii
be entitled "a H. reply that Texas mas already decr
ed by sct - Jan a. l-2 that ~ 30 300 - OF tns
same 100000 Is Justly due TO these creditors, and
shall Re paid them. 40 the very worst, Texas VIII
not GENE back tor that Texas will come back for
The remsuirg sl64i6je - She must produce ~
esfcs ON the creditors for IL They vii have already
released upon Just consideration paid, no, by Texas
lut ~ the United States and after Texas hsd had ample
time 10 al siu releases and had failed, because she eN
acted what the creditors we're neither legally nor equt.
ably boUr1 o. yield
8 3c3 - ~ per cent VIII cost 1le Treasury more
than the 5000 coo o: per cent Il will COST not eX
acily S1ll.-Ei more. But that = 90 good objection,
it, tst It Is necesssry 10 pay that 'un "a discharge these
.H.Et. 4 30 = of n
have been demonstrated.
The Senator 81 lay falls back hN original ground
hat the United states Notable Or The debt 0i IeNt
according to tie law II uature or Of nations. tsqute
too late he question after the ac Of annexation
O. lsij End the CoWprCnisr o. 1850.
Ncyc-tLtess will briefly consider the senator's ar
gumerL
The United states derived advantages from the
ncxlhon OF Texas, and creditors had aided Texas 10
lice 10 tie condition in which her union was thus nd
ytuiageous. They did nor give her dOwry, but they
enabled her - assUnc her own. The union Of Texas
with the United states and Of her dyis
ion OF her 0streuty rendering her less fully ami eN
ciusyey approGcubhle by creditors. Wa there not IN
these circumstances sufficient consideration 20 sustain
tie agreements between Texas and the United states
iortle benefit of e. cic,il'O
ByukersLOck teach us 50. Read p. III.
Again, Texas by annexation became subject TO The
d,hfs Ci tie United states How Is Il tieu that ths
United Ade- could acquire Texas wihOu'cOming under
neral obligation 10 guararteethe debts OF Texas
he senator rom Texas, Mr. HoUsToN, which seems to
resuit ia THE Thai Texas has right 10 ascertain aud
IN he amount Of her liabilities anu she has fixed at
SJ5536O % and the United states and the creditors
are concluded By that decision.
reply, that not the agreement in tho compro-
mise. t that tie creditors should release their
claims lf they viii release for the s,3jj $50 2j it il
rough But they have not released for that sum- and
they viii NOT.
Then The Senator insists that Texas Il ust and they
Unreasonable. | do NOT think The principle a.
sumed by Texas Il that she her creditors not
what she agreed pay, but the value OF what she
ceved from them 1t needs only that this proposition
should be stated secure it, rejection IL can be
putin the OF Texas in regard 10 these debts
than in any other OF public and even private in
debtednefs.
The argument il attempted however, 10 be sustained
by precedents. ! reply, It sound II needs aid from
procedents. Ii unsound, then precedens can make
Il sound.
There il only ground on which Government
can Justly scale It's debs thst the ground of absolute
inability or bankruptcy and then there must be dsyo
ton Of all their wealth. Neither Texas the United
States can adopt that ground Each of the parties
prosperous each Is rich and they neither refuse
the condition 70 nterpose the plea Of inso
Vency.