Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-10-22
lenee Of indebtedness. existing as.u.t the republic of

and must be released before the delivery OF the
five millions to Texas.
The Indebtedness bc released must be OF bonds or
certificates oi stock. conclude, therefore
l. The issues under the Of June 7ih 1887, e-tima
ted a. outstanding en- the LIST july 1880 principal aud
interest, 81 ,6Sl $50.
Outstanding issues. as above under the acts OF No
vcmber Is, 1856, May 10, lSSS, January 80 1889. and
January II, lSiO-S2, tSs, 9O2.
= Outstanding issues OF certificates of stock of ten per
cent consolidated fund.- by the OF February 9th, 1910
s., 63S,9S6.
J. Outstanding issues OF eight per cent bonds under
the act OF February 9Th, lSiU-Sl,i72,eOS.
These PARTICULAR sums in all, ST,33G, $50
the LIST OF july 1880 to which to be added the interest
which may have sacs accrued; the said amount having,
however, been reduced 81 59S I95 according to the
sccie adopted toy the State OF Texas.
exclude al the indebtedness Of Texas described in
the report o tbs auljtor audited frauds aud also
the new issues under the Of March 2Oth lSIS the
nature Of which does not appear, but which be
Recognised 10y all parties not being Of bond' cerG
Gates OF stock within tue puryew OF the act OF Congress
feel constrained, also, already intimated, exclude
the protnsSoy notes. mostly without interest issued
lee the act OF Juuc Ysh 1887 in all the form and smi-
ude OF commou bank hull. am unable to reg ard this
paper as either boEls certi6tatrs Of stock.
lt i OF no avail to say that these pronissory
on the acc o. them, and by law male receivable for a
government dues and lea upon customs duties.
The is tina; the act OF Congress requires two
conditions, OF which Is security 10y pledge duties on
IMPORTS but the other is that the thing secured shall be
= Oond or certificate OF stock.
Nor does it avail to say that these promiSSory notes
being receivable for government dues in republic
Texas, ought 20 bc redeemed by the United States who
have absorbed portion o; the OF Texas wit
duties imported merchandise. Ii sces that
may may not be the obligation Of the United States in
the premises thee notes not II fact provided for by
tails act of Congress.
According 10 the terms agreed between the United
States and the republic OF Texas whereby that rrpub
became OF the United States OF America the vacant
and uuupproptiacd lands within it, limits wyrc to he re-
tanned by her aud applied TO the payment OF the deb:
and liabilities OF said republic Texas; aud the sduc
Of said lands, after dchSrsins said debts and liabilities
be disposed of said State NAV direct: but in no
event are said debts ani liabilities to become a charge
upon the government OF the United States" oint rcSo
lutous March -. isis, v Stat AZ Large 1851 The
citizens of Texas bound by that political act OF their
government. The provision made for OF the debts
o. Texas, 10y the at modifying Tier boundary i, in fact
thc execution Tar forth OF the condition the compac
Of the entry Ct Texas the Union. The United States
tn taking from EcNi 10y the act OF 1880 ccSSiJu OF
large quantity OF her vacant and ppGOpriaed lands
AMI in paying her therefor chose spulatc that por-
ton OF the purchase money should be applied the
payment OF the debts and liabilities Of sail republic OF
IcAas.' 1t by mean, follows that the UaIed States
have assumed any liability thereby, or implicitly recog-
uHei the cNsteuce OF ATTY liability their part; that
any les of readiness VIZ be shown by the proud aud
wealthy oil Texas, fulfil the engagement in regard
to her debts contained IN the compact OF her admsso
into the Uuion.
To what extent AMI when the United States will in Jus
ice aud equity be liable, ever, TO the creditors OF the
Republic vi TexS because OF lieu held by them upon
the revenue OF that republic to arise irJu duties u
ports aud the transfer, by the of annexation the
ney 10y dueS on customs, Imports, aud tonnage, is
question which thu Executive OF the United States can de-
eide. That question belongs properly the Congress of
the United Safes which has Yet assumed to pay
the debts OF Texas.
That question, if there he any of the liability of the
United States IN the premises goes deeper indeed than
the mere Tact of revenue FROM expressly spe
eay pledged for AL the revenues Of Texas, where
as n the OF outstanding and unq Idaed accounts
Tor supplies aud services expressly pledged Vet
implicitly engaged for the payment OF all debts the
Keel tHts 4nt.n-- IAN nf IaNaz IN f.a
American Union relieved her Of the burdens and
qnent EXPENSE military and civil Of separate nuonaity
skill deprived her Of certain revenues which became
revocAbly vested IN the United States
public creditor, like private creditor, has gene raj
right To receive payment Of the property, income,
means OF hs debtor. special pledge OF thus that
So1ct OF revenue Ut this that direct tax, indirect
tax, when made by government, renders such scuurce
OF revengc like mortgage deed Of given by
private individual TO las creditor specific lien, fixed
ncumbrancc, which the government ought not Justice
10 the creditor, abolish lessen ALLEVIATE .util the
debt has been satisfied. But public creditor like PR.
Vas one oven to debts Tot secured by bypOthecaon
o. specific property other expires lien, ought
pr'c himself OF The iHelns OF piymeit Is the two gov
erIn snt that Of TrNu- aud OF the United Shtc- album
diuily Indicated well ~ tile compact Of auncAiOu
by that for tue change OF boundaries.
waive therefore, irrelevant the present object
all inquiry To what Congress ought DO in the prem
sr-, iu consequence OF the absorption, by the United
States, OF the revenues from duties OF imPosts and
mage which might have accrued to the republic of Tex
a. she had not consented To become of the United
States Of America.
Secondly then, the other great branch of inqui-
~, whether the United States can deliver up to
Texas part Of the reserved stock on receiving releases
OF correspondent part Of the debt Of the republic.
M Cor"n thought not and his opinion was concurred
IN by the late Executive OF this INTERPRETATION of thu,
compact Of the creditors Of Texas COMPLAIN and
also the authorities OF Texas for II that be the true e1
position Of the compact iussmuc a. some of the credit
OF TeNa. whose claims are reduced by the scale of
dYrcciton adopted by tue Legislature Of that State. re
fuse abs utey give releases then Texas cannot receive
the remaining five million, Of stock without some further
compac between her and tue ui,e States Or some other
legislation boy Congress.
Nevertheless, IN tis part Of the case cauuot on ma.
H'e F,reion bring myself 20 conclusion different from
"' % the Iate Overwhelmingly, that the reserved
o'' must be delivered " bD~ after all the requisite
ease shall have been hei n the treasury Of the United
sue
IH'- particular Question h1' been argued u the contra
y sense WIN great AFFINITY, by counsel " dcscrvedly high
e'1H''loil lhT. FRANCIS H. tItunsl which fact requires
ne 20 s,e' IN Irei some OF the ouuideratnos wiich
'".y 'DnleHce my MUD 70 the conclusions above init
'u.-td'
in' "oINs OF Tue CONDITION, g. 70 the Withholding the