The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1853-04-02
TEX A $ D r 3 r

II ON rHg
y TEX AS d T. q r.
On the bill to provide for the payment Of
such creditors Of the late Republic Of
Texas 40 are comprehsndsd in the act oil
Congress Of September 0, 1850.
Mr. Housros said:
Mr.. PR.MpENr: | am very reluctant to
occupy a moment Of the precious time Of
the Senate. and particularly when other
matters wh,sh ara, In the estimation oS hon.
erxbIs gentleman. Of so much urgency. arc
pressed upon the attention Of the body.
hut the bill before tho Senate seems 10 in.
plicate the character OF the State of which
am in pact the representative on :his floor,
and demands Of her Senators At least an
explanation. II they are incapable Of wins
dicating her reputation; II she cannot be
justified in the course which she has adopt
cd, no excuse will 10 rendered for Il. and
10 determine upon the merits OF hs- claims
TO consideration and to the due regard Of
her sisters Stssss. It 10 proper that we should
advert to the circpmstsnces under which
those dsb,s originated, and under which
they are held by the pvescat claimants
Texas. when she rose from her rsvolu.
ary struggle, did not owe much mare than
%. 900, 900; aud more coucofred In the
opinion that she owed hut million and 4
hall thsn that her debt exceeded two mill.
ions. This constituted the amount Of her
entire liabilities At that tins, and up to the
year 1888 From the period OF the com
mencemsnt Of hs- separate Government. Ia
the fall Of 1896, down 10 the winter Of
1898. her entire debt d,d-not exceed ~.
sou. 900, embracing oil her liabilities; Ind
hsr entire currency in circulation WAS lrss
than half million. Ii was from 1888 up
to the end Of Isil. that the debt aceumu'
lated from two aud . millions to the snor>
nous sum Of twelve millions OF do'iars
! This WA not. ~ gentlemen .%em to under
stand il IN most instances. debt created
by tho sale ot bonds, pl-dsing the faith OF
J.sas Tor their redemption; Tor little more
than one million Of bonds are oil that are
outstanding against Tssas The Other
dsbts have resulted from her currency. The
impression has gone abroad that Texas
vas placed on footing with other SsAt@s
hdisnni. iliinois Psnnsyivania, Mississippi
and Others, VITO sold their bonds At de-
preeiation, and that. therefore. the qaestior
weu'a No, arise ~ssthsr 80 fersi's' The
hill vaiae OF sh0ss ba.fa Hr or bAi us'
$40 p2s bound l0 pay Iaeai &. ibr'f fsss
tl.at s.e 4s. received the '10st int' ooelt
.,e u..A..sA 10. ..ea.. aaa A"At the vssk JUS
tilted the depreciation Of price al which
they were purchased.
/ know that these are the impsessiona
which have gone abroad throughout TN
community: and II Vexas. when her ersdi
was low and depressed. lad been conpe!lss
to raisa means for thu support Of her Or
mics and for the expenses Of her civIl list
aud had far that purpose cold bonds calling
on their face for . hundred ceots 10 the dol
lar, and had only received fifty cents. chi
would yet have been bound 10 good faith
to redeem them according to the letter .
the liability. and wosld have had no sseus'
Tor shrinking from, panctually meeting hs'
Obligations bst inability 10 pay her debts
But when We lcok into the nstnrs Of th'
liabilities Of Tsxas. We end that. with TIL
exception Of about ons million 81 dci'srs
thsv are Of 4 VERY different character from
vAst has been generally supposed. iess'
issusd psosnissosy nctsa Up 10 isssss
lAsse paced currently Al par A chang
in The administration Of the Govsrnmsu
thea took place, and the first act Of the nv,
Adm;p;s,ioa was u raise new regiment
for the purpose Of defending tAs fron'isn
A. !, vac said, and then. aiihough the Pr
-. ~..a ala nsAd IN aha Fee nfive "a