The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-03-24


section OF that act directed The auditor and comptroller OF
accounts TO make statement and classification OF the
deols ana TO state what in their opinion was the amount
received by The republic upon each class oil debts and
Tins scaling which the auditor and comptroller thus
called upon TO make subject To the revision and al
hrmaton OF The Legislature OF Texas. The Legislature
never passed any scaling until 1882 The date OF the
act is January 81 1884, by which she scaled the debts
they are g., There sTso was no no other scaling act.
MI. BRADBURY. Then. the scaling took place since
The passage OF the boundary act 7
Mr.. PEARCE Yes, sir.
Mr.. RUSK 1t was in ls4s.
Mr. CLARKE. have said that there was a misrep-
Iesentaon and misunderstanding, to say the least OF it,
mol OF nine or by any friend OF the State oil Texas but
misrepresentation here OF the amount OF the debt for
which The customs revenues OF Texas were hypothe'
Gated and Tor which the OF the United States
were incidentally and alphabetically bound. An estimate
was made OF these debts the tme and il under
Stood that they did not exceed four and half millions OF
dollars.
By the provision OF the boundary act acceded by the
senators IRON Texas and supposed TO be satisfactory to
every one, $4,000 900 were 10 remain in the treasury OF
The United States Tor the benefit OF these creditors Now
what was the honest expectation regard that
action II was that when The hrs $5 900 900 of the
900 900 granted issued TO the State of Texas
they themselves would take up those claims for which
their revenues were hypothecaed and for which the
United States had, in measure, incidentally ac-
knowledged themselves TO be bound and file releases
for them in the treasury of the United Staes and then
receive their second issue of five millions OF stock but
what the resnll The result was that the State OF
Texas after having called in her debts and having found
out that the whole OF the debts for which her customs
revenues bypoihecaled and for which the credit OF
the United States seemed 10 be bound amounted 10 about
&s.33a,ooo Instead OF appropriang $5.ooooo which
issued according TO the act OF $780, to the State OF
Texas TO redeem these obligations, that State appropia
ted the IS 100000 TO her use she had right
do. complain not OF that, But then she introduced
this system OF scaage upon the claims for which the
enues from customs were hypothecaed and according to
the statements made BY the honorable senator from Mary
land. the scalage was not perfected until 1852 Then,
what was the condition OF things!
III adopt the oil the honorable senator
from Virginia. you pay these debts according to the
scalage OF the State OF Texas Those who satisfied
with the scaage, or who have got the largest amount
will come in and take their portion. To that OPP
posed II you do not do that, what will you do? The
next proposition is from the honorable senator from
Maryland to increase your obligations TO the amount
o SIS 1888 900 There about this proposition specous
which beg honorable senators TO look at 1t is
said that il you issue $ 1888 900 OF stock, bearing in
that will amount to precisely the thing II would
al five per cent upon 5OOOOO0 OF stock but must be
remembered that you have the principal to pay at some
time and whenever you pay the principal you pay 49,,
$780, 900 more than you bound 10 pay by the act OF
1850. That is the whole story.
The honorable senator from Indiana has suggested an
amendment and it has been understanding
with me- had no understanding about it,
Mr.. Blu do not know that there was an un-
dersandng, but you spoke OF his amendment though
you knew something about It.
Mr. CLARKE. was compiimented by the honorable
senator IRON South Carolina even saying that had an
understanding abou, il, but tits such thing The sem
ment which he thought would meet the 1t is pre-
csely the thing that have proposed for the last year 10
all persons who have ntrea'ed in regard TO these debts
OF Texas | have told gentlemen out OF doors and in
DOORS that that the only proposition which the gov
ernmen of the United States could be expected TO offer
Outside influence is talked of. Sir, there has been
much OF brought TO bear upon me by friends and their
solicitations any one, but would never yield TO
il. have always told them, here are ,OO9 with
interest," in the treasury of the United States, which is
trust fund for the creditors and have told them prop
"A af he "a
tor from Indiana and II was this We have now got In
the treasury sixteen or seventeen millions and when
these creditors approached me-and small as my own
State is, there some persons there who have got
these bonds, and took them in good faith IN shape
bearing resemblance 10 bank bills but in little
the revenues OF Texas were hypohecaed for their pay
ment-l have said TO them your best expectation and
hope get the Congress OF the United States TO apply
these So 100000 with interest 10 the payment oil your
debts pro rata satisfied with the amendment OF the
honorable senator from Indiana, and hope it will be
adopted.
Mr. BUTLER. | want TO make an apology TO my
friend from Rhode Island, for he says he did not under
stand the amendment before. supposed from the man
ner in which II done that he knew what the amend
ment Of the honorable senator from Indiana was
Mr. CLARKE. knew 1t when heard II read,
Mr. BUTLER. Did you not know IT before
Mr. CLARKE | never saw it or heard II before.
Mr. BUTLER. | though, that perhaps you had some
under standing about II, because you said you would
give way to let the senator from Indiana offer his amend.
ment.
Mr. CLARKE The senator from Indiana asked me
to yield TO allow him 10 submit it, and did so, and
would have extended the courtesy TO the honorable
senator from South Carolina
Mr. BUTLER, ! have doubt OF it.
Mr.. BRIGHT. | would state that did ask the hon.
orable senator from Rhode Island permit to offer it
Mr. CLARKE | never saw ii or heard il throughout
until il read but while the vote being taken the
time the motion 10 adjourn the honorable senator
from Indiana suggested 10 me that he bad such amend
Rent, and asked me TO give way,
Mr.. BUTLER. must do justice to myself in any mat
ter which is personal The honorable senator from Rhode
Island stated that the honorable from Indiana had
amendment which might perhaps settle the question
do not say that he knew what II was, but presumed
IRON that that he had great confidence at least, IN what
the senator from Indiana said.
Mr.. CLARKE. [ say precisey-I beg the senator
from South Carolina TO understand me, for he and are
not misunderstood each oiherthat when the question
was being taken The adjournment, the senator from
Indiana suggested TO me he had such amendment and
stated in brief terms what IL and told him II was
precisely according TO my own ideas.
Mr.. BRIGHT. That is so.
Mr. CLARKE. Then the honorable senator asked me
TO give way and allow him to introduce IT. told him u
he would allow me 10 90 on with my remarks would
to point where It might be introduced There il
the whole sorythe sum and substance OF II, without
prevaricaton, coloring, or dissmulaon, in any man
ner
Now, sir the proposition OF the senator from Indiana
as understand II, amounts to this Five million and a
half little than that remain in the treasury OF the
United States trust fund for the benefit OF the credi
OF Texas that specific class OF creditors for whose
claim the revenues from customs were hypothecaied
Those claims their face amount TO $S,333,0O and
there are about S55oo0 TO pay them Let the creditors
come IN and take rata according TO The lace OF ber
obligation. Let them all come in and fare alike. Let the
creditors come and take their sixty five per
cent ahd release the treasury OF the United States MY
idea, however, s that the government ot the united
States ought not TO issue it's bonds You have now got In
the treasury fifteen or sixteen millions of dollars, and in
of fhaae n a