Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-10-22
The cOupatt With Ttxts.
0Fcia! Opinion Of As Aiiorncy Oeasral Of Ns Jaiioi
SidfeS.
ArroENIY GrNKRAL's OrrIcv,

compact between the United States and the State of Tex
a. the subject of the payments be made the Lat
ter by the iOimcr Of two 81 live millions of stock
each, Ia consideration O asrcc change Of the bound
1T the said STATE presented 10y yous letter Ot the 1h
Of April last have been held under GlvSement until the
present time, partly in compliance with the wish OF III
parties ia interest DESTROYS tn bc heard thereon, and
partly Tor other considerations.
The SulJectmattcr is grave one, affecting the
rights of OF the States OF the Union, and involving
the good faith OF the United in the execution 81
solemn compact with that State
The measure Of responsibility Is scuSbly increased
by the fact that the late Secretary OF the Treasury Mr.
Corwin expressed opinions the subject which
adopted 10y the late President of the United States Mr.
Fillmore" ard that It becomes my duty to review those
opiuious m which circumstances /; j. some rcicf find
that, although their conclusions IN accordance with
thos" OF gentleman OF the highest professional emf
neuce and authority IMr Eevtriv johnson. Vet they
have the al iSiout weight Of Official opinion from
the Attorney General Tor the time being Mr.. Cut,en-
/ den
It's Indeed objected in enc OF the arguments submit
ted TO that the decision o. the lac" Executive j. be
held final IN the 10 understand il; how.
ever. rue distinction between ti"lSatS aui ACES be
tween things oNecuury and things executed is obvious
matter executed by administration cauUot bc un-
done by a succeeding administration Bat an opinion ,N
pressed upon a matter CNccgo-y may DC reviewed, AMI
reversed modified ANY uwe before execution. The
late Executive III 10 the inquiry OF certain crcl
tons, expressed opaou, merely conferred vested
right II bad conclusive binding force. lS the former
ADMINISTRATION in the opinion expressed by ;; respectful.
the nearing of the compact, had time for consideration
locus tDr1t,i, Also tie pgcscls administration has
the right review this uurNccu;cj o,uio and the Pow
cr aud the duty, debcre the proper colrs, t5pu
sue until the reserved i've millions OF stock hereafter
described shalt be actually delN cred c constituted ai.
| thorities OF the SAFE Of Texas.
rs proposing the State OF Tcvl, an alteration
of her boundary, upon the terms therein oued ap
proved StE September, 1880 TX stat a. LARGE pp
az, chap 80. aud tac proytutttuu OF December L.
1850 announcing that the of Texas had accented
and fed those terms, ibid. Appendix, No lul the
United SysJe> consideration Of the Ce>sou to them by
Texas OF the ,ui, by, aud OF the Accomplishments male
10y Texas. mentioned IN articles FIRST second, ami ihi,
stipulated, 10y ar'cc fourth TO pay ,he State OF r>ss
"hc vi zen u;OlS 81 dollars, "a stock bearing 1--WE
per cent interest and rciccmshc the end ui fourteen
yrs the interest payable hall yearly the treasury ne
United States.
Path Immediately after the Pfesilen: OF ;he United
States shall have been furnished with authentic copy q.
the OF the general assembly of Texas, accepting Gese
propositions, he shall cause the stock be issued ia favor
tne safe OF Texas a. provided IL fourth article OF this
| agreement.
provided also, That no more than tive millions OF
said stock shall bc issued until the creditors OF the state
holding bnni and other certificates OF stock of Texas
for which duties Imports specially pledged shall
first die the Treasury ot the United
all claim against the ued States Tor account Of Sail
bonds OF ceI"satt n such form a shat! b. prescribed
by the Secretary OF the Treasury ant approved uy rc
President OF the United States
Upon this OF Congress principal questions arise
namely Fr.t-Whai are in fact, tAe Obligation, oltuc
State OF >4, tor which releases lie bsi IN the
Treasury OF the United states before the delivery Tex
OF the second parcel Ui i've millions soca: and sec
oniy, whether the stock must be delivered altogether
after the execution Of a.! the releases required anu not
before whether IL may be Issued ia parts on the hin
/ OF particular releases
Before attempting these principal questions
it will be convenient auay the severa pertinent acts
OF the State OF TcNsS, both legislative and executive.
The public debt OF Texas, exist NJ the passage Of
the act Of Congress Of 9TH September 1850 and
cepnce of the thereof by the State Of Texas by
Of her Legislature approved 25h November OF the
year o! following acts OF the lcgi,l..
ture OF the State viz
l. An act to authorize the President to negotiate
loan, on the bonds Of the government Lot exceed
g ILL.
! lsaG.
BY section loth for the punc;ua payment Of interest
not exceeding ten per cent per year, aud final redemp
ton Of the PRINCIPAL the public faith lis socuily pleig-
Ell, and also all on hnis which may accrue 10
dis government aler the year l,aS, hereby
and appropriated
Ia thu, duties on imports" are not specially
pledged The republic Of Texas had no: then imposed
duties imports
=. An a.; To authorize the consolidation and funding.
OF tire public debt Approved nh June lsa1. Tn, a,t
authorized the I4blc creditors ut the republic OF Tex,
to fund ticr demands los taking Certificate OF -;o,,
bearing interest ~ the rate %! tcu per per auuuu
payable seu-.Uuua.ly the stock = be divided into
shares % one hYI, Gor- each, rrIrpiu4b.e 10 the L-
erection ui the cyyyrurAt. after nr-t cav OF Saptel.
Der, l,i2 tp t- ampuut OF r,c millions D doIr OF 50
mlc1 thereof a. necessary 10 sHl-y the liabilities tile
/ republic.
Sec .. The public filth is hereby pi-Isel for the re-
demrtJu o. said stock r-eIuy 10 tie foregoing proy!
so'' aud 30 much 81 tr public sr.-lug from i'm
post and diec' nation, a. may BE nrceary t'
annual Interest 81 the funded deb. hereby apuropril
AMI -ct apart for that special purpose.
sc Al I1s' demands asaus; the government 20
be received 50 par so certificates proviici the zane
S-l.. amount TO even shire II n"', the creditor may
make up the tte.eucy I cIh, having ai-cogu, on the
| SO. az Tue M. ci Ten per cont
~ this at tie "tl;ie- imports" were specially
o. -'s next Va, '' aei aN.h'znS tHe iS'Hing O. pro-
M l'. W. .'. s','f .,'''' lFp'9ysl .'h slne
- i"- 'sl authorized Tie '-,ue oi notes payable tt
,ss o. i'. .s l'' g"s dollar e--A' Aor greater
/ - ..
.s.r ., .. ''' VA. "s pr ~ l's. iat.4'is
49,. .s.. ~. -, ---- S.''-' '' 1-1''e- Tor 40
''.' Dr''- "a .'I-.@ TO- i'' .'',T'"sHl
r . - - ls ''-'-e". g '1e I'pA'Ac 20
,S 49, - -.'. -. - '' '-i up az I', ..'-
. - :! .. ~ go que ii,'.-''- 90 "mcH sud- DE
-. ' ..'. '''' treasury. I'd '. i'' on. only i'f re-
/ -'.''
,,.{..j a. ., . , ''l.o. .'.'-' mus are hereby
pe4-'i Tot i"' redemption ul tI p-oui--o-g notes %!
s ,...' .'1 7. '''..,'l' ''' i-,h ana credit OF
,, -, .-" =, .,'-'1! Ps-=sl. Anu
80 49, 60 ..' i-','''/ii zoe &c Issue