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

ment OF The United States was 10 surrender its urs
dclon this territory to the claim made by The state
| OF Texas
Prior 10 that tme certain creditors of the State OF
Texas who had the very face OF the bonds Issued by
that State claim against the revenues OF Iexas, came
here The OF Texas were hypo,hecaied Tor the
payment of their claims and those Creditors came hefe
and by their memorial asked the United States In coDse-
quence OF having annexed Iexas 10 recognise anu pay
their claims was then provided in the bill OF lhe hon.
orabe senator from Maryland, IN order TO release lhe
United States from these claims, that 30 900 900 OF the
indemnify proposed to be paid to Texas Tor asserting 70
such boundary lines were there provided should De
issued TO Texas and that So 100000 should be retained
in the treasury For what purpose were they retained
For the payment of the claims for which the revenues OF
| Texas hypothecaed and for which, incidentally,
in consequence OF the United States were as
the creditors sad bound TO pay That bill passed The
So, 100000 issued to Texas, and 81, 100000 more
remained in the treasury Sir, in my opinion the United
States stand in the character OF trustee OF those $o,-
100000 IN the treasury for The creditors, whose claims
are based the revenues of Texas as well as for the
State OF Texas and that more should be paid than Is
| absolutely due TO the creditors
Why $5, 900 900 fixed the sum TO be retained
! II was upon statement made-whjch statement have
seen-in which this specific portion OF the Texas debts
was said not 10 amount 10 more Than $i5Oo,oOO That
being supposed TO be the fact $4,000 600 were retained IN
the treasury not only for The purpose OF paying these
claims against the State of Texas, but for releasing the
United States from all This hypothetical obligation which
she assumed 10 be under TO pay those claims Now
what she proposition OF the honorable senator from Vr-
gnia' II is to pay 10 the claimants the amount that has
been allowed 10 them by the State of Texas What is
that Certain individuals have gone to Texas, presented
their claims and had allowed, the senator from Mary
land says eighty seven and half cents the dollar
and think OF them more Others have been
scaled down TO- twenty cents on The dollar; the rates
varying from eighty and hall ninety cents TO
twenty cents According TO this amendment OF the SEN
aor from Virginia. the treasury of the United States is
pay those claims according to the scaage OF the State
There are, understand, So 1885,, 900 of these claims
You have rs 900 900 to pay Them WITH Those creditors
who have their scaase at the highest rate will come
| of The limited their
sue OF stock but those who were scaled at twenty or
thirty cents the dollar will not in. They
unwilling to take that amount Therefore the result OF
the amendment of the senator from Virginia will be, that
those who have had their claims scaled al sixty seventy
or eighty cents the dollar will in and take the
$5 000, ,00O and leave nothing for those whose claims
scaled a: thirty, twenty-five, twenty cents. If
the fund should be exhausted in this way. there will be
$3,3 900 OF claims unprovided for
| Mr. HOUSTON. The IS $685. 900 is the sum requisite
to pay all demands according 10 their face, before
the scaage took place; but they are now scaled,
Is impossible for the amount as s scaled 10 exhaust
the fund The intention OF the amendment OF the sena
tor from Virginia merely that those who are willing TO
take their bonds the scaled rates shall have permission TO
do SO, and not be prevented from realizing their rights
by the connmacy OF a few sedous would be creditors
| Mr. CLARKE. understand that and think have
stated sufficiently The proposition made by the honor
able senator from Maryland is 10 issue $s333,000 OF
stock. According TO that, you Can pay every man the
face OF his obligation But you take the proposition OF
the honorable senator from Virginia. to issue the $4,000
900 of stock from the treasury, according to the DISPOSE
ton of the creditors to come in and take, you have
$5 900 with which to pay SS,333,000 OF claims
How you going TO pay II! Toeach individual, A, b,
C, or ID, precisely he chooses TO come in and take
| ii, Who will come in and b Gentlemen with
in my eye will in, who have got their scalage
at eighty seven and half cents on the dollar Per-
haps the of the debt, as scaled by Texas, will
be SO 600 900 SO ,500 000 Under the amendment Of
the senator IRON Virginia. they will have absorbed your
whole $4,000 900, and you will have more money
w hat, then, becomes OF the rest Of the claims'
Mr. RUSK. If the senator will look over the report
OF the auditor and comptroller, he will find that the fund
cannot be exhausted according TO the scaled rates. but
a large amount will be left.
Mr. CLARKE. Well, will allow that to be true ;
and il so, the scaage is lower than thought II was
The from Texas says ha, his State has so scaled
the debt that The five millions cannot be exhausted.
What. then, becomes Of the obligation oil the United
States upon which this grant or this compensation 10
Texas for her surrender OF claim TO certain territory was
predicated That compensation was made upon the
ground that the United States were bound to pay these
debts obligations of Texas for which her revenues
from bypothecaed and Tor which the gov
eminent OF the United States, in consequence OF the
bound in honor and in equity TO be respon
sble Now suppose, Mr. President, that you are a
CREDITOR and allowed twenty per cent upon your OBJ
legations ask you what becomes of the obligation OF
the United States Is il not the duty OF the United
States as much TO pay you as to pay the man whose
debts scaled at eighty and half cents Sir
IL because the of Texas pledged for those
debts, the government of the United States, in
qusnce OF the resolutions OF annexation, was bound TO
pay tbem IT is bound to pay every one to the letter
and full face OF the obligation That is the ground that
| | take.
/ Mr.. MILLER. With the consent OF the senator
from Rhode Island, move that the Senate do now ad
/ journ.
Mr. BUTLER. Lei US have vote
| Mr. MILLER. We cannot vote for some time
Mr.. HUNTER. call for the yeas aud nays upon the
motion
MT MILLER withdraw it.
| Mr. ATCHISON. ! renew it,
| The yeas and nays were not ordered.
| Mr. DODGE, OF Iowa | beg to make an appeal TO
the from Virginia TO Withdraw this cosovered
amendment Let us get through with other less import
ant amendments and have vote IL he peases in the
morning with a full Senate on this. IL is an important
question: involving eight millions OF dollars, and
think we ought TO have il voted upon in full Senate
Let us get through with The ordinary business, and then
we have vote upon the merits OF the proposition
There twenty or thirty more amendments to be
offered
Mr. MASON. As far as courtesy is concerned, would
be very glad il could yield 10 the proposition OF the sen
aior from Iowa.
Mr.. DODGE. am sure of that.
| Mr.. MASON But every knows that we have
the whole night before u.s. and II IL the pleasure
of senators to sit here and debate the question, will
sit with them with great deal OF pleasure but II with
draw the amendment and offer II tomorrow, every
one will say, and say Justly, the bill will be destroyed
no chance OF getting vote. Sir, will not take up the
time of the Senate am willing 10 vote uSbn the prog
oson OF the senator from Maryland at once, without
debate as am willing to vote upon mine
The PRES DING OFFICER. The question is on the
motion TO adjourn,
Mr. BoRLAND called for the yeas and nays on the
moon, and they were ordered and being iaken result
ed-yeas 30. nays 2s-as foliowsi
YEAS-Mes.r.. Atchi.on Bell, Bright Chase, Clarke,
Davis, Dawson Downs, Fish, FITZPATRICK, Jones OF Ten
nessee Mallory Miller, Norris, Pe, Phelps Pratt, Sew
ard. Sumner, and Underwood-D :
4 Ha.lH w.