The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-02-13


Hon. II. M. t. HtSfrK,
Chairnan cofnmiuee on Finance,
United States Senate
Mr.. HUNTER Mr. President, SO we see that to
meet this debt, which al It's highest estimate is SUooU
0o0 Texas had hundred million acres OF land, ana
al that time last srmmer between eight and nine mil
hons OF dollars IN her treasury and The treasury OF lte
United States together Sir. she AZ that day, and
she IS al tins ne proportion 10 her uauon, per-
haps the richest State this conedeacy, There IS no
State better able TO meet the demands upon IT, the
legal and Just demands upon II, than Texas now,
then, can her creditors say we are morally bound,
II we, by the consequences OF this annexation, nave
contributed 10 such state OF the treasury rs exists
in Texas Can il be said that have diminished her
pecugary and fiscal ability 10 meet her liabilities by ms
ACT OF annexation with the conditions presented MOI az
all We have increased that capacity and ! believe
that we took away from her source OF expenditure
fully equal aye, greater, in The event she had re,
NAMED an independent nation, than her customs would
have met. How is II with us! Our customs together
with the receipts from the lands, hardly maintain this
government IN the discharge OF Just such functions as
the State of Texas relieved from by the annexa-
ton This government is employed ~ managing our
foreign relations, and those between the States. which
would have been an additional source OF expenditure
TO independent Texas. To meet these obligations
we have expended whole revenue and are IN
debt Is likely, them that under the state OF things
which existed before annexation the revenue derived
from customs by Texas would have sustained her
army and navy and foreign diplomatic establishment
hazard nothing in affirming that is probable that
The revenue from customs would have suhced 70 nam
tain her independence and her relation TO foreign nations
Ii, then, way an5Wera0le 10 Creditors
OF Texas for having deprived them OF the means OF col
ecng their debts, not because we took from Texas
the pecuuary and fiscal capacity to pay il, but because
took from her the desire to do SO, and lowered and
injured her moral tone. Will that be maintained! Will
il be said, that although Texas able everybody ad-
mts she is, she will not do it, because OF any injury TO
her moral tone by annexation to the United States !
That sir is The only ground that be maintained 1t
is manifest, If TO be charged with preventing Texas
from paying her creditors. that she is able TO pay now
and il we are accountable at all we are TO be charged
hacnn sha can knf bera he
these debts
With regard TO the mode which she has taken for dis
posing OF these debts what concern IS OF ours have
right to intervene between sovereign State OF ths
conederacy and its credlors and say how shall seue
those debts Are bound by those courIeses due
from one government TO aroher TO abstain IRON such
OF legislation that would be For how could
offer greater insult TO State than thus 10 put II I'M
der a commission OF bankruptcy!
Mr. President are our own hands so clean, according
TO the history given OF our previous financial transactions
by the honorable senator from Maryland. that we can
afford thus to intervene in this summary and high handed
manneri Why, he tells us we scaled our own obligations
after the revolutionary war; because not able TO
pay them. Ii we were not able to pay them 'hen we
have been since There is petition now before the
Committee on Finance, praying us TO pay one OF those
old revolutionary certificates according to It's face And
if going take up this principle OF paying every
debt due, according TO the face OF the obgaon why do
we not 20 back and pay our own revolutionary deols'
scaled in the ratio of hundred 10 one ?-scaed as
well Iecoect, upon the principle of paying only the
specie value of the certificate al the time OF the funding
OF the debt Suppose we were TO apply The same prnc;
pie to the Texas debt, how do we know that II would
any than Texas has agreed TO pay But
government or is Texas the only government that
has done lhis Did not Great Britain herself IN effect,
repudate her debt during her with Napoleon Did
she suspend specie payments by her bank and pay
her creditors in deprecated paper' Wha, Was that but
virtual reputation 10 certain extent! And what nation
that has dealt largely IN paper money has not done II!
Bat al the zane Time that say this, would express
the hope that Texas. which has such ample means will
provide io the payment of all tha, Is Justly due from
i lar kalta hat nit .t.lu tull al
thorlzed 10 speak Tor her. do not know what is due,
nor is II my concern 10 inquire. All know IS, that
there is stipulation, TO which am bound 10 look, that
these Eve millions shall not be paid without the assent OF
Texas and the elease OF the creditors When say with
out the releases OF the creditors, do not 10 be
terstood being opposed to paying those separately who
willing 10 take what Texas tenders and 10 release the
United States from further demands | am bound TO
that not by the law OF nations, or The law of nature but
by special Obligation and will stand to that ;
but beyond the express obligation OF the boundary act
we are not bound TO pay one cent. Especially would
pay in this dscourcous manner towards one OF the
States IN this coniederacy
Sir, let US look little further into this matter and
see TO what IL would lead II this demand is sustain
ed a, all II must be upon the ground that nasmuch as we
have the customs OF Texas and enjoying portion OF
her revenue bound TO pay her creditors, because
The public creditors entitled 10 all before any portion
domestic purposes and that our government IN
It's operation upon Texas, pro tano is Tor domestic pur-
poses, and that therefore bound 10 pay-l say
that II 1t be sustained al all, ii is only upon this
ground for The otner preeDslons are maniiesy without
foundations OF Justice. There such obligation
der the law OF nations and If take this position, how
will 1t bs with our repudiang States and their foreign
debors May not these foreign nations which are
cusomed 10 collect the debts due 10 their citizens the
poiat OF the bayonet come forward with much more
son and say TO u.s. Here the States OF your coned.
erscy that have contracted debts We are in the habit
OF dealing summary with other nations. You inerpose
between and them and say we shall not collect our
debts and only that, but you collect your dues
from them for domestic purposes You collect your
toms IRON them, and yet you do not pay cent.
Now, you must do one OF two things; You are bound
either TO pay you bound TO let us collect our
debts from these States we collect them from other
nations" Would no, that be stronger argument for
the assumption OF any State debt due abroad Than the
argument here urged in relation 10 the Texas debt'
think il would be
think there is but one safe ground on which can
possibly stand and that is, that the persons who deal
with the States OF coniederacy take the risk because
they deal Knowing the relation IN which they stand 10
aud the rest OF the world. And those who dealt
with Texas knew the risks when they dealing with
her, and charged her accordingly. There is no doubt
that they charged Texas for everything furnished her
with profits enough 10 cover the insurance.
Sir, tread here upon dangerous ground let us take
care how commit ourselves TO principles which may
possibly have dangerous application in the future
The principles as laid down by the creditors of Texas
may serve their purposes OF present convenience
but the United States think, in view OF the peculiar
form OF government should hesitate long before they
adopt H. do not believe myself that it is principle
either OF the law Of nature OF OF nations Tor that cannot