The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-03-21

The Buffalo Commercial Advertiser OF the 18th inst.
says-"t probable the canals will not be opened be-
fore the first Of May the great quantity of frost
manning in the ground in consequence of the very little
that fell during the past season. renders imprac
ticabe open them before that date 1t is claimed that
there frost in the ground at the present time
than there has been at the for tlfc last
twenty years"
We understand that the creditors of Texas meet
this week at Washington witha view to consult together
the prospects Of their claims 1t viii be sabcred
that when Texas rcinquished hen rights New Mexico
in consideration of the payment of ten millions of dol
lars by the United States Congress retained half that
amountor 600 000 in the United States treasury as
security 10 the United States athe Texan creditors
whose favor the customs duties of the republic
pledged should be paid in Gull Thi step Of
natural precauton y anneing Texas and appropria
ing her customs revenue the United States had made
themselves tacy liable TO such creditors of hers had
mortgagesson that 1t then supposed that
between the five million of United States five per oants
actually paid to Texas, and the Eve million retained by
the United&ates treasury, the late republic wouH be
enabled to JAY every dollar she owed. Whether she
would has been Thoroughly ascertained; for
Texas got the money than she resolved not to
pay and has paid the Arst cent to ANY
Having seaasd her debt In inslances to fftywo
cents in others to cents she dollar and
thus publicly announced her intention OF deraudng her
creditors Of enealf their claims She has
living in wealth and plenty ana laughs at her unfortu
mate dupes Fam the report of her State Treasurer,
presented to ergslature at fts last scssan we learn
tbrt the State ha st So of tho United Estates
five per cents nd besides 1928 2l0in specie and that
dhs interest the United States stock than pays all
the expenses of tb government Hence 1t has been sug
escd that the tas Of the last two years might be
Nnqished to the ossnties, and have doubt that
something of the kidd win be done The whoessf the
legislation of last session marked by such spr of
prod lily the cola idcnce Of OVERCOMING trs ury
and lax public COINCIDENCE likely to inspire A
bill passed donating six sections of lasd per mil to
all railroads. and hun< Of special land grants le-
wise became laws without any objection being mad,
the ground that all tbs land still actaally mort
gagged 10 the creditors Of the late republic 10 expect
however, amy justice honesty from Texas would be
futile the creditors aganst whom the United States
"a purchaser OF the public lands and proprietor the
customs Of Texas aye now substituted 10 the
thores Of the late republic have FOR some time past
confined their appeals for usce and redress to the ear
of Congress has been ascertaincd that the amount of
Texan debt for which the customs revenue was pledged
nd against which the S. 600 900 United States Eve per
cents were rcserrcd does not fall short IS 1888 600
La strict equity tie United states ought pay this spm
tothe utcrmost fartng and wee the stripped Of
the technicalities AID ombarrassnens which sur
roupA IL, there Is 40 doubt that shis would be done
Desparng, however, Of obtaining payment In full
some fof the credit<rs agreed tc compromise,
year two back and promised to their claims
would issue S. geo of three per
cents in leu Of the of FIVE per CENTS and pay
them in the former at par. bill was accordingly in.
frouced into the Senate in August 1882 BY Mr. Pearcc
Of Maryland, 10 effect this settlement but 1t failed
mainly understand, through the oppositsn Of the
Eenatqrs from Texas Mr.. Thompson, OF Kentucky has
introduced similar bill this session. and the qu4 ston
will again come before the Senate The motive which
induces creditors whs have undcniable claim on tts
United States for payment in cash in Ave per cents
TO accept bonds bearing emily three per cent interest
not readily percsiycd Whatever Texas may do, one Is
reluctant to expect unfair dealing at the hands Of the
United States and taking advantage Of the position Of