The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-03-31


large fortunes can be realized at small outlay These
mines richer than any in Virginia and Georgia which
are now and have been, worked with 80 much profit,
and know Of greater inducement for the invest
ment Of capital.
The Texas Debt.
THE MEMORIAL or THE CREDITORS OF THE LATE RE-
PUBLIC OF rRxAs TO THE CONGRESS OF TIE UNITED
1st They respectfully represent that, on the Sd Of
March, 1885, the government of the United States pro-
posed to the Republic of Texas certain terms Of aAnexa
ton which accepted the 4th OF July following
by the unanimous voice Of convention at Austin,
semboj for that purpose.
The effect of this act was destroy the national
ergnty Texas and ncOrporae her - one OF the States
of our unionat the same time that it rendered tho
United States responsible for the debt of Texas well as
for her existing with Mexico The last obligation
has been fully discharged succession Of glorious
Victories upon the soil Of the essmy and terminal
cd by an honorable peace
But eight have passed away-eght long years OF
hope defered-and no part Of the debt due your me-
ment of the United States to pay them as far as their
debts were secured by pledge of tho duties on i'm
before any judicial tribunal EARTH and it has been re.
peatedy recognized by Congress- well by the Execu-
n o on in & M By the Boundary act of
9th September 1850. The following extract from the
official Of the late Secretary of the Treasury is SUBJ
mtted, conclusive on this point -
It obvious tho careless perusa of the law
a 's Ct a as s
the debt Of Texas for the redemption Of which duties
for TO s T. b. H
lion. the stock be paid her In other words Congress
sn'
the ID for e
failure to DO the hye millions thus withheld should be
and United States should be p.d whole part
relative amount ofsuch debt and the fund reserved
The history Of the debt by Texas while she was
on the nn as the NJ
States it h makes the United States liable for this
laws Of nations which govern the subject arc well
.1S S
s .s ass
dvduas and that they except By voluntary
AND Complete 'd dsSsrss Homes xSsrs
contracts and BY the act 2,
saSscte to dominion latter Whereby the national
filling her obligations transferred to the latter all such ob
at IS S ns o ,hon
have hssp 50 transferred #, ID, ,u.,,
authority agreed this point from the time Of
thus to the Indeed the thus asserted
times without foreisns character
M nis
tho subject which doubtless dictated provision Of tho
WASH known
ing from duties on mports was. smonsss ali nations in
the e ON G
ths ports territories taken from the
of Y a Of justice had become the
This opinion was sustained by President Fillmore and
has been rearmed by the present administration with
slight variation as to the particular debts to which the
mted terms of the act of the 9th of September, 1850,
applied.
Your memorasts deem it unnecessary to add anything
BY the way Of argument or authority to this imposing
array in their behalf They do not believe that any pre-
cedent be found against themcertainy every prn
Whether one nation is absorbed by another by con-
quest by purchase by any other means, the law is
stll The same, has been wall settled by judicial de-
cisions and by all writers public laws. (See 9th
Peters Arredondo's case; ynkershoek LIST Book Cues
tiones; Juris Publici, chapter 70, page 1917
Your memoralists do not allow themselves to believe
Tint Congress will repuate these high authorities,
disregard their binding power.
ID There is another ground which they base their
claim to full payment by the government of the United
States, and upon which they would willingly stake their
in the supreme Court, before any other honest
BY the compact of annexation it was provided that
Texas should cede to the United States all public edi
fees Notifications, ports barracks and harbors navy
and navy yards docks magazines and ornaments, and
all other means pertaining to the public Defence and
that Texas should retain all the vacant and unappro
priaed lands lying within its limits to be applied to the
payment of the debts and liabilities of said republic of
Texas and the residue of said lands after dischargng
might direct"
On the 9th of September, 1850, the government of the
United States by solemn act of Congress- proposed the
State of Texas TO pay millions of dollars in five per
cent bonds for all her territory exterior to certain boun
diaries therein specially described which proposition
unanimously accepted by the Texas Legislature on the
25th of November 1850 The sovereign power selling
and the other purchasing portion of the very vacant
and unappropriaed lands the proceeds of which both
of the debts and liabilities Of said republic of Texas
Now your petitioners respectfully submit, that accord
ing to every established principle OF law and equity they
were the benefciaes in this contract and their debts
ought have been fully paid before any part Of said ten
millions OF dollars could be properly disposed of for any
other purposes and that the government Of the United
States bound to this trust faithfully executed
and responsible accordingly.
Sd. Suleradded 10 these high obligations Of national
law and positive contract your memorasts respectfully
represent that the United States actually in
debted they advised to the State Of Texas in
sufficient to pay the whole debt of the late republic
of Texas for which the duties on Imports were spc
cally pledged
l. In the sum of five millions Of dollars of FIVE per
cent bonds reserved under the boundary act of 1885,
which, with the interest accrued and fair premium
will amount TO over six millions and quarter Of dollars
q For expenditures made BY the Republic of Texas in
defending her frontiers against the Indians residing with
in the limits Of the United States whose hostile incur
sons the Of the United States bound TO
prevent, and wholly failed to do.
Your memoriasts have thus again respectfully sub
mitted their to Congress, and ASH FOR payment
Year after year they have been postponed until many
them have been forced to sacrifice all their property
t. pay their just debts and Of them have been ut
ry ruined If the government of the United States, at
tL late day, in the face Of all authority held sacred
eng men, refuses to pay them, then at least the mo-
ncy due Texas should be handed to them to
ii We her from responsibility.
All which is respectfully submitted.
b. II. MAY of Virginia.
JAMES ). HOLMAN, of Texas,
LESLIE COMES Of Kentucky,
G. ". LAMAR, of New York,
J. MiILBANk, Of New York,
On behalf of the Creditors of Texas.