Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-06-07
TEXAS INDEMNITY STOCK.
How Texas Surrendered Doubtful Claims to an
Extensive Territory on Entering the Union.

How Texas Surrendered Doubtful Claims to an
Extensive Territory on Entering the Union.
Correspondence of the Gazette.
WASHINGTON, June LIN a report
prepared by Raphael A.. Bayley of the
treasury department on the "National
Loans of the United States, - the follow
ing interesting account is given of the
Texas indemnity stock:
The state OF Texas when first annexed to the
United States had doubtful claims to an, extern
sive territory. 1t said, in debate the
subject, that her southeast corner was at the
mouth of the Rio Grande, the region of perpet-
tual flowers, her northeast corner near the South
pass in the Rocky mountains, region of ever
lasting SHOWS: that she had front on the Gulf
of Mexico Of 1000 miles, front on the Rio
Grande, partly disputed, of 1000 miles, an un-
disputed frontier on the Arkansas of 1000 miles
and within these boundaries she claimed an
area Of S5O, COZ square miles. or more than equal
to seven states as large as Pennsylvania.
To somewhat reduce this enormous territory,
to pay her somewhat shadowy claims to all the
public lands within these boundaries, and to OBJ
tain from her release of her claims the
United States for liability for her debts, and to
indemnify her for the surrender of her ships,
forts arsenals custom houses, munitions of
war, and public buildings, bill was intro duced
in the senate August 5, 1850.
The bill, notwithstanding strenuous opposi-
ton, was passed and approved September 8,
1850 i9 Statutes, All. It provided that if the
state of Texas should consent that her boundary
on the north should commence at poiut at
which the meridian of 100 deg. west from Green
witch is intersected by the parallel OF 30 deg.
30 min. north latitude and run thence due west
to the meridian of 1903 deg. west from Green
witch, thence south to the % deg. of north lati-
tude then on said parallel to the Rio Bravo del
Norte, and thence, with the channel of said
river to the Gulf of Mexico, and should cede to
the United States all her claim to the territory
exterior to these boundaries, and relinquish all
claim on the United States for liability for her
debts, and for compensation for the sur
render of her ships, FORTS, custom houses,
public buildings, ETC.. then the United States
in consideration for the same, should pay her
the sum of $40, 0O0, 900 in stock, bearing per
cent. interest, payable serni-annually, redeema-
BILE at the end OF fourteen years. No more than
IS 0O 900 OF said stock to be issued until the
the creditors of the state holding bonds and
other certificates of the stock Of Texas, for
which duties imports were specifically
pledged, should first file at the treasury releases
of all claim against the United States on account
of said bonds or certificates.
Under this act but s., zoo, 900 in stock was
issued, as 3 subsequent act, approved February
o. 1856, flo statutes. SIT, provided that the
creditors Of Texas should be paid in cash, and
increased the amount to be paid them to 81, 75O.-
600, to be divided pro rata among such creditors
of the stEte as were comprehended in the act OF
Seutember 9. 1850. 90