Texas State Gazette. (Austin, Tex.), Vol. 2, No. 32, Ed. 1, Saturday, March 29, 1851 Page: 3 of 8
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1851.
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For the Siato Gazette.
Laying tlic Corner-Stone of tho Laml-Offlcc.
The Committee of Arrangements submit tlte following programme
for the procession at the laying of tho corner-stone of tho Laud-Office
on Monday next the 31st instant:
The members of Austin Lodge No. 12 and all visiting brethren
in ood standing will nsbomblc at Masonic Hall at half-past !) o'clock
a. it. and in proper order form and march to tho Hall of Metropolitan
.Division and after receiving that body will march down Congress
Avenue and halt in front of the Swisher House whore the procession
will be formed in the following order:
MUSIC.
Masonic Fraternity. '
Sons of T o m p a r a n c o . '
Odd Fellows.
Principals and Pupils of tho Austin Female Academy.
Judges of the Supreme and District Courts and other Civil Officcis.
t- Military Officers
Citizens and Strangers generally.
The procession will form at precisely 10 o'clock and march directly
to Capitol Hill the scene of the Ceremonies.
J. W. HAMPTON. ) Comritston
II. L. UPSHUR of
J. M. V. HALL. ) Airangeute:U3.
3 For the Stnto Gazette.
Our National Monument Contribution
Mr.ssns. Editors : Our State is said htely to have proved unmis-
takeubly her patriotism and love for the Union of States in an emi-
nent degree in the acceptance for the sake of that Union of the late
New Mexico-Texan boundary propositions lint she had before mani-
fested her patriotism and loyalty to the very father of the Union : she
did it too in as lasting and strong a manner as practicability would
allow and in the most appropriate and pcrpetuative way that the
enlightened spirit of the age could suggest. I allude to the law
passed by 0ur Legislature at I believe its last regular session provi-
ding fo; the procuring of a slab or block of marble or other durable
stone to be contributed by tho State of Texas Jo the monument in
course 0f erection at the national capital and soon to be dedicated to
the Father of his country the immortal Washington whom to
honor is not less than honor and who it is but faint truth to say
was
" Wie valiant generous good and great."
This law empowered and instructed the Governor (or at least re-
quested him if it did not instruct) to carry out the intentions or pro-
visions of the same as soon of course as might be found practicable.
My object in writing you these lines is to ask of you the information
if you can impart it whether Gov. Bell has done his duty and carried
out the patriotic will of the people hi the premises as prescribed and
expressed hi that law'.' I cannot but believe he has: for I know
with what commendab e fidelity and promptness he usually disposes
of his obligations: his course moreover has always been on the prin-
ciple that " the noblest motive is the public good." But it seems
strange if he has forwarded the block on to Washington that we
have seen no mention by the papers on the route of its having passed
any of their localities which fact would have been noticed most pro-
bably had it gone through Galveston for example or even left the
capital on its way to till its niche in the monument:
The appropriation for getting out and linishing the block was very
small ; but us the Governor did not make known the deficit if any at
either of the extra sessions I am led to the supposition that the sum
set apart was sufficient lor the purpose. In that event and the con-
tribution lias not yet been forwarded I would hardly know against
whoin to raise my voice or to what to attribute our failure thus far
to secure a place for Texas in that monument to the nation's idol
oven Freedom's benefactor.
I am Messrs. Editors a Bell man. Our late "set-to" with the
maternal government brought his abilities prominently in view.
That th?y enabled him safely to bring the "ship of state" back to the
harbor of harmony and security freighted literally with millions of
'litteriii"- "old and to moor her there more securely than she had ever
before been is plain to him who will but look and behold the signs of
happiness and prosperity which have been run up since his manage-
ment at the helm and which now float from the topgallautmast of
the noble cratt.
" What winning graces I what majestic mion 1
She moves a goddess and she looks u queen."'
As I said I admire ihc man. He is my choice before any other
yet mentioned in the State for our next Executive. But if he has
(and possibility will allow the omission on his part.) failed without
the potency of a good reason on his side in havi.g the Lono Star
already peeping in bold relief from out the monument it would only
require "a few more of the same sort" of instances of ind inference to
the wishes of the people for him to lose the as yet unabated confi-
dence of at least one in
TEXAS.
For the Texas State Gazette.
Public Debt of Texas.
Philadelphia March G 1831.
Messrs. Editors :
Feeling an interest in tho welfare of your rich and growing State
and being directly interested in the debt of the late Republic I olfer
through your columns some remarks tending to the latter which 1
trust you will give a place in your journal. And here allow me to
premise that I have always contended with parties residing in this
city that Texas would scorn repudiation and never know aught but
the force of her obligations and that in the course of time she would
pay them in full and redeem the pledges she had made in order to ob-
tain loans or give currency to those obligations which she issued as a
.-ort of circulating money. And although the tone of some journals
in vmir State mi" lit induce one to doubt whether her plighted honor
wiould be sacrificed ; and although under the provisions of the law of
1818 many of her obligations arc scaled to one-ionriu or one-unru oi
their face value yet 1 will not admit until forced to do so that a sover-
eign State with u full treasury and the richest domain of all the States
iii'thc Union will resort to the miserable plea of usury audcompel her
creditors who bought her bonds in good faith to take what she says
she obtained for them. These however were powerless and were
so when they took the loan. They confined in her honor for ulti-
mate payment and ran the hazard of losing tlie use of the interest for
many year? ; but they did not anticipate repudiation lor if they had
thev coul 1 have avoided the loan entirely.
lam fully acquainted with tho many hardships to which Texas was
subiected in her struggle for independence. 1 know that she offered
her lands as u pledge for loans and that she found it ditlicult to obtain
money even with the pledges. But it should bo borne in mind thut
whilst she was struggling to maintain her independence there was a
seurcity of money throughout the whole Union and that all Stuto secu-
rities were sold at prices fur below the face valuo. In this conjuncture
of alums her obligations -were issued for sale or circulation and it is
not to bo wondered at that they should be sold low money being
scarce and high. But the funds obtained for hor bonds enabled Iter to
triumph and.it' might be a question whether a dollar to Texas in
1810 was not worth its much as five dollars were to her now- Be
this however ns it may it is certain that she deemed tho money de-
sirable on the terms upon which she was obtaining it; for sluj contin
ued to borrow more run! to pledge her faith and honor for their full
payment. Nothing was then heard about paying the amount rd-
ceivedt or scaling tho debt to " an equitable standard;" on tho con-
trary she pledged by the law of 1810 all Iter revenues for the pay-
ment of a loan about to bo raised and also funded her notes in cir-
culation at pau and promised to those who would fund them as a
consideration to induce them to do so an interest of ten per cent. in
gold or silver. If the Itepublic of Texas on the Gtli of February
1810 admitted by a solemn legislative act that the ten per cent.
Funded Debt was worth pat' pray inform the world how the State of
Texas can by another law pronounce tho Itepublic the original
debtor to have been wrong and that the self same debt was in 1810
worth only thirty cents on the dollar? The Republic at that time
Lentertained no such scaling doctrines but was fully determined to up
hold her honor and faith ; and it seems to me that the State of Texas
having the settlement of the aifuirs of the Republic should endeavor
to comply with the contracts of the latter as they were understood at
the time of their creation.
By the sale of her territory to the United States Texas has ac-
quired $1 0000000 which with the accruing interest and the premium
which the U. S. stock will likely command will amount to about
$11000000 on the 1st January 1852. Her entire debt at that
time will amount to about $12800000 admitting that no bonds or
notes have been lost or destroyed. Now assuming the debt to be
as stated $12800000 she can pay it ai the followiiig manner i c. :
she might pay all the personal claims audited drafts etc. at par in
cash and then pay the federal debt of 1837 at 70c. in cash and the
debt to the U. S Bank at 89c. in cash and tho residue of each of these
claims in land scrip at a price to be fixed by the Legislature. All
other debts of the Republic might be paid with GOo. in money and
the remainder in land scrip. In this way the entire debt can be set-
tled honorably to Texas and satisfactorily to all the contractors
and still the State will have nearly $2000000 left for educational
purposes and internal improvements or any other purpose which the
Legislature may see fit to adopt. No reasonable objection it is con-
ceived can be urged against this plan of payment. It will leave the
State a large sum of ready money satisfy all reasonable creditors.
and acta a new lustre- to tne escutcucon ot a state glorious m arms
and by this act equally glorious in the forum of conscience and
services in tho field1 in defence of tHo liberty of the country una
advances made by men in the hour of'imhtinent peril j not with
the prospect of gainnot nt tho exorbitant rote ot five for one
but in the most exulted spirit of patriotism and devotion to the
cause of human frpedom. These men in obedience to tho law
of our Legislature brought forward the Texas money which
they had received for these services and advances and without a
murmur submitted to its requirements surrendered their original
evidences of debt; and received the now ones issued by the Au-
ditorJandjComptrollor. Many persons too both hero and abroad
who hod received this script have been compelled'by their ne-
cessities to dispose of it at a ruinous rate of discount. Would it
not be a gross outrage upon the rights of such as these for the
State to adopt a course in the payment of her debt different from
that which has been sanctioned by the laws and by which they
have been governed ? It was an unjust and injurious omission
on tho part of our Legislature at its last session not to have made
some immediate provision for this class of claims for most of
them were created long before a 'bond-broker ever saw Texas
and before these disinterested individuals came forward to encum-
ber us with their help.
We hope the peoplo of Texas will not suffer themselves to be
bullied or llood-winlced on this subject; and although I antici
pate that great efforts will be made by all sorts of means fair and
unfair to induce them to believe that it is not only right but to
their interest to pay over the debt at its face ; knowing the stuff
they are made of 1 have lillle apprehension that they can bo op-
erated upoti to do an act of such imbecile folly.
The voters of this county I think Messrs. Editors will take a
sobpr second thought before they deposit their votes for men to
represnt them in the next Legislature and will select only such
as may safely bo trusted and who will not legislate for the Shy-
locks of Wall street and Philadelphia but will first see what is
justly and honestly due to those both hero and abroad who fought
and suffered for our independence or who disinterestedly came
to our relief in the hour of need : men who we all know have
court of honor
But it may be urged that Tevas ought not nay is not morally
bound to pay more than she receives. I admit Messrs. Editors that
there is an apparent force in tins objection but only apparent when
the subject is investigated. Let us look into this matter and take
for instance the funded debt of 18-10. Under the provisions of the
law of 1818 the Comptroller has rated this debt as being worth 30c.
on the dollar " in par funds." It is presumed that 30c. on the dol-
lar is the average gold value of the promissory notes out of which
this funded debt was created. Now these promissory notes were in
circulation during the suspension of the banks when tho notes of all
banks from Philadelphia to New Orleans were from three to fifteen
per cent below the gold standard and when the bonds of almost every
State were selling at prices far below their nominal value. The
bonds of Indiana and Illinois at one time were nearly as low as those
of Texas ; the bonds of Pennsylvania were sold at 30c. ; those of
Kentucky and Tennessee at 5oc all of which are now at par or
nearly fo. Now if Texas so'd her notes at 30c when the bonds of
other States which are now at par were sold at 50c equity would
determine that the highest and lowest value should be regarded in the
adjustment. Furthermore the value of money is relative and a dol-
lar at one time is actually 'more valuable than at another time. When
Texas was struggling for liberty and the whole country in a state of
bankruptcy it is not to be supposed that she could obtain money at
lower rates than the times could justify ; and although she did sell
or pas her obligations at seemingly ruinous rates yet the means
thereby obtained enabled her to maintain her independence and gave
her the possession of a territory the value of which is incalculable.
Ought not thU consideration to be entertained by her when she comes
to look at tho scaling of a debt which she might have never been
able to pay 1 Suppose that she had failed in her glorious struggle
for freedom would not her creditors have failed with her ? They
would have lost their money ; and this fear of ultimate loss and the
high price of money at that time can be the only reasons which ex-
plain the causes which depressed her obligations so low. Now is it
fair is it equitable that she should offer them only what they
risked when she has ten millions in her treasury and a vast domain
of unappropriated lands ? cannot believe it and will not Until I
am convinced to the contrary by her own solemn act.
PUBLIUS.
To the Editors of the Stale Gazelle :
I hope you will reply to an article in the " Western Texan "
of tile 12th hibtunt upon the public debt of Texas. It is the
commencement among us of a movement havmg for its object
the design of inducing the Slate of Texas to pay her liabilities
tit their facd value. Impolitic and unjust as are the principles
involved in this scheme it may acquire weight and importance
if not promptly exposed. I am sometimes provoked and some-
times amused at the remarks of some of the papers of New York
and Philadelphia in relation to this subject. At one time they
are ready to risk all on the honor of (he gallant people of Texas
at another they are almost bursting with indignation nt the
bare idea that we should propose to pay ourdobtatitsaquivalent.
I can tell them though that wc are a people who are neither to
be bullied nor flattered into doing anything which is not perfect-
ly agreeable to our own notions of what is just and right and
that "they are1 expending breath to very little purpose in their silly
endeavors to do so. They tell us that if Texas refuses to pay
her debt at its face value every individual in the State will be
disgraced; that the credit of our merchants will be ruined and
probably the markets of the world will be closed to our cotton
and sugar ; and that we would be pronounced outlaws from their
favor and under the ban of their dreaded condemnation.
Dot on the other hand if we will only pay these exceedingly
conscientious gentlemen who aided Texas so much in the hour
of her difficulties by buying up her debts at one-tenth of their
value the veriest loafer in our streets will become a man of hon-
or and integrity with the command of unlimited credit and facil-
ities wherever ho may wish to use thorn. To be able to say I
am a citizen of Texas would be a passport to credit and respect-
ability throughout the world. Such ridiculous gammon as this
is an insult to our judgment and when the principles which
these financial moralists' wish to foist upon us ure brought to the
test of the ballot-box of the State they will find that our people
intend to settle' their debts upon their own plans on their own
terms and without the slightest reference to tho opinion which
Tom Dick and Harry may entertain on the subject. And if
these sensitive friends of Texas abroad would observe that ruo
of conduct good enough to be embraced in the decalogue: mind
your own business and let that of others alone that they would bo
benefitted thereby and wo no losers.
We can inform these moral meritorious- creditors that there
are within our State many citizonswho are the holders of her
liabilities created in a great majority of cases by the very parties
who. are yet tlie holders the conditions of which were pursonol
no money to invest in railroads or canals and v pay them off to
the utmost farthing before thespeeulator is paid one cent. It will
then be time enough to listen to those gentlemen sharpers who-
are such amazing sticklers for honpsty and who hold millions of
our liabilities which they have wrung from the necessities of
others for five and ten cents on the dollar ; who are now employ-
ing every means to embarrass the State in regard to the 10000
000. They would no doubt.like to see Texas defer the payment
of her debt tor a year or two yet as in the meantime they
could get hold of all the debts against tho State upon terms as
easy as they obtained that which they now hold. The Texan
enueavors tc aid the plan winch it lavors by connecting it with
the popular humbug of internal improvement but without enlight-
ening us as to the precise manner in which all which it proposes
is to be effected. Such a system would give rise to worse dissen-
sions more vexatious legislative wrangling and subornation
than any thing which ever before existed'on the continent and
would at last end in smoke.
The Texas Monument of the 12th of March talks about right
on this subject. When we want advice from abroad we will ask
for it. and pay for it too ; but it won't be from Reyerdy Johnson.
Such men as Mr. Whitney will find no difficulty in getting
prompt relief and their just dues. Such creditors as are not sat-
isfied to take the amount realized by the Government for the lia-
bilities which they hold and ten per cent on it 1 am in favor of
paying in laud at one dollar per acre ; and if they would just
hold on to it it may become worth five or ten dollars per acre.
They will not have to wait so long as many of us Texans have
done and who are. now glad to get par without the interest for
debts due us from ton to fifteen years.
Yours A BASTROP VOTER.
The new Postage Law
We find in our New York exchanges tlie following table giv-
ing the new postage law as passed by the Senate so far as.
newspapers are concerned. Our telegraphic information is that
the Senate's bill 'has been adopted by the House with some slight
amendments. Whether these amendments apply to letters or
newspapers or both we are not informed but we doubt not that
these rates arc nearly if not absolutely correct. The rates
charged are for the quarter of tho year.
Miles. Weekly. Seini-weekly. Tri-weekly. Oftenec
Under 51! (new law) 5 10 15 25
Present rate 12 2i 3G 48
Over 50 afid under 300 10 20 30 50
Present rate 13- 3G 54 103.
Over 300 and under 1000 15 30 45 75
Prefent rate 18 3G 51 103 '
Over 1000 and under 2000 20 40. CO 100-
Present rate 18 3G 51 108
Over 2000 and under 4000 25 50 7 ' 15.
Present rate 18 3G 51 108
Over 4000 30 GO 00 T50
Present rate 18 3ff 54 108
Papers of less than 1$ ounce half these rates j and papers no6
over 300 square inches one-fourlh these rates.
n3 The Senate in executive session on the 6th instant re-'
jected Gen. Hugh N. Smith as Secretary for the Territory of New
Mexico. Mr. Smith was known to be a Fieesoiler arx an inti-
mate friend to Benton. His negro letter nt the time the compro-
mise measures were up in tho Senate left his sentiments on re-
cord. His being overslaughed does not enlist any sympathy 'in
Washington. New Orleans Picayune. "
.
The Public Debt.
Sir. Dawson announced in Congress on Saturday that at the-
end of the present fiscal year the public debt of the United States-
will be one hundred millions of dollars." No person would ima-
gine so as is truly said by the Philuderphm Ledger to see-
the reckless manner in which members of Congress and the heads
of departments propose to expend tho public- money
Ep- Tlie Victoria Advocate says a brutal murder was comrrwttcd' in
He Witt county on the 4th iustaut by some Mexicans upon an
American named Richardson or Richmond. The murderers were-
arrested and after trial were admitted to. bail in the sura of ouo.
thousand dollars- 4
GemS worth Preserving.
I will hazard tho assertion that no-man ever did orover will
become truly eloquen-t without being a constant reader of the
Bible and an admirer of the purityr and sublimity of its language.
Fisher Ames
Young man attend totho voico of one who- has possessed a
certain degree of fame in the world and who will shortly appear
before his Maker. Road the Biblo every day of your lifel-Dr.
Samuel Johnson..
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Brewster, H. P. & Hampton, J. W. Texas State Gazette. (Austin, Tex.), Vol. 2, No. 32, Ed. 1, Saturday, March 29, 1851, newspaper, March 29, 1851; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth80972/m1/3/: accessed May 1, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting The Dolph Briscoe Center for American History.