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- Title
Texas Treasury Notes after the Compromise of 1850.
- Authors
PECQUET, GARY M.; THIES, CLIFFORD F.
- Abstract
The article tracks the market value of debt issued by the Republic of Texas following the Compromise of 1850. The repudiations of Texas' debt in 1842 and in 1848-1849 are described, noting the U.S. state of Texas' agreement to assume the debt of the former Republic of Texas following its 1845 annexation to the U.S. The final redemption of Texas' liabilities in 1856 is noted, describing the political climate within Texas between the 1840s and 1856. The tendency for debtor nations throughout modern history to fail to repay sovereign debt is also mentioned.
- Subjects
UNITED States; TEXAS; REPUDIATION (Public finance); PUBLIC debts; COMPROMISE of 1850; REPUBLIC of Texas, 1836-1846; ANNEXATION of Texas to the United States, 1845
- Publication
Independent Review, 2009, Vol 13, Issue 3, p411
- ISSN
1086-1653
- Publication type
Article