Texas: the rise, progress, and prospects of the Republic of Texas, Vol.1 Page: 28 of 432
This book is part of the collection entitled: From Republic to State: Debates and Documents Relating to the Annexation of Texas, 1836-1856 and was provided to The Portal to Texas History by the UNT Libraries.
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interference in the domestic affairs of the slaveholding
States, and by the continuance of those restrictive
laws which refuse to allow our American
debtors to discharge their obligations with American
produce. Assuming that the Federal Union
decides upon war with this country, ways and means,
profit and loss, will of course be calculated. The
following form part of the war estimates with the
section favourable to a rupture : --i ; For
the support of the war, the two millions sterling
remitted annually to England, as interest on
loans, will remain in the States. Every thing requisite
for the equipment and supply of troops can be
drawn from the internal resources of the country.
The debt to be incurred will, consequently, be owing,
not to foreigners, but Americans ;-a National Debt
will increase the stability of the Federal system, and
a National Bank will relieve the distress and embarrassment
consequent upon hostilities and the stoppage
of external trade. War will also tend to adjust
sectional differences, and to impart a more homogeneous
aspect to the Union. New York and one
or two Atlantic cities, containing a large amount of
British property, may, it is true, be injured or destroyed,
but European troops can make no permanent
impression or the country, and the cost of
rebuilding a few towns is not too great a price to pay
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Kennedy, William. Texas: the rise, progress, and prospects of the Republic of Texas, Vol.1, book, January 1, 1841; London. (texashistory.unt.edu/ark:/67531/metapth2389/m1/28/: accessed July 22, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .