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Volume 13  Number 3  •  Winter 2009
Other Issues:  

Texas Treasury Notes after the Compromise of 1850
By Gary M. Pecquet, Clifford F. Thies
This article appeared in the Winter 2009 issue of The Independent Review

After the election of 1844, the U.S. Congress agreed to annex Texas on the condition that the new state assume the debt of the Republic of Texas and pledge its vast public lands against this debt. By 1850, however, the state of Texas had redeemed only a tiny fraction of the debt, and subsequent political developments left clear imprints in the financial markets.

 PDFRead the Full Article (PDF, 19 pages)

Other Independent Review articles by Gary M. Pecquet
    Summer 2016   Reputation Overrides Record: How Warren G. Harding Mistakenly Became the “Worst” President of the United States
    Spring 2013   The Calculus of Conquests: The Decline and Fall of the Returns to Roman Expansion
    Fall 2010   The Shaping of a Future President's Economic Thought: Richard T. Ely and Woodrow Wilson at “The Hopkins”
[View All (5)]