Oelrichs v. Spain
Supreme Court of the United States
Appeal from the Supreme Court for the District of Columbia, a court (as is said, infra, p. 219) of general jurisdiction, the case being thus: On the 9th of November, 1842, the Bank of the United States was the owner of $500,000 of the bonds of the then independent Republic of Texas, a government, at that time, of bad pecuniary credit. Owing W. S. Wetmore $50,000, the bank assigned these bonds, .with arrears of interest on them, to him as a security for the debt.
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Appeal from the Supreme Court for the District of Columbia, a court (as is said, infra, p. 219) of general jurisdiction, the case being thus: On the 9th of November, 1842, the Bank of the United States was the owner of $500,000 of the bonds of the then independent Republic of Texas, a government, at that time, of bad pecuniary credit. Owing W. S. Wetmore $50,000, the bank assigned these bonds, .with arrears of interest on them, to him as a security for the debt. In July, 1845, the Republic became one of the United States, under the name of the State of Texas, and immediately certain holders…
1Opinion of the CourtJustice Swayne
This litigation grows out of a prior suit, to which it is necessary briefly to advert in order to render intelligible the issues to be decided in the case before us.
The Bank of the United States assigned to William S. Wetmore certain bonds of .the State of Texas as security for a debt which the bank owed him. He surrendered the bonds to the State and received in their stead certificates of indebtedness which he deposited in the Treasury of the United States for payment, under the act of Congress of the 9th of September, 1850, and the explanatory act of February 28th, 1855. The bank thereafter…
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