Explain how public debt became an issue prior to the annexation of Texas.(1 point) Responses Texas received a charter to open a bank prior to the start of the Texas Revolution, which created more debt for the state. Texas received a charter to open a bank prior to the start of the Texas Revolution, which created more debt for the state. Texas owed Mexico a lot of money for allowing Texas to break free. Texas owed Mexico a lot of money for allowing Texas to break free. Texas started off in debt and continued by taking loans and printing more money to make ends meet. Texas started off in debt and continued by taking loans and printing more money to make ends meet. Texas traded land for money owed with the Compromise of 1850, leaving it with less land to trade to get out of debt.
Prior to the annexation of Texas, public debt became an issue due to multiple factors. Firstly, Texas received a charter to open a bank before the start of the Texas Revolution. This resulted in the creation of more debt for the state as it had to borrow money to establish and operate the bank.
Secondly, Texas owed a significant amount of money to Mexico for allowing Texas to break free. The costs of the Texas Revolution, including military expenses and the establishment of the new government, contributed to this debt.
Furthermore, Texas began its journey as an independent nation already burdened with debt. To make ends meet, the state resorted to taking loans and printing more money, which further escalated their debt.
Lastly, Texas traded land for money owed with the Compromise of 1850. This decision left Texas with less land to leverage for trading and getting out of debt.
Overall, prior to annexation, public debt became a pressing issue for Texas due to the establishment of the bank, debts owed to Mexico, the initial burden of debt, borrowing and printing money, and the compromised land for money exchange.