Editing Republic of Texas (section)

==Diplomatic relations and foreign trade==
{{Main|Foreign relations of the Republic of Texas}}
[[File:Hôtel Bataille de Francès.jpg|thumb|left|The Hôtel Bataille de Francès (now [[Hôtel de Vendôme (place Vendôme, Paris)|Hôtel de Vendôme]]), [[Place Vendôme]] in Paris, housed the Embassy of the Republic of Texas.]]

During its existence, the Republic of Texas received diplomatic recognition from only six nations: [[Belgium]], [[France]], the [[Netherlands]], the [[Republic of Yucatán]], the [[United Kingdom of Great Britain and Ireland|United Kingdom]], and the [[United States|United States of America]]. Texas' status as a slaveholding country and Mexico's claim on the territory caused significant problems in the foreign relations of Texas with other nations.<ref name="seeds" />

Although it was supported by the vast majority of Texians at the time of independence,<ref>{{Cite web |title=Early Statehood |url=https://texasourtexas.texaspbs.org/the-eras-of-texas/early-statehood/ |access-date=2024-01-20 |website=Texas Our Texas |language=en-US}}</ref> annexation by the United States was prevented by the leadership of both major U.S. political parties, the [[History of the Democratic Party (United States)|Democrats]] and the [[Whig Party (United States)|Whigs]], who opposed the introduction of a vast slave-holding region into a country already divided into pro- and anti-slavery sections and wished to avoid a war with Mexico.

On March 3, 1837, U.S. President [[Andrew Jackson]] appointed [[Alcée Louis la Branche|Alcée La Branche]] as ''[[List of ambassadors of the United States to Texas|chargé d'affaires]]'' to the Republic of Texas, thus officially recognizing Texas as an independent republic.<ref>[https://tshaonline.org/handbook/online/articles/fla06 "La Branche, Alcée Louis". ''Handbook of Texas Online''.] Retrieved Apr. 7, 2010.</ref> France granted official recognition of Texas on September 25, 1839, appointing Alphonse Dubois de Saligny to serve as ''chargé d'affaires''. The [[French Legation, Texas|French Legation]] was built in 1841, and still stands in Austin as the oldest frame structure in the city.<ref>[http://www.museumsusa.org/museums/info/1167504 Museum Info], French Legation Museum.</ref> Conversely, the Republic of Texas embassy in Paris was located in what is now the [[Hôtel de Vendôme (place Vendôme, Paris)|Hôtel de Vendôme]], adjacent to the [[Place Vendôme]] in the [[1st arrondissement of Paris]].<ref>{{cite web|url=http://www.parisdeuxieme.com/2007/06/paris-embassy-of-texas.html |title=Paris 2e: The Paris Embassy of Texas |publisher=Parisdeuxieme.com |date=June 28, 2007 |access-date=July 10, 2013}}</ref>

The United Kingdom hesitated to grant official recognition to the Republic of Texas due to its own friendly relations with Mexico, but nevertheless admitted Texian goods into British ports. In [[London]], opposite the gates to [[St. James's Palace]], the original Embassy of the Republic of Texas is now a hat shop but is clearly marked with a large plaque and there was a nearby restaurant in [[Trafalgar Square]] called the Texas Embassy Cantina, which closed in June 2012.<ref>{{cite web|url=https://tshaonline.org/handbook/online/articles/mgd01|title=Diplomatic Relations of the Republic of Texas }}</ref> A plaque on the exterior of 3 St. James's Street in London notes that the upper floors of the building housed the Texas Legation.

The United Kingdom eventually recognized Texas in the 1840s after a cotton price crash, in a failed attempt to coerce Texas to give up slavery (replacing slave-produced cotton from southern U.S. states) and to stop expansion of the United States to the southwest.<ref name="seeds">{{cite book |title=Seeds of Empire: Cotton, Slavery, and the Transformation of the Texas Borderlands, 1800–1850 |year=2015 |isbn=978-1469624242 |publisher=The University of North Carolina Press |first=Andrew J.|last=Torget}}</ref> The cotton price crash of the 1840s bankrupted the Republic, increasing the urgency of finding foreign allies who could help prevent a reconquest by Mexico.<ref name="seeds" />

The Republic of Texas faced significant economic challenges, including the establishment of a stable financial system.While some banks were established, the lack of a centralized banking system and the volatility of the Texas dollar made financial transactions difficult. Private banking played a crucial role, but it was often unregulated and subject to fluctuations in the market.<ref>{{Cite web |last=taracarron |date=2023-10-05 |title=Texas Redback Currency: A Hidden Gem in the John P. McGovern, MD Collection of Texas Historical Medical Documents |url=https://library.tmc.edu/mcgovern/2023/10/05/texas-redback-currency-a-hidden-gem-in-the-john-p-mcgovern-md-collection-of-texas-historical-medical-documents/ |access-date=2024-12-09 |website=McGovern Historical Center |language=en}}</ref>