Texas war ready to join the United States of America as its territory in 1836, when it got independent from Mexico. But there were some reasons its annexation as delayed until 1845. One of those reason was that Texas had to abolish slavery.
Many northerners believed that with Texas, south would add another slave state and this would ruin the balance between slave and free states. Thus, Texas was first asked to abolish slavery in order to be annexed.
to assume an excessive amount of business risk in speculating on something (such as stocks) overspeculated in real estate … this is exactly the sort of imbalance that brings on big crashes.
