Final answer:
The Compromise of 1850 resulted in Texas establishing its current boundaries in exchange for federal compensation of $10 million, with the broader impact of managing but not resolving sectional conflicts over slavery.
Step-by-step explanation:
The Compromise of 1850 established Texas's present boundaries in exchange for a payment from the federal government. Texas did not revert control to Mexico, nor did it have to sell its public lands within five years, and while it could potentially divide into more states, that was not a provision of this particular compromise.
The Compromise of 1850 was a series of legislative measures intended to quell the growing tensions between the North and South over issues including the expansion of slavery. Stephen Douglas was instrumental in pushing the compromise through Congress. The agreement admitted California as a free state, while New Mexico and Utah territories were allowed to decide on slavery based on the principle of popular sovereignty. This concept meant that the territories themselves would determine their status regarding slavery. A critical component for Texas was the settling of its western boundary in favor of New Mexico, which was viewed positively by the North. In compensation for the land ceded, the federal government provided Texas with $10 million to pay off debt incurred during its time as an independent republic. The compromise also included the contentious Fugitive Slave Act, a matter that only increased sectional strife, leading to heightened tensions and ultimately civil war.