Columbia Democrat and Bloomsburg general advertiser. (Bloomsburg, Pa.) 1850-1866, December 19, 1857, Image 1

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L'tlttor, Publisher & I'roiiriclor.
"To hold and trim tHo lorcli ol' Truth anil Wave it o'er the darkened Earth"
One Dollar & Scuuly-livc els, In advaiicc.
VOL. XL-NO. 41.
.r.rnr A nn tit r n i A ) . insure tho convertibility of tlicir notes into i own country-suoli as collon.iron.aud wool-1 flection : if exporionco shall prove it to bo
uijuuiiijf in j mm ai. v ( QAjn ni nil linica auu uuuur u:i uiiuuuisuu
rublkhcd (very Satunluij Moruiits, by cos. No bank ought ever to bo chartered
ry j TATE-. without such restrictions on its business ns
TV. T(" Pnln mhifi fin to eecuro this result. All other restrictions
In Bloomsburg, Columbia uo , arativcly vain. TMj is tho onJy
Office. Lithe nexolinch lhahhug, ttf"' .... ?,.
pontetht Exchange! side of lheConto( a paper curcuoy tlio only ono which
lhuse,"J)cmecr,Uw Head quarters, Jd t,i(J wio a . st Qy(jp issuo3
cn fabrios would not only have acquired 1 impossible to enjoy tho facilities winch
almost oxeluaivo possession of tho homo well regulated bunks might afford, without
niarliot, but would liavo created for them- nt tho samo timo suffering tho ctlamities
selves a foreign market throughout tbo which the oxorsscs of tho tanks liavo liith-
world, crto iuflictod upon the country, it would
Deplorable, however, as may bo our then bo far tho lesser evil to doprite tbom
present finauc'nl condition, wo may yot in- altogether of tho power to issuo a p.ipcr
dulgo in bright hopc3 for tho future No curroncy and conQno them to tho functions
other nalioulms over existed, which could of banks of dispositc and discount.!
havo endured such violont expansions and Our relations with foreign governments
and in all cases ouglit to Lo required, that 1 contractions of paper credits without last- nrp, upon tho wholo, in a satisfactory con-
T 1:11118 OF i ubi in r T iu.i i , . - - i
t.OO Tn ft.trnncc, for ono copy, for elr moutUJ. aUU UanK suspensions. ii5 l CQIiaicrJl
J,il? If not paid t,ln l,o first throo months. . . f , .,., , ' I
Z,2i ir not liaia Trunin mo ursmi luumus. -..-.. ..0... - ,i .1 ,1ii:
t.,H if not paid within the yenr. 1 banks shall hold an amount of United States 1 nig injury; yot the buoyancy of youth, tho union
.ftnip. .r securities equal to t ueir no es in
luvo Ijfpnpnld. ' circulation and pledged for their reuemp-
UJ- uruiunry auvoruiemoni. insoriou t,on, j.-g 0W0Vcr, lUmiStlOS no aileflUatO
I sonnritv flfrnlnel, over i$sup3. On tho con-
o . . . . rt . ' .... .i - i i
cork ciccutod atthocstabiriiod pricos.
finovrrioa nf nur tionulation. nnd tho snint The diplomatic diflicultics which existed
win oh nnvcr nuails beforo difficulties, will between the Government of tho United
cnablo us soon to rco ivcr from our present States and that of Great llritain at tho
power in everyform, and exempted tholtho ports of tho Unitod States unon tho will act in harmomous conoort to obtain
1 . . i . .i. . r t. ' Wmd toIiIi nur ntii vourMs. rrnviued similar commercial treaties for each o? Ihn
people oi ilia laiauus irum iuu iiuiiumau,u ...... w. L- . -rr-
of military duty except for their own ox- Ihoy would reciprocate to us simijar advan. powora they roprcsent.
elusivo defence. It also prohibited that tages. ams aei onnunou uie reciprmi 10 n u ..... u .i uWI. micros i
rcpublio from erecting fortifications upon 1 tho productions 01 mo respective lorcigi ;u u. uu..iU q. ib inoo
them for their -protection thus leaving nations who miglit enter into the proposed pendent republics on our own continent, a:
them open to invasion from any quarter , 1 arrangement with the United States. Ihe well as of the hmmro of Brazil,
and. finally, it provided "that slavory shall , act of My 21, 1S23, removed this restnc , Our difficulties with Now Grenada, which
itintl in! lion, and offered a similar reciprocity to a snort tinio sinco bore so tureatotinit an
tlicrcin " f-11 sttcl1 vessels wituout rciorcnco to uiu iiiect arc, it is tu oo ncpeu, iu a iair tram
Hud Honduras ratified this convention, oriSin of their cargoes. Upon these pnu. o settlement, in a manner just ana honor
she would have ratified tbo establishment of ciplcs, our commercial treaties and arrange, ablo to b ith parties.
Stato substantially Independent within monts liavo neon lounueu, cxcepi. wan iiu.wut mciuu
r own limits, and a Stato nt all times Franco; aud let us hope that this exception ing that of Panama, the great highway
which 3 largo portion of the commerce of
(n Uri'icl. indiionnn nnd ennlrol. ' Wav not lona exist.
ir. i!ii,i voddnrl Our relations with Russia remain.
lUUlliUVCI. U.u U1U uuiibu win"-. . . ... . .. mi rr
- ! fiimueial, aud may oven adjournment of the last Oongresshavo been tho treaty with Great Britain in its original they have ever been, on luo most irienuiy , tuo wonu qosi W
, , , it iSavbn nervcrtod to inllato tho oeoa-ion us sneedilv to lonct tho lesson lnpn ly term natedby t ho apno ntmcut of a form we should havo been Dounu "to re looting. iuo pruaBiii. uipu.u., . u 1v .-.v..v-...
IJniPTmnVT'P"? TiriTSS A Pit1, ournneV & deed ti 11 possib o by ths whiel, they have St. ' liriish Minister to this coLry, who has oogniso and respect in all future time" these his predecessors, have never fa. M, when other nation in preserving thefrcedom and
I fc MIbAUHi. ! ZlZYoJn vor 1 L debZ I o Un ted Tn tlnoanUmo ft ii tho duty of tho been cordially received. I adulations to the prejudice of Honduras, the occasion offered, to manifest their good seeur.ty o all ho eommumca ,on , netoj .
States and tato vcrntneiiU i,o bank ' Government, by all proper nieanstvi thin its , Whilst it, gieatly , tho interest as Being n reet option to tpiri an toour v neir ,BU ;u.
vwn,iuv iu i.3 mi, w. ( I.H..U..M. w. . . . - . , - t - - r- TT'ii i t... ! : r 1...
Wowcftfcio,Mc&?wcawiiMM t0 luc s ' ie ro. power, to aid in allevhting tho sufferings
WrnrnKf'nn.h.rr.8 : ' . . ..... tt .. ..r.t. i l l... il.-
Representatives : nuircd to redeem them. Hotvovcr valuablo of tlio pooplo occasioned by tho suspension
- . . . .. t i .v - . . ... i .. .i .1 .i ... -r .i.- i i. nn.t t n
In obcuicnco to too commanu oi mo . incso securities may ou iu tiiunisuivus, nicy ui iuu uuuks, uuu w nuuuu "u""" " lu
Constitution, it has now become my duty c.inuot bo ciuvcrtcd into gold and silver curreneo of the samo calamity. Unfortu
"to give to Congress information of the at themoment of prcssuro, as our experience .lately, in either respoet of the oase, it can
stato of the Union, and recommend to their I teaches, iu sufficient time lo prevent bank do but little. Thinks to tho independent
consideration such measures ' as i may
judge to bo "necessary and expedient."
Hut first, aad above all, our thanks are
due to Alm'mbty God for the numerous
benefits which Uo his bestowed upon this
people j and our united prayers ought to
ascend to Him that Uo would continue to
bless our great republic in timo to come as
lie has blessed it in timo past. Since tho
adjournment of tlio last Conuress, our con
stituents have enj'ij'ed an unusual degreo
of health. Tlio earth has jioldod lior
fruits abundantly, and has bountifully re
warded tho toil of tho liusbandm m. Our
great staples liavo commanded high pricos,
and, up till within a brief period, our
liianufaoturiug, mineral and mechanical
occupations have largely partaken of the
general prosperity. Wc have possessed nil
tho elements of material wealth in rich
abundance, aud yet, notwithstanding all
these advantages, our country, in its mo
netary interests, is at the present moment
iu a deplorable conditio... In tuo miust ol
unsurpassed tileuty in all tho productions
of agriculture, and it. all the elements of
national woallh, wo find our manufactures
Fiispcnded, our publ'n: works retarded, our
private enterprises ofdifferent kinds abm-
doucd, and th tisauds of useful laborers
governments and peoplo of the two countries
in uo on terms oi iiuimniu muiium,, uu
each other, it lias been our misfortune al-
can ' most always to havo had somo irritating, if
lout I not dangerous, out-standing question with
uisnniiMnns and tho dcnruciatio.i of bank troasurv. tho Government has not suspend- Groat Britain.
notes. In England, which is lo a consd- cd payment, as it was compelled to do by Since tho origin of the government, wo
crablo extent a paper money coqntry, ' tho failuro ol tho banks in 18q7. It will havo been employed in negotiating troa
though vastly behind our own in this rcspcot, continue to discharge its liabilities to the ties with tint power, and afterwards in
it was deemed advisable, anterior to tho people in gold and tilvcr. Its disburse- discussing their truo intent and meaning,
act of Parliament of 18-11, which wisely mcnts in oi.iu will pass into circulation, In this respect, the convention of April 10,
separated the issuo of notes from ihohmkiug and materia iy assist in restoring a Bound 1850, commoDly called tho Clayton and
department, for tho Hank of EngUnd currency. 1-rom its high credit, should Uulver treaty, has been tuo most untor
silways to keep on hand gold and silver wo be compelled to mako a temporary loan, i
equal to one third of its combined circula- j it can bo affected on advantageous terms.
lion and deposits. It tins proportion was i ins, however, s.ian, it possiuie, nn nv. in.
no moro Hum ouniclcnt to secure tho con- cd ; but, it not, then tho amount shall bo
vcrtibility of its notes, with tho wholo of limited to tlio lowest practicable sum.
(iroat Britain, and to somo extent the I havo therefore determined that whilst
continent of Europe, as a field for its oil-- n i useful government works alroidy in
eulation, rendering it almost impossible progress shall bo suspended now works,
that a sudden aud iuiniodialo run to a not already commenced, will bo postponed
dangerous amount should bo made upon it, if ibis can bo done without injury to tho
tho same proportion would certainly bo couutry. Those necessary for its defence
insufficient under our banking sys cm. slnll proceed as though there had been no
Each of our fourteen hundred banks has crisis iu qur monetary affairs,
but a limited circumfercnco for its eiroula- Hut the Federal Government cannot do
tiou, and iu tbo coursj of a very few days much to provide against a rceurrenco of
tho depositors and note holders might existing evil. Even if insurmountable
demand from such a bank a sufficient ' constitutional objections did not exist
amount in specie to compel it to suspend, ( against the creation of a National bank,
even although it had coin in its vault3 this would furnish no adequate preventive
equal to ono third of its immediate liabili- security. Tho history of the last Hack of
tics. And yet I am not aware, with the the United fatates abundantly provc3 the
exception of tlio banks ot Louisiana, that trutu ol tins assertion, bucti a ba'ii; could
tM,l i il ITn!irl Rinipq. thn noverument and nconlo of tho United cither by invasions from our country or by
Ppnnifi reicctcd the entire clause, and sub-! Hta-es. , wars between tho independent state? of
With all other European governments, Central America.. Under oar Iroaty -with
except that of Spam, our relations aro as iNctv Urcnaaa ot tne l-'tu irecemoer, laiu,
noacoful as wo could t csire. l resret to wo are uounu to guaranty mo uumiansy ct
stituted iu its stead a eimplo recognition of
tho sovereign right ot Honduras to these
S-t 1 n ln ll.n fnllnlnr 1 . t .... t . .I'l'ltA
1S1UUU3 in luw iviivinuft juuuut, . .w t- - o ., , ,, e 11 aI t 1-1.1
two contracting parties do hereby mutually I say that no progress whatever has been tlio Isthmus of Panama, through winch tho
cngaeo to recognize and respect tho islands j made, sinco the adjournment of Congress, Panama railroad passes, " as well as the
of Kuatan, Honaco, Utila, Harbarctta,
Helena and Moral, situate in tho Hay of
Honduras, and off tho coast of the republic
of Honduras, as under tho sovereignty
and aspait of tho rcpublio of Honduras."
Great Britain rejected this amendment,
assigning as tho only reason, that tho rati
fications of tho convention of the 27th of
Aucust. 1S5H, between uer ana lionuuras,
tunatoofall; bcciuso tho two government
place directly opposite and contradictory
f.rtnol,Mil,nna unnn its fir?f. mill mnst. imnnr.
taut article. Whilst, in the united states, Had nut boon -cscuangcu, owing to tne
wo believed that tho treaty would placo hcM ation of iho government." Had this
both powers upon an exact equality by the been done, it is stated that "her Majesty s
stipulation that neither will ever "occupy, government would havo had little difficulty
or oolooize, or assumo or exercise any 1 in agreeiug lo the modification proposcp
dominion" over, any part of Central by tho Senate, which then would have had
America, it is contended by tho British iu effect the same signification as tho origi
govornmout that the true construction of i nal wording." Whether this would have
this language has left them in tho righful been tho effect! whether tho more circura
possession of all that p irtion of Central stance of the oxchingo of tho ratifications
America which was iu their occupancy at of the British cor.vcn ion with Honduras
tho date of tho treaty; in fact, that tho 1 prior iu point of time to the ratification of
treaty is a virtual recognition on mo part i our treaty witu tircat .untain wouiu, "in
of the Unitod States of tho right of Great I effect," havo bad "tho samo signification
Hriltaiu, either as owner or protector, to 1 as tho original wording," and thus have
tho whole extensive coast ot uontrai Amer
ioi, sweeping round from tho llio Hondo
towards tlio settlement of any of the nu- rights of sovereignly and property which,
morous claims of our citizens against tho Keto Grenada has ami possesses over the
Spanisli government. Besides, tho outrage ' said Teni'.ory." This obligation is found
committed on our flag by tho Spanish war cd upon equivalents granted by tho treaty
frigate Fcrrolana, on tlio high seas, oil tlio ; to tlio government ann people oi iuo udi;
coast of Cuba, in March, 1855, by firing led States.
into tho American Mail Steamer, El Uora- I Under theso circumstances, I reeommend
do. and detaining and searching, remains
' . . ... . i . i i m.
unaoitnowieugcu anu uurcurcssca. j.ub
to Conerosa tbo passage of an act authori
zing tho President, in case of necessity, to
thrown out i,f and reduced to I any State bank throughout tho Union has not if it would, regulato llio i-ouct and
want I he revenue ot tlio,
hi h is chiefly derived form duties on Im
pot nfrtnn abroad,hasboen greatly reduced,
whiUi the iipiironiitiiiiH made by Congress
at it.-. I i.-t o.-aiou for the current fiscal year
ar,' uTt large in amount.
U di'r those ulrcuiintiiccs i loin may
be l e'iui' cd bufi to the close of your present
n; but ihU, nlth'Higli deeply to bo
I .'i filed, woul I prove to bo only a Might
imU'iiUiiio when compared with tin' suffer
jnj ami distress prevailing among tho
I en le. With this the government cannot
l.iil ilei ply to sympathize, though it may
be without tho pqwer to extend lelief.
It js our duty to inquire what has pro
din ed such untoilu.ialo results, and whether
their recurrence can bo prevented t In all
former revulsions tlio blame might havo
been fairly attributed to a variety of ro
operating causes ; but not ko upon the
present occasion. It is apparent that our
existing misfortunes have proceeded solely
from our extravagant and vicious system
of paper currency and credit., exci
ting the people to wild speculations and
gambling in stocks. These luviuVious must
continue to recur at successive intervals so
long as tho amount of tho paper currency,
;iud ban n inans and discounts ot the country
rli a 1 1 bo left to the discretion of fourteen
been required by its charter to keep this , credits of fqurtceu hundred Stato Banks in
or any proportion of gold and silver com- 1 such a manner as to prevent tho ruinous
pared with tho amount of its combined expansions and contractions in our ourrenry
circulation and depo-its. What lias been which afflicted the country throughout tho
tho consequence! hi a recout report made f existence of the lata bank, or secure U3
by tho Treasury Department on the con- against future suspensi ns. In 1825, an
i itiou of tho banks throughout the different ', effort was made by the Bank of England
States, according to returns dated nearest to curtail the issue? of tho country banks
to January, 1857, tbo aggregate amount under the most favorablo eircumstnncos.
of actual tpecio in their vaults is S5S,:! 10,- Tho paper currcuey had been expanded to
8:itl,of their circulation ?'2i:i.778,822, ami 1 a ruinous extent, and tho Dank put forth
of their deposits S2:i0,!l5l,:tl2. Thus it all its power to contract it in order to re
appoT.s that these banks iu tho aggrcgato ! ducc prices and restore the' cqui ibrium of
to tho pott and harbor of San Juan do
Nicaragua; together with tho adjaecntBay
islnuua. e.ocpc tlic compnrawvui y otnaj.
luvo considerably less than ana dollar iu
socn ol gold and silver compared witn
their circulation and deposits. It was
palpable, therefore, that tho very firt
tho foreign exchanges. It accordingly
I commonccd a system of curtailment of its
' loans and issues, in the vain Inpe that the
joint stock and private banks ot the king
pressure must drive them to suspension, dom would bo compelled to follow its rx
uiid deprivo the people of a convertible 1 ample. It found, however tint as it con
currency with all its disastrous coniequcn- ! traded they expanded, and at tho end of
ce.s. It is truly wonderful that tlioy should ' the process, to employ the lmguago of a
have so long continued to prcsoivc their ' very high official authority, "whatever ro
crt dit, when a demand lor the payment of , duotion of tho paper circulation was effjet
one seventh of their immediate liabilities cd by the Bulk of England (in 1825) was
would liavo driven them into solvency. j more than made up by the issuo of tho
And this is the condition of tho banks, j country banks."
notwithstanding that four hundred millions , Hut tho Bank of tho United Statos would
of gold from California have flowed in ' not, if it could, restrain tho issues aud loans
upon us tvithiu the last eight years, and ! of tho Stato banks, becauso duty as a regu
the tide still continues to How. Indeed, lator of thecurren y mustoftou be in direct
such has been the extravagance ot bank contact with the untucdiato mtcre-t ot its
nulified the amendment of tho Senate, may
well bo doubted. It 13, perhaps, fortunato
that tho question has never arises.
Tho British government, immediately
utter relectiiiK the treaty as amended,
portion of this between the Sarstocm aud proposed to outer into a now treaty with
Cape Honduras. According to their con- the United States, similar in all respects to
struction, tbo treaty docs no more than tho treaty which they bad refused to ratify,
simply prohibit then from extending their if tbo United States would oonsent to add
possessions in uontrai America uoyouu t0 tbo Senate's clear ami unqualilicu rc
their present limits. It is not too muoli ' cognition of the sovereignty of Honduras
to assert, that if in tho United Statos the over tho Bay Islands tho following condi
treaty had been, considered suscoptiblo of , tions: ''Whenever and so soon as tho
such a construction, it never would havo , republic of Honduras shall have concluded
been nojotiatcu under tho authority of tho , ami ratified a treaty with Great Britain
Prcsideu', nor would it havo received tho smilj havo ceded, and the rcpublio of Hon
approbation of tho Senate. duras shall havo acooptod, the said islands,
I he universal conviction in tho United i subject to tho provisions and conditions
Stales was, that when our government' contained in such treaty."
eonsouted to uolato its traditional and lpj proposition was, of course, rejected,
timo Honored policy, and to stipulate with After the Senato had refused to recognise
a foreign government never to occupy or j til0 IJritish convention with Honduras of
acquire territory iu the Central American1 tlio 27th August, 1850, with full knowledge
poition of our own continent, the considcra-1 0f contents, it was impossible for me,
tiou for this sacrifice was that Great Brit- necessarily ignorant of "tho provisions and
ain should in this respect at least bo conditions'' which miht be contained in a
plced in the same position witli ourselves, futuro convention between tho same parties,
Whilst wo havo no right to doubt tho ' to sanction them in advance.
sincerity of the British government in their j 'j'ue. fact is, when two nations like Great
construction nf the treaty, it is at tho same Uritoin and the Uritcd States, mutually
time my deliberate conviction that this , desirous, as they arc, and I trust over may
construction is in opposition both to its ! be, of maintaining the most friendly rela
lottcr and its spirit. tions with each other, havo unfortunately
Under the lato administration nogotia-1 concluded a treaty which they understand
tions were instituted between tbo two gov-' in senses directly opposite, tho wisest course
ernnients for tho purpose, if possible, of I is to nbrogato buoh a troaty by mutual
credits that tho banks now Irdd a eonsid- stockholders. If wo expect one agont to 1 removing theso dillicufties, and a treaty ' consent, and to commenco anew. Had
general tone and temper of tho Spanisli employ the land and naval forces of tho
government towardu that of tho United United States to carry into effect Hits
States aro much to bo regretted. Our ' guarantee of neutrality and protcction. I
present envoy extraordinary and minister also recommend similar legislation for the
plenipotentiary to Madrid has asked to be security of any other route aoross tbo
recalled; and it is my purpose to send out isihmu3in wnicnwcmay acquire an mtercs.
a new minister to Spain, with special in- by treaty.
struetions on all questions ponding between With the independent republics on this
the two governments, and with a determi
nation to havo them speedily and amicably
adjusted, if this bo possible In tbo mean
time, whenever our minister urges tho just
claims of our citizens on iho nctico of tho
Spanisli government, he is mot with the
objection that Congress havo novcr made
tlio appropriation rccommenueu by resi
dent rolls, in Iii3 annual message oi we
comber, 1817, '! to be paid to the Spanish
government for tbo purpose of distribution
muong tic claimant,? in tho Amisluii case."
A similar recommendation was mado by
my immediato predecessor in his message
of December, 1853; and entirely concurring
with both in tho opinion that this indemnity
is justly duo under tho treaty with Spain
of the 27th October, 1795, I earnestly re
commend such an appropriation to the
favorablo considora'ion of Congress.
A treaty of fiicndship and commerce
was concluded at CoDstantinoplo on iho
13th December, 1850, between tho United
States and Persia, tho ratifications of which
were exchanged at Constantinople on the
13th Juno, 1857, and iho troaty was pro
claimed by the President on the 18tli
August, 1857. This treaty, it is believed,
will prove beneficial to American commerce.
The Shah has manifested an earnest dis
position to cubivato friendly relations with
our country, and has expressed a strong
wish that we should bo represented al
Teheran by a minister plenipotentiary;
and I recommend that an appropriation be
mado for this purposo.
Ilceont occurrences in China have been
unfavorable to a revision of tho treaty with
tint empire of tho 3d July, 1811, with a
view to the security and extension of our
commereo. Tho 21 h article of this treaty fur a revision of it, in ease ovpe
ricuco should prove this to be requisite;
" in which oaso tho two governments will,
hundred irresponsible banking institutions,.
frhich from the vory law of their nature ! crable less amount ot Fpccie, cituer in i restrain or control nuuiuer, tuoir niiorosis baying this laudablo object in view was tins ucen uouo pro mpuy, an uiiuiuiuhiu nuuo wpiuiwu w wmvo jcjm num me
will consult tho intenst of their htockhold- propoition to tlicir capital or lo their cir- must, at least, in somo degreo, ho nntago- signed at Loudon on tho 17th October, I Central America would most probably ere dato of said Convention, treat amicably
crs rather lhau tho public welfare. eulation aud deposits combined, than they i nistic. But the directors of a Uank of tho 1 jaijo, and was submitted by the President ; this havo been adjusted to tho satisfaction concerning llio same, by means of suitiblo
The framcis of tbo Consiitutij'n when did before the discovery of gold ill C lifor-i United States would feel tho samo interest i to tho Senato on tho following 10th of ' of both partie'. j persons appointed to conduct such negotia
thpv nave to Conr-resstlio nowor "to coin' Whilst ill tho yoar 1818 their specie and tbo same inclination with tho directors i December. Whether this treaty, either in Tho time spent in discussing the moaning ' tions." Theso twelve years expired on tho
? , . '., '...i . .,,! in proportion to their ciniul was in rc than of tho Stato banks to expand the currency, 'it, ni!innl or amended form, would havo of tho Clayton and Bulwer treaty would 3d July, 185G : but long beforo lhat period
luoucv auu to iciiuuiu inn vaiuu uicicui, i . ... , ..... . . . . i . . . . , .i ' .i. .. . i .i... ; . .
i.i " , ii i 1. n.,. i... - ' I cnua to ono do ar lor lour aud a nan. in i to acconnuouaio incir lavorues anu inenus nwiimn shu ,n nh net ntonde.d without 1 liavo been tiovoteu 10 una pruisuwuriuy n was sscerumcn uiai luiuuruui
! ' :..: !:,,.. . ...i!. ,..."! 1857 it docs not amount to ono dollar for , with loan", aud to declare largo dividonds. I ..ivim- birth to new and embarrassing ! purpose, and iho task would havo been I in tho treaty wrro necesary ;
'. . 1 cvorv six dollars and thirtvthrco cents of ' Such has been our experience in rceard to I rntnni;pnt;nnlirf.u'vntlm twonovRrninnnts. tho moro easily accomplished becauso tho fruitless attempts woro mado by
. i . . . . , ., , T theircanital. In tho voar 18 18 tbo specio ! the last bank. I m.v rl.fin, l. wll miesttoned. Certain interests of tho two countries in Central , missioner of tho United States
inpayments ueeia, suppose.! nicy "au I ' . .,, - ,, (,.,: , ' ...,, ,. I 1 Ti V. i"T. .7 " ' A i, ia MnnLenl. liein confined to then chants. Another effort
do adiiist tho evils of au . i, . , . , t " " j pu nu n, n, nun - .v..-...- ... . , : , ? r .,
protected the pcoii
excessive and irredcemalle paper currency.
Tliey aro not respousiblo for tho existing
anomaly that government endowed with
tho sovereign uttributo of onining money
and regulating tho valuo thereof, should
luvo no power to prevent others from
driving this coin out of tho country and
filling up tho channels of ciiculation with
paper which does not represent gold and
It is one of the highest and most rcpou-
siblo duties of government to insure to tho
and ecvenl
tho com-
to effect
wa3 about
ono dollar in fivo of their ciiculation and , patriotism aud wisdom of tho St tcs for ' objectionable by tho different amendments seeming safo transits over all the routes to bo made for tho samo purposo by our
depositos; iu 1857 it is pot equal to ono i tho prevention and redress of the evil. If ) mado to it by tho Senato. Tbo treaty, as across the Isthmus. i commissioner, in conjunction wiih. the
dollar in seven aud a half of their circuh- tbCy will offoid us a real specio basis for ' amouded, was ratified by mo on tho 12th Whilst entertaining these sentiments, 1 1 ministers of England and Franco, but this
tiou and dipositcs, our paper circulation by increasing tho 1 March, 1857, and was transmitted to ' shall noverthlcss not tcfuse to contributo was fcuspended by Iho occurrence of hosti.
From this statement it is easy lo account I denomination of bank notes, first to twenty, 1 London for ratification by tho llrilish to any reasonable adjustment of the Central lilies in the Canton river bctweon Great
'I'll it (mvurnraent exnressml A,.,n,;n nci:nn irl.ieli i nnt m-.teiicall v Britain and tho Chmcso Empiro. luoeo
. r. . . j, ' . ...... t , tn....-,.. .tit I i . . . I . . ". . . ..,lirttilili i-a li n r- n r ntinco nriltr inlnrintni1 tlifl
years, ft haa been a liulory ot cxtrava- will require that tuo nanus snail at all tunes 1 its willingness lo concur iq an iuo amcnu- consistent with the American micrpreta-, "" ...w.T- ..
gaut expansion in tho business of tl)p ' keep on hand at loast one dollar of gold and ' ments made by tho Sonatc with tho single tion of tho treaty. Overtures for this trado ot all nations wuh Canton, which is
country, followed by ruinous contractions, ' silver for cvory three dollars of their cir- exception of tho clauso relating to Uuatan purpose havo boon rccontly mado by the ' now in a stato of blockade, and havo oo
At successive intervals tho best aud mcst 1 eulation and deposits; and if they will ' and tho other islands in tho Bay of Hon- .British government in a nicndly spirit, j casioned a seriousloss of life aud property.
,i,,lnriir!sini' ninn hnvn been lemnleil to I nrnviiln bv a self.e.secntinr. cnnetmniit. dnras. Tlin artiolo in tho original treaty, irl.ieli T rnrdi.illv reeinrocato i but whether Mcanwllllo the insurrection within the
their itiin by- excessive bank loans of mero which nothing can arrest, that tho momont , as submitted to the Senate, after reciting ' this renewed effort will result in success I ' empiro against tho existing imperial dy
...... ii. .i . i .1 i.i i. u i- . -.1-1 i. . .i i. i i t it.:- :. .t.-i. :..! ... . ..... j
I .... ...... .1.1 1.1 -,1, .. .-1.- .1-.. 1.1 1 1 .!.-!!.. 1.-1.!. . . 1 . !!l InncttTktTll .rt nt 1,1 line nnrl it la rlilVim.1t in
peoplo a sound circulating medium, (hp . paper crcuit oxciung tiicui io extravagant tuey susponu tuey sunn go into j.quiuauon, ( mat incso isianus auu tiicir luuiuiuuu am not yet prcparea to express au opiuiou. ,v
amount of which ought to bo adapted' with importations of foreign goods, wild specu-1 would go far to securo us against futuro , "having been by a convention bearing data A brief period hill determine. anticipate what will bo tho result,
tho utmost possible wisdom and skill to the jutions, and ruinous aud demoralizing stock ( suspensions ot specio payments. ' tho 27th day of August, 1S50, between her , With Franco our ancient relations of I Under these circumstances, I havo doom-
wants of internal trado and foreign ox gambling. When tho crisis arrives, as Congress, in my opiuion, possess tho 1 Britannic Majesty and tho Kepublie of friendship sill continuo to exist. Tho cd it advhablo to appoint a dtsl'toguisbed
changes. If this bo either greatly abovo arrive it must, tho banks can extend no power to pass a unifurm bankrupt law ap. ! Honduras, constituted and decla;ed a fred French gpycrnmont havo, in several in-1 citizonof Pennsylvaniacnvoy extraordinary
or greatly below tlio proper standard, tho relief to tho peoplo. In a vain strugglo to pjicable to all bankiug institutions through- territory under tbo sovereignty of tho said j stances, which need not bo enumerated, I and minister plenipotentiary lo proceed lo
marketable valuo cf cvorv man's urnnpriv redeem their liabilities ill specie thoy aro nnt. thn ITnite.l Stutea. and I strnnnlir Ecpublio of Honduras." stipulated that evinced a spirit of nood will and kindness ' China, aud to avail himself of any onpor-
i property
is increased or diminished iu tho samo
proportion, aud injustico to individuals as
well as incalculable evils to tuo community
are tho consequence
Unfortunately, under tbo construction of
tho Federal Constitution, which has now
prevailed too long to bo changed, this im
portant aud delicate duty has been dissev
ered from tho coining power and viitually
trauslcrrcd to moro than fourteen hundred
Stato banks, acting independently of each
other, and rogulatiug their paper issues
almost exclusively by a regard to tho pro-
font interest of their stockholders. Exer-
....... - j- , t UUli IUW UUlll-U kJbttVU,
compelled to contiact their loans and their recommend its exercise.
This wnnld ! "tho two contracting parties do hereby , towards our country which I heartily rcci-1 tuni ies which may offer to effect changes
issuos s and at last, iu tho hour of distress, ! tnnl-n H tlm irrnversiMn nrrmnin lnw nf mutually cnaano to rccoguizo and respect, nrocato. It is notwithstanding, much to bo iu the existing treaty favorablo to Americm
when their assistance is mcst needed, thov nnM. lmnlr'a all futuro timo. tho indepeuJonco and reorettcd that two nations whose produe- eommcrce. Ho left tbo United States for
icir debtors together sink iuto iiisol eppcio payment! shall produeo its civil rights of tho said fren territory as a part of i tions aro of such a character as to invito tho placo of his destination in July last in ! idhtii in tmtineu in
tho Ilepublto ol Honduras." tho most cxtcnsiyo exchanges and frecsl the war steamer Minnesota, special rain- i " ,,, ,'
. ' .... . .. ..... - . . . - rti.- 1 1 . i ; l
and tho
I death
1 ho instinct ot sell. preservation
It it 11, la nnnni. cvcffim nf nrlrn vi ct fin t. ! wnnld tlipn nnmtifil it. In linrfnrni it dntiea TTnnn nn nvaminntmn nf tlna flnnvntinil Commercial intercourse, should Continue tO
oxpausion, raising the nominal prico nf I in such' a manner as to cscapo tbo penalty j between Great Britain and Honduras of enfono auciont and obsolete restrictions of
every article far boyond its real valuo, whon I and prcservo its lifo. tho 27tli August, 1850, it was found that, 1 trado against eacn ouior. uur
compared with the cost of similar articles I q'he cxistouco of banks aud tho circula- whilst declariug tho Hay Islands to bo "a , treaty with Franco is in this
in countries whoso circulation is wisely i tiou of bank paper are so identified with ' rco territory under tho sovereignty of tho
regulated, which has prevented ub from ' tho habits of our people, that they cannot ' republio of Honduras," it deprived that
competing in our own markets with foreign ' at this day be suddenly abolished without rcpublio of rights without which its sovder
Manufacturers, lias produced extravagant ' much immediate injury to tbo country. If c'SDly ovcr 'hem could scarcely bo said to
Our comraorcial
respcot an
i cxcoiuion from our treaties witu an oiuer
commercial nations. It jealously levies
discriminating duties both on tonnago and
on articles, tho erowth, produce, or manu-
It divided them from tho remainnts i facturo of tho one country, when arriving
liunurmuuus, uuu wHuiciutwn iuu ui wn iinn il ...iiitini- them tn t u ir flr.iininn ntn CAisb.
cisiug tho sovereign power of providing a j feet of tho largo incidental protection af. 1 Bpa0ro aud provent them from administering i "f Honduras, and gave to their inhabitaor- in vessels beloiii-ius to tho other,
paper cuirency, instead of coin, fur tho J forded to our domestic manufactures by , to tho Spirit .of wild aud reckless speculation 1 a seperate government of their own, with, Moro than fony years ago, on the Jd ot
country, tbo first duty which them banks the present reveuuo tariff. But for this by oxtravaant loans and issues thoy might . legislative, executive, aud judicial officers, March, 1815, l ougrcss passed an act o -oho
to Iho public is to keep in their vaults ' tho branches ol our manufactures composed l,; e011tinuml it. advantaro lo tha nublio. oloctcd by tbeniBelvcs. It deprived tho I fering to all nations to admit their vosscls
I i' 1 i Ml. M.t unliminl nrnilllrlinn4 ITlT.n
gUl uml silver to j of imw matciiub, the pvoductiou of our j But llis I say, after lon aud much ro
isters to China havo &ko been oppoinicil
by tho governments of Great Britain anil
1-ran co.
"Whilst our minister lias been iustrucicd
to occupy a neutral position iu reference
to tho existing hostilities at Canton, ho will
cordially co-operate with tho British aud
French ministers in all peaceful measures
to secure by treaty Emulations, those just
concessions to commerce which tho nations
of the world havo a right to expect, and
which Chiua cannot lon bo permitted to
withhold, From assurances rccoived, I
entertain no doubt (hat th" three ministers
continent it is both our duty and our
interests to cultivate tho most friendly
rcla'ions. We can never feel indifferent
to their fate, aud must always rejoice in
ihclr prosperity. Unfortunately, both for
thorn and for us, our example and advico
have lo3i much of their influence in conse-
qucuce of the lawless expeditions which
hive been httca out against eomo oi tncaa
within the limits of our country. Nothing
id belter calculated to retard our steady
material progress, or impair our character
as a nation, than the toleration of such
enterprise in violation of tho law of nations.
It is occ of the first and highest duties
of any independent Stato, in its relations
with the members of tho great fjnily of
nations, to restrain its peoplo from acts of
hostile aggression against their citizens or
subjects. Tho most cmineut writers on
public law do not hesitate to denounce such
hostile acts as robbery and murder.
Weak and fcelileStatet like ihoie of Central Ameritw,
iiny not tU-; tlicuiselvea abte tu assert mi vindicate
llu-ir ngliti. 'i'lic ciif uo-iM be far ilitTemU ifeije'
ihtiuns were env on foot within our own territories to
iii.tkc private war against a powerful nation. If uclt
expeditions wuro lilted out from abroad against any
portion ot our own country, to burn down our cltie,
niiirdcr nntl plunder our people, a ml usurp our govern
tiipnt, we should call any powi r on earth to the stride tt
accouotfor not preventing eurji enormities.
Urcr since tli-i Administration of General Vas::in .
ton, nets of Con;ros hive been in force to punitli
tcvercty the crime of selting on foot a military cxpeili
lion within the limits of Hie United States, tn propcert
troni against o nation Qr Slate with whom wo
aie at puncn. '1 tic rrccrt neutrality act of April EOih,
Hid, is but a little more lhau a collection cf precist
ingtaws. Under this act the I'reiMiMit is empowered
iu mi piny wiu i;iiui mm navy igrtu una miiui.i "ior tne
purpose of prevQntlnp the carrying on nl any .urli n
peditmn vi ftiterpilzefruin the tcrrltoriescud Jurudic
lion of the United itatee," and tlieco.Iectors ofcustoms
nre authorized ami rcjilred to detain any vessel iu
port lien there ii reason to believe iho is about id
iakf part in such lawless cntcrprims.
When it wa ilrsi rendered probable tint nn ntteniM
wo ut (I be made to get up another unlawful eipediiion
aaalrist Nicnra;ua, the Seceinry of Siate issued In
mructions to tlio mariln sand district attorney, which
were direetcd by the Secretary of War und the Navy to
im appropriate nrmy nnd navy officers, requiring ilicm
to bo vigilant, audio use their bcit ejertionB in carry
inj; inlo etlrct the provisions nl tbo act of 1818. Not
withsimdiii thee precaution, the expedition lira
escaped from our shores. Sach enterprises can i'o nn
ponthle food to the country, but have already inflicted
iiiucli injury Loth en it interests and its o ha racier.
Thpy have prfventPd peaceful emigration from tho
United Stales to tho Ptatos ot Cent In I America which
could not fall to prove highly bencf ml to nil the rar
tit3 concerned. In o pecunmrj point of vletv a!on?,
o'jr citizens hivu etiKtiiiied heavy Iofbos from t!ii
geisurc and casing of the transit route by the Sail
Junn between the two oceans.
The leader of the recent expedition was arrested nt
New Orleans, but was dlFCharseJ on gl"ig bail for his
afipe.vTar.ce in the fnsumcleni sum of to ihcuaaud
I rommend thf whole subjert to the serious attciitior
of Oougress, believin; that our duty and interest, as
well as our nallonalcharocter, require that wc bhould
adopt such measures as will bu efluctiinl iu restraining
our citiziiis from commilting such ouiraei,
I regret to Inform you that tho rresldontof I'arajuav
has lelused to Mtily the treaty between tho Umte't
titatcaand that Etalo ns n mended by the filiate, iho
signature ol which was mentioned in the message of
my predecessor to Congress ut the opninj; of In
session in L)ocemIjur,lS5J, The reasons assigned for
this rrlurtl will appear in the correejioudence livrcwitlj
It bcinj dasirablc toaucerlaiii the fitn-issof trftar
La P'-ita and its tributaries for navigation by uteiic,
the United S la ten steamer Water tVltch was sent
llillher fortliat purpose in 1853. This enterprise vran
KiicceEsfiillv carried on until February, 1W5, v-retr?
wl'lUtintho peaceful pr -ecution of ;r voyage ftp the
r.uoni r'ver, the stiamcr wan fireJ upon by a Para
cua)au fort. The Arc was returned, but as the AVater
Witch was of small torce, and no: desisneri for otfD.
siVe crjieraliom, hc retired from (tie conflict. Tlie
rreleit upon winch the atucK was farc was n decree
of tl.c I'resiaernt nf 1'ainguay of October. 1334, prohibi
ting foreign vessel of war from navigating the rivers
ofihaiMtte. A: Paraguay, however, was the owner
of but one bank of the river of that iniue.tho other
belongins to (jorrimtes. a mate of the Argentine
Conif deration, the rirht of Us government to except
that such u du'ree would M obeied ran not be ncknon I
edged Hut Hip Waur Witrh was not, properly speak
ing a vcuscl ol-w ar. r31i9 wasa smallttcamer ergajed
inn snentifiV enterprise intended fur the advantage nf
commerrial Hiates generally. Under ihebeciriuiusinn
ce, 1 ajo constrained to consider the attack upon her
ns uiiT(ntl'r;', and as calling for satisfaction irom
too rnraguayan government.
ritizens of the United States.atso, were estih.
in tara?tiay, inve nan uieir property
from them, and have otherwise been
Iiorities in an insulting and arbitrary
manner, which re-iuires redress
A demand for these purposes will be made in a film
but consriMtory spirit. This will Ihe mnic probably
be granted if the Executive shall havo authority lo uo
other menus ui the event ol a refusal. Tins U arcoid
(naly recommended.
It is minec'ssary to state in detail the nhrumi; cn
dition ol the Territory ol Kansis at he time v. mj in
fluctuation. The opposing parties then ftonl in unttilo
nrrity cclust each oilif r, nntl any accident might havo
rclihiet! .he mines c-f cl it'wnr.- lie-ide, si this
critical moment Kansas vas loll without a governor by
the retisnat-ou of Governor tiiary
Al the i imc of ihe election for delegates nn eitenijyo
OMunixitint rtisted in the Territorj . w hosn avowed
object it w,is, if need be to put down the lnwful gov
eriuuenl bv forre, and lo 'tlahhsh n povcrnment oi
llit'ironii undrtr ihe so catted Topt-ka Cimsliiution
The periiis aiiathed to this revotuii'Tiary or miration
altanifi from uttiug uuy part in the election
(in tbo I'Uh ol rdmiary prcyinus- the t irituna
i.i;.,!aiiiiulu'ip.'iU'd alaw proidin;f. tin