Bedford inquirer. [volume], December 18, 1857, Image 1

About Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884

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BY DAYID OVER.
PRpMfS MESSAGE.
Feliow^i- lStns °f s ena t e an A House a}
ftrtresc.ifiifivts :
la obedience to tiie command of tlio constitu
(ion, it has now beootne xny duty "to give to
CoUgres* information of the state ol tbo Union,
and recoiiintet; I to their consideration such
measures" us 1 judge to ho "ucocisary and ex
vedient."
But Grsf, and above a!', our thanks aro duo
to Almighty God for the numerous benefits
which He has bestowed upon this people; aud
our united prayers ought to ascend to iiitn that
He rould continue to bless our great republic
in time ta corne as He has blessed it iu time
past. Since the adjournment of tho lust Con
gress cur constituents have eojoyad nil unusual
degree of health. The earth has yielded her
fruits abundantly, and as bountifully rewarded
the toil of the husbandman. Our gisnt staples
have commanded high prices, r.ud, up till within
a brief period, out manufacturing, mineral, and
mechanical occupations have largely partaken
of tlj- general prosperity. We have possessed
all the elements of material wealth in rich
abundance, and yet, notwithstanding all those
advantages, our country, in its uiouetary
interests, is at the present moment iuadeplor
abie condition. Iu ilte midst of unsurpassed
plenty in ail the productiotta of agrieulturo and
in ail tue dements of national wealth, we fiud
our manufactures suspended, oar public works
retarded, tu- private enterprises of different,
kinds :ib.ind>.r;.. i, aA.d thousands of useful
laborers thrown mtttete-cmrioviaeDt cod reduced
to wattt, The Af
vi itSßrisdPfwnV'Jencid from duties on imports
from abroai. has been grea'ly reduoetl, whilst
the approfri *ri>ns made by Congress a; its las*
e— -i.'ti fur tuo current fiscal year are very large
in amount.
ITijJ..T tl esc circumstances, a lo3n may bo
required before the close of your present session
but tin's, ahhwfh deeply to be regretted, would
prove to bo Co'a slight misfortune wbeu
compared vi'h tLo suffrittg and distress pre
ve;!iug aiuocg (he people. With this the gov
k.ruiii'jf.f cannot fail deeply to sympathize,
though it may be without the power to extend
roiief.
It is our duty to inquire what has produced
such unfortunate results, and whether their
recurrence can be prevented? In all former
revulsions the Liamr! mjght hafc been fatr.j
-vS9stitesr to vatufy of CO-<i , >ortttfrrg o<rtrstf>;'
but not so upon the nresant occasion. It is ap
parent tu .t our existing ntisfortuues have nro
o""tie 1 s >!ely from oyir ext.ravagj.ot and vicious
system oi paper currency and ba*ik credits, cx
ottmg fli ; eople TO wad speculations end GAMB
ling a stocks. The: e revulsion- must continue
to- .r ,u successive intervals -o lung as the
amount of the paper currency r.nd bank loans
and discounts of the country shali be left U
tiiedi.- e'iun of fourteen hundred irresponsible
bat hing iustiintious, which tcoot *h3 very law
of their nature will Consult the interest of
their stockholders rather than the public wel
fare.
ibo framers of tjje constitution, when thay
gave to the power "to coin uinuov.
ami tc reguta'd tho value thereof,*' and prohib
ited the tir-ies from coining money, emitting
bills o! credit, or making anything but gold auo
bd.fcr com a lender in payment of debts, sup-'
jicsed they had protected the people against
the evi;s of nn excessive and liredceiuable paper
currency. They arc not responsible for tiio
wlajing aaoniuiy that a government endowed <
with i**, sovereign nUrthuto of coining tnenev
and regui-wiog the value thereof sue'iid have
no power to prevent others from dii.nug this
co:., out of the Ca.; ttrv ta , fjlJhjg U p tjjo
citsr:nei3 of circulation with paper which does
ti r < represent gold and silvr.
It ,s one t. .the ldgbest amViJiost responsible
duties of government to insure to the people a
sound circulating medium, the amount of which j
ought to be adapted with the utmost possible
wtseom and skill to th wants of internal trade !
uiiji foreign exchanges. Jf this b-- either great)y
above or greatly lelotjr the proper standard,
tue marketable value of every man's property
is increased or diminished iu tho same proportion ■
aid injustice to individuals as well as incal
culable eviis to the commuqiiy are the con
sequence. 1
Unfortunately, under the constraouon of the
federal constitution, which Las uow prevailed
too long to bo changed, this iuiportant and
dencate duty has teen dissevered from the
- ytmng power and virtually transfetred to more
rati fourteen hundred State banks, acting iu
•epetnlc-.tiy of each other, aud regulating their
paper issues almost exclusively by a regard to
'he present interest of their stockholders.— ,
the sovereign powct of providiug u
Wf ' u "' enc J> i'tsteau of eoiu, for the country,.
e ur.-.t doty which theso bauks owe to the
p.... to kr- piu their vaults a sufficient
ve >ant ot go,! ;, ud silver la insure the con
- .o.ot iol• ,r u otcs into ©oiq at all times
SIV .':; ," 1 a *' ulr -uuistance. No tank ought
on ;• (e ~ w;t Lout such restrictions
oth'e"
Tins are eouipcraliyely vain— ;
cffi .mnt ro !, id- t !! uo tcucbst<M,tf tLo on, y f
cte • * \ * i "' r * i'pr currency—the only !
j-s-ics arid l*" R "" d iLu again.t over- J
a\i eventual I As a coiiatetal {
m-1 eases ought " ' i( ' a ' o . ,! " s wiso aud
•bmil Lc' i s.n required, that baoks
S "'*= 8u
pled 'cd hr i>i a tlr U °'* B iu e "ctilaliou aud t
'-^:vx;tr;'v v Tb,s - hr
issues Oml.no . security against over
by ib ■. u CoL i m
' ■lilted States and "v
without g I IT UISUtBiaCO baUt *
' redeem them. However lu l u,red
mar be in themselves \Z V
Pteasure, M our cxpensnce teaches,
in sufficient tiuic to prevent bank cuspenoious
and the depreciation of bank notes. Iu England
f which ui a considerable extent a paper-money
country, though vastly behind our own in this
respect, it was deemed advisable, anterior to
the act ( t f Parliament of 1844, whioh wisely
separated the issue of notes from the bankiug
' department, for the liatiS of England ulwvyy
1 to Keep on band gold and silver equal to one
third of .is combined circulation oud Uepoaites.
If this proportion was no more than sufficient
! to senuro the convertibility of its notes, with
' the wiiolo of Great Britain, and to soma ex
-1 tent the continent of Europe, as a field for its
circulation, reuderiug it almost impossible that
1 a sudden and immediate run to a' dangerous
1 amount 6hould be nude upon it, thr situo pro
portion would certainly bo insufficient under
■ our banking system. Rich of our fourteen
hundred banks has but a limited circumferencQ-'
for its circulation, utd in the course of a very
1 for days the depositors and note-holders
( might demand from such a bank a sufficient
amount in specie to compel it to suspend, even
a.tsiougli it had coin iu its vauita equal to oni
tbud of its i .iinadiatc ijabiliiius. And yot I
: am not aware, with the exception of the batiks
1 ot Louisiana, t!iat any Slate bank throughout
(tie Uumn has been required by its charter to
keep this or any other proportion of gold tend
silver compared with the amount or its combined
circclntiou and deposaes. What has been the
Uoasequanee ? In a recent report mile by the
i I'reoiury Ik'pnWswKd ou the condition of the
banks throughout tue different States, according
to returns dated nearest to January, 1837, the
agnregam amount of unreal specie in their vaults
L 535,319,838, of their circulation §2 14, 778,-
. 828, and of their deposi.es $230,351, 352.
Tinu it appears that ines* banks iu the
gate have considerably less than one doiinr in
scroti of gold aud silver compared with their
circulation and depositee, it was palpable,
tbe.clore, -that tho very first pressure uiust
drive tlieu* to suspension, aud deprive the
people of a convertible curreucy witn uii its
uisastroua consequences. Iti., titiiy wonderful
that they should have so ioug coutinued to
preserve their ere in, xlit n a demand tt>r the
payment of one-seventh of their imuieaiem;
liabilities wouid inve driven t&em ium iusui-'
J veuey. And tbtaio the condition of t:*s banks, j
notwithstanding that four hundred millions of I
gold from Giiiiurui* have flowed in upon us i
within the last ctgat yeais, and the tide ""stiji;
contiauea io tiovin luuoeU, gucu b*.s been . iho i
cxtf.! vugatice of oatik "ere tliJs that the banks'
fjuw heio a eeusiaerabiy less amount of specie, i
either ta proportion to their capita; or to their j
circulation and depusit.es combined, than they j
• discovery of g id in (JaJifomia. i
'vti:.st 'u the year 1848 their specie iu proper-j
; t;on to their capital was more than equal to one ■
(lobar for four and a hai:, in 1857 it does not j
j aniouut m one dollar for every six dollars and I
j imrty- nrte cents of their capital. Iu the year \
' JB4& the specie was equal Within a very small i
fraction t > one dollar iu five of their circuiatiou '
and deposit**; in 1857 it tt Dot oquaj to one
doiiar in seven aud a half of their circulation |
and depositee.
From this statement it is easy to account for
vur financial history for the list tony years
it has been a history of extravagant expansions
in the busiuess of the country, followed by ;
ruinods contraction-*, At successive intervals !
the best utid most enterprising men have Leeu i
, 'empied to their rum by excessive bank loons j
|of mere paper crodir, egcrting them to ex- j
I ttnvagaut importations of foreign goods, wild
speculations, and ruinous and demoralizing '
stock gambling. Wnen the crisis arrive*, as!
arrive it must; the banks can extend uo relief i
to the people. In a vain struggle to icdeeni
their liabilities in sjiecio they urc compelled to j
contract their loans and their issues; and u'. I
last, in the hour distress, when their assistance .
is most needed, they mid tbeir debtors together ,
; sink into insolvency.
t It is thin paper system of extravagant ex- *
1 pension, raising the nominal price of evei} j
, article far beyond its real value, when compared I
i with the cost of similar articles in countries j
whose circulation is wisely regained, which has)
prevented ns from competing in our own}
markets with foraigu manufacturer*, has pro- j
duced extravagant importations, and has j
counteracted the effect of the large incidental j
protection afforded to our domestic mtnufsc- j
tores by the present reveuue tariff. Bat for i
this tiie brunches of our manufactures composed
Of raw materials, the production of our own 1
country—such as cotton, iron, and wooHeu !
fabric-—woull not only have acquired almost i
exclusive possession of the home market, but j
would have created for themselves a foreign [
market throughout the world.
Deplorable, hovew, a? may be our prereni
financial condition, we may yet indulge ic
bright h.<p6fi for tue future. ISo oihor nation
has ever existed which could bare endured !
euch violent ixpatjsionl ami contractions af i
pajer credit without lasting injury; yet the I
j buoyancy ot vouth, the energies of our popu
j iation, and the spirit whioh never quails before '
| difficulties, will enable us soon to recover from
our present financial embarrassment, aud iuov
even occasion us speedily to forget the lesson |
which ihsy have taught.
In the meantime it is the duty of tiic govern
ment, by ali proper means within its power, to
aid in alleviating the sufferings of ibe people
occasioned by toe suspeu9iou of the banks, and
to provide against a recurrence of the same ca
lamity. in either aspect of
the case, it can do bat little. Thanks to the
indepent treasury, the government has not sus
pended payment, as it was compelled to do iu
1837. It will continue to discharge ita liabili
ties to the people in gold aud silver. Its dis
bursements in coin will pass into circulation,
and materially assist in restoring a sound cur
rency. From its high credit, should we be
compelled to make a temporary loan, it can be
effected on advantageous terms. This, howev
er, shall, if possible, be avoided; but, if cot,
BEDFORD, PA.. FRIDAY. DECEMBER 18. 1857.
1 then the aiuount shall bo limited to 'ha lowest
practicable sum.
1 have, therefore, determined (hat whilst no
use.ul government works already ic progress
snail he suspended, new works, not already
commenced, will hi postponed, if this can bo
doua without injury to the country. Those ne-
Oasssry fur its defence shall proceed a though
there bad been no crisis in our monetarv af
fairs. '
But ths fadertl government cannot Jo much
to provide ug.iin*t a rceurreucs of existing
evils. E/en if Insurmountable constitutional
objections did not exist against lh' creation of
u National Bank, this would furnish no ade
quate preventive security. The history of the
last Bank of the United States abuodaotly
proves tho truto of this assertion. Such a
Dank could not, if it would, regulate the issues
; and credits of tourtocu hundred St ito banks in
j such a uiauner as to prevent the ruinous exp&n
--j sions and contractions in our curreucy which
I a filiated the country throughout the existence
jof the lata bank, or secure us Ugainst future
, suspension. In 1825 an effort was made bv
j the Bank of England to curtail "be Issues of
I iba country banks under the au st favorable
| circumstances. The paper currency had boon
| oxpanued to u ruinous extent, airi the Batik
| put forth ail its power to contract it in order to
, reduce prices and rostoru the equilibrium of
| ?be foreign exchanges. It accordingly ciui
| menccd a system of curtailment of it.; loans
! and issor.s, in the turn hope that the joint stock
| and private banks of the kingdom could Iw
| compelled to tflTffwJ its example, ft j
I ho waver, that as it contracted they expanded, !
ianl at the end of the process, o eiopfoy the i
j language of a very high offi.Ai authority, •
j "whatever redaction of the piper circulation
j w.vi effected by the Baukof JmgJand (in 1825)
j was more than made up b r ' tho issues of ibe
I country binks."
i But a ELhk of the I'iited Status w >aIJ not,
if it could, restrain t!i issues and loans of the
State batks, ItecausJ its duty as a regulator of
the currency must often be in direct conflict
WHO the immediate iuterdst of its stockholders.
It wc expect one agent to restrain or control
' another, their iuterests must, at least in some
degree, be antagonistic. But the directors of
Bank of the United States would feel the
sauio iuferest and the same inclination with toe
directors ol tfic State banks to expand the cur
rency, to accommodate their favorite* and
friends with loans, and to declare larrs* iKVi- I
dends. Such has been oar experience in re
gal dto the last bank. <
After all, we must mainly rely upon the
patriotism nttd wis lorn of the States tor the pre
vention and redress of the evil. If they will
afford qs a real speeie basis for cur paper cir
culation by increasing the denomination of hank
notes, lyst to twenty, atji afterwards to fifty
dollars; if they will require tint the batiks
shall at ull times keep on hand a: !ea*t. one <!■ 1-
!ar of gi Id and silver for every three dollar.-
of their ciroolaiiop and depositcs; and if thev
provide by a Reif-execnting enactment,
which uo'hing can urrest, that the nioment ihey
-uspend tliey shall go into liquidation, L be
lieve that such provisions, with a weekly i-üb
lieaiiou by each btuk of a statement of us con
ditioti, would go far to secure us ag.iin-t future
suspensions of specie payments.
Coogrcs?, in my opinion, possesses toe pow
er to pa?" a uniform bankrupt law applicable
to !1 banking institutions throughout toe Uni
te"! States, ami I strongly recommend its exer
cise. This would wake -it the irreversible or
ganic law of each batik's existence, that a sus
pension of specie payweuts shall produce i's
civil death. Tho iustiriot of self-preservation
would then compel it to perform lis duties in
such a manner as to escape the penalty and pre
serve its life.
The existence of banks and tha circulation
of bank paper aTe so identified with tho habits
of our people, that they caDUOt at this day be
suddenly abolished without much immediate
injury to the country. If we could cocfiuc
them to their appropriate sphere, and prevent
tiiem from administering to tiio spirit of wild
and reckless speculation by extravagtuu loans
and i?-ucs, they might be continued with ad
vuntage to ihe public.
'But ibis I say, after long and much reflec
tion: if experience shall prove it to bo impos
sible to enjoy tho facilities which well-regula
ted bauks might afford, without at the saute
titue suffering the calamities which the excesses
of the banks have hitherto inflicted open the
country, it would then be far the lesser evil to
deprive them altogether of the power to issue
a paper currency and confine them to tho func
tions of banks of deposits and discount.
Our relations with foreign governments are,
up<m tho whole, in a satisfactory condition.
Tho diplomatic difficulties which existed be
tween the government of the United States
and that of great Britain at the adjournment
of the last Congress have been happily termi
nated by tha appointment of a British minister
to this country, who has been cordially receiv
ed.
Whilst it is greatly to the interest, as I aui
convinced it is the sincere desire, of the gov
ernments and people of the two countries to be
ou terms of intimate friendship with each oth
er, it has .been our misfortune almost always to
have had some irritating, if not dangerous, out
standing question with Great Britain.
Since the origin- of the government we have
been employed in negotiating treaties with that
power, aud afterwards in discussing their true
intern and meaning. In this respect, the con
vention of April 19, 1850, oomruauly called
the Clayton aud Bulwer treaty, has been the
most uufortonateof all; because the two gov
ernments plaee diredly opposite aud contra
dictory constructions upon its first and most im
portant article. Whilst, in tho United States,
we believed that this treaty would place both
powers upon an exact equality by the stipula
tion that neither will ever "oocupy> or fortify,
or colonize, or aanutne or exercise any domin
ion" over, any part of Central America, it is
oont nded by the British Gofurument that the
true Coos traction of this language has left them
ia the rightfal possession of ell that portion of
Central America which was in their occupancy
it Ute date of the treaty; in fact, that tiie trea
ty ii a virtual leeognitioa on the part of tho
United States of the right of Great Britain,
i eitissr as owner or protector, to tho whole ex
j tensive coast of Central America, sweeping
J round from the Rio Hondo to tho port ami bar
i born Saa Juan do Nicaragua, together with
| the .'idjieeit Bay I-laudi, except the compata
. tivaly small portion oi this hetvcea tho Sars
: toon and Cape Honduras. According to tbeir
couitruetiou, the treaty does no more "hart
dinsly prohibit them from extending their pos
sOaiiOUs ii, Central America beyond the pres
ent limits, it U uot too much to a.-sert, that
it iu the L uited States tue treaty had been ccd
.sidtjcd Su-iceptiu.e of such a coustruction, it
never would have teen negotiated under the
autbsrity of tho Prcsidout, nor would it have
: receded the approbation of the Senate. The
u ;:Vdr-:.l conviction in the United Slates was, j
I that when our government consented to violate j
: its truditionai and time honored policv, aud to'
| supplate with a ioreigu goverumeut never to ;
i occupy or acquire territory iu the Central |
' Aui':icau potitca of .iur own coutioeut, tue j
j '""'PWerauuti for unis sacrifim, was that Ureal !
| Brkfcitt should, in this respect at lea6t, bo pia- :
I ce-4 iu tha ftttuo position with ourselves.— i
; ULt we tuvc uo right to doubt the siucerity <
British government in their const ruction |
: of the treaty, it is at the same timo uy titdibe- J
| that this consiruetioD is in op- j
, pc-itioi, both to iis lutter and its spirit. )
he .c. ius rite nam.nisi ration negotiations I
; wyie ; !-.tituted bctweea the two govcrnmout-,
| tor purpose, ,i possible, of luaioviug those ,
i aud a treaty Laving this laudable i
! objec. in view w.ts signed at Londot, on the
i< tb October, 18oS, aud was submitted by too i
- resident to the •"V-uuie on the following 10rk !
of Becenihor. tether this treatjn tiiher in j
iu original . r amended form, would have kO
- the object inteudud without giving
k-iriU to aew and cinbaruasiug complicatioiis
Ostftea the two governments, uiay perhaps be
WC a.Certain it is, however, it was'
• vnticreii uitteh L-j oiqeeiionaLle by thy differ
ent ftuiendmeuts maiie to ii by ttiu Senate.—
liieiiyaty, as amended, was laiifi J by me t m
bhe Hatch, 185,, and was transmiited t-*
L y f "lifimuitw by the British govern
' i fi'' lit!' :.ll t OXpfWb-c.u .U.Ug
uew :o coucur m nil iLo aaieuduieou uiiMie by j
the Seuate wiih inn single exjeptiou of iitc!
ela use re.ating to-Hun tan aud the other island!- j
iu the Bay of Honduras. The article iu the j
original treaty, as submitted to tiie Smote, a.* 1
ter leeitiug that these islands aud their inhab
itant* "having been b\ a convention bearing
date the 27th day of August, 1856, between
tier Britannic Majesty end the republic of
Honduras, constituted and declared n t,ee it-rri
ti iy under the sovereignty ot the said lepublto
o: Honduras," etipulated "that the two con
tracting parties tio bote by mutually engage to
recognize aud respect in air future time the •
independence ai> 2 righto of the said five ter-j
ritory as u pan of the republic of liondu- '
ran." i
Upoo au cxaininalion of this convonuoo be
tween Great JJnt.ua uua 11 , ; uuris of the -Tin
August, lboti, it was iouuu thai, wkii.-t decla
ring iiiu Bay IsHuds to be '\a fret tcriitory un
der iha sovorciguty of the republic of Hondu
ras, , it deprivoU that republic ol rights with
out which its sovereign!y over thcui could
scarcely be s aid to exist. It. divided them
from the remainder of Honduras, ai.j gave to
their inhabitants a separate governtuctu of
their owa, wild legislative, executive, and ju
dicial officers, elected by themselves. it ce
pnved the government of Honduras of the tax
ing power in every form, and cxeiurud tbe
people of the islands from the petforurauue ot
military duty except for their own exclusive da
feuce. It also prohibited that republic from
ereetiug fortifications upon them for their pro
tection—thus leaving them opeu
1 from any quarter; and, finally, it provided
[ ''that slavery shall not at any time hereafter
bo permitted to exist therein."
llad liondur-s ratified this convention, she
woubl have ratified the establishment of a State
substantially iudrpeudent within her own lim
its; otd a State at ail times subject to Briti h
itifiaTiceand control. Moreover, had the Uni
| tod Stales ratified the treaty with Great Brit
aiu in its original'form, we should have been
bouuii '-to recognise and respect ia ail future
I time" these stipulations to the prejudice of liou
! duras. Beiqg in direct opposition to tLosonit
and meauiug of the Ciaytou and Bnlwer treaty
as understood in tlio Uultcd States, the Senate
rejected the entire clause, aud substituted in its
stead a simple recognition of the eovereigu right
of Honduras to these isiauds in the following
language ': '-The two contracting parties do
hereby uiulir.'l v "agave to recognise and respect
the itdands of ivuatan, Boaaeo, L iila, Btrbaret
ta, Helena, and Mom!, situate in tbe Bay of
Honduras, an i off the coast of thy republic of
Honduras, as under the sovereignty and us part
ot the sa-.d republics of Honduras."
Great Britain rejectedl ibis amacdmeut, as
signing as tuo only reason, that thsratifications
of the convention of the 27th August, ISSG, b?.
tweeu her and Honduras, had not been ''ex
changed, owing to the Lejitation of tiutgovern
uieDi." Had this been done, it is stated that
"her Majesty's government would have had \n
tlo difficulty in agreeing to the modification pro
posed by the Senate, which then would have
had in effect the same sigaification as the orig
j inal wording." Whether this would liave been
i the effect; whether the mere circumstance of
the exchange of the ratifications of the British
conveation with Ilocdurai prior in point of time
to the ratification of our tieaty with Great Brit
ain would, "iu effect," have had "the same sig
nification as the original wording,"* and thus
have nullified the vmendmtnt of the Senate,tnay
well be doubted. It is, pfibapiij feetunset that
the queatioa has ne-cr arfcen.
' The British government, immediately if;er
rejecting the ireaty a* ainc-fideil,proposed to en
ter into a new treaty witli the United States
similar in alt respects to the treaty which they
bad just refused to ratify, if (be Uuited Stale,
would consent to ndc' U> the Senate's ciear an,
j uuqualinea recegnitjou of the sovereignty o
i Honduras over the Boy Is, and the follow cost
; ditioeal stipulation : "Whenever and „o soot
j as the republic of Honduras shaii have ecuelu
Jed aud ratified a treaty with Great Britain,bj
; wbiob Great Britaiu sua;. have ceded, and to.
j republic of Honduras sbc-lt Lave accepted, tht
■ sail islands; sujiet to (be provisions and couA
i tnus ontained in such treaty."
j i "is prop sltion wa*, of course, rejected
j After the Senate had retched to recognise tb<
i British convention with Honduras of the 27U.
j August, 1&56, with full knowledge of its con
| tents, it was impossible for me, necessarily ig
i uoraut of "the provision* anu conditioi V whi-.i
| ought contained in e, future convention betweci
| the same parties, to sanction them in advance
The tact is that when two nations like (iix-a
! BrUam uud the United States, tnutually desi
rou, as ihey are, and 1 trast ever may be, o
; maintaining the inot friendly relations witi
| each other, have unfortunately concluded a trea
iv which they understand in senses directly op
posiie, tuc wisest oca ran is to abrogate such .
treaty Ly mutual consent, and tr cemateoci
anew, tlad tL.j been done promptly, all dif
hcu'Ues in Central America would most proba
hiy ere this have been adjusted to mo satis! ao
lion o! bole pit ties. Tae lime spent iu uis
cussing the meaning cf the Cuyton and But we
treaty would bare oee.n devoted to this prawe
worthy purpose, and the task wo.J.| have bun
too more easily accomplished because the in
terest of the two comtries in Central Auienc;
Is identical, being confined to securing sul
trausito over nil tho routes across the isthmus
i\ hilst entertaining these seutimeuts, i she!
nevertheless not reiuse to contribute t<> uti v r<_u
son utile adjustment of the Central Aiueriei
questions wnieh is not practically liieousisten
with Uie American interpretation of the treaty
Overtures lor ibis purpose bav been ricemb
iri ije by toe British government in a fnendi'
spur it, wuicu 1 cordially reciprocate; hat ivbeth
er ibis renewed effort will resuil in ,-uecess
aiu not yet prepared to express en opiaiou. A
brtot period wail determine.
With France our ancient relations of frieud
u.L. oAixao u en„. xt*r fnjorb *-<rr
eru incut have in eeverai recent instances which
need not no cuamorute J, evinced a spirit of good
will and kindness towards < at oouiivy which i
heartily ree.proOate. It i>, notwithstanding,
inucij 10 ba regtetted hat two nations whose
productions are of such a character as to invite
tr.e most extrusive exchanges uud freest com
mercial intercourse', should Amiinue to enforce
unc'.enc and obsolete restrictions of trade against
each other. Uurcommercial treaty with Frauco
is in tats respect an exception trow our treaties
with ail i.the.* couuuereiji uattou?. It jealcuslv
levies discriminating duties Doth on tonnage and
ota articles, tbu growth, produce, or utauufac
lure ot ti:a one country, wheu arriving i:i ves
sels belonging to the other.
More Ulan forty years ago, on tLe3i March,
lfcls, Congress pa-ied an uci offeriug to all
nations io aomit ti.eir vessels laden with their
national productions into the pons ot the Uni-
U:ii t laics uj o;. toe tunc teriis wit 11 our owu
vessels, provoiea they would reciprocate to ua
siLiiiijr ,irvantages. This act confined the re
ciprociiy to iho productions sf thu respective '
ioreign nations who might enter into the propo
seu arrangement with ilie United States. Tue
act ot J.ay U4, removed this restriction,
and ottered a similar reciprocity to ail such ves
sois wi.Lnut reloreuco to the origin of their ear
goes. Upon these principles, cur commercial j
treaties aud urrangemunts bate been fouuieJ,
except with France; aud let us hope that ibF '
exception may cot long exist.
Our relations with Kussia remain, us they I
have ever beta, on the most fiieudlj fooiiug.— j
the present Kmpeior, us weii as has predeces
sors, have never Jaded, wheu the occasion of
tered, to manifest their good will to our coun
try; and their friendship Las always been high
ly appreciated by the government un j people j
of tLo United States.
[ ith all oiner European govercmeuLs, ex
j cept that of Spain, our relations arc us peace
; iui us we could tiesiie. 1 regret to say that
no progiess whatever Las been made, SIDCC the
| adjournment of Congress, towards the settlo
i meut of any of ihe nuuicrousnciauiis cf our cit
j izeus against the Spanish government. Bc
| tjles, the outrago committed on our flag by t|ie
I Spanish wur-trigate hcyrolana on tho high sea 3
j ofi tho coast of Uubn, in Mar oh, ls>ss, by fir
j ing into the American mail steauper KI Dorado
and detaining uud searching her, remains unac
knowledged and unredressed. The general
tone and temper of the Spanish government to
| wards that of tbe United States are uinch to bo
i#tgretied. Our present envoy extraordinary
and initiator plenipotentiary to Madrid baa ask
j ed to bo recalled; and it is my purpose to send
out a new minister to Spain, with special in
structions ou all questions pending between tbe
two governments, and with a determination to
Lave the in speedily and amicably adjusted, if
this be possible. Iu the meantime, whenever,
oar minister urges the just claims of our citi
zens on the notice of the Spanish government,
he is met with the that Coocress
have never mads the appropriation recommend
ed by i resident l'alk in his annual message of
December, 1547,"t0 bo paid to the Spanish
government for the purpose of distribution
among the claimants iu the Amistad case." A
similir reeommeudation was made by rnv im-
predecessor in his message of Dc'cem
ber, lS5b; and entirely eoucurriug with both
in the opiniaa that this indemnity is justly due
under de treaty with Spain of tho 27th Octo
ber, 1795, I earnestly recommend such an ap
propriation to the favorable consideration of
Congress.
VOL. 30, NO.. 51
f A treaty of friendsh.p and commerce wag
;concluded at Constantinople on t' jC 13:h De
cember, 1858, hetw-n the United States and
Per.). rat-hiaMons ot vvt'ich
C'i a: Constantinople oa tiie 13th June, 1857,
J t..e was proclaimed by ti. > President
believed, whi prove taaefeui t, American
commerce. I :.e Sliuk hss manifested an ea/n
--est Givncsitioa to cultivate Ui- Iy it rations
with our country, and has cxpiew l a strcog
with that Wt; should ba represented u t Tuhrran
by n minister plenipotentiary; und I tecmc
menu that na appropriation b- m.Ja f of t j, iH
purpose.
llojout c:cnrr?ncr.j in Chit a have be n nn
favorablo to a revision of the treaty i,ith that
tie pi re of the 61 July, 1044, erh a view to
tho security uud extension of- r commerce.—
lue 2ilh article of this treaty stipulated for a
; revision of it, in case experience should prove
j tb;s to U requisite; "in widen ease the tar,
1 gavernmen.a will, at ifcc expiration of twelve
years from the date of raid convent ion, treat
| amicably concerning tho same, by mear.s of
I suitable persons appointed to conduot such ne
gotiation*." These twelve years expired on
; the ou Jtny, 18o6; but long before that pcri
t od it was ascertained that important cbanream
tu3 ticaiy were necessary; and several fruit
.css attempts were made by the commissioner of
1 the l.ni'td States to effect these chances.
j Another effort was about to be made lor tins
same purpose by our commissioner, in coni'inc-
I liou with tho ministers of England and Fiance,
but :Lis wis suspended by the occurrence of
! L'.-j* .1 it-ies in the <?anton river between Great
( dud tho Chibese Emjiro. These !
I txiities have necessarily interrupted the trace
of all nations with Canton, which is now in a
; stato of blockade, and have occasioned a eeii
; ous loss c f life and property • Mean while tho
insurrection within the empire aghast the ex-
imperial Jynaaiy stiil continue*, srd : t is
difficult 10 anticipate what will be the resist.
l/ader these circumstances, 1 have deemed
it advisable to appoint B distinguished chizeu
of i enosyivnuia envoy extraordinary end min
ister p.enipob-otiary t Q proceed to China, und
to avau liuuself of any opportunities which io v
offer to effect changes in the existing trc-cty
favorable, to American commerce. Deleft tho
United States for the place of his destination
iu Jmy i.*t in the war steome- _
{. [ A c ' al .
pmcimt-lnrlfr? ,missfilo36T£ ..f <=-. rTvritam
; uud !• ranee.
i W bilst cur minister Las been instructed ti
; occupy a neutral position in reference t the
: **ttog ®aitlw at, Uaaiou, he will cordially
j o-operte wttn the British and French mins
ters in a 1 peaceful measures to secure by trea
j ty stipulations, those ju concessions to corn-
I tuerce which the nations of ihu world have a
right to expect, and which China cannot lone
be permitted to Withheld. Froui assurances
| received, I entertain no doubt that the three
j ministers will act iu harmonious conceit to ob
tain similar commercial treaties for each of the
pow.:rs thej represent.
\ e cannot tail to feel a deep interest in all
j that concern the welfare of the independent
republics on our cwu cuntiuont, a< well as ot
j the empire of Brazil.
; Our difficulties with New Gtanada, which n
■ snort time siuoe bore so threatening an aspect,
j are, it is to bo hoped, in a tair tram of seille
' ment iu a manner just und honorable to both
I parties.
j Tin; Isthmus of Central America, including
j lhat the great highway between
the .viiantio cud Pacific, over which u large
1 purtion of the commerce of the world is destined
•to pass. Ihu Uuited States are more deeply
interested thau any other nation in preserving
.the freedom and security of all the commcniea
ttoos acres® this isthmus. It is our dutv,
i therefore, to take care that they shall not be'
iiuerrupted either by invidious from our own
country or by wars between the independent
butts of Central America. Under our treaty
with New Grenada of the 12th December, 1846
we are boucd to guaranty the neutrality of the
Isthmus 0? Panama, through which the Pana-
Ima railroad passes, ''as well as the rights ,vf
sovereignty and property which Now Grenada
Uan and possesses over the said Territoty."
This obligation is founded upon equivalents
granted by the treaty to the government and
people of the- United btates.
, Under these circumstances, 1 recaiamood to
Congress the passage of an aot authorizing the
rresident, iu case of necessity, to employ tho
UDd and naval forces of the Uuited States to
"—■•y i® 4 ® effect this guarantee of neutrality
auu protection. 1 also recommend similar
legislation for the security cfouy other
across the isthmus in whicu uc mav acquire an
interest by treaty.
Vv'ith the . independent republics on this
contineut it is bote U ut duty and our interest
to cultivate the must friendly relations. Wo
can never feel indifferent to their fate, and
must always rejoice in their prosperity. Uofor
iiuiateij, both Icr them and for us, onr ex
ample aud advice have lost much of their
influence in consequence of tho lawless ex
peditious which bavo been fitted oot sguinst
some ot tiicui withm tho limits of our country.
iNothiug is better calculated to retard our
steady material progress, or impait our oharueter
us a nation, than the toleraliou of such outer
prises in violation of the law of nations.
It is one of the fiast and highest duties of .' r
imy independent Bute, in its relations with the
members of the great family of nations, to re
strain its acts, of hostile aggression
against their ,r Buhjacts. Ttie most
eminent wntets HHublio law do not hesitate
tp denounce acts as robbory and
murder.
Weak aud feeble States, like those of Cen
tral America, tnay not fed themselves able to
assert and vindicate their rights. The case
I would ne far diUeront it* expeditions were set
en fool within our own territories to make pri-
S vate war agciust a powerful naiica. if ucb