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BY JOHN H. RICE.
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BENJ. F. BENNETT, PiUiikw.
VOL. IX.
CA88VILLE, GEO., THURSDAY, DEC. 34, 1857.
TSTO. 47.
THE PRESIDENTS MESSAGE
Fellow-Citizens of the Senate
and House of Representatives :
In obediorice to the command of the
Constitution, it has now become my du
ty “to give to Congiess information of
the state of the Union, and recommend
to their consideration such measures” as
I judge to be “necessary and expedient.”
But first, and above all, our thanks
are due to Almighty Qod for the nu
merous benefits which He has bestowed
upon this people; and our united pray
ers ought to ascend to Him that He
would continue to bless our great re
public in time to come as He has bless
ed it in time past. Since the adjourn
ment of the last Congiess our constitu
ents have enjoyed an unusual degree of.
health. The earth has yielded her fruits
abundantly, and has bountifully reward
ed the toil of the husbandman. Our
great staples have commanded high pri
ces, and, up till within a brief period,
our manufacturing, mineral, and me
chanical occupations have largely par
taken of the general prosperity. We
have possessed all the elements of ma
terial wealth in rich abundance, and yet,
notwithstanding all these advantages,
our country, in its monetary interests,is
at the present moment in a deplorable
condition. In the midst of unsurpassed
plenty in all the productions of agricul
ture, and in all the elements of national
wealth, we find our manufactures sus
pended, our public works retarded, our
private enterprises of different kir.ds a-
bandonod, and thousands of useful la
borers thrown out of employment and
reduced to want. The revenue of the
government, which is chiefly derived
from duties on imports from abroad, has
been greatly reduced, whilst the appro
priations made l>y Congress at its last
session for the current fiscal year, are
verv large in amount.
Under these circumstances a loan may
be required before the close of your pres
ent session; but this, although deeply
to be regretted, would prove to be only
a slight misfortune when compared with
tho suffering and distress prevailing a-
mong the people. With this the gov
ernment. cannot fail deeply to sympa
thize, though it may be without the
power to extend relief.
It is our duty to enquire what has
produced such unfortunate results, and
whether their recurrence can bo pre
vented. In all former revulsions the
blame might have been fairly attributed
to a variety of co-operating causes, but
not so upon tbe present occasion. It is
apparent that our existing misfortunes
have proceeded solely from our extrava
gant and vicious system of paper cur
rettcy and bank credits, exciting the peo
pio to wild speculations and gambling
in stocks. These revulsions must con
tinue to recur at successive intervals, so
long as the amount of tbe paper curren
cy and bank loans and the discounts of
tile country shall be left to tbe discre
tion of fourteen hundred irresponsible
banking institutions, which from the ve
ry law of their nature will consult tbe
interest of their stockholders rather than
the public welfare.
The framers of tbe constitution, when
they gave to Congress the power “ to
coin money and to regulate the value
thereof,” and prohibited tbe States from
coining money, emitting bills of credit,
or making anything but gold and silver
coin a tender in payment of debts, sup
posed they had protected the people a-
ga : nst the evils of an excessive and ir
redeemable currency. They are not re
sponsible for the existing anomaly that
a government endowed with tbe sover-
ereign attribute of coining money and
regulating tbe value thereof should have
no power to prevent others from driving
this coin out Of the country and filling
up the channels of circulation with pa
per which does not repiescnt gold and
silver.
It is one of the highest and most re
sponsible duties of government to insure
to the people a sound circulating medi
um, the amount of which ought to be
adapted with the utmost possible wis
dom and skill to the wants of internal
trade and foreign exchanges. If this be
either greatly above or greatly below
the proper standard, the marketable val
ue of every man’s property is increased
or diminished in the same proportion,
and injustice to individuals as well as
incalculable evils to the community are
liie consequence.
Unfortunately, under tbe construction
of the federal constitution, which has
now prevailed loo iong to bo changed,
this important and delicate duty has
been dissevered from the coining power
and virtually transferred to more than
fourteen Lundred State banks, acting in
dependently of each other, and regulat
ing their paper issues almost exclusively
by a regard to the present interest of
their stockholders. Exercising the sov
ereign power of providing a paper cur
rency, instead of coic, .for the country,
the first duty which these banks owe to
the public is to keep .in their vaults a
sufficient amount of gold and silver to
insure the convertibility of their amount
of notes into coin at all times and under
all circumstances. No bank ought ever
to be chartered without such restriction
on its business as to secure this result.
All other restrictions are comparatively
T ain. This is the only true touchstone,
the only efficient regulator of a paper
currency—the only one which can guard
tbe public against over issues and bank
suspensions. As a collateral and even
tual security it is doubtless wise, and ih
all cases ought to- be required, that banks
shall hold an amount of United States
or State securities eqnal to their notes
in circulation, and pledged for their re
demption. Hi is, however, furnishes no
adequate security against over-issues.—
Ou the contrary, it may be perveited to
inflate the currency. Indeed, it is pos
sible by this means to convert all the
debts of the United States and State
governments into banknotes, without re
ference to the specie required to redeem
them. However valuable these securi
ties may be themselves, they cannot be
converted into gold and silver at tbe
moment of pressure, as our experience
teaches, in sufficient time to prevent
bank suspensions and the depreciation
of bank notes. In England, which is to
a considerable extent a paper money
country, though vastly behind our own
in this respect, it was deemed advisable,
anterior to tbe act of Parliament of 1844,
which wisely separated tbe issue of notes
from the banking department, for the
Bank of England always to keep on
hand gold and silver equal to one-third
of its combined circulation and depos
its. If this proportion was no more
than sufficient to secure the convertibil
ity of its notes, with the whole of Great
Britain, and to some extent the conti
nent of Europe, as a fuld for its circu
lation, rendering it almost impossible
that a sudden and immediate run to a
dangerous amount should be made upon
it, the same proportion would certainly
be insufficient under otir banking sys
tem. Each of our fourteen hundred
banks has but. a limited circumference
for its circulation, and in the course of
a very few days the depositors and note
holders might demand from such a bank
a sufficient amount in specie to compel
it, to suspend, even although it had coin
in its vaults equal to one third of its im
mediate liabilities. And yet l am not
aware, with the exception of the banks
of Louisiana, that any State bank thro’-
out the Union has been required by its
chapter to keep this or any other pro
portion of gold and silver compared with
tbe amount of its combined circulation
and deposites. What has been the con
sequence? In a recent report made by
the Treasury Department on tbe condi
tion of the banks throughout the differ
ent. States, according to returns dated
nearest to January, 1857, the aggregate
amount of actual specie in their vaults
is §58.340.838, of their circulation
$214,778,822, and of their deposites
$230,351,352. Thus it appears that
these banks in the aggregate have con
siderably less than one dollar in seven
of gold and silver compared with their
circulation and deposites. It was pal
pable, therefore, that the very first pres
sure must drive them to suspension, and
deprive tbe people of a convertible cur
rency, with all its disastrous consequen
ces. It is truly wonderful that they
should have so long onntinned to pre
serve their credit, when a demand for
the payment of one-seventh of their im
mediate liabilities would have driven
them into insolvency. And this is the
condition of the banks, notwithstanding
that four hundred millions of gold from
California have flowed in upon ns with
in the last eight years, and tbe tide still
continues to flow. Indeed, such has
been the extravagance of bank credits
that th’e new banks now hold a consid-
ably less amount of specie, either in pro
portion to their capital or to their circu
lation and deposites combined, than they
did before the discovery of gold in Cali
fornia. Whilst in the year 1848 their
specie in proportion to their capital was
more than equal to one dollar for four
and a half, in 1S57 it does not amount
to one dollar for every six dollars and
thirty-three cents of their capital. In
the year 1848 the specie was equal
within a very small fraction to One dol
lar in five of their circulation and de
posites, in 1857 't is not equal to one
dollar in seven and a half of their circu
lation and deposites.
From this statement it is easy to ac
count for our financial history for the
last forty years. It lias been a history
of extravagant expansions in the busi
ness of the country, followed by ruinous
contractions. At successive intervals the
best and most enterprising men have
been tempted to their ruin by excessive
bank loans of mere paper credit, excit-
ino- them to extravagant importations of
foreign goods, wild speculations, and ru
inous and demoralizing stock gambling.
When the crisis arrives, as arrive it must,
the banks can extend no relief to tbe
people. Tn a vain striigglo to redeem
their liabilities in specie they are com
piled to contract their loans and their
issues; and at last, in the hour of dis
tress when their assistance is most need
ed, they and their debtors together sink
into insolvency.
It is .this paper system of extravagant
expansion, raising the nominal price of
every article far beyond its real value,
when compared with tlie cost of similar
articles in countries whose circulation is i
wisely regulated, which has prevented;
us from competing in our own markets
with foreign manufacturers, has produc-j
ed extravagant' importations, and has
counteracted the effect of tbe large inci-1 throughout the United States, and I
dental protection afforded to our domes
tic manufactures by tbe present revenue
tariff. But for this the branches of our
manufactures composed of raw materi
als, the production of our own country,
such as cotton, iron, and woollen fab
rics—would not only have acquired al
most exclusive possession of the home
market, but would have created for
tbemseh’es a foreign market throughout
the world.
Deplorable, however, as may be our
present financial condition; we may vet
indulge in bright homes for the future.
No other nation has ever existed which
could have endured such violent expan
sions and contractions of paper credits
without lasting injury ; yet the energies
of our population, and the spirit which
never quails before difficulties, will ena
ble us soon to recover from our present
financial embarrassments, and may even
occasion us speedily to forget the lesson
which thev have taught.
In the meantime it is the duly of the
government, by all proper means within
its power, to aid in alleviating the suf
ferings of the people occasioned by the
suspension of the banks, and fo provide
against a recurrence of the same calam
ity. Unfortunately, in either aspect of
the case, it can do but little. Thanks to
the independent treasury, the govern
nient has not suspended payment, as it
was compelled to do in 1837. It will
continue to discharge its liabilities to the
people in gold and silver. Its disburse
ments in coin will pass into circulation,
and materially assist in restoring a sound
currency. From its high credit, should
we be compelled to make a temporary
loan, it can be effected on advantageous
terms. This, however, shall, if possible,
be avoided; but if not, then the amount
shall be limited to the lowest practica
ble som.
I have, therefore, determined that
whilst no useful government works al
ready in progress shall be suspended,
new works, not already commenced,
will be postponed, if this can be done
without injury to the country. Those
necessary for its defence shall proceed
as though there had been no crisis in
our monetary affairs.
But the federal government cannot
do much to provide against a recurrence
of existing evils. Even if insurmounta
ble constitutional objections did not ex
ist against the creation of a National
Bank, this would furnish no adequate
preventive security. The history of tbe
last Bank of the United States abun
dantly proves tbe truth of this assertion.
Such a bank could not, if it would, reg
ulate the issues and credits of fourteen
hundred State banks in such- a manner
as to prevent the ruinous expansions
and contractions in our currency which
afflicted tbe country throughout the ex
istence of tbe late bank, or secure as a-
gainst future suspensions. In 1825 an
effort was made by the Bank ef England
to curtail the issues of tbe country
banks uhder tbe most favorable circum
stances. The paper currency had been
expanded to a ruinous extent, and tbe
Bank put forth all its power to contract
it in order to reduce prices and restore
the equilibrium of tbe foreign exchang
es. It accordingly commenced a system
of curtailment of it* loans and issues, in
the vain hope that the joint stock and
private banks of the kingdom would be
compelled to follow its example. It
found, however, that as it contracted
thev expanded, and at tbe end of the
process, to employ tbe language of a
verv high official authority, “ whatever
reduction of the paper circulation was
effected bv the Bank of England (in
1825) was more than made up by the
issues of the country banks.”.
But a Bank of the United States
would not if it could, restrict the issues
and loans of the State banks, because
its duty as a regulator of the currency
must often be in direct conflict with the
immediate interest of its stockholders.
If we expect one agent to restrain or
control another, their interests must, at
least in some degree, be antagonistic.—
But the directors of a Bank of the Uni
ted States would feel the same interest
and the same inclination with the di
rectors of tbe State banks to expand the
currency, to accommodate their favor
ites and friends with loans, and to de
clare large dividends. Such has been
our experience in regard to the last
bank.
After all, we must mainly rely upon
the patriotism and wisdom of the States
for tbe prevention and redress of the
evil. If they will afford us a real specie
basis for our" paper circulation by in
creasing the denomination of bauk
notes, first to twenty, and afterwards to
fifty dollars; if they will require that
the banks shall at all times keep on
hand at least one dollar of gold and sil
ver for every three dollars of their cir
culation and deposites; and if they will
provide by a self-executing enactment,
which nothing can arrest, that the mo
ment they suspend they shall go into
liquidation, I believe that such provis
ions, with a weekly publication by each
bank of a statement of if* condition,
would go far to secure us against future
suspensions of specie payments.
strongly recommend its exercise. This
would make it tlio irreversible organic
law of each bank’s existence: that a sus
pension of specie payments shall pro
duce its civil death. The instinct of
self-preservation would then compel it
to perform its duties in such a manner
as to escape the penalty and preserve its
life.
The existence of banks and tbe circu
lation of bank paper are so identified
with the habits of our people, that they
cannot at this day be suddenly abolished
without much immediate injury to the
country. If we could confine them to
their appropriate sphere, and prevent
them from administering to the spirit
of wild and reckless speculation bv ex
travagant loans and issues, they might
be continued with advantage to the
public.
But this I say, after long and much
reflection : if experience shall prove it
to bo impossible to enjoy the facilities
which, well regulated banks might af
ford, without at the same time suffering
the calamities which the excesses of the
banks have hitherto inflicted upon 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 the functions of banks
of deposite and discount.
Our relations with foreign governments
arc, upon the whole, in a satisfactory con
dition.
The diplomatic difficulties which existed
between the government of the United States
and that of Great Britain at the adjourn
ment of the last Congress have been happi
ly terminated by tbe appointment of a Brit
ish minister to this country, who has been
cordially received.
Whilst it is greatly to the interest, ns I
am convinced it is the sincere desire, of tho
governments and people of the two countries
to be on terms of intimato friendship with
each other, it has been our misfortune al
most always to have had some irritating, if
not dangerous, outstanding question with
Great Britain.
Since (lie origin of the government
we have been employed in negotiating
treaties with that power, and afterwards
in discussing their true intent and mea
ning. In this respect, the convention of
April 19, 1850, commonly called the
Clayton and Buiwer treaty, has been the
most unfortunate of ail; because the two
governments place directly opposite and
contradictory constructions upon its
first and most important article. Whilst,
in the United States, we believed that
this treaty would place both powers up
on an exact equality by the stipulation
that neither will ever ‘occupy, or fortify,
or colonize, or assume or exercise any
dominion’ over, any part of Central A-
merica, it is contended by the British
government that the true construction
of this language has left them in the
rightful possession of all that part of
Central America which was in their oc
cupancy at the date of the treaty; in faet,
that tbe treaty is a virtual recognition
on the part of the United Suites of tbe
right of Great Britain, either as owner
or protector, to the whole extensive coast
of Central America, sweeping round
from the Rio Hondo to the port and
harbor of San Juan de Nicaragua, to
gether with tbe adjacent Bay Islands,
except the comparatively small portion
of this between the Saratoon and Cape
Honduras. According to their construc
tion, the treaty does no more than sim
ply prohibit them from extending their
possessions in Central America beyond
the present limits. It is net too much
to assert, that if in the U. States the
treaty had been considered susceptible
of such a construction, it never would
have been negotiated under the authori
ty of the President, nor wonid it have
received the approbation of the Senate.
The universal conviction in the United
States was, that when onr government
consented to violate its traditional and
time honored policy, and to stipulate
with a foreign government never to oc
cupy or acquire territory in the Central
American portion of our own continent,
the consideration for this sacrifice was
that Great Britain should, in this respect
at least, be placed in the same position
with ourselves. Whilst we have no
right to doubt the sincerity of the Brit
ish government in thoir constrnction of
the treaty, it is at tbe same time my
deliberate conviction that this construe
tion is in opposition both to its letter
and its spirit.
Under tbe late administration nego
tiations were instituted between tho two
governments for the purpose, if possible,
of removing these difficulties; and a trea
ty having this laudible object in view
was signed at London on the 17th Octo-
sed its willingness to concur in all the
amendments made by the Senate with
the single exception of tbe danse rela
ting to Ruatan and the othdWdands in
the Bay of Honduras. The article in
the original treaty, as submitted to the
Senate, after reciting that these islands
and their inhabitants ‘having been by a
convention bearing date the 27tl’r day
of August, 1856, between her Britannic
Majesty and tbe republic of Honduras,
constituted and declared a free territory
under the sovereignty of the said repub
lic 6f Honduras,’ stipulated that ‘the
two contracting parties do hereby mutu
ally engage to recognise and respect in
all future time the independence and
rights of the said free territory as a part
of the republic of Honduras.’
Upon an examination of this convention
between Great Britain and Honduras of tho
27th August, 1856, it was found that, whilst
declaring the Bay Islands to he .a free ter
ritory under the sovereignty of tho republic
of Honduras,’ it deprived that republic of
rights without which its sovereignty over
them could scarcely be said to exist. It di
vided them from the remainder of Honduras,
and gave to their inhabitants a seperate gov
ernment of their own, with legislative, exe
cutive, and judicial officers, elected by tbem-
selves. It deprived the government of Hon
duras of the taxing power in every form,
and exempted the people of the islands from
the performance of military duty except for
their own exclusive defence. It also prohib
ited that republic from erecting fortifica
tions upon them for their protection—thus
leaving them open to invasion from any
quarter; and, finally, it provided .that sla
very shall not at any time hereafter be per
mitted to exist therein.’
Ibid Honduras ratified this convention,
she wonid have ratified the establishment of
a State substantially independent within
her own limits, and a State at all times sub
ject to British influence and control More
over, had the United States ratified the trea
ty with Great Britain in its original form,
we should have been bound to .to recognise
and respect in all future time’ these stipula
tions to the prejudice of Honduras Being
in direct opposition to the spirit and mean
ing of the Clayton and Buiwer treaty as un
derstood in the United States, the Senate re
jected the entire clause, and substituted in
Its stesrl a simple recognition of the sove
reign right of Honduras to these islands in
the following language: .The two contrac
ting parties do hereby mutually engage to
recognise and respect the islands of Ruatan,
Bonaco, Utila. Barbaretta, Helena, and
Morat, situate in the Bay of Honduras, as
under tbe sovereignty and as part of the
said republic of Honduras.’
Great Britain rejected this amendment,
assigning as the only reason, that the rati
fications of the convention of the 27th Au
gust, 1856, between her and Honduras, had
not been .exchanged, owing to the hesitation
of that government.’ Had this been done,
it is stated that .her Majesty's government
would have had little difficulty in agreeing
to the modification proposed by the Senate,
wbieh then would have had in effect the
same signification M the original wording.’
Whether this would have ben the effect;
whether the mere circumstance at the ex
change of the ratifications of tbe British
convention with Honduras prior in point of
time to the ratification of our treaty with
Great Britain would, .in effect,’ have had
•the same signification as the original wor
ding.’ and thus have nullified the amend
ment of the Senate, may well be doubted. It
is, perhaps, fortunate that the questidh has
never arisen.
American question which is not practically
consistent with the American interpretation
of the treaty. Overtures for this purpose
have been recently made by the British gov
ernment in a friendly spirit, wnich I cordi
ally reciprocate: but whether this renewed
tween Great Britain and the Chinese Bw*
pire. These hostilities have nenesrarily In-
terrupted the trade of all nations with Ca»:
ton, which is now in a state of blockade, ahd
have occasioned a serious loss Of life and pro
perty. Meanwhile the insurrection within
effort will result in success I am not yet pre- ! the empire against the existing imperial 4y-
pared to express an opinion. A brief period nasty still continues, and it is difficult to »■*
will determine.
With France our ancient relations of
friendship still continue to exist. The
French government have in several recent
instances which need not be enumerated, e-
vinced a spirit of good will and kindness to
wards our country which I heartily recip
rocate. It is, notwithstanding, much tn be
regretted that two nations whose produc
tions are of such a character as to invite
the most extensive exchanges and freest
commercial intercourse, should continue to
enforce anciant and obsolete restrictions of
trade against each other. Our commercial
treaty with France is in this respect an ex
tirpate what will be the result.
Under these circumftcancesi I have deem
ed it advisable tn appoint a distinguished
citizen of Pennsylvania envoy extraordina
ry and minister plenipotentiary to proceed
to China, and to avail himself of any oppor
tunities which may offer changes in tbe ex
isting treaty favorable to Americain com
merce. He left the United States for tho
place of his destinatien in July last in tin
war steamci* Minnesota. Special ministers
to China have also been appointed by the
government of Great Britain and France. •
Whilst onr minister has been instructed
to occupy a neutral position in reference to
the existing hostilities at Canton, he will
ception from our treaties with all other i
commercial nations. It jealously levies ! ocrJiatl 7 <*> operate with the British and
discriminating duties both on tonnage, and j Frcnch ministere in »•* ***** measures
on articles, tbe growth, produce, or manu- I tf > b 7 treat y eolations, those just
fnctnrc of the one country, when arriving in
eminent and people of the United States.
With all Other 2£uropo*n governments,
except that of Spain, our relations are as
peaceful as we conld desire. I regret to say
that no progress whatever has been made
since the adjournment of Congress towards
the settlement of any of the numerous claims
of our citizens against the Spanish govern
ment. Besides, the outrage committed on
oar flag by tbe Spanish war frigate Ferro
lana, ou the high seas, on the coast of Cuba,
in March, 1855. by firing into tbe American
mail steamer El Dorado, and detaining and
searching her, remains unacknowledgejl
and unredressed. The general tone arnHem
per of the Spanish government towards the
United States are ranch to be regretted.—
Our present envoy extraordinary and min
ister plenipotentiary to Madrid lias asked to
be recalled; and it is my pnrpose to send
out a new minister to Spain, with special
instructions ou all questions pending be
tween the two governments, and with a de
termination to have them speedily and ami
cably adjusted, if this be possible. In the
meantime, whenever our minister urges the
vessels belonging to the other.
More than forty years ago, on the 2d of
March, 1815, Congress passed an act offer
ing to all nations to admit their vessels la
den with their national productions into tho
ports of the United States upon the same
terms with our own vessels, provided they
would reciprocate to us similar advantages.
Tills act confined the reciprocity to the pro
ductions of tho respective foreign nations
who might cuter into the proposed arrange
ment with the United States. The act of
May 24, 1828, removed this restriction, and
offered a similar reciprocity to all such ves
sols without reference to the origin of their
cargoes. Upon these princ ; ples our com
mercial treaties and arrangements have
been founded, except with France, and let
us hope that this exception may not long
exist.
Our relations with Russia remains, as
they have ever been, on the most friendly
footing. The present Emperor, as' well as
his predecessor, have never failed, when the
occasion offered, to manifest their good will
to our country; and their friendship has al
ways been highly appreciated by tbe got in(Jep , ndeIlt State9 of Central
Amerlea. Under our treaty with New Gra
nada of the 12th December 1846, we are
bound to guaranty the neutrality of tha
Isthmus of Panama, through which the Pan
concessions to commerce which the nations
of tbe world have a right to expect, and
which China cannot long he permitted to
withhold. From assurances received, I en
tertain no doubt that the throe minister!
will act in harmonious concert to obtain
simular commercial treaties for each of the
powers they represent.
We cannot fail to feel a deep interest in
all that concerns the welfare of the inde
pendent rcpublieeon our own continent, as
well as of ttitmfire of Brazil.
Our difficutiee with New Granada, whioh
a short time since bore so threatening an
aspect, are, it is to be hoped, in a fair train
of settlement ini* wanner just and honora
ble to both^Wtfti; •
The Isthmus^ftOentral America, includ
ing that of Panama, is the great highway
between the Atlantic and Pacific, over which
a large portion of tbe commerce of tbe world
is destined to pass. The United States are
more deeply interested than any other na
tion in preserving the freedom and security
of all the communications across this istb-
must.'" ! 1th eur duty, therefore, to take oare
that tIAj shift not be interrupted either by
frotn our own country or by ware
ama railroad passes, «as well cs the rights
Wfftovereignty and property which New Gra-
'nada has and possesses over the said Terito-
ry.” This obligation is founded upon equiv
alents granted by the treaty to tho govern
ment and people of the United States.
Under those circumstances I recommend
to Congress the passage of an act authoriz
ing the President, in case of necessity, to
employ the land and naval forces of the Uni
ted States to carry into effect this guarantee
of neutrality and protection. I also recom
mend similar legislation for the seourity of
any other route across the isthmus in which
we may acquire an interest by treaty.
With the independent republics ou this
continent it is both our duty and our interest
to cultivate the most friendly relations. We
caw never feel indifferent to their fate, and
must always rejoice in their prosperity. Un
fortunately, both for them and for us, bur
example and advice have lost mueh of their
just claims of our citizens on the notice of . ...
the Spanish government, he is met with the TTtfiT* HT ”»^r
Objection that Congress has never made the
appropriation recommended by President
Polk, in hi3 annual message of December,
1847, <.to be paid to the Spanish government
The British government, immediately af- ! for the purpose of distribution among tbe
ter rejecting tbe treaty as amended, propo- \ claimants in tbe Amistad case ’" A similar
6cd to enter into a new treaty with the Uni- | recommendation was made by my immediate
tel States, similar in ail respects to the j predecessor in his message of Decernlier,
treaty which they had just refused to ratify, ■ 1353 ; and entirely concurring with both in
if the United Stales would consent to add to f the opinion that this indemnity is justly due ;
the Senate’s clear and unqualified recogni- ! under the treaty with Spain of tha 27tliofl
tiens which have fitted out against some ef
them within the limits of our country.—
Nothing is better calculated to retard our
steady materia 1 progress, our character ss
» nation, than the toleration of such enter
prises in violation of the law of nations.
It is one of the first and highest duties of
any independent State, in its relations with
[ the members of the great family of Dations,
to restrain its people from sete of hostile eg-
gr ssions against their citizens or subjects.
. i. . , ,, . i The most eminent writers on public law do
tion of the sovereignty of Honduras over the ! October, 178-j, I earnestly recctnnien.1 suclt i . .......
not hesitate to denounce such hostile acts aa
! rot bery and murder.
! Weak and feeble States, like those of Cen-
Bay Islands the following conditional stipu j an appropriation to the favorable consider
ation: .Whenever and so soon as the republic ation of Congress.
of Honduras shill have concluded and rati- 1 A treaty of friendship and commerce was
fied a treaty with Great Britain, by which ! concluded at Constantinople on the l"ih of i tral America, may not feel themselves able
Great Britain shall have ceded, and the! December, 1850, between the United States ■ to assert and vindicate their rights Tbe
republic of Honduras shall have accepted, ’ and Persia, the ratifications or which were ■ ease wonid be far different if expedition*
the said islands, subject to the previsions | exchanged at Constantinople on the 13th of , wete set on foot witoin onr own territories
and conditions contained in such treaty.* j June, 18-37, and the treaty was proclaimed to make private war against a powerful ca-
This proposition was, of course, rejected, j by the President on the' 13th August, 1857. j U° n such expeditions were fitted out
After the Senate had refused to recognise j This treaty, it is believed, will prove bene- i from abroad against any portion cf our own
the British convention with Honduras of the i fieial to American commerce The Shah has j country, to burn down our cities, murder
27th August, 1856, with full knowledge of) manifested an earnest disposition to culti-j and plunder our pcop,.e, and usurp our gov-
itscontents.it was impossible for me, nec-] vate friendly relations with our country, i eminent, we should call any power on earth
and has expressed a strong wish that wo
should be represented at Teheran by a min
istcr plenipotentiary, and I recommend that
an appropriation he made for this purpose.
Recent occurrences in China have been | force to punish severely the crime of setting
unfavorable, to a revision of the treaty with j on foot a military expedition within the
that empire of the 3d July.. 1844. with a view j liud'3 of the Unite.! States, to proceed from
may he, of maintaining the most friendly ! tQ t j, e secur jty an J extension of our com- j thence against a nation or State with whom
relations with each other, have nnfortunate-1 ujgygg The 24th article of this treaty stip- j we are at peace The present neutrality
ly concluded a treaty which they understand j for a revision of it, in case experience , act of April 20th, 1313,. is but little more
in Be uses directly opposite, the wisest course j g^jj p r0 ve this to be requisite; «.in which than a collection of pre existing laws,
i is to abrogate such a treaty by mutual con
cssarily ignorant of ‘the provisions and con
ditions’ which might be contained in a future
convention between the same parties to sanc
tion them in advance.
The fact is, that when two nations like
Great Britain and the United States,mutual
ly desirous, as they are, and I trust ever
t.i the strictest account for not preventing
such enormities
Ever since the administration of General
Washington, acts of ©ongress have been la
ber 1856, and was submitted bv the j 13 10 aDro S !lle a j =** ‘be two governments will, at tbe expi-
President to tbe Senate on tbe following 1 sent ’ aa,i t0 com ™ n J cc J inc ’' , H f tLls i »tioa of twelve years from the date of said
10th of December. Whether this trea- j done P rom P t, y’ a11 difficulties in Centra. A- , convention, treat amicably concerning the
" ,J ™•’—’'i- Bamei by means of suitable persons appoint-
form would have accomplished the ob-: ac J astea 10 lne ed to conduct snch negotiations ” These
iect intended without giving birth to! Tbe tlnie E P e “’- >“ discassmg tbe mosamg of twelve years expired on the 31 July. 1856;
J , , a . • . the Clayton Buiwer treaty would have been
new and embarrassing complications be- \ / , . . . - ,
- a P devoted to thra praiswort by purpose, and
the task would have been the more easily
accomplished because the interest of thetwo
countries in Central America is identical,
tween the two governments, may per
haps be well questioned. Certain it is,
however, it was rendered much less ob
jectionable by the different amendments . . .. ....
made to it by the Senate. The treaty, ^confined 10 tran9lt30Ter
as amended/was ratified by me on the j a0 thc roate3 acrosa the fc^ 09 ’
12th March, 1857, and was transmitted | Whilst entertaining these sentiments, I
Contrreaa. in mv opinion, possess the, —_—, . _
nower to pass a uniform bankrupt law to London for ratification by theRrttish ishallnevertheless not refnss to contnbute
applicable to all banking institutions government. That government expres- 1 to any reasonable adjustment o. the Central
but long, before that period it was ascertain
ed that important changes in tbe treaty
were necessary ; and several fruitless at-
teiaps were made by the commissioners of
the United States to effect these changes —
Another effort was about to be made for tbe
same purpose by our commissioner, ia con
junction with the ministers of England and
France, but this was suspended by the occur
rence of hostilities in the Canton river be-' directed by the Secretaries of War and tha
Un
der tbi3 act tue..FrsBiJent is empowered to
employ the laat and naval forces and the
militia .(for the purpose of preventing the
carrying on of any such expedition or en
terprise from the territories and jurisdiction
of the United States,” and the collectors of
customs are authorized and required to de
tain any vessel in port when there ia reason
to believe she is about to take part in aaeh
lawless enterprises.
When it was first rendered probable that
an attempt would be made to get up another
unlawful expedition against Nicaragua, the
Secretary of State issued instructions to the
marshals and district attorneys, which won