Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1848-01-08


the country, pay the drafts which may be drawn upon
il and which, when paid the present state Of exchanges
will be reunited abroad But this process OF paying in Urea
notes instead of gold and silver and gold and silver how
ing out in both directions cannot continue long without
hausng ITS specie and leaving nothing TO meet the public
pendues, including those of the war; but Treasury notes
Can they under such circumstances preserve even their present
value Is there not great danger that they viii fall lower and
lower and finally involve the finances Of The Government and
the circulation Of the country in the greatest embarrassment
and difficulty
with the necessity of raising by loans near forty millions OF
commercial and financial crisis-eyen possibly suspension
hy the banks wish to create panic but there is
danger which makes great difference, in financial and
morcyel point of yew between the state OF things now and
the commencement OF the last session. Looking To the
future, is to be apprehended that not little difficulty will
have TO be encountered in raising money to meet the
The next campaign, conducted large scale which
proposed Men you may raise, but money will be found
difficult to obtain II is to be appfehended that loans
will have to be negotiated very Instantaneous terms for
the public. In the present state of things, they
worse there can be to Treasury notes They
be materially increased without ruinous depeciaon
and must be had exclusively almost entirely
o wing But at the present prices OF stocks to borrow
large will be necessary only be done at
greatly increased rate of interest the nominal amount of
stock. Ia recent conversation with gentleman well in
formed this subject he said that in his opinion, if forty
millions required, loan could not be had for more than
ninety for hundred which would be about the of
seven per cent
These formidable objections but they not the only
4 commencement
Of the last campaign hold that the avowed object for the
vigorous prosecution OF the less certain Ct being real
lied than it then and if il should fail 10 be real
ized will leave affairs in far condition than they
present. That object has been stated is to obtain
an honorable treaty. which, the language of
President will give indemnity for the pas and security for the
fuurethat is, treaty which will give cession of terri
tory not only equal present demand for indemnify but
equal to the additional demand equal to the entire expenses
tobe incurred in conducting the Campaign and guaranty
from the Government of Mexico for its faithful execution
Now Senator'S hold that whether the is successful
unsuccessu there only certainty that this object will
be accomplished but almost certainty that it will not be- If
the be unsuccessful; if should be baied, as
trust and believe they will be but if from any untoru-
nate accident such should BE- the it clear that shall
not be able TO negotiate treaty that will accomplish the OBJ
ect intended On the contrary, if the should he
ccssu almost equally certain that in that case the
Ell Object for prosecuting the vigorously will be
pshcd might take higher ground and maintain that the
successfully the prosecuted the certainly the
object ayowed 10 be accomplished will be defeated while the
objects dsavowed would certainly be accomplished
What Is the object Of vigorous prosecution of the
How it be successful but way OF making
so, and that is by suppesng all resistance the part Of
Mexco overpoWeng and dispensing her army, and utterly
ovrihrowing her Government But if that should lie done
If vigorous prosecution of the should lead that
suit how TO obtain an honorable peace With whom
shall treat for indemnity for the past and security for the
future War may be made by party but il requires two
to make peace II all authority is overthrown in Mexico,
where will be the power enter into negotiation and make
peace Our would defeat the possibility Of
king peace In that case, the would not end peace,
but in conquest not in negotiation, but in suugaion and
defeat repeat The very object you aim accomplish and
accomplish tha, which you dsavow be your intention BY
destroying the separate existence Of Mexico overhrowng her
nationality, and tong out her from the list of natcns
instead OF leaving her free republic, which the President!
has so earnestly expressed his desire to do.
II understand his message correctly, have his
hory for the conclusion to which He takes very
much the view that do how ought TO be
prosecuted vigorously and what would be its results with the
10
that remote He says that the great difficulty Of OBJ
tanning peace results from this that the people of Mexico
divided under acous chietans, and that the chief power
dare not make peace because for doing he would be dis
placed by rival He also says, that the only way
dy this evil and 70 obtain treaty put down the whole Of
them, including The IN power well the others
Well, what then Are we to stop there No. Our Cen
erals it authorized to encourage and protect the
wel-dsposed inhabitants in establishing republican govern
ment He says they numerous and prevented from
expressing their opinions and making attempt to form such
government only by fear ot those military chiefoins He
proposes, when they have thus formed government unde
the encouragement and protection of army, obair
Teace by treaty with the government thus formed which
shall give ample indemnity for the pas security thu
failure. must say am al a loss how free and indie
pendent republic can be established Mexico under tie pro
lection and authority OF it. conquerors readily under
stand how aristocacy despotc government might be
but how free republican government established
un'er such circumstances is to ncomprehensibe hac
always supposed that such must the spona
wish of the people that emanae om the heart
out support from abroad But it that these are anti
quated noonsobsolete ideas-and that free popular gov
ernments may be made under the authority and protection
q conqueror.
But suppose these difficulties surmountcd how can W,
make free Government in Mexico Where are the ma
eras II is to be, presume, confederated government
like heir former. Where is the intelligence in Mexico fo
the construction and preservation of such government
what she has been aiming at for than twenty years.
but utterly incompetent her people for the task that
has been complete failure from first to last The great body
Of the intelligence and wealth of Mexico concentrated in the
priesthood, who naturally disincncd that form of gov
eminent the residue for the part are the owners OF
the hacenda the larger planters OF the country but they
without and destitute of the Of forming such
government But if il possible establish such gov
eminent tcoud not stand without the protection Of our army
IL would fall it is withdrawn
If it be determined TO have treaty. would be far pre-
rbe course appears me- abstain from attacking
to heat with it, if indeed it be capable Of forming treaty
which Il could maintain and execute Upon that point do
not profess to have any information beyond that derived from
conversations with those who have been in Mexico hut
aIthat hear may be doubted whether we have not
already pushed what is called vigorous prosecution Of the
war; far not 10 leave sufficient power and influence
The Government TO enter into treaty which would be respect
ed when forces Withdrawn. Such know to be the
opinion Of intelligent officers They concur in thinking that
the existing Government Querearo IL il should enter into
treaty in conformity with the views expressed by the Ex-
ecuve would be overhrown. and that should be compel
led defend that portion Of Mexico which require for
demny, densvely compelled and renew the