Washington telegraph., 1848-02-02

the same. have examined these reasons
with care. This Is not the proper occa.
sion TO discuss them; but must say, with
all possible Difference, They are To my mind
utterly hllaeious. will put tho question
in general point Of view, and satisfy the
minds OF Senator that such is the case.
The line proposed by myself, extending from
| the Pacific Ocean TO the faso del Nofte, would
have been covered by tho Gull Of California, aud "A
wilderness peoped I hostile tFihsa Of Indians; aud
| for Ifs defence, nalhing would have been needed
beyond few vessels Of war slationcd ia the Gulf
aud single legiment From the Paso del Noiie
To its mouth, we eau readily estimate the amnnut
OF force necessary lor IT. defence. II was from
] tier between Tekas aud Mckee, when Is3as bad
not mofe than la0tun0 Of pppulation==Niihoui
any standing army whatever, aud very few
/ troops. Yet for seven yean Texas maintained
that frontier line; aud that, TOO, when Mekea was
/ far more consolidated than she is now, when her
revolutions We're MT So irrqafnl her resources in
money were much gfcatcr, aud Texas her only
[ opponent Can any man baIayc that Mexea, rx.
hausled as she nov is--proslfaied as she has been
=-dsieaied--ean an man halieye that il WiIl cost
as much TO defend that lTaHtisf a. the last cam
/ paign has cost NosE I wi hazard nothing iu
asserting that the very lncral If tho money spent
/ In the last campaign would hate secured llal line,
/ fof m indefinite period, aud that the men who
. have lost their yea would haye been more than
sufficient to defend il
so much for the part We now come n the com.
meneemrnl Of another campaign; aud the qnes.
/ lion Is, what shall bn dlne afha same measures
arr proposed. Il still "a vigorous prosecution
Of tha war Tue measures ae idculeally the
same. II Is nul taf e1nquusl==lhal Is now rn.
plateally d,soWnrd a. Il Was IN the iifat Instance
The obleci is not ahlo, Msssa out ofthe lsi ofna.
tons fof hcrfrsdzHl emphatic Ia the ssnrrss-
ea Of he desire 10 maintain Tue nationality Of Ms1i.
co lie desires 10 see her an Independent aud nour.
ishinE community. aud assisus strong aud eagcul
reasons for aihat We'll. 81. the qur-iion Is now,
whai oughtie be Hanfl " afs now coming 10
] thu pfarural questions Shai we aim at carrying
on another vigorous campaign uadef the present
] circumstances
Z Mr. President. | have examined tbs question
with eafe, aud | fFpsst that cannot support the
recommendations If the President. There ate
many and powerful Tensoua, stronger than those
winch existed At ibf commencement ol the last
campaign, 10 ia#Hly my opposition unw. Tie
cost N money ~ be vastly Efeatci. Thsrs Is
h fer ten additional regiments now bHfafa the
I Senate, and another bll providing iortFenly tegi.
ments Of yoluutssfs, hss hasn reported, making
"a all, no, less, suppose, than twenty-five thoa-
sand Troops; faIsns lhv numhaf Of troops IN the
ssfFIee, al, pfeaHns, the Chairman Of the Com.
mliisa on Military Affairs can lnfom You.-io
not much Ices than seventy ihousand IA the whole
Well, sir thr ukp'nsa wIii be much more Than
that The Last osiupalgn. II gill co.i not much
sh0fl Of SIXTY miihons Of dalirs.
] Now; sif, what IL The condition of the money
market At present. last year Il was most lour.
shing An unfortunate famine IN Europe creh.
ted great demand for our agricultural products
I The balance Of trade was IA our favor. limonoy
poured out al ou- gnd O the sub.tfcasury, il pour.
| 81 Ia at the uihsf But how stands the case now'
We stand now with q drain both was. The or-
changes are Ia ouf favor. and therefore, Instead VI
| gold aud silver, dfals founded On exports viii be
fenited The exchanges IN Mexico must be met
eilhrf by temillanrai l gold and silver o. by drins
drawn Ia 'ayor oi British merchants, or either cap.
hi.ls there, wh irh must b. rsshrd here and also
. transmitted abroad Nuw, slf, what will be- the
operation Of ihs,iiir OF lhugs' How long can this
[ continual What !. ihc pfcsehl pncc of treasury
..Igirs aud oisiocksin ihy market Are thcy above
No, IT, ,rr them quoted below par.
understand the ifrlsuu notes seusibly below
par aud stock, still lower. Now what is 10 be- the
result 80 long a. treasury notes are below par
50 long as they arc tho cheaper medium tho end
Of Il will BE-, that Treasury notes will GO into the
treasury aud specie come out Of Z, There Is very
great dangyfhal at lasl your treasury will be dram
I ed 20 the bottom
| Now. sr, in this state of lhingH, what eau pos.
. ably lullow' A givai commercial cnsis-a great
[ financial orsis-oyon possihy a suspension OF the
banks ! DO no, pretend 10 deal IN language Of
pane, bat there Is Danger of all this, ol which
/ there was not the slightest apprehension at the
/ commencement oflil Session. Aprc.rni, there
/ Is great danger The great difficulty Ia prosecui
/ your campign sill he 10 obtain money. Men you
may RAISE but money will he difficult iogei late
| ly converted with gentleman who ought to know
/ these things better than MYSELF and he supposed
/ that forty millions Of dollars would b. required
either IN the shape Of treasury notes OF stocks 10
carry on the campaign. ! asked at what pnce
money could be had, and the reply was, that il
would be- at the rate Of ninety tor one hundred,
which would be rather mora than seven per cent
believe.
I But. sir, these are not the only objections, for.
midablc as lhoy are. The father you proceed, tho
dhicuIiics will Increase. | do not sec the slightest
chance that can tend to the realization Of what il
s nyowcl. the prosecution uf the war i Intended
. t1 accomplish The object s TO obtain a treaty
| We no longer hear Of conqucuHg peace, bat Of
obtaining nn honorable treaty, the meaning Of
which, is neither more nor less, than that We are
to obtain treaty from Mexico, giving o. accession
/ Il land equal to the whole indemnity already sia-
/ ted in the .ouncrp part of my remarks Well, sir
us itslnkcs me, whether The waf is successful or
/ unsuccessful il must certainly end IN the defeat of
| lhc object. for the attainment Of which i s ayow.
cdly prosecuted II the war be unsuccessful,
need not argue the pout II we shouldbe hiill'd
/ In our nrins--aa trust we wlll not BE-, aud think
is not very likely TO be the oasc-but Il cifcumsian.
/ acs should prove unfortunate for ", and We should
| not be able to accomplish, in military point Of
/ view. what is characterized as vigorous pfosecn'
/ ton oflbe war, then, certainly there VIII be no
treaty, / take higher ground insist upon i that
the more successfully this war h prosecuted, The
more certain will be the defeat Of the object drsgn'
ed 10 be accomplished How Is a successful war
10 be- carried ont What IS the object Of ~ what
is II intended to effect caa see but one ihng
10 be effected Il Is 10 suppress all resistance ~
Mexico to oycfpower and dIsPere her army, to
overthrow her civil government, and to leave hef
without any further power Of resistance Wei,