The examiner. [volume] (Louisville, Ky.) 1847-1849, 1848-01-22
MIR. C.ihssn's Speech.


Mr.. Calhoun avowsd that he stood where h
stood lsstwinter. He had opposed the war be
cause il was unnecessary, and might easily hay,
been svoidsd, because all its prstexts were false
and from high considerations of reason ans
policy. When declared he felt bound to sub
init, and limit as far as I've could, the evils grow
ing out Of it.
Fer this end, he proposed line policy. l
was the best, safest, cheapest. The Presiden
took another view. Congress sustained him.
The war has been prosecuted. We have con,
quered everywhere. Where are wet Is pesc,
conque red7 Have we indemnity IL treaty al
handl No, Sir, no. These things are farther
of than ever.
So much for the past now come to the
CONNIE ncement Of another campaign; and the
question is, what shall be done 7 The same
measures are proposed. II 10 still ga vigorous
prosecution Of the war" The measures are
identically the same. IL is not for conquest
that Is now as emphatcally disowned as IL was
in the FIRST instance. The object is not 10 blot
Mexico out Of the last Of nations, for the Presi-
dent is as emphatic IN the expression of his de-
sire TO maintain the nationality OF Mexico. He
cesres to see her an indepe ndent and flourish
ing community, and assigns stronx and cogent
reasons for all that. Well, sir. The question is
now, what ought to be done We are now
coming to the practical question. Shall we aim
at carrying on another vigorous campaign un-
der present circumstances
Mr.. President, haye examined the question
with care, aud repeat, that cannot support
the recommendations Of the President. There
are many and powerful reasons, stronger than
those which existed al the commence me Mt Of the
last campaign, TO justify my opposition now
The cost in money will be vastly greater.--
There is a bill for ten additional regiments now
before the Senate, and another ball providing
for twenty regiments Of volunteers, has been
reported, making in all, not less, suppose, than
twenty-five thousand troops. raising the num-
Der Of troops in the service, as, presume, the
Chairman Of the Committee on Military Affairs
can inform you Ito not much less than seventy
thousand in the whole. Well, sir, the expense
will be much more than that Of the last cam
paign. 1t will cost not much short Of sixty mil
lions OF dollars
Now, sir, what 10 the condition Of the money
market at PRESENT. Last year it was most -four
ishiug. An unfortunate famine in Europe Gre
aIed great demand for our agricultural pro-
ducts. The balance Of trade was in our favor.
II money poured outat one end oil the sub-trea.
sury, il poured in at the other. But how stands
the case nowl We stand now with drain both
ways. The exchanges are in our favor. and
therefore, Instead Of gold and silver, drafts foun
ded on exports will be RENTED. The exchanges
in Mexico must be met either by remtiances in
geld and silver, or by drafts drawn in favor Of
British merchants, or other capitalists there,
which must be csshed here, and also transmit
ted abroad. Now, sir, what will be the opera
ton of this state Of thingsi How long can this
continued Whist n the present price Of trea-
snry notes, and Of stocks in the MARKET Are
they above par No, sir. | see them quoted
below par. l understand the treasury notes
are sensibly below par, and stocks STILL lower.
Now what Is TO be the RESULT So long as trea-
suFy notes are below parse long as they are
the cheaper IneSium--the end Of il will be, that
treasury notes will 20 into the treasury aud
specie come out of il. There is very great dan
ger that at last your treasury will be drained TO
the bottom.
Now, sir, in this state Of things, what can pos.
sibly follow great commercial crisis--s
great financial criss--eyen, possibly, asupen.
sion OF the banks. l do not pretend to deal in
the language Of panic. But there is danger Of
all this, Of which there was not the slightest APP
prehenson al the CONNIE ncement Of last SEES
sion. At present, there is great danger. The
great difficulty in prosecuting your campaign
Will De 10 oo.Aln money men you may raise,
but money il will be difficult to get. | lately
conversed with a &c ntleman who ought to know
these things better than myself; aud he sup.
posed that forty millions Of dollars would be
required either in the shape Of treasury notes or
stocks, to carry on the campaign. | asked at
what price money could be had and the reply
was, that It would be at the rate Of ninety for
one hundred. which would De rather more than
seven per &c ut, believe.
But, sir, these are not the only objections
formidable Az they are. The farther you pro-
coed, the difficulties will increase. | do not
see the slightest chance that can tend to the re-
aliEation Of what II in avowed, the prosecution
OF the war is intended TO accomplish. The OBJ
ject is to obtain treaty. We no longer hear
of conquering peace, but Of obtaining an hon
orabie treaty; the meaning OF which, is neither
more nor less, than that we are TO obtain a
treaty from Mexico, giving as a cession Of land
equal to the whole indemnity already stated in
the former part Of my remarks. Well, sir, a.
| il strikes me, whether the war is successful or
unsuccessful, IL must certainly end in the de-
feat Of the object. for the attainment OF which,
Il is avowedly prosecuted. II the war be IN.
successful, need not argue the point IL we
should be baifled in our arms--as trust we will
not be, and think 10 not very likely to be the
case-but IL circumstances should prove unfor.
tunate for us, aud we should not be able to ac'
complish, in a military point Of view, what il
! characterized as vigorous prosecution OF tbs
war, then, certainly there will be no treaty.
| take higher ground insist upon il that the
more successful this war 10 prosecuted, IN,
more certain will be The defeat Of the object de-
signed TO be- accomplished, whilst the objects
disayowed will be accomplished. How is
successful war TO Be carried ont What is tn
object Of III What 10 il intended to effectl
Aue ~ h. "A. I'd il A.
suppress all resistance in Mexico, 10 overPowe
and dispense her army, TO overthrow her ciyi
government, and 20 leave her without any far
Their power Of resistance. Well, Mr.. President
il that be done, what is the RESULT How ar
YOU to get an honorable peacel II takes bu
/ one party 10 make war--two parties to max
4 peace. II all authority in Mexico be over
thrown, il there be no legitimate power wit
, whom TO negotiate, how are you to accomPlis
those objects which il is proclaimed this vigorou
prosecution Of the war 10 intended to effecti-
sir, you are defeated by your success. Ths
! will be tho clear and inevitable result. b.
what do you accomplish The very objec
: which you disavpw. For il the war should
: so prosecuted, where will be the nationality {
Mexicoi Where her separate sxistencei Wher
this free republic with whom you desire
D treat1 Gone! We have blo,ted her out Of th
list Of nations. She has become mere mass
! individuals without any political existence, az
q the sovereignty Of the country, at least for d
time being, 10 transferred to us. Now, M
u President, this is not only a conclusion fro
! reasoning upon this subject, but il 10 one
which, il understand the President Alright,
comes with single exception, and that. mel
: contingency not likely to take place. The Pres
> dent has very much the same conception Of Il
= object Of vigorous war as | have presented
n He says that the great difficulty Of gettir
peace. results from this, that the people Of Mex