Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1848-01-27

We could not reach nby treaty with Mexico
and Mexico by refusing 10 treat simply, could
defeat lhs whole object which ", had in vsw.-
We put out Of our power aud IN her hands TO
say. when the war should terminate.
We have Tor all our vast expauditur, ofmon-
ey, Tor all the loss Of blood, and men we have
10 hing, but Military glory which the campaign
has furnished.
We cannot presume estimate the expenses
Of the campaign at less than 10000, 900 Of dol.
lars. q cannot compute the sum with any de-
gree of precision, but believe may say about
that sum- and between the sword and disease,
many thousands Of lives, probably five, six, or
seven thousand have been sacrificed; and all
this FOR nothing al all.
But it is said that the occupancy Of defensive
line would have been as expansive as the cam
Ipaigu itself. The President has assigned many
reasons fer that opinion, and lhs Secretary oi
War has done the same. | have examined
! these reasons with care. This is not the proper
occaaion to discuss them; but | must say, with
all possible Difference, they arc - my mind utter
/ terly iailaciou5. | will put the question in a
general point Of view, AID satisfy the minds oi
Senator'S that such IS the case.
Tn lin, proposed by myself, eylanliag from
the Pacific Ocean to IA. Pl5o del Nore, would
have been covered by the Calf Of California,
aad wilderness p3opl-d by hostile tribes Of In
daus; and for It's defence, nothing would have
been needed beyond few vessels of war sta
toned in the Gulf, and single regiment From
the Paso del Noue to It's moath, We can readily
estimate Ih1 amount Of force necessary for its
defence. Ii was frontier between Texas and
Mexico when Texas had not more than 1900
Of population--wilhout any standing army
whatever, and very few troops, Yet for seven
years Texas maintained that frontier line; and
that, TOO, when Mexico was far more conso ida.
ted than she is now, when her revolutions were
not so frequent, her resources in money were
much greater, and Texas her only opponent
Can any man balieve that Mexico, exhausted as
she now is-prostratod as she has bcen-delaaled
-can any man believe thai it will cost az much
10 delond that frontier as the last campaign has
cost! No, sir. | will hazard nothing in asSer-
ling that the very interest Of the money spent in
the last campaign would have secured that line;
for an indefinite period aud that the men who
have lost their lives would have been more than
sufficient 10 defend il.
So much for the past; we now come TO the
commencement Of another campaign; and the
queson is, what shall be done! The same
measures are proposed. 1t is sill vigorous
prosecution OF the war" The measures are
denlcally the sumc. It is not for conquest
thai is now us emphaticaIIy dlsowned as II was
in the first instance. The object Is not 10 blot
Mexico out of the list Of nations, for the Pr2s-
dent is emphatic in The expression of his desire
10 MAINTAIN The nationality Of Mexico. He de-.
sires to see her an Independent and Hourlshng
community, and assigns strong and cosenI rea-
sons for all that. Well, sir, the question is now,
shat ought TO be doncl We are now coming
to the practical question. Shall we aim at car
ryng on another vigorous campaign under pro
sent crclmsancesl
Mr.. President have examined this question
with care, and repeat that cannot support the
recommendations OF the President. There are
many and powerful reasons stronger than those
which existed AT the commencement OF the hast
campaign, to justify my opposition anew. The
cost in money will be vastly greater. There Is
bill for ten additional regiments now before the
Senate, and another bill providing for twenty re-
giments Of volunteers. had been rcpored ma
king in all, not less, suppose, than twenty
five thousand troops, raising the number of
troops in the service, as, presume; the Chair
man Of the Committee on Military Affairs can
inform you,-to not much less than seventy
thousand in the whole. Well, sir the expense
will be much more than that Of the last CAM
pagn. 1t twill cost not much short of sixty mil
lions Of dollars.
Now; sir, what is the condition OF the mon.
ey market at PRESENT. Last year twas most
houriShing. An unfortunate famine in Europe
created great demand for onr agricultural pro-
duets. The balance of trade was in our favor.
If money poured out at one end of the sublrea-
sury, it 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
founded on exports will be RENTED. The eX-
changes in Mexico must be met either by remit
tances in gold and silver or by drafts drawn in
favor Of British merchants, or other capitalists
there, which must be cashcd here and also lranS-
mittod abroad. Now, sir, what will be the op.
grafton of this state Of things! How long can
this continue! What is the present price of
treasury notes and of stocks in the MARKET Are
they above parl No, sir see them quoted
below par. | understand the treasury notes ara
sensibly below par and stocks still lower. Now
what is to be tho result? So long as treasury
notes are below par-so long as they are the
cheaper medum-thc end Oft will be, that lrea |
sury notes will so into the treasury and specie
come out Of it, There IS very great danger
that at last your treasury will be drained TO the
bottom.
Now, sir, in this state oflhings, what can pos
sibly follow! great commercial crisis-even
a great financial crsis-even possibly, a sus-
pension OF the banks. do not pretend to deal
in the language of panic. But there is danger
Of all this, of which there was not the slightest
apprehension at the commencement Of last Ses-
sion. Atpresent, there is great danger. The
great difficulty in prosecuting your campaign
will be to obtain money. Men you may raise,
but money it will be difficult TO GET lately con-
versed with gentleman who ought to know
L h., ,,lI