Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1848-02-04
CaIfansrr,,S Sneecg,

Such are the important questions before Congress
that the speeches of the leading members of bott
Houses, will be looked for with anxiety Our lin
It's will prevent Us from giving them entire, but W,
shall endeayor 10 give such parts of the most i'm
portant, as will give our readers correct idea 0
the views and arguments of their authors.
From the reputation of Mr.. Calhoun and the in
fhuence he is supposed to WELD, his views posses,
a special importance. We give extracts from hi:
speech, sufficient to show his views and position
with regard TO the present war with Mexico:
In offering defensive line lat the last session.
did it because believed that ia the first place il was
the only certain mode of terminating the war sue
cesslully. did it also because believed that it
woud be vast saving OF the sacrifice OF human
liie but above all did So because saw that any
ether line Of policy would expose US to Tremendous
evils these resolutions intended 10 guard
against Sir the President took different course
He Fecomm ended vigorous prosecution Of the war
hot for conquest-that was diSavowed-but for
the purpose OF conquerng peace; that is TO com.
pei Mexico TO sign treaty making 4 sufficient ces-
sion OF territory TO indemnify this Government botn
for the claims OF It's citizens and for the expenses
the war
Sir, opposed this policy. IopposeI It, among
other reasons, because believed that if the war
should be ever so successful there was great haz-
ard 10 at least that the object intended 10 be e.
fectcd BY it, would not be accomplished Congress
thought differently; ample provisions in men and
money were granted for carrying on the war. The
campaign has terminated. 1t has been as sccoess-
lul as the Executive Of the country could possibly
have expected. Victory after victory has o Vowed
in succession without single reverse. Scnta An
ma was repealed and defeated with all his forces
Vera Cruz and the castle with it, the hejghths OF
Cerro Gordo and the castle of Peroe, and after two
great triumphs of ouE army, the gates Of Mcx,co
opened 10 US
Well, sir what has been accomplished? What
has been done Has the avoWed object of the war
been attained Have we conquered peace! Have
we obtained treaty! Have we obtained any in
demnity2 No, sir not single object contemplated
has been effected, and what is worse Mr. President.
our difficulties are greater now than they were then.
and the objects forsooth mere difficult 10 reach than
hey were before the campaign commenced
Mr.. President, have examined this question
with care, and | repeat, that cannot support the
Recommendations OF the President There are ma
ny and powerful reasons, stronger than those which
existed at the commencement of the last campaign
70 Justify nv opposition now. The cost in money
will be vastly greater There is bill for ten addi-
tonal regiments now before the Senate and another
bill providing Tor twenty regiments Of volunteers
has been reported making IN ali not less suppose
than twenty-five thousand troops, raising the num-
her OF troops IN tie ser'ce-as presume the COM
mttee on military affairs by lis chairman. eau in
form you-to not much less than seventy thousand
in the whole. Well SIT, the expense will be much
more than that Of the last campaign 1t will not
cost much short OF sixty millions OF dollars.
Now sir, what is the condition Of the money
market at present Last year twas most flourish
ing. An unfortunate famine in Europe created a
great demand for our agricultural produce. The
balance Of trade was in our assos Ii money pour
ed out at end OF the subtreasury, it poured in
at the other. Bu, how stands the case now We
stand now with drain both wavs The exchanges
are in favor and therefore. instead of gold aud
silver drafts founded exports viii be RENTED,
The exchanges in Mexico must be met either by
remit;ances in gold and silver or by drafts drawn
in favor OF British merchants or other capitalists
here, which must be clshcd here and also transmit
led abroad. Now, sir. what viii he the operation
Of this state of things How long can this coUt,n-
ne What is the present price OF treasury notes
and OF stocks in the market! Are they above par7
No, sir. | see them quoted below par. ! undcr-
deIsand the treasury notes are senSbIY below par
auc stock still lower. Now what is TO be the ge-
suit! 50 long as treasury notes are below par 50
long as IteF are the Clltt tiIltli Inc emu OF II NlI
be- that the treasury notes will 90 into the treasury
and specie come out of II. There Is very great
danger that at last your treasury Will he drained to
tic bottom.
Now, ST. in this state Of things, what posi-
bly, follow 4 great commercial cflsis---a great
financial crjsis-even possibly. suspension OF TIC
banks do not pretend to deal in the language OF
psnic But there is danger OF all this OF which
there was not the slightest apprehension at the com
mencement Of last session. At present there is
great danger. The great difficulty in prosecuting
your campaign vii be 70 obtain money. Men you
may raise, but money it will be difficult to get |
lately conYersed with a gentleman who ought 10
know these things better than myself and be sup
posed that forty millions OF dollars would be re
CURED either in the shape OF treasury notes or
stocks 10 carry on the campaign ! asked at what
price money could be had and the reply was that
II would be at the rate of ninety for one hundred
which would be rather more than seven per cent,
believe
UTTERLY protest against this government under.
taking 10 build uDapy government in Mexico with
tie p!edge Of protection The party placed in pow
or must be inevitably overthronn ana we will be
under the solemn obligation to return and reinsae
them in power and that would occur again and
again. till the country would ial into our hands
precisely as Hindostan fell into the hands of the
English The very corquest Of IliStostan which