Evansville weekly journal. [volume] (Evansville, Ind.) 184?-18??, 1848-01-20

that the men who have lost their lives would
have been more than sufficient to defend it.
So much for the past; we now come to the
commencement of another campaign; and the
question is, what shall be done? The same
measure are proposed. 1t is still "a vigorous
prosecution of the war" The measures are
identically the same. Iii not for conquest
is now as emphatically disavowed as it
was in the first instance. The object is not to
blot Mexico out of the list of nations, for the
Is as emphatic in the expression of
his desire to maintain the nationality of Mex
He desires TO see her an independent and
1ourishing community, and assigns strong and
cogent reason for all that. Well, sir, the ques- !
ton is now, what ought to be done2 We are
now coming to the practical question. Shall we
aim at carrying on another vigorous campaign
under present circumstances?
Mr.. President, | have examined the question
with care, and | repeat, that i cannot support
the recommendations of the President. There
are many and powerful reasons. stronger than
those which existed at the commencement of
the last campaign, to justify my opposition now.
The cost in money will be vastly greater
There isa bill for ten additional regiments now
before the Senate, and another bill providing
for twenty regiments of volunteers, has been
reported, making in all. not less, l suppose,
than twenty-five thousand troops, raising the
number of troops In the service, as, | presume,
the Chairman 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 campaign. 1t will cost not much
short of sixty millions of dollars.
Now, sir, what is the condition of the mon
ey market at present? Last year it was most
iourishing. An unfortunate famine in Eu-
.ooo orao 80 n .rrao+ 1oa-,l c. 80. a-..1l4.,
raj products. The balance of trade was in our
favor. II money poured out at one end of the
sub-treasury, it poured in at the other. But
how stands the case now? We stand now
with a drain both ways. The exchanges areinour
favor, and therefore, instead ofgold and silver,
drafts founded on exports will be remitted.-
The exchanges in Mexico must be met either
By remittances in gold and silver, or by drafts
drawn in favor of British merchants, or other
capitalists there, which must be cashed here,
and also transmitted abroad. Now, sir, what
will be the operations 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 par? No, sir.
| see them quoted below par. | understand
treasury notesare sensibly below par, and stocks
still lower. Now what is to be the RESULT
So long as treasury notes are below parse
long as they are the cheaper medium-the end
of it will be, that treasury notes will go into
the treasury and specie come out Oft. There
is very great danger that at last your treasury
will be drained to the bottom.
Now, sir, in this state of things, what can
possibly follow? Agreat commercial crisis
a great financial crisis-even possibly, "a suspen-
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
prehension at the commencement of last SEES
sion. At present, there is great danger. The
great difficulty In prosecuting your campaign
will be to obtain money. Men you may raise,
but money it be difficult to get. | lately con-
versed with a gentleman who ought to know
these things better than myself; and he suppos
ed that forty millions of dollars. would be re-
quired either in the shape of treasury notes Oh
stocks, to carry on the campaign. | asked al
what price money could be had; and the reply
was, that it would be at the rate of ninety fol
one hundred, which would be rather more than
seven per cent believe.
But, sir, these are not the only objections
formidable as they are. The farther you pro-
coed, the difficulties will increase. | do no
see the slightest chance that can tend to the re.
a~lization of what it is avowed, the prosecution
of the war is intended to accomplish. The OBJ
iect is to obtain a treaty. We no longer hear o
J. OOlHoCllbS u ICoON, Ou vi OUlQillillS oil lOllO
able treaty; the meaning of which, is neither
more nor less, than that we are to obtain {
treaty from Mexico, giving us accession of LAM
/ equal to the whole indemnity already stated il
the former part of my remarks. Well, sir, a
it strikes me-, whether the war is successful o
unsuccessful, it must certainly end in the de
feat of the object, for the attainment of which
it is avowedly prosecuted. If the year be un
successful, lneed not argue the point. If W,
should be baffied in our arms-asI trust we will
not be, and | think is not very likely TO be tn
case-but if circumstances should prove unfor
tunate for US, and we should not be able to &C
complish, IN military point of view, what i
= Characterised as a vigorous prosecution of tn
war, then, certainly there will be no treaty.
! take higher ground. | insist upon it that tn
] more successful this war is prosecuted, tn
more certain will be the defeat of the object de
signed to be accomplished, whilst the object
: disa vowed will be accomplished. How is
;, successful war to be carried on? What is tn
object of it? What is it intended to effect?
: can see but one thing to be effected. 1t is t
suppress all resistance in Mexico, to overpowe
{ and disperse her army; to overthrow her civ,
government and to leave her without any ia
{ Their power. of resistance. Well, MIR. Presiden
i if that be done, what is the result? How al
you to get an honorable peace? 1t takes BIT
one party to make war-two parties to max
peace. If all authority in Mexico be owe
: thrown, if there be no legitimate power wit
n whom to negotiate, how are you to accomplis
| those objects whichit is proclaimed this vigorot
prosecution Of the war is intended TO effect
: Sir, you are defeated by your success. Tn;
: will be the clear and inevitable result. Br
what do you accomplish? The very obje'
which you disavow! For if the war should /
l so prosecuted, where will be the nationality
u Mexico? Where her seperate existence? Whe
this free republic with whom YOU desire
treat? Gone! We hare blotted her out of Il
- list of nations. She has become a mere mass
= individuals without any political existence. ar
X the sovereignty of the country, at least for Il
time being, is transferred TO us. Now, M
i President, this is not only a conclusion fro
reasoning upon this subject, but it is one
which, i'll understand the President Alright,
{ comes with a single exception, and thata me
. contingency not likely to take place. The Pre-
ident has very much the same conception of Il
p objects of a vigorous war as have presente
y He says that the great difficulty of gettir
~ peace, results from this, that the people ofMe
Us leo are divided under f~actious chieftains, al
that the chieftain in power dare not give pea
m because his rival would then be able to turn hi
Id out; and that the only way TO remedy this ey