The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-01-06

yoD TO not much less than seventy thousand in the
whole: Well, sir, the expense will be much than
that of the last campaign Ii will cost not much short of
sixty mill ons Of dollars.
! Now, sir, what IS the condition of the money market
| at present. Last year 1t was most hourishng An
fortunate famine IN Europe created great demand for
our agricultural products. The balance of trade was in
our favor If money poured out at one end Of the sub
treasury, tpoqred in at the other But how stands the
case now! We stand now with drain both WAYS The
exchanges in favor and therefore, instead OF gold
and silver, drafts founded exports viii be RENTED
The expenses IN Mexico must be met either by remit
ances in gold and silver by drafts drawn in favor of
British merchants other capitalists there which must
be cashed here, and also transmitted abroad. Now sir,
what will be the operation OF this state OF things How
long this continued What 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 sensby below par and
stocks still lower Now, what is to be the result SO
long treasury notes are below parse long they
the cheaper medumthe end of it will be- that treasury
notes will go into the treasury, and specie out OF it.
There IS very great danger that at last your treasury will
| be drained to the bottom
| Now, SIR in this state of things, what possibly fol-
ow' great commercial criss-a great financial crisis
even, possibly suspension of the banks do not pre-
tend to deal IN the language of panic. But there is dan
ger OF all tins, OF which there was not the slightest appre
henslon at the commencement of last session AT pres
emit there is great danger The great difficulty in prosecu
may raise but money it will be difficult to get | lately
conversed with gentleman who ought TO know these
things better than myself and he supposed that forty
millions of dollars would be required, either in the shape
OF treasury notes stocks, to carry the campaign
asked at what price money could be had and the reply
was that would be at the rate OF ninety for hun
dred which would be rather more than per cent
believe.
But, sir, these not the only objections formidable
as they are. The farther you proceed, the difficulties
will increase lido The slightest chance that
tend to the realization of what is avowed the prosecl
ton OF the war is intended to accomplish. The object is
TO obtain treaty We no longer hear of conquerng a
peace, but of obtaining an honorable treaty the meaning
Of which is neither more nor less than that we are to
Obtain treaty IRON Mexco giving us cesslon Of Ian
part OF my remarks Well sir, as it strikes whether
the war successful unsuccessful must certainly
which is avowedy prosecuted II the war be unsuc
cesstul need not argue the point If we should be baf
fled in our amsas trust we will not be- and think is
not very likely TO be the casebut if circumstances should
prove unfortunate for us, and we should not be able to
accomplish, in military point of view, what is charac
erlzed as vigorous prosecution OF the war, then certain
y there will be treaty take higher ground insist
upon it, that the more successfully this is prose-
cuted the more certain will be the defeat OF the object
ed will be accomplished. How is successful war to be
carried on What is the object OF it What is it intend
ed to effect can see but one thing to be effected IT
to suppress all resistance in Mexico, overpower and
disperse her army, to overthrow her civil government
and to leave her without any further power of resistance
Well Mr. President if that be DONE what is the result
How are you TO get an honorable peace 1t takes but
one party to make wartwo parties to make peace Ii
all authority in Mexico be overthownif there be e
accomplish those objects which IT'S proclaimed this vgo
rous prosecution of the is intended to effect Sir
you are defeated by your success That will be The
should dis s9s ses Where I
onalty of Mexico Where her separate exisence WHARF,
this free republic with whom you desire to- treat Gone
We have bloed her out OF the list of nations She has be-
come mere of Individuals wthoutany political ex
time being, is transferred to Now, Mr. President this
is not only conclusion from reasoning upon this subject,
he comes with a single exception, and that mere con-
tngency not likely to take place The President has
very much the same conception Of the object of vigo
rons war as have presented He says that the great
difficulty of getting peace results from thsthat the peo-
pie of Mexico divided under factous chieftains; anil
that the cheftan in power dare not give peace because
his rival would then be able to turn him out and that
the only way to remedy this evil, and obtain treaty,
to put down the whole Of them Well, what is to be
then build up again, and establish under our power
and protection, republican form of government from the
citizens who well disposed, which he says hume
rou, and prevented from obtaining only by fear of
those military chiefs And it is with this government sir,
which is grow up under the encouragement and pro-
lection OF our army-to be established by their authority
that il is proposed to treat in order obtain peace.
must confess | am little at loss to how free
and independent republic grow up under the protec
and aso ca s 90 Sw
can readily understand how arisocracy--how a
kingly government adesposm-mghtb be established by
conqueror. But how free and independent republic
grow up under such circumstances is to incem-
prehensble had always supposed that republican gov
eminent was the spontaneous work of the peoplethat
it from the peoplerom the hearts of the people
that it supported by the hearts of the people, and
that II required support protection. from any quar-
ter whatever But, sir it that these antquaed
notons-obsolee ideas and that we may now manufac-
republics to order, by authority of conquering gov
eminent
But suppose, sir, all these difficulties surmounted-
how you make free government in Mexcos
Where your materials? 1t is to be, presume,
federated government, like our Where is the in
egence Mexico adequate to the construction of such
go vernmen That is what she has been aiming at for
twenty -odd years but so utterly incompetent are her
people for the work, that has been complete failure
from beginning to end. The great body of the ntel
gence and wealth of Mexico concenred in the priest
hood, who are altogether dsnclned to that form OF
government Then the owners of the haciendas-the
large planters of the country, who comprise almost all
mites of concert and destitute of the of forming
such government Sir such government would be
impossible; and if put up would tumble down the very
next day after protection Withdrawn
1t appears to to be far more plausible plan II ls
determined to have peace to sustain the government that
exists in Meyico rather to refrain rom putting
| it down. Let it grow up and mature Itself nave con-
yersed with several of the officers OF the armymen OF
inegence-on this subject and all agree IN the opinion
that the mere shadow OF government which now
mains at Oueretaro will have no authority whatever;
and that if we were make peace any degree con-
fornaorv to our view of what peace ought to be- the
very moment we withdraw it would all be overthrow
and what then The very country assigned TO by the
peace for indemnity must either hold deensivey
and be brought back ultimately TO the defensive line,