Weekly national intelligencer., 1848-02-05
ss2,OoO,o
100000
$4,000,
100000
S34,oOO,Oo


about 10 per cent upon gross mporatons making
sary in order realize S32 900 from the customs the
present rates duty to import less than no. 00O
in that year. How vain is the expectation of such ar
import and how utterly runous to the country if the views
of the Secretary should be realized will tho pro
phec that your exports for that year exceed hun
dred and twenty millions of dollars.
And, ask how is the balance 10 be paid The business
relations of the country bear further exhaustion. And
such import will be made, will any such amount be
received from customs Let prudent statesmen consider whe
her this time to plunge into unnecessary extravaganza
or rather should not honest efforts be for peace Let
this drain OF excessive expenditure cease and just and hon
orabe conclusion of the restore the country its right
and proper position.
Nothing will indicate public confidence and public credit
truly than the stock market in the great commercial en-
at premium of Is per cent, below par Treasury
in better demand 9s because they receivable
for duties, and thus are equal % specie.
Now sir the Secretary asks for loan for Sls 500 600,
snce however, reduced to S2 000 and already has he
increased his wants to the Committee of Ways and Means
So 900, making Sic, 000, 900. Add four millions
less than his estimate and it makes twenty millions
Sir he will want S2i 000 Pass this bill and the voun-
teer BILL and he cannot require less than S40 000
With what prospect Of he go into the money
market for such loan, any considerable portion Of it. in
the present financial and commercial condition Of the country
Such loan if required could not be Obtained at over $50
for the slOO fear could be got that for much
the money is wanted out Of the county-in Mexico. The
existing will allow such abstraction from tbe
mercial and business wants of the country.
IL loan of S20 000 900 be realized by your law, it
must be paid into the Treasury in SPECIE AMI that SPECIE
large part of it, will either 60 to Mexico England in
payment for English funds furnished by bankers there
port Of armies. All this will increase our commercial
embarrassments fearful point and render sales of
produce and mercantile engagements Of extremely limited
character
Sir the merchants Of the country but the distributing
agents Of the great producers Of the world and this
cia embarrassment experienced by them will next be
vaud eff by
and agricultural communities The want of TO adj
and transmit the produce from the interior TO the
ket decline in prices and the South and the
West producing the great staples Of the country will find in
the reduction Of prices their share of the great financial crisis
caused by supporting foreign war; and absacng for that
the necessary for the profitable exchanges Of their
products have heard prices named, which cotton and
breadsufs must go, feariuy alarming and the aggregate
reduction estimated at 5000 100000 Nothing avert
this but extraordinary demand breadstu beyond any
calculations that the wants of Europe would indicate
Next sir in the Of nActons the labor Of the
try will experience It's saddening influence Its profitable
employment will be checked or suspended and then the blow
will be felt most severely because the daily necessities Of that
class render il less able to avert the force
The contraction Of the ordinary circulating medium Of the
country is another consequence Of this abstraction Of specie
For every dollar in specie, sound specepaying banks
safely allowed 10 put into circulation four dollars bs and
these bills employed in the daily uses and payments Of the
community will be withdrawn in that ratio from circulation
loan of 100000, either in funded stocks treasury
S60 000 0O0 the specie upon which that circulation based
having thus been Withdrawn for the support Of armies in
Mexico With such contraction OF the currency il is pain
u to think what point of depression prices would go and
the consequent general and individual distress shall be
called upon endure. In Of defence the treasury
the country like its blood, would be poured like water
in Of conquest for indemnity and security, such
feeling would prevail IL them the men are not needed
have shown, for any object short Of the entire subugaon
and conquest of Mexico and the are not be obtain
ed unless at great sacrifice and utter commercial Distress ask
why pass this BILL press TO hasty and immediate de-
cision These additional troops, If into Mexico,
only be employed IN extending conquest the entire
public. Drive the Government TO dsband ITSELF and with
whom you make peace To whom you restore the
whole or any part of Mexico To whom her nationality
be entrusted and by whom il TO be maintained Take
II, and you must keep it. "How will you escape il ~
In the distracted condition Of Mexico, with population
mixed and nconguous groaning under the desposm Of mill
tory power, and changing her rulers only exchange
degradation for another with fixed principles Of govern
men degraded population far inferior to the Aztec in
sery and personage accustomed only to obey their
don cannot perhaps but be improved But incorporate
such disjontcd and degraded into limited par
tcpaon of social and political rights would be fatally
destructive to the institutions Of country. There s
moral pesence attached such people which
leprosy tina, will destroy
Lke mildewcd ear twill blight its wholesome brother" "
This supendous scheme Of suugaon scquestration and
annexaon cannot but shock the public OF the country
and rejecting men estimate the dangers before them
Tho leprous dslmen will inusc itself into the system only
10 poison and Destroy
cit cannot, and il will not to good."'
In Gods let the danger be avoided before il is too late
Our dsensons sufficient to distract the harmony Of
the country, and try institutions 10 their utmost tension
Stop this unhoy lust for conquest longer endanger the
blessings Of freedom SO sgnay own. Let discord be
driven from amongst us and the bright example OF ins
tuons restored 10 their purity, continue to shine forth for the
imitation and emulation Of all mankind.