The southern press. [volume] (Washington [D.C.]) 1850-1852, 1850-09-25
will be required to give security 1t is known
that the Barings Aspinwall &, Co.. and Corco

will be required to give security. II is known
that the Earrings, Aspinwall a. Co., and Corco-
ran & Riggs, are large holders of Government
stocks. The securities, therefore, that they will
probably give, will be the hypothecation of your
own stocks to secure these advances should they
be made and it is utterly impossible, therefore,
that the Government can run any risk in this
transaction. Besides who are the Earrings
They are already the accredited bankers of this
Government. Millions of dollars Of our money
pass through their hands every year All of our
ministers abroad are paid through the Barings !;
and through them also made our other dis
bursements in foreign countries. They have
been approved as being most able and faithful
agents of this Government The Government
has never lost dollar in any transaction with
them. On the contrary, the faith Of the Govern
ment has never failed to be redeemed while they
have been your agents for one solitary moment
There is pecu lar propriety, from the fact that
they are already our agents in other large trans
actions, that you should retain them in this
But if we are to discontinue our connection with
them, hope we will be careful in selecting the
substitute
Sir, we are not without experience in these
matters. NY friend from Tennessee will reco-
lect that in the treaty we had with Mexico for
the payment TO our citizens of a sum of money
for spoatons, we undertook to negotiate the
payment through our minister, Mr.. Shannon,
who was then the United States minister in
Mexico, and there was payment made Of near
Nv half million Of dollars, and to this hour
there is not a man in this House who can tell
where that moneyis. The money was paid and
the Mexican Government was released, but the
money neyercame into possession Ofthis Govern
ment The result was, that to preserve the faith
Iad te,, u:.t.
the public Treasury like sum for the payment
of those claims. Every dollar Of this money
had been paid by Mexico, as she alleged. but not
a dollar of it ever reached the pubic Treasury
here, nor does anybody know where it is. de-
sire particularly that the gentleman from Ohio
should explain where that money is Until
find out where it is, | shall act the part of the
burnt child, and beware how countcnance
similar course of proceedings shall not place
my hand in the furnace in which have already
had it once burnt No, sir, let the affair be con-
Quoted through the hands of responsible hou
sas and the faith Of this Government will be re-
deemed M
But the gentleman from Ohio also said, why
not make this advance to Mexico and that she
would willingly give seven per cent. for it.
Now, / undertake to say, that we cannot do
that without a new treaty is negotiated with
Mexico, and ratified by the treaty-making power
of both nations. Our present treaty requires
that this instalment Of three millions Of dollars
with intees shall be paid to the Government of
Mexico on the first day of June, 1851. That is
our obligation. BY what right can we change
the stipulatiohs of that treaty so as to make an
earlier payment and ofa less sum!
Mr. CARTIER desired permission to in
quire of the gentleman from Virginia whether
tho o,p,o no,var hv which tho made
could not change the contract?
Mr.. BAYLY. Certainly. But what was that
power' Was it the power of the President of the
United States and of Mexico alone' Not at all
it was the treaty making power Of the two Gov
ernments. Now, can Mr. Webster, Mr. Corwin
or any body else, undertake to amend this treaty
in SO material point as the time of the payment
of the money, and the amount of it
MIR. CARTIER (the floor being yielded) said
Do understand the gentleman as asserting that il
the money were once paid to the Government OF
Mexico, that government, or any part holding
under it, would not be foreclosed from demanding
payment again.
Mr.. BAYLY. My opinion is, in the contin-
gency contemplated, it would not
Mr.. CARTIER. They have no sovereignty
then?
Mr.. BAYLY. Yes, they have but that SOW.
ereignty must be exercised according to the forms
of their constitution. Now, this treaty prescrbes
regarded an essential feature, for the Senate Of
the United States struck out one mode of payment
and adopted another. Has the Administration
without consulting the Senate--has the Admins.
tration of Mexico without conforming to the pro-
visions of their constitution, the right to make
modification Of the treaty in so essential provis-
ion as the time and mode Of the payment Of the
money, and also of the amount? But suppose
they have, we know not what sort of people these
Mexicans are we know what sort Of faith they
keep. They are constantly reyoluiionizing their
government. 81 Wr
by pronunciamiento President is removed
They do not pretend TO go through the forms of an
election Now, suppose we were to pay the money
to the present President of Mexico, at discount
of seven per cent, and by the LIST of June, 1851,
he should be deposed and followed by another,
would there be no danger that we would be called
upon to pay the money second time Sir, our
pledges require that we should make payment on
the day on which it is stipulated that the money
shall be paid, and precisely on that day | hope
the money will be paid, and not day sooner or
later Then we shall have difficulty.
Now, sir, | have but one other remark to make,
and shall then close this debate. This bill is a
prec sc transcript of the bill which passed at the
last Congress, under Mr.. Folks administration,
as the gentleman from Ohio has already stated.
In preparing it, directed the clerk to get that act
and copy it and would not repeat the fact, ex-
cept mat speak lOuuer IMAM ne does, anu perhaps
what he sand not heard. When that bill was
passed was member Of Congress, and heard then
all this story and over which have been ia
vored with on this occasion. There was a dis
position then manifested to assai Mr.. Walker
about this matter. ! inquired into it +; indeed
conversed with him on the subject, with view
to the defending of the bill, if necessary, but am
glad to say he was not assailed. The gentleman
from Ohio at that time examined the matter, and
he saw nothing that Mr.. Walker had done that
was deserving Of reproach, and none was made.
In this instance, ! have looked into the matter,
and have stated the result Of my examination to
the House.
Now, if Mr.. Webster and this Wing admins
tration are undertaking, as the two gentlemen from
Ohio seem TO think, to bolster up Santa Anna at
the expense of Arsia, all have to say is, let us
do our duty, and then, when you get evidence of
any thing Of the sort, why them must apologize
for using in this House vulgar phrase, but as it
is very expressive one, and one which my friend
from Ohio will probably understand-then give
'em jessie! That is the best plan and if he can
make any thing out of it, shall not be the man
to complain, God knows.