The southern press., 1850-10-01

ilas not considered the hazards ana dangers
which such course might entail on us What
If these British agents of ours wereto fail in the
I discharge Of the obligations which we thus so
u1warrantably transfer to them! What it, under
pretence of some legal process, issued at the
! s'it of some British holder Of Mexican bonds,
the funds destined for the payment of the ndenl-
nifty were arrested in the hands Of those holding
} them on our account for Mexico. Why, sir, but
, dclay OF Il few days in the remittance OF the
amount which we thus place under foreign con
trol, would be more than enough to create Il
fearful political crisis in Mexico, which might
overthrow the government, and open a door
through which I'M unscrupulous politician or
roaming outlaw would perhaps make his way to
power, and obtain the ascendency over those
whom the nation had chosen to be her rulers
And is it when that country begins to compose
herself from the shock of her late dislsiers when
her patriotic statesmen are struggling against
the anarchical efforts of her demagogues to throw
her again into trouble and confusion, when she
is on the eve Of her elections, and when the pros
| pect OF her being able to elevate to the Prcsi-
dental chair one Of her most honorable and dis
tinguished sons is so fair and so promising for
| the future posperity and greatness of that repub
| lie, that we shall lend ourselves to any scheme,
financial or otherwise, which may by possibility
enable British influence, by advancing the in
terests of some political pet, to subvcrt and
overthrow government which shows itself so
favoraby inclined toward us, and so well dis
posed to assist in healing the wounds which the
incapacity of former rulers brought us to inflict
| upon her Sir, we should have al eye to the
| relation in which we stand to that country, and
ask ourselves how we wish that history should
take charge Of our dealings with her. We are
bound in honor to afford her government every
ard thnt,
Treating themselves from their present difficult
ties. Our wish ought to be, as our policy de-
mands, that they be contented, happy, and
powerful people. They can make no progress
in social well as in political life bat that will
benefit us. Her quiet, her peace, her prosperity,
ought to be equally dear to us; and we would
certlinly be delinquent in what we owe them, if
we suffered their resources to be controlled by
hands that might, some day or other, lend them
selves to paraize their government, and through
that paralysis bring it to absolute subserviency
to the views and interests of an unscrupulous
and corrupted ambition
! But, sir, independent Of the political consI-
, derations which have thus attempted to sketch,
, in the haste and hurry of the debate so unex-
pectedly forced on me- there are other reasons
which should moderate our ardor and render us
more dstrustful as to the immediate bearing-I
which we are called upon to sanction by the
passage of this bill. I'll am well-informed, the
contract entered into by the Government with
Messrs. Barring, Brothers Il CO., of London,
allows only to the American treasury premium
OF three and a half per cent, while, from the
data furnished by the memorial presented on
behalf of Mr.. Marks, of New Orleans the Gov
ernment might have obtained, and may still OBJ
tain, four and u half, and without the least pos
siblc danger, as the Government would only
have to provide the fund in New York, where il
would be disbursed upon the receipt and full
acquittance of the Mexican minister fully en-
powered thereto. This alone would have created
u difference in favor of our treasury of upwards
of seventy thousand dollars for each term. 1t
would, besides, have been kind on our part to
have assisted Mexico in redceming her govern
mcnt from its financial difficulties, by allowing
her directly the use of her own means instead
of putting it in the power of foreign bankers to
speculate upon her necessities, and to crush her
resources under the pressure of heavy discounts
and of ruinous sacrifices. 1t would seem, in
deed, that no contract is to be obtained OF this
side of the water, aliording the advantage and
J security which these foreign bankers afford.
Mr.. DICKINSON. ! beg the honorable sem
ator's pardon; did not say anything of the
} sort. But the honorable senator may have it so
: IL IL VIII SuDScrVe his argument
} Mr. SOULE. The gentleman said that tht
Government must be left free to choose what
} ever bankers were most responsible, and mos
} able to secure the performance of tile obliga
tions which we transferred to them.
Mr. DICKINSON. What ! said was, that j
we would not run the risk of having our Gov
I erllment disgraced, the Executive should emplo,
: in this matter only houses of the very hghes
t responsibility.
! Mr.. SOULE. And who doubts it! But ar
a there no houses in this country fully competen
\ and able to afford such guarantees and respons
# bility as would relieve the Government from al
e apprehension of disgrace on account of tfei
n infidety to discharge whatever obligations thel
might assume! Sir, ii we want to avoid being
G disgraced by others, let us not begin by dis
e gracing ourselves. There can be no difficulty
|. in the way of any skilfnl banker to provide this
4 Government with the costly facilities offered
them by English agents. From table now
! before me see that the average importation Of
, bullion from Mexico to this country would Of
| itself be nearly sufficient to furnish a sufficient
capital in Mexico to satisfy eXigencies there
and it requires no unusual stretch of intellect tC
, conceive what facilities would be afforded fol
such an operation by so manageable state OF
, exchange as that prevailing in Mexico, com
mandng as it does a scale of rates never below
fourteen premium, and often above eighteen.
r Here is the amendment which | propose tc
the bill:
n "And whereas, the Governn ent of the Unit
n ed States are, by the treaty aforesaid, required
| to pay interest on both of The instalments here
] after to become due to Mexico, under the same
I the Secretary of the Treasury is hereby autho
:, lied and required to pay both of the said in
!, staments out of the moneys in the treasury
7 not otherwise appropriated, if he can obtain
such abatement as he shall deem jus. for the
J interest and exchange: And provided, That
the Mexican government can exhibit due and
sufficient authority to receive in advance the
, whole or any part of said instameuts thus re-
naming due"
n BY this amendment the United States will be
) enabled to realize profit of at least one per
{ cent over the present contract from the advance
l. of any sum which .hcy may deem fit to max,
J. upon this Mexican indemnity and the doub
i as to whether an anticipated payment can lie