The southern press., 1850-10-01

pflatiOn bilIs never pass until tI6 last moment
Of the session; and it would be unjust TO the
Government, to ourselves, and 10 Mexico TO
postpone this matter until the next session of
Congress. We might as well ask to postpone
good share OF the appropriation bill which we
passed last evening, on the ground that some
OF the amounts are not to be used until the lat
ter end of the fiscal year, and after the next
session Of Congress.
Now, | wish to say one word about Englisl,
bankers. | have myself discoursed in "a manner
which thought almost eloquent on these sub
jects in another forum, but do not propose to
do it here. These bankers are bankers for our
Government and citizens in almost all their tran
sactions abroad. The salaries of foreign minis
ters are drawn through that channel, and all
our financial transactions are usually done by
the aid Of these houses | submit, them how
much weight an argument made against British
bankers ought to have here! They are the
centre Of the commerce Of the world, and they
necessarily occupy high and commanding in
tluence over the money OF the world until COM
mercial relations are changed
But who are these British bankers against
whom the honorable senator from Louisiana dis
courses so eloquently? Why they are the Bar
ings of London, Howell a. Aspinwa, of New
York, and Cocoran q Riggs, of this city-two
American houses and one British house, all of
the highest standing and character. And now
ms to the domestic politics OF Mexico, do not
propose to say much on that head but if their
future charges shall be as frequent and rapid as
their past history indicates, they will achieve
enough without our aid or interference But,
sir, this il not the question, nor is it one that
concerns us now. We have agreed to place
certain number ofdolars in the city of Mexico
at a given time. 1t is our business to do it, and
we desire to do it according to contract. But it
is said that Great Britain controls the finances
of blexicO, and will have the control OF this
money if it is done in the usual course of busi-
ness. When was the time, pray tell, in which
she has not had control OF financial matters in
the republic of Mexico and how can legislation
change it? What boots twhethcr the money is
plid for Us by A or B. ifpaid; whether am exchange
premium Of fifteen per cent, is realized or lost
on this or the other side of the water But
again, it is said that if 6e money is in the hands
of bankers in London the creditors of Mexi-
leo can seize upon it, They cannot seize upon
it until il becomes the money of Mexico, and
then after it is paid ovet, and then if they have
proper authority, they can sieze it as well if paid
by Others as if paid by themselves. If they have
Il lien upon the property OF Mexico, they can Sc
cure it wherever they can find that property,
whether in London or elsewhere.
But, sir, until paid it is our money, and not
the money OF the British bankers; and it will be
our money until it is placed at the disposal of
Mexico by the Government. Now, how should
we proceed to place that money in the city of
Mexico? 1t will never be in London, either in
form or substance, until after it is shipped there
by Mexico herself It will be raised in Mexico
upon the bill of those who contract to place it
til, re, and the bill will be paid in London by
those who drew it. 1t would cost us per cent
to transmit the specie to Mexico, when houses
of the highest responsibility in the known world
say, &C If you give us the contract to place this
money in Mexico, we will give you 81 per cent
premium, iistead of charging you A per cent
for placing it there" And have no doubt that
they can make money by sucha contract, because
know enough of human character to be satisfied
that they would not enter into transactions Of
that kind if they could not | do not believe
that any Of them would enter into it purely from
exalted notions of patriotism and have yet to
learn that this Mr.. Marks, who is selfconsti-
tutcd agent, so far as this Government is con-
cerned, is moved entirely by consideration of
patriotism usually Judge people out OF their
own mouths, and shall so Judge his rights in
the matter before have closed my remarks, by
his own relation Of it. These bankers canmake
money out of such contract, although those
destitute of heavy and associated capital could
not. They do it by having not only these but
the control of other funds, and by the exercise
Of their financial skill, welding their funds in
such a man er as to make the transaction pro
! itable; whereas an individual, without heavy
capi al and extensive and favorable reput.,tio
as a banker could exercise no control over il
whatever, however great his skill 1t is the
business of the Executive to place the money il
| Mexico without fail, and ! commend him fol
employing those who can do it best and most
surely, whether British, American, or any Other
| bankers that are transacting business in times d
| peace, when the world is governed by commerce
and not by gunpowder. ! should blush for my
Government to see it undertaking to do bus
ness in manner calculated to bring itself into
discredt. or to violate its treaty obligations by
undertaking to make contracts with the self
constituted agents of other Governments. The
Government, 50 far rs it appears here, has done
its duty fnirly, and if it has not, | propose tc
leave it at liberty to do it hereafter. 1t was its
business to get good terms. They might pos
sbly have got shade more, and, if they are
not bound, they may do it yet and | believe q
proposition slightly better was made, and then
withdrawn, but they closed with this as they say
being on the whole the best they could get and
this gentleman, Mr.. James G. King, whom
have known for many years as an eminent
banker, and who is himself highly experienced
in these Matters says that it is the best arrange
ment the Government could make. 1t is evi-
IDENTIFY, so far as safety is concerned, just such
an arrangement as gentlemen would make in the
transaction of their own private affairs. If you
were going to purchase bill on London, whose
bill would you get! Would you go into the
street and take it from the first man you met of
whom you could obtain it at the lowest rate of
exchange! No, sir, if you regarded your credit
there, you would go to those whom you were
well satisfied would honor it when due. There
should be competition, | admit; but it should
be among those who have the ability as well as
the disposition to carry it out, and not among
those who have rot both, and sometimes neither.
This the Barings have the power to do and
were connected with the Executive Govern
mcnt, would not consent, if | wished to pre-
serve my own character or that of the Govern
ment, to set this matter afloat upon the faith of
strangers or adecnturers. and undertake 70 man.
/. a. al of