The daily union. [volume] (Washington [D.C.]) 1845-1857, 1856-11-08
From u. New You Journal Of Commerce.

From the New YOrk Journal Of Commerce
mn EYpEoTRD BLOCKADE OF MEXICAN PORTS
Whu Lord Pamsrston several years ago, declared TO
cha House Of Commons that the government OF Great Brit
III concerned itself to protect the interests Of British sub
cs preiudiosd by delinquency the part OF foreign
States to respond TO their pecunary obligations and threat
d Spain with the power of England 70 coerce respect
for the claims Of holders OF Spanish bonds the world was
clarified with the pretensons Of the minister and awoke 10
new view Of the sanction then first attempted 10 DC attach
"A 70 securities The loanng Of money TO par
ties the jurisdiction OF the nation TO which the lender
owed allegiance had been previously looked upon as a
transaction OF private nature all the risks Of which were
sumsd by the capitalists whether the borrower the
government or subject OF another State. The varying
on which the money advanced understood TO
h. in consideration OF the hazard thought TO be
cprrd The purchased brought less than
mar and the small great as the confidence or
drus OF the lender in the soyency and faith OF the party
king accommodation determined the value of the risk
The credit OF States varied like that Of individuals and
their securities sold the exchanges OF Europe al
rcs graduated the public estimate Of their necessities
their resources and the stability of their institutions But
he Pamerston Interpretation Of national rights and OBJ
legations and of the respect due to individual claims were
70 be admitted and established part OF the recognised
law Of nations difference in value of the various GER
,j6cates of national obligation would be very much di-
become only question of time. The doctrine newly an
pouuced attracted much attention in this country in view
of possible extension of its application hither The am
pe revenue of the United States had put the central
Of the conderacy far above the reproach oil
deacaton But several of the individual States yielding
to the fatal facility of credit had Hconed money out OF
that crucble called debt rapidly and to such an extent
in anticipation of their aocruing income as to have lar
outsrpped all present of fulfilling their contracts
and If the principle asserted by the British Foreign Sece-
tary were to prevail it became only question OF expe-
dency whether the British government should exact IN
demnty in behalf Of its subjects who might be creditors
of the deaung States by reprisas on the property and
commerce Of the delinquent soveregnties wherever ex-
posed to capture Inasmuch however, the expediency
of such action depended upon the readiness of Great br
tain to engage in with the United States which could
no, fail to ensue upon seizure Of the property of citizens OF
the republic made under petext of securing payment OF
State debt of Lord Palmerston not thought
to import much practical danger TO our countyman The
event has shown the prudence Of patient abstinence from
coercve effort There is only State in the Union to
which is attached the disgraceful stigma of persistent
pudaon and Mississippi long win see her true interest
in paying the dollar of her debt She too proud
always to shelter herself behind the power of the United
States from the possible consequences OF refusal to fulfil
her contracts
General jackson threatened war upon France and Ma
pies to enforce payment of debts due by those
to United States citizens But in that the deaultng
powers had bound themselves by treaty stpulations to
grant the indemnity exacted The citizen entitled to the
interposon Of his government to procure satisfaction for
injury sustained BY foreign aggression upon his rights
deprived of liberty property while abroad except as
penalty his misconduct the State to which he owes
allegiance is bound obtain for him redress But where
with his consent he parts with his money for cerh-
cate obligation which he takes voluntarily with all the
risks that attach it, and obtains at lower rate in pro-
portion those risks great be certainly wants the
equity claim of right that the interests of whole
ton shall be mperiled its progress retarded and its
ure spent him from loss the hazard Of which be
elected to incur If he might do it would at any time
be in the power of capitalists by purchasing Spanish pas-
syes or other unproductive government securities to
plunge their country into II cannot therefore, be
contended that duty its citizens requires OF gov
employ its fleets and armies TO protect such
claims The use Of force pretert so trivial implies
some other object than that which II processes TO seek
Noapprehension was expressed in the journals brought
BY the last Mexican mail respect the threatened dem
ousraon by the Spanish feet Yet Spain claims that the
government of Comont refuses TO fulfil the treaty spu-
Aons entered into by its predecessor England has no
motive to embarrass government aborng to inaugurae
an era Of commercial freedom and civil liberty in coun-
try long burdened with monopees prohibitions and every
species Of restrictive impedment TO trade and annoying
restraint upon personal action We have the fullest conf
dence that the difficulties with both countries will be
tied on liberal and Just basis without either having
course to blockade bombardment The following
tract from the English newspaper recently established in
the city Mexico gives the latest views expressed in that
capital on the subject of the English difficulty:
From MeIicsu Extraordinary, Oct IS.
We received letters from Vera Cruz setting forth
the fear which IL entertained there that the British feet
viii make its appearance of San Juan de Uou The
papers have also caught the swelling breeze and the
lecture TO be getting general Something like a
mouth ago said such event might be expected No
here possibly form correct opinion the sub
Jet Thus far the orders Of Admiral Fanshawe
known in MeIco and the chances are at least that
the las. Of week viii hostile feet In the harbor
OF Vera Cruz The chances say, about equal for
further diplomatic parley for immediate action.
The whole character Of the correspondence between
England and Mexico the subject Of the present disagree
would Justify the fears that generally
srtsined and Lord Carendons absence from his Office
would also lead the conclusion that definite orders had
been forwarded to the Admiral But what II definite
de have been received and the Admiral makes his ap
will set to work firing shells into the city block
aiding the ports without any correspondence ls any
foolish fear that England will do precpitae act
Supposng the feet does make It's appearance, England
will only send her agent here demand justice and that
Justice cannot be denied Mexico cannot lose anything by
agreeug with England in this request but what that
hce shall be England will not dictate II Mexico be dis
posed to settle the matter by prompt and open discus
zion.
II may not be agreeable TO the pride OF the nation TO
have such apparently coerciye measures thrust upon
but England knows well the difficulties and trials through
which the present government has passed. and s still pe
~ ard will act with that leniency which characterzes
IN intelligent and powerful nation The blockade OF the
porn Of nation which has 1eet would npt be VIC
ory N destroy her own commerce with Mexico would be