Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1857-12-17

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) self preservation would then compel
to perform its duties IN such a mann,
as to escape the penalty and preserve i
life.
The existence of banks and the eli
culation of bank paper are so identife
with the habits of our people that the
cannot at this day be suddenly abolish
ed without much Immediate injury t
the country. five would confine thcr
to their appropriate sphere, and pre-
vent them from administering to tn
spirit of wild and raekless speculatioI
iby sztravagant bans and issues, tina
they might be continued with advan
tage to the public.
But this l say, after long and mucl
reflection, if experience shall prove it t.
be impossible to enjoy the facilities whicI
well-regulated banks might afford, with
out, at the same time, suffering the ca
lamitics which the exeesses of the bank
have hitherto inflicted upon the country
it would then be far the lesser evil to de
prive them altogether Of the power to is
sue paper currency and confne then
to the functions of banks of deposit anc
account.
Our relations with foreign govern
ments are, upon the whole, in satisfac
tory condition.
The diplomatic difficulties which ex-
listed between the Government of the
United States and that of Great Britain
at the adjournment of the last Congress
have been happily terminated by the ap-
poin tment of British Minister to this
country, who has been cordially received.
While it is greatly to the interest, as
I am convinced it is the sincere desire,
of the governments and people of the two
counties to be on terms of intimate
friendship with each other, it has been
our misfortune almost always to have
had some irritating, if not dangerous,
outstanding question with Great Brit
ain.
Since the origin of the government
we have been employed in negotiating
treaties with that power, and afterwards
in discussing their true in ten It and mean
ing. In this respect, the convention of
April 10, 1850, commonly called the
Clayton and Bulwer treaty, has been the
most unfortunate of all; because the two
governments place directly opposite and
contradictory constructions upon its first
and most important ase;cle.
Whilst, in the United States, we be-
lieved that this treaty would place both
powers upon an exact equality by the
stipulation that neither will ever ''occu-
py, or fortify, or colonize, or assume or
exercise any dominion over, any part
of Central America, it is contended by
the British government that the true
of this language has left
them in the rightful possession of all
that portion of Central America which
was in their occupancy at the date of the
treaty; in fact, that the treaty is a virtu-
al recognition on the part of the United
States of the right of Great Britain,
either as owner or protector, to the
whole extensive coast of Central Ameri
ca, sweeping round from the Rio Hondo
to the port and harbor Of San Juan del
together with the adjacent
Bay Islands. except the comparatively
small portion of this between the Sars-
toon and Cape Honduras According
to their construction, the treaty does no
more than simply prohibit them from
their possessions in Central
beyond the present limits. 1t
S not too much to assert. that if il the
United States the treaty had been con-
'idcred susceptible ofsuch a construction,
t never would have been negotiated un-
ler the authority of the President, nor
would it have received the appreciation
If the Senate. The universal convic-
ion in the United States was, that when
'ur government consented to violate its
and time honorcd policy, and
% stipulate with foreign government
never to occupy or acquire territory in
he Central American portion of our
own continent, the consideration for
his sacrifice was that Great Britain
should, in this respect at least, be pla-
led in the same position with ourselves
Whilst we have no right to doubt the
sincerity of the British government in
heir construction of the treaty, it is at
he same time my deliberate conviction
hat this construction is in opposition
both to its letter and spirit.
Under the late administration nego-
iations were instituted between the two
for the purpose, if possible.
If removing these difficulties and
reaty having this laudable object in view
vas signed at London on the 18th Oc-
ober, 1856, and was submitted by the
President to the Senate on the following
9th of December. Whether this treaty,
either in its original or amended form,
would have accomplished the objeat in
ended without giving birth to new and
complication between the
wo governments. may perhaps be we'll
questioned. Certain it is, however, it was
'endered much less Objectionable by the
lifercnt amendments made to it by the
Senate. The treaty as amended, was
.atified by me on the 18th March, 1857
md was transmitted to London for rati-
ication by the British Government
That government expressed its willing
ness to concur in all the amendments
made by the Senate, with the single ex-
,eption of the clause relating to Ruatan
md the other islands of the Bay of Hon
luras. The article in the original trea-
", as submitted to the Senate, after re-
citing that these islands and their in
habitants "having been by convention,
bearing date the 9th day of August.
1856, between Her Brittanic Majesty