The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-12-16
Thc PresiGcnt,s nIessnre.


We lay before our readers this week, the
Presidents Message. 1t is what might have been |
'expecLed from an experienced and tried states
man like James Buchanan. Considering the.
number of important subjects treated Of it is
comparatively brief He gives his views on the
variousexciting and interesting questions con.
cerning the nation in calm, clear and lumi-
nous style.
His remarks upon the currency are wisely
conceived and tersely expressed, and such as
will commend themselves to the good sense,
and careful consideration ofeVery thinking man.
A we'll established bank he thinks should at
least have one dollar in specie for every three
dollars of circulation and deposist; but he shows
that, in fact, our banks on an average have not
one dollar in specie for every seven of circula-
ton and deposit. Under such circumstances
the only wonder is that they did not blow up
long ago. "rhe history Of the last forty years
has been history of extravagant expansions
in the business of the country, followed by ru-
inous contractions." These expansions raise
the nominal price Of everything and drive the
gold and silver out of the country. When a
man has pocket full of rags he will not spend
his gold. He considers that they should be
compelled to maintain specie payments, and
that the failure so to do should produce its ciUH
death. We say amen. He winds up with this
very wise reflection:
"Butthis say after much and long reflection:
| If experience shall prove it to be impossible to
. enjoy the facilities, which we'll regulated banks
might afford, without at the same time, suffer
ing the calamties which the excesses Of the
banks have hitherto inflicted on the country, it
would then be far the lesser evil to deprive them
altogether of the power to issue apaper curren'
cy and confne them to the functions Of banks
of deposit and discount"
| He next treats of our relations with foreign
governments which no considers in the main
satisfactory. His remarks about the "Clayton
and Bulwer treaty. are very appropriate. But
we must pass over various parts ofthe message.
The high moral tone of his message in regard
to the rights Of neutral powers, and tho fitting
up of piratical expeditions to prey upon the
! weaker nations, should put to shame those who
have charged him withall kinds of wrong and
oppression in regard to the small nations.
He gives very clear and impartial statement
of the affairs in Kansas. He expressed him
self as he ever has done, in favor of 'the great
doctrine Of popular sovereignty and calls it
'the vital principal Of our free institutions"
"The Territorial legislature, in the law pro-
| 60, Eho al If al tn
constitution had omitted to provide for submit
ting the constitution when formed, to the peo-
pie. lie however disapproves Of the action Of
the convention in not submitting the aDltole con-
sttution, although he admits they were 'not
bound to do so by tie terms fthe Nebraska bill I"
except as to the question of slavery. But he
says he took it far granted that the convention
Of Kansas would act in accordance with the
example, founded as it is on correct principles,
Of the Minnesota bill which requires thas its
constitution should DO subject to the approval
and ratification Of the people of the proposed
state and hence his instructions to Governor
Walker in favor of submitting the constitution
to the people were expressed in general and un'
iqualitied aerms." And he trusts that the wi
example set by tho Minnesota bill "may be fol-
v lowed on future occasions" For then ther,
could not possibly arise any question as to the
convention being bound, in all cases. to submit
the whole constitution. He seems desirous that
| the people should vote on the 2lst and thus
Z settle the slavery question at any rate. Ant
also seems desiroRs that Kansas should be ad
mtted as State, as soon as possble-thinks
that she has for years occupied too much of the
Y public attention. 1t is high time this should b
directed to far more important objects. Whe
once admitted into the Union, whether with OF
t without slavery the excitement beyond her owl
limits will speedily pass away, and she will thel
: for the first time be left as she ought to hay
: been long since, to manage her own affairs j
t her own way. If her constitution on the sub
: ject of slavery Or any other subject be displeas
: ing to majority of tbs people, no human pow
= = er can prevent them from changing it within
. brief period" II, leaves the subject cntirely
$ to the wisdom Of Congress, and makes no re
: commend4tion to them about the matter, ,leavin
!, = them perfectly free toalopt any measure for tn
!. peace AMI prosperity Of Kansas which they il
their judgment, shall think best under all tn
: circumstances when the time shall come *
. their action This we consider very proper.
!. He next gives history Of the affairs in Utal
and makes some excellent Recommendation
- for the settlements of the difficulties there
4 | But we have not spaes to consider the who
!. message now. We trust our readers will m
i fail to read the whole message, and store Il
truths therein contained away in their mem
> ries carefully Upon the whole we consider
y one of the most admirable documents, in Il
shape OF message, ever delivered to Congress
v And If the Democratic party, shall continue
\ act upon its wise principles and suggestions,
. cannot fail to increase in numbers and presperi
4 and its principles continue to be cherished Wi
Il confidence in the hearts Of q rnagnanimous al
n happy people.
i Resumption of specie Payments.
Il BosToS, Dec 12.--The banks have resolve
y to resume specie payments on Monday. ia
,el NEW YORK. Dec. l2-The Times says, Il
J. associated banks Of the city ofNew York uhal
tel imorisly resolved last night to resume the pay
,r ments ofspece on all their Obligations, this da
ID The determination was not generally known
Iy advance, but the price Of gold being only OF