Daily Iowa State Democrat. [volume] (Davenport, Iowa) 1856-1859, 1857-12-12

instinct OF eeu peeeorvots0n WOuld then
compel it to perform its duties in such
manaer IS to escape the penalty and pre-
serve its life. hnl5u la.
The existence OF banks and the circulation
Of bank paper are SO identified with the |
habits Of our people, that they cannot ut |
this day be suddenly abolished without |
much immediate injury to the country. II
we could confine them TO their appropriate |
sphere, and prevent them from administer
ing to the spirit Of wild and reckless specnla- |
ton by extravagant loans and issues, they |
might be continued with advantage to the |
public.
But this | say after long and much re- |
Election if experience shall prove it to be |
impossible to enjoy the facilities which well |
regulated banks might afford without at the |
same suffering the calamities which the ex-
cesses Of the banks have hitherto inflicted
upon the country it would then be far the
lesser evil to deprive the altogether OF the
power to issue paper currency, and confine
them to the functions Of banks Of deposit
and discount.
Foreign RelatiOms.
Our relations with foreign governments
are, upon the whole in a satisfactory condi-
ton.
GREAT BRITAIN.
The diplomatic difficulties winch existed
between the government Of the United
States and that Of Great Britain, at the adj
journment Of the last Congress, have been
happily terminated by the appointment Of
British ministry to this country, who has
been cordially received.
Whilst it is greatly to the interest, as |
am convinced it is the sincere desire, OF the
governments and people Of the two countries
to be on terms Of intimate friendship with
each other, it has been our misfortune al
most always to have had some irritating, it
not dangerous, outstanding question with
Great Britain.
THE CLAYTON AND BULwER TREATY.
Since the origin Of the Government We
have been employed in negotiating the
treaties with that power, and afterwards
in discussing their true intent and meaning.
In this respect, the convention Of April 10.
1850, commonly called the Clayton and Bull
wcr treaty, has been the most unfortunate
Of all because the two governments place
directly opposite and contradictory con-
structions upon its first and most important
article. Whilst, in the United States, we
believed that this treaty iwOud place both
powers upon an exact equality by the slip
ulation that neither will ever g occupy or
foItify, or c,lonize, or assume, or exercise
any dominion" lover any part of Central
America, it is contended by the British
Government that the true construction Of
this language has left the the rightful pos
session of all portions Of Central America
whichwas in their occupancy at the date of
the treaty in fact, that the treaty is Il
virtual recognition on the part Of the United
State, OF the right of Great Britain, either
as owner or protector, to the whole extern
sve coast Of Central America, sweeping
round from the Rio Hondo to the port and
harbor of San Juan de Nicaragua, together
with the adjacent Bay Islands, except the
comparatively small portion of this between
the Sarstoon and Cape Honduras.
According to their construction, the
treaty does no more than simply prohibit
them from extending their possessions in
Central America beyond the present limits.
1t is not too much to assert that if in the
United States the treaty had been con,d-
cred susceptible of such construction, it
never would have been negotiated under the
authority of the President, nor would it
have received the appreciation of the Senate.
The universal conviction in the United
States was, that when our government con-
sentcd to violate its traditional and time
honored policy, and to stipulate with Il for
egn government never to occupy or acquire
territory in the Central American portion of
our own continent, tho consideration for this
sacrifice was that Great Britain should in
this respect at least be placed in the same
position with ourselves. Whilst we have
no right to doubt the sincerity Of the Brit
ish government in their construction of the
treaty, it is at the same time my deliberate
conviction that this construction is inOrpo-
sition both to its letter and its spirit.
Under the late administration negotia-
lions were instituted between the two gov
ernments for the purpose, if possible, OF re-
moving these difficulties and a treaty hav-
ing this laudablc object in view was signed
at London on the 18th Of October 1856, and
was submitted by the President to he Sen
ate on the following 10th of December.
Whether this treaty, either in its ori.i-
nal or amended form, would have accom-
plshed the object intended without giving
birth to new and embarrassing complications
between the two governments, may per
haps be well questioned. Certain it is,
however, it was rendered much less objec-
tionable by the different amendments made
to it by thu Senate. The treaty, As amen
ded, was ratified by me on the 18th Of
March, 1857, and was transmitted to Lon
don for ratification by the British Govern
ment.
That government expressed willingness
to concur in all the amendments made by
the Senate with the single exception of the
clause relating to Ruatan and other islands
in the Bay Of Honduras. The article in the
original treaty, as submitted to the Senate,
after reciting that these islands and their
inhabitants ''having been by convention
bearing date the 9th day Of August, 1856,
between Her Brittanic Majesty and the Rc
public OF Honduras, constituted and declar-
ed Tree territory under the sovereignty Of
the said republic of Hsnduras," stipulated
that sthe two contracting parties do hereby
mutually engage to recognize and respect
in all future time the indepcnce and right
Of the said free territory as part Of the
republic Of Honduras"
UupOn an examination Of this convention
between Great Britain and Honduras OF the
9th August, 1856, it was found that, while
declaring tho Bay Islands to be "a face ter
ritory under the sovereignty Of the Repub-
lie OF Honduras" it deprived that republic |
ot rights without which its sovereignty over
them could scarcely be said to exist. 1t di- |
vided them from the remainder of Hondu- |
ras, and gave to their inhabitants separ-
ate government Of their own, with leglsla- |
tive, executive and judicial officers, elected |
by themselves. 1t deprived the government |