Mineral Point tribune. [volume] (Mineral Point, Wis.) 1854-1858, 1857-12-15

banks
PM banl, of the United States would
not, if II coald, restrain the issues and
loans of the STATE banks, because lis duty
as a regulator of the currency must often
he IN direct conflict with the immediate
! interest of its stockholders. II we eN-
nsct one agent 10 restrain or control an
other, their interests must, At least IN
some degree be- aniagonlstIc. But the DIR
ectors of a bank of the United States
would feel The same interest and The
same inclination with the directors OF the
4 State banks TO expand the currency 70
+ accommodate their fayorltes and triends
with loans, and to declare large dividends
Such has been ur experience III regard
to the last bank.
/ After all, We must mainly rely on the
patriotism and wisdom of the States tor
/ the prevention and redress OF the evil
Ii tlIey y III afford us a real specie basis
for our paper circulation by increasing
the denomination OF bank notes first to
$50 and afterwards TO $50; II they Will
REQUIRE that the banks shall at all times
keen on hand at leasL oae dollar OF goia or
silver for every three dollars of their CIR
culalion and deposits, and If they VIII pro-
EiQc DIV = sell GAECutlie tliAbNiii~4A' W $500
nothing can arrest, that the moment they
suspend they viii so into liquidation, be-
lieve that such provisions, with weekly
publication by each bank Of statement
OF It's condition, would sc far TO secure Us
against future SUSPENSIONS OF specie pay
uents. Congress, IN my opinion, posses
: ses the power 10 pass a uniform bankrupt
. law applicable to all banking institutions
throughout the United States and strong
, IN recommend its exercise. Tins would
/ make it the irrevocable organic law OF
, each banks existence that u suspension Of
r specie payments shall produce lis civil
. death The existence of banks and CIR
cuIation Of bank paper are so ltenuiIed
with the habits OF our people tint they
cannot at this day be Suddenly abolished
. without much immediate injury 10 the
country. II We could conine them to their
, appropriate sphere and prevent them from
administering 10 the spirit OF wild and
, reckless speculation by extrayagant loans
: and issues, they might be continued with
advantage 10 the public.
, But TINS | say after long and much re-
, Fiction, if experience shall prove It TO be
impossible TO enjoy the facilities which
well regulated banks might aHOrd, with
a ont al the same time suffering the calam-
tiles which the excuses Of the banks have
, hitherto inflicted upon the country, j
would then be far the lesser evil to de-
: prive them altogether Of the power to IS
+ sue Il paper currency, and couiine then
r to the functions of banks OF deposit aul
: Discount.
Our relations with foreign govern
: ments are, upon the whole, IN a sa,islac
, tory condition. The diplomatic Difficult.
ties, winch existed between the govern
. meut OF the United States and that O
: Great Britain ut the adjournment OF lht
/ last Congress have been happily terminal
: ted by the appointment Of a British MIN
: lister T. Is country who has been cordl
4 ally received.
Wills. it Is greatly to the interest, as
: am convinced IL is the sinccrest desire o
, The government. and people of the t,v,
: countries 20 be on terms OF intimate
, friendship with each other, il has beer
> our misfortune almost always 10 nay
some Irritating, If not dangerous, outstan
, ding question with Great Britain.
r Since the origin OF the government ".
: have been employed IN negotiating urea
,ies with thar power, and afterwards II
/, discussing their true m nt and meaning
: Ia this respect the convention OF Apr
% 49, 1850, commonly called the Clayt3l
F.. and Buiwer treaty, has been the most un
& fortunate Of all; because the two govern
j nents place directly opposite and contra
! dIclOry constructions upon its first an
most important article. Whilst, in til
~ United States, we believed That this trea
doc, -
r act equality by the stipulation that neithe
/ will ever occupy, or fortify, or colouize
: or assume, or exercise any dominion
d over, any part of Central America, il
.a conteuded by the British government tina
= the true construction OF this language ha
left them IN the rightful possession OF a
:. that portion OF Central America whic
: was IA their occupancy at the date Of III
l. treaty; IN fact, that the treaty is a virtua
/, recognition on the part of the Unite
% States Of the right OF Great Britain, ei
= Their as owner or protector, 10 the who'll
Il extensive coast OF Central America syveer
r nag round from the RIO IIoudo to in
re port aui harbor OF SAM uan de Nicaragua
b, together with the adjacent Bay Island:
:. except the comparatively small portion G
l. this between the SarStOOn and Cape Hon
,e duras. According to their construction
| the treaty does no more than simply Pre-
e hlbIt them from extending their posses
$ sIons III Central America beyond th
/ present limits. Ii Is not too much ID as
Is sart, that i In the United States the trea
+. " had been considered susceptible OF sue
- Il constitution, it never would have bee
Is negotiated under the authority of tn
President, nor would il have received III
ID appreciation OF the Senate. The uaiver
# 81. conviction N the United States wa:
q. that when our Government consented ,
5. violate lis traditional and time-honore
<, policy, and 10 stipuiate with Il foreign gov
g crnment never to occupy or acquire ter
f rlt0ry IN the c u,ral American portion O
Z our own continent, the consideration 70
this sacrifice was that Great Britain ShouI
: lH this respect at least, be placed in tn
Ii same Position WIKI ourselves. Whilst *
5 have 40 right TO doubt the sincerity of tn