Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1857-12-19

ulation by extravagant loans and issue,
they might be continued with advantage
the public; but this I say, after long an
much reflection, If experience shall prove
to be impossible to enjoy the facilities whic
well regulated banks might afford, without
at the same time suffering the calamitie
which the excesses of the banks have hither
to inflicted on the country, it will then
far the lesser evil to deprive them altogeth
or OF the power to issue q paper currency
and confne them to the functions of bank
of deposit and discount.
Our relations with foreign government
are on the whole in satisfactory condition
The diplomatic difficulties which existed be
tween the Government of the United State
and Great Britain at the adjournment Of tn
last Congress have been happily. terminate,
by the appointment of British ministe
10 this country, who has been cordially re
ceived. ~
While it is greatly to The interest, as
nm convinced is the sincere desire, Of tn,
Government and people of the two countries
| to be on terms of intimate friundship will
each other, it has been our misfortune al
ways to have had some irritating, if mo-
dangerous, outstanding question with Grea
Britain.
Since the origin of the Government W.
have been employed in negotiating treaties
with that power, and afterward in discus.
sing their true intent and meaning. In thi.
respect, the convention of April 19, 1850
commonly called the Clayton and Bulwel
treaty, has been the most unfortunate of all
because the two Governments place directly
opposite and contradictory constructions
upon its first and most important article.
While, in the United States, we believe
that this treaty would place both power,
upon an exact equality by the stipulation
that neither will ever occupy, or fortify,
or c0lOnize, or assume or exercise any do
minon' over any part of Central America
it is contenGed 10y the British Government
that the true construction of this language
has left them in the rghtful p ,s>es>ion of all
that portion Of Central Amer. Gu which was
in their occupancy at the date of the treaty;
in fact, that the treaty is virtual recogni-
ton 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 America, sweeping round from the
Rio Hondo to the port and harbor of San
Juan de Nicaragua, together with the adja-
cent 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 consider
ed susceptible OF such construction, it ney-
er would have been negotiated under the au
thority Of the President. nor would it have
received the appru bation OF the Senate. The
universal conviction in the United States
was that when our Government cons nted
to violate its traditional and time-honcred
policy and to stipu ate with foreign gov
ei inment never to occupy or acquire territory
in the Central American portion of our own
continent, the consideration tor this sacrifice
was that Great Britain should, in this re-
spect atsleast, he placed in the same position
with ourselves. While we have no right to
doubt the sincerity of the British Govern
ment in their construction of the treaty, it is
at the same time my deliberate conviction
that this construction is in opposition both
to its letter and spirit.
Under the late Administration negotia.
tons were instituted bet ween the two Gov.
ernments for the purpose, if possible, of re-
moving these difficulties; and a treaty hav
ing this laudable object in view was signed
at London on the l7th October. 1856, and
was submitted by the President to the SEN
ate on the following 10th of December
Whether this treaty, either in its original or
form, would have accomplished
the object intended without giving birth to
new and embarrassing complications be-
tween the two Governments, may perhaps
be well que toned. Certain it is, however,
it was rendered much less objectionable by
the different amendments made to it by the
Senate. The treaty, as amended, was rati
lied by NE On the 18th of March 1851, and
was transmitted to London tor ratification
by the British Governent. That Govern
nent expressed its willingness 10 concur III
ill the amendments made by the Senate,
with the single exception Of The clau,e reIa-
,ing to Ruatan and the other islands in The !
Bav of Honduras. The article in the oriyi
la treaty, rs submitted TO the Senate, af,er
'eciting that the sc islants and their inltao.
tart>, 8 having been by Convention bear
rg date the q III day of August, 1856, be-
ween her Brita.nic Majesty aud the Rep"b.
ic If Honduras, ,i,>litHtrd aud declared Il
rec ttriit,ry unde the sovereignty o, The
'id Republic OF Honduras" }" stipulated that
" the two cont, acting parties do hereby mn-
;uatly engage t" 'ccagnize and respect in all
urure ii re the Independence and rights of
lie said free territory as part OF the Re-
public of Honduras"
Upon an examination of this convention
between Great Britain and II ,n,luras of the
27th of August, 1856. it was found that,
while declaring the Bay Islands to be 6 q
'ree territory under the sovereignty Of the
Republic of Honduras" it deprived chat Re-
public of rights without which its sove-
rcigntv over them could scarcely be said to
,xist 1t divided them from the remainder
1f Honduras, and gave to their inhabitants
a separate government of their own, with
legislative, executive, aad judicial officers
e. vernment of Honduras of the taxing pow
Or in every form, and exempted the people
,f the islands from the performance of mill
ary duty except for their own exclusive
defence. 1t also prohibited that Republic
from erecting fortlfications upon them for
heir protection-lhus leaving them open to
INVASION from any quarter; and, finally, it
provided "that slavery shall not at any
lime hereafter be permitted to exist there
n"
Had Honduras ratified this convention,
he would have ratified the establishment of
. State substantially Independent within her
,wn limits, and State at all times subject
% British influence and control. Moreover,
lad the United States ratified the treaty
with Great Britain in its original form. we
should have been bound to recognize and
respect in all future time" these stipnlations
10 the prejudice Of Honduras Being in d-
rect opposition to the spirit and meaning OF
the Clayton and Buwer treaty as under
stood in the United States, the Senate re-
iected the entire clause, and substituted In
it's stead simple recognition of the sOve-
reign right of Honduras to these Islands in
the following language: The two con-