The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-12-24

| W eIVNN puNtuVHtN rtiuii IIbuuNt ttS
civil death. Tho instinct Of self
preservation would then compel il
to perform it's duties in such man
ner a. 10 escape the penalty and
preserve its life.
| The existence Of banks and the cir.
culation Of bank paper are ~ iicnti.
fled with the habits of our people
that they cannot at this day be sud
denly abolished without much immc-
date injury Ia the country. II we
could coniinc them 10 their appropri-
ate sphere, and prevent them from
administering 10 the spirit ST wild
and reckless speculation by cxtrava-
giant loans aud issues, they might bc
continued with advantage to the
public
But this ! say, after long and much
reflection: il experience shall proveit
{" be impossible TO enjoy the facilities
which wclLrcgulatcd banks might
afford without at the same time sui'
fcring the calnmitics which the OK.
ccssos Of the banks have hitherto in.
ilictcd upon the country, it would
then he Tar the lesser evil a. deprive
them altogether of the power to issue
n paper currency. and conine them
to the functions IT banks If deposit
and discount.
FOREIGN RELATIONS
Our relations with foreign governments
are, upon the whole, In u satisfactory eondi.
ton.
The diplomatic difficulties which existed
between the government Of the United States
and that 0f Great Britain al the adjourn.
Incnt OF the last Congress have been happily
terminated by the appointment OF British
minister 10 this country who has been cor.
daily received.
Whist il IL greatly 10 the interest. "a
am convinced il IL the sincere desire Of the
governments aud people Of the two coun-
tries 10 be ON terms Of intimate friendship
with each other, il has been our misfortune
almost always 10 have hal some irritating. II
not dangerous outstanding question with
Great Britain.
Since the origin Of the government we
have bcen employed in negotiating treaties
with that power, and Afterwards IN discus
sing their true intent and meaning. In this
respect the convention Of April 10. 1880,
commonly called the Clayton and IIuIwer
treaty, has been thu most unfortunate Of all
because the two governments place directly
opposite and contradictory constructions
upon liz first and most important article.
Whilst. in the Uaitod States, we believed
that this treaty would place both powers
npon an exact equality by the stipulation
that neither will ever occupy, or fortify. or
colonize. or assume or exercise any dominion
over. any part Of Central America, II "
commended by the British government that
the true construction Of tbi- language has
left them in the Fightful possession Of oil
that portion of Central America which wins
in their occupancy at tbe date Of the treaty;
in fact, tina, the treaty " u virtual rccogni.
ton on the part Of the United States Oi the
right Of Great Britain, either as owner or
protector. 10 the whole extensive coast OF
Central America, sweeping round from the
Rio Hondo 10 the port and haFbor Of san
Juan DE Nicaragua, together with the ALA
cent Bay Islands, except the comparatively
small portion Of this between the Ssrstoon
and Cape Honduras.
According 10 their construction. the
treaty does no more than simply prohibit
them from extending their possessions Ia
Central America beyond the present limit.
II In not too much IN s,<rrt that II in the
United States the treaty hal been consider
Cd susceptible Of such construction, II
never would have b'sn negotiated under the
authority Of the PrSidcn,. nor would II
have reosiyed the appreciation of the Sen
ate. The universal conviction IN tho United
STATS WAS, that WIN our government con
,cu,ed 10 violate its traditional and time
hDnorsd policy. and N stipolsts with a
fereign government never to occupy or nc-
quirs territory IN the Central American pr.
ton Of our continent. the confederation tor
this sacrifice was that Great Britinn should.
10 this r,pcct at least, he placed 10 the
same position with ourselves. Whilst We have
right TO doubt the sincerity OF tbs British
Government in their construction N the
treaty, II IL at the same time my deliberate
conviction that this construction 10 In oI-
position both ~ iis litter AMI ito spirit
Under the late administration negotia-
,ions we're instituted between the two gov
ernrseut for the purpose, IL possible, Of re.
moving ths.e difficulties; and treaty hsv.
ing this landslide object In view WA sigoed
q, I/ndon, on the 1th Of Octot~r. 1856,
and WAS submitted by the President 10 the
SENATE. on the following 10th Of December.
Whether this treaty. either in iis original
or srpepiui form. would have accomplished
the object intended without giving birth 10
Dew and embarrassing complications BE-
twsn the two governments, may perhaps be
well Questioned. Certain il IL. however. il