Weekly flag of the Union. (Jackson, Miss.) 185?-18??, 1857-12-23


] their favorites and friends with loans, "a I,
7 declare large dividends. Such has 8 oui
! experience in regard to the last bank
i After all, we must mainly rely un1 tht
: patriotism and wisdom of the States n tIis
} prevention and redress Of the evil. hey
J viii afford us a real specie basis for OF PEI
circulation by increasing the denominE u q
bank notes, first to twenty, and aftera ds tc
J fifty dollars; if they will require the
banks shall at all times keep on hand least
one dollar of gold and silver for even hFee
dollars of their circulation and deposit and
] if they will provide BY self-execntin sact.
! ment, which nothing can arrest, that Hs amo-
ment they suspend they shall go into AZ iida-
ton, | believe that such provisions ~ Ih a
weekly publication by each bank ofs ate
ment Of its condition, would 20 farto cure
!, against future suspensions Of sps asents.
Gsngresss ID my upiniDn power
J. 3 1 uniform bankrupt l.to & t.
all banking Institutions throughout sfes nited
States, and I strongly recommend itsexegcise.
This would make it the irreversible organic
law of each banks existence, that suspen-
sion of specie payments shall produce itscivil
death. The instinct of selfpreseryktion
would then compel it to perform its dates in
such manner as to escape the penaly and
preserve it's life
The existence Of banks and the circulation of
bank paper are so identified with tile habits of
our people, that they cannot at This day be
suddenly abolished without much Immediate
injury to the country. If we could cenfne
them to their appropriate sphere, and prevent
them from administering to the spirit Of wild
and reckless speculation by extravignnt loans
and issues, they might be continued with ad-
vantage to the public.
But this [ say, after long and much refec-
ton if experience shall prove it to beiassos-
sible to enjoy the facilities which we'll reggula-
ted banks might afford without at the same
time suffering the calamities which the ex-
cesses of the banks have hitherto inflicted
upon the country, it would then be fsl the
lesser evil to deprive them altogether s the
power to issue paper currency and ea3fne
them to the functions Of banks Of der,4it and
discount.
Our relations with foreign governments are,
upon the whole, in satisfactory eo6dition
The diplomatic difficulties which eSisted
between the government Of the United sstatcs
and that of Great Britain at the adjourHmcnt
Of 4'e last Congecss have been happily ter
minated by the appointment of "a British 1iinis-
ter to this country, who has been cordially re-
ceived
Whilst it is greatly to the interest, asI am
convinced it is the sincere desire, of t.sss gov.
ernments and the people of the two countries
to be on terms of intimate friendship with t
each other, it has been our misfortune Utmost
always to have had some irritating, If not
dangerous, outstanding question with Great
Britain.
Since the origin of the government wehave
been employed in negotiating treaties With
that power, and afterwards discussin Asr
a~,se ring II. e. .s I
Of April 10, 1850, COM ssay
called the Clayton and Bulwer treaty has
been the most unfortunate of all because die I
two governments place directly opposite and
constructions upon its first and
most important article
Whilst, in the United States, we believed
that this treaty would place both powers mp
Oil an exact equality by the stipulation that
neither will ever occupy, Or fortify, OF col
'nize, or assume or exercise any domihieR"
'yer, any part of Central America, it is csh-
ended by the British government that the
rue construction of this language has left
hem in the rightful possession of all that
portion of Central America which was in their
at the date of the treaty in fat,
hat the treaty is virtual recognition OF the
,art of the United States of the right of Great {
Britain, either as owner or protector, to the
whole extensive coast of Central America, I
weeping round from the Rio Hondo to sse
,ort and harbor of San Juan del Nicarag2a, {
ogether with the adjacent Bay Islands xsx-
ept the comparatively small portion OF tbs
between the Sarstoon and Cape Aondaral. !
Ioes no more than simply prohibit Them from
their possessions in Central Amer t
ca beyond the present limits. It is not too a
much to assert that, if in the United States
he treaty had been considered susceptible of $
ueh construction, it never would have been a
Negotiated under the authority of the Presi-
ent, nor would it have received the approba- i
ion of the Senate The universal conviction G
n the United Statos was, that when our gov /
consented to violate its traditional e
nj time honored policy, and to stipulate with
foreign government never to occupy or ac-
ul'o eolIly - n.:na snG a. ~. r.. j
ION u ~. emn uos' .ha. as4 I prta;n sha
.S ts ost saote - @iIs aaat . - 1aoad :; tha
:.s pIos oas.oas - J Wills we = m haro ~
light to doubt the sincerity of the British '
oYernment in their construction of the trea- o
II Is Mt the same time nv deliberate CEN t
ot; - = .hst ~ ' .bs constrct;on !; = annosta
~ = - Ia..a. 80 - ,;.. :
TT IIndsr ~ the , lota adm;nstrat;on naoo;.ti5ps
,ere ;nst;tnted between the two goyernments .
y the nurnose. If nossible Of removing these 8
;fH;cnlt;es and treaty having this landable 3
beet in view was signed at London on the g
III ac oatsLa. 1o5e - 80 a.L...;t.od l.. :