Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1858-12-24

instructions, Will relterate his efforts to have
| this export duty removed /; and it IL hoped that
the enlightened government of the emperor
will adopt this wise, jast, and equal policy
La that event, there is good reason 10 believe
that the commerce between the two countries
Will greatly increase, much to the advantage of
! both.
The claims of our citizens against the gov
ernment OF Brazil are not, in the aggregate, OF
very large amount; but some of these rest upon
plain principles of justice, and their settlement
ought not to be longer delayed. A renewed
aud earnest, and trust successful effort,
will be made by our minister to procure their
| final adjustment
| On the I'd of June last, Congress passed
joint resolution authorizing the President 'sto
adopt such measures and use such force as, III
/ his judgment, may be necessary and advisable,
''for the purpose of adjusting the differences
| between the u. States and the republic of
Paraguay, in connexion with the attack on the
U. States steamer Water Witch, and with other
measures referred to" in his annual message.
AMI on the 18th July following, they made an
appropriation to defrsy the expenses and COM
pensation of commissioner to that republic,
should the President deem it proper to make
such an appointment.
ID compliance with these enactments, have
appointed commissioner, who has proceeded
to Paraguay, with full powers and instructions
to settle these differences IN an amcable and
peaceful manner, if this be practicable. Ills
experience aud discretion justify the hope, that
he may prove successful in convincing the
Paraguayan government, that it is due both to
hoRor and justice, that they should voluntarily
and promptly make atonemeht for the wrongs
States, aud indemnify our injured citizens
whom they have forcibly despoiled Of their
property.
Should our commissioner prove unsuccessful,
after sincere aud earnest effort, 10 accomplish
the object of his mission, then no alternative
will remain, but the employment Of force to
obtaiL s.just satisfaction" from Paraguay. In
view of this contingency, the Secretary OF the
Navy, under my direction, has fitted out and
despatched a naval force, to rendezvous near
Buenos ASres, which, it is believed, will prove
sufficient for tue occasion. Ii is my earnest
desirt=r o~eyor, that Il may not be found me-
cessary to resort to this last alternative.
When Congress met in December last, the
business Of the country had just Eeen crushed,
by one Of those periodical revulsions, which
are the inevitable consequence of our unsound
Inflated currency. With all the elements of
national wealth in abundance, our mauutactu-
res were suspended, our useful public aud pri-
vate enterprises were arrested, and thousands
of laborers were deprived of employ nent aud
reduced to want. Uaiysrsal distress prevailed
among the commercial, manufacturing, and me
cbauical classes.
THIS revulson was felt the more severely in
/ ~ had
duced the like deplorable affect throughout tho
commercial nations of Europe. All we're ex-
periencing sad reverses at the same moment.
Our manufacturers everywhere suffered se-
verely, not because of the recent reduction iii
the tariff of duties on imports, but because
there was no dcmaud at any price for their
productions The people were Obliged to re-
strict themselves, in their purchases, 10 articles
of prime necessity. In the general pr9stratiol,
Of business, the iron manufacturers In different
States probably suffered more than any other
class, ami much destitution was the inevitable
consequence, among the great number of work.
men who had been employed in this useful
branch of our industry. There could be no
supply where there was no demand. To pre-
sent an example, there could be no demand for
railroad iron, after our magnificent system vt
ton of the Union, had been brought to dead
pause. The same consequences have resulted
from similar caases to many other branches OF
useful manufactures. 1t is self evident that
where there is no ability to purchase manufac-
tured articles, these cannot be sold, aud con-
sequently must cease to be produced
No government, and especially government
Of such limited powers as that of the y. States,
a. late
whole commercial werld seemed for years to
have been rushing to this catastrophe. The
same ruinous consequences would haps follow
+, ed il the U. States, whether the duties upon
foreign imports had remained as they were un-
der the tariff of 1916, or had been raised to
much higher standard. The tariff of 1857 had
no agency in the result. The general causes
existing throughout the world, could not have
been controlled by the legislation of any par
tieular country
The periodical revolutions which have oxist-
cd in our past history, must continue TO return
u; intervals, SO long as our present unbounded
system of bank credits shall prevail. They
will, however, probably be less severe in the
future because it Is not to be expected, at
least for many years TO GENE, that the culr-
nicrclal nations Of Europe, with whose interests
cur own are SO materially involved, will expose
! themselves to similar caiainities. But this
subject was treated so much atslarge 10 my last
annual message that shall not pursue it fur
ther. Still, respectfully renew the recon-
mendation, in favor of the passage of a uniform
bankrupt law, ,appiicable 10 banking institutions.
This is all the power over the subject which,
believe, the federal government possesses.-
Such law would mitigate, though it might not
prevent the evil. The instinct of self-preser-
vation might produce wholesome restraint
upon their banking business, if they knew in