Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1858-12-11

inc this article Is admitted free from duty In
the u S. This IL a heavy charge upon the
consumers Of coffee 10 our country as we pur-
chase half OF The entire surplus crop Of that
article raised ~ Brazil Oar minister. under
instructions, will reiterale his elfofts to have
this export duty removed; and il is. hoped
that the enlightened government oi the en-
pcrOr viii adopt this wise. just and equal poll
cy. In that event there is good reason to be-
lievs that the commerce between the two
countries will greatly iucrease, much to the
advantage Of both.
The claims Of our citizens against the gov
ernueBt Of Brazil are not. in the aggregate,
OF very large amount; bnt some OF these rest
upon plain principles Of justice, and their set
tlement ought not to be longer delayed. A
renewed and earnest, aud trust successful
effort, will he made by our minister to procure
their fuai adjustment.
On the I'd of june last. Congress passed
Joint resolution authorizing the president 'to
adopt such measure aud use such force as, IN
his Judgment, may be necessary aud advis-
able "lOr the purpose of adjusting the differ.
eures between the U . S. and the republic Of
Paraguay, IN connection with the attack on
the United Stotes siea,npr Waier Witch, aud
with other meas,ires referred io" in his annual
message. And on the 18th Of July following,
they made au appropriation to defrly the ex-
penses aud compensation of commissioner
to that republic, should the president deem it
proper o make such an appointment.
Iu cOmplianee with these cnaciments lavo
appointed n Commissioners, who has proceeded
to Paraguay witlifull powers and Instructions
TO settle these differences 10 an amicable and
peaceful manner, If this he practicable. His
experience and discretion Justify the hope
that he may prove successful in convincing
the Paraguaynn government that it is due
both to honor and justice that they should
voluntarily and promptly make atonement
or the wrongs which they have committed
against the United States, and Indemnify our
Injured citizens whom they have loreibly de-
spoi cd Of their properly. Should our com.
missioner prove successful, after a.sincere and
earnest effort TO accomplish the ohje,t OF his
mission, then no alternative will remain but
the employment of force to obtain "just sat
isfaction" from Paraguay. In view of this
contingency, the secretary OF the navy under
nv direction, has fitted out and dispatched
naval force, TO rendezvous near Buenos Ayres
which, it is believed, will prove sufficient for
the occasion. II is my earnest desire, how
ever, that it may not be found necessary to
resort to this last alternative.
When Congress met IN December last, the
business Of the country had Just been crushed
by one of those periodical revusions which
are the inevitable consequence of our unsound
aud extravagant system of bank credits and
inflated currency. With all the elements of
national wealth in abundance, our mahufac-
lures were supended, our useful public and
private enterprises we're arrested, and thou
sands of labOrers were deprived of employ
z.
tress prevailed among the commercial, manu-
featuring and mechanical classes. This revul-
sion was felt the more severely in the .. S. be-
cause similar causes had produced the like de-
piorabe effects throughout the commercial
nations Of Europe, All were experiencing
sad reverses at the same moment Our man
uiactures everywhere suffered severely nor be-
CAUSE of the recent reduction in the tariff of
duties on imports, but because there was no
demand at any price for their productions
The people were obliged to restrict themselves
in their articles of prime necessity. In the
gene raj prostration of business the iron man.
lac,ures in different states probably suffered
IN ore than any other class, and much desiitu-
ton was the Inevitable consequence anon :
the great number Of workmen who had been
employed in this useful branch of our indus
try There could be supply where there
was no demand. To present an example,
there could be no demand for railroad iron
after our magnificent system Of railroads. eX
tending its benefits TO every portion OF the
Union, had been brought to a dead pause -
The same consequences shave resulted from
similar causes to many other branches of use
full manufactures. II is selfevdent that
whele there are no ability to purchase manu-
Gae'ured articles these cannot he sold aud
consequently must cease to I've produced.
No government aud especially govern
ment OF such limited powers as that of the
U. S. could have prevented the late revulsion.
The whole commercial world seemed for wears
Ia have been rushing to tie catastrophe -
The same ruinous consequences would have
followed in the T. S. whether the duties up
Oh forei Gu imports had remained as they were
under tie tariff of 1916, or had been raised
to a much higher standard. The tariff of
1857 had no agency in the result. The gen
erul causes existing throughout the world.
could not have been controlled by the legis-
luiion of any particular country.
The periodical revulsious which have exist
ed il our past history must continuc to return
at intervals so long ms our present unbound
ed system of bank credits shall prevail. They
will. however. probably he less severe in fu-
ture because il is not Ia he expected at
least for mauy years 10 come, that the com
mercial nations of Europe, with whose inter
ests our own are so materially il volved, will
expose themselves To similar calamiteS.-
Bat this subject was treated so much at large
in my last annual message that ] shall not now
pursue it further Still respectfully renew
the Recommendation, IN favor of passage
of a uniform bankrupt law, applicable 10
bunkiug institutions. This is all the direct
power over the subject which, | believe, the
federal government possesses. Such law
would mitigate, Ihongh it might not pre- rent
the evil. The instinct of selEpreservatiOn
might produce wholesome restraint upon
their banking business it they knew in adj
vance, that suspension of specie payments
would inevitably produce their civil-,leath.
But the effects of the reyusion are now
slowly but surely passing away. The energy
and enterprise of our citizens with our u,l-
bounded resources. will within the period of
another year, restore n state of wholesome
industry and trade Capital has again ac-
eumulated in our large cities. The rates OF
interest nre there very low. Confidence is
gradually revviDI, and so soon as il is discov-
cred that this capital can be proftaby en-
ployed in commercial aud manufacturing en-
terprises, and in the construction of railroads
aud other works Of public ANA private i'm
provemeut, prosperity will again smile through
out the land. 1t is vain, however, to disguise
the fact from ourselves, that speculative in