Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1858-12-08
EConelpded frcm lsi page.l


still continues to levy export duty Of about IL
per cent on coffee, notwithstanding this article is
admitted free from duty in the United States This
is a heavy charge upon the consumers OF coffee in
our country, as we purchase half of the entire
plus crop ofthat article raised in Brazil. Our Min
ister under instructions, will reiterate his efforts
TO have this export duty removed; and II IS hoped
that the enlightened government of the Emperor
will adopt this wise, Just and equal policy. In
that event there is good reason TO believe that the
commerce between the two countries viii greatly
increase, much to the advantage of both.
The claims of our citizens against the govern
ment of Brazil are not, in the aggregate, of very
large amount but some of these rest upon plain
principles ofustice and their settlement ought not
10 be longer delayed. A renewed and earnest,
and I trust, a successful effort, will be made by
our Minister to procure their final adjustment.
On the ID of June last Congress passed joint
resolution authorizing the President to adopt
such measures and use such force as, in his judg-
ment, may be necessary and advisable "for the
purpose of adjusting the difference between the
United States and the republic of Paraguay, in
nectiOn with the attack on the United States
steamer Water Witch, and with other measures
referred to- in his annual message. And on the
18th July following, they made an appropriation to
defray the expenses and compensation OF com
missioner TO that republic, should the President
deem it proper TO make such an appointment.
In compliance with these enactments have ap-
pointed a commissioner, who has proceeded TO
Paras uay with full powers and Instructions 10 set
tie these differences in an amcabe and peaceful
manner if this be practicable. His experience
AMI discretion Justify the hope that be may prove
successful in convincing the Paraguayan govern
ment that if is due both to honor and justice that
they should voluntarily and promptly make atone
ment for the wrongs which they have committed
against the United States, and indemnify our in.
jursd citizeDs whom they have forcbly despoled
of their property.
Should our commissioner prove unsuccessful
after a sincere and earnest effort to accomplish
the object of his mission, then no alternative
will remain but the employment of force TO OBJ
tain lust satisfaction" from Paraguay. In
view of this contingency the Secretary of the
Navy, under my direction, has fitted ont and
despatched force to rendezvous near Buenos
Avres. which it is believed viii prove sufficient
for the occasion It is my earnest desire, how
ever. that it may not be found necessary TO re-
sort to the last alternative.
When Congress met in December last, the
business of the country had just been crushed
bv one of those periodical revulsions which are
the inevitable consequence of our own unsOund
and xtrayeuant system of bank credits and in
fstod CURRENCY. With all the elements of
national wealth in abundance our manufactures
were SUSPENDED; our useful public and private
enternrises were arrested, and thousands of Ia
borers we're deprived of employment and re
duced to want. Universal distress prevailed
among the commercial manufacturing and me-
cbauical classes. The revulsion was felt the |
more severely in the United States because |
similar causes had produced the Ike dePlorable |
effects tbrouqhout the commercial nations OF |
Europe All were experiencing sad reverses
at the same moment.
Oar manufacturers everywhere suffered Sc
vereIv not because of the recent reduction in the
tariff of duties on imports, but because there
was no demand az any price for their produc-
tions. The people were obliged to restrict
themselves. in their purchases, to artlcies oil
prime necessity.
In the general prostrctiOn of business, the
iron manufacturers in different States probably
suffered more than any other class, and much
destitution was the inevitable consequence
among the great number OF woTGmeh VINO nau
been employed in this useful branch oil our IN
dustrv. There could be no supply where there
was no demand. To present an example =
here conld he no demand for railroad iron af-
ter our maunifcent system of railroads, extend
inc its benefits to every portion of tine Union,
had been brought to a dead pause The same
have resulted from similar causes
In many other branches of useful manufacture.
It is selEevident that where there is no ability
10 puFchase manufactured articles, these can
not be sold, and consequently must cease TO De
produced - lr
No Government, and especially government
IF such limited powers as that OF the Unlted 1
States. could have prevented the late Teyulson,
The whole commercial world seemed for years C
% have been rushing to this catastrophe; Inc
anne ruinous consequences would nave loHo"eu
n the United States whether the duties upon ;
oreirn imports had remained as they were un- /,
er t6e tariff of 1916, OF had been raised to |
Ia q
10 AGENCY in the result. The general causes
xistinr throughout the world could not have !
cen controlled by the legislation OF any par il
icular country The periodical revulslons when A
ave existed in our past history must continue o
return at intervals so ong as our present un- Il
ouuded system of bank credits shall prevail n
7uev will, however, probably be the less severe
= f1t15re. because II is not to be expected, at n
east for MANY years to come, that the CONNER ta
ial nations Of Europe, with whose interests our G
vn are so materially involved, Will expose IT
themselves to similar calamities. But ihls SUD- 2;
ect was treated so much at large IN my last an 81
ual message that 1 shall not now pursue II Iur- bt
her Still, l respectfully renew the recomineit- to
alton, in favor Of the passage OF unborn u
ankrlpt law. applicable to banking institutions eC
his Is all the direct power over the subject pl
which. I believe, the federal government pos s.
esses Such law would mitigate, though 1t OF
,igbt not prevent the evil The instinct OF sell tn
might produce wholesome re- in
trsint upon their banking business, II they Ia
new, in advance, that suspension OF specie
ayment would inevitably produce their ciVll al
cath But the effects of the TevulIon are IN
ow slowly but surely passing away: The St,
Merry and enterprise of our citizens, with our n
nbonn6ed resources, will, within the period OF or
mother year. restore state of wholesome IN IA IA
ustry ard trade Capital has again accumula- de
I'd in our large cities; the rate OF interest Is ~
lere very low. Confidence IS gradually revl- h
ing. and so soon as it is discovered that this II II
apital can be proftably employed IN CONNER u
al and manufacturing enterprises, and IN the IN n
of railroads and other works ofPub pa
c and private improvement, prosperity VIII y
gain smile throughout the land. 1t Is vain, "
oveyer to disguise the fact from ourselves that er
speculative inhItion in our currency with
Drresponding initiation in other countries hose nj
Ianufactures come into competition with our an an
,yn must ever produce disastrous results to our
omestic manufactures No tariff short of alb n
olute prohibition can prevent these evil conse- n
lences. W
In connection with this subject It is proper to ia
fer to our financial condition The same ~
auses which have produced pecuuiary distress ef
ughout the country, have so reduced the a. IN
lount of imports from foreign countries, that re
ne revenue has proved inadequate To meet the Of
ecessary expenses of the government To Of
uppIy the deficiency, Congress by the Act of o.
he 23l of December, 1857, authorised the is c
ue of $50, 600 600 OF Treasury notes, and this fe
rowing inadequate, they authorised by the Act &c
f June I4th, ls5s, loan of S20,000,O00, to be G
pplied TO the payment of appropriations made o. o.
" law. No statesman would advise that we
hould 20 on increasing the national debt, 10 IN
,eet the ordinary expenses of the government; h
bis would be most Tuinous policy In case ~
f war our credit must be ouI chief resource, at
east for the first year. and this would be greatly S 81
impaired by having contracted large debt in pI