The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-03-25
The United States and Central An,erica-The Nica-
rogua Treoty-Companiesf formed IN the North and

The United States and Central An,erica-T The Nsca-
1dgua 1reoty-Comlpanies formed IN the North and
the South for the Cotonization Of Nicaragua.
WASHINGTON, March %, 1858.
The Committee OF Foreign Affairs of the Senate
have under consideration, it is said, a proposition
for the abrogation of the Clayton Bulwer treaty.
1t can only be abrogated by the mutual consent of
the two parties to its stipulations Either the Sen
ate or the President may take the initiative in the
proposition. The President has, in his MESSAGE in
Dictated the abrogation of the treaty as the wi sest
course, with view to termination of difficulties
in regard to Central America. 1t not worth while
further to complicate the subject by continued dis
cusson of the meaning ofthe Clay Bulwer treaty.
especially inasmuch as this Government will never
relinqush its own and manifesty correct interpre-
tation of it.
But renewed effort for an adjustment of the
questions In dispute has been made, and it is be-
lieved that the present ministry of England desire
its success.
The policy of our Executive Government, in re-
gard to the Nicaragua Transit has been deyeloned
in the treaty lately negotiated with Mr. Irisarri.
the representative of that State; and is probably
to be the basis of the policy to be adopted by this
Government towards Central American, and per
haps Mexican States. The uncertainty that hanos
over the final conclusion of this treaty tends to
barrass the question to the course to be pursued
by the United States in regard to Central American
affairs
Meanwhile private enterprise has been strongly
attracted towards the Nicaraguan isthmus and It
is, through its operation, that solution of the
question, far as American interests are CONCERN
ed, may be obtained. profitable field for
commerce or agriculture, mining, was never pre-
sented-not even that which was opened to the
American settlers of Texas or of the Pacific coast
movement towards the colonization and Ameri-
canization OF Nicaragua has been made by compa-
ny of northern capitalists under charter from the
State Of New York, and they. propose to send out
emigrants lay out cities, purchase lands and open
a trade. We now learn that citizens of the South.
to which section of the country the future of Cen
e
as commercially, have awakened to the Importance
of extending their influence in that quarter by OPEN
ing with it direct communication by steam, and
aifordng facilities for emigration and colonization
from the Southern States.
The Legislature of Alabama has chartered a COM
pany for this object, and it is to establish line of
steam packets between Mobile and San de Nicara-
gua and other ports on the Gulf of Mexico and the
Caribbean Sea. This line is to commence its trips
on the first of June The example of Texas is an en-
enlargement to enterprise in Nicaragua Texas is
now powerful and prosperous State, with million
OF people; whereas, it would have been, had it re-
manned under Spanish American dominion, a will
derness to this day, sparsely peopled by few Mexi
cans, Indians, and runaway negroes The Isthmiap
region is the most important commercial point in
the world, and such are its agricultural resources
that 1t Is capable of maintaining aprosperous popu-
lation OF many Millions Wash. States.
SHORT CREDITs-Sick people make good resolu-
lions, but forget them often with the return of
health, and go in the old way which surely leads
to recurrence of the malady So it is in business
Everybody sees and knows the evils of long credits
and lew months ago everybody resolving to
abolish the evil. Eight months should come down
to six-six months to four. For time, these good
resolves were adhered to pretty rgidly but we see
now, IN many quarters, symptoms of relaxation
One man gets tired of holding on for four months;
his article dull he wants to realize, and for this
once he will sell on six months This gets reported
to another holder of the same sort of merchandise
and he says: Well, if Mr.. A. has broken the rule
must, or can't sell; and so the old system gets
established again. 1t is said there is no teacher like
experience, and this saying, in limited sense, is
true. man will learn from his own experience, if
it comes in sharp lessons, but nothing from the ex
perience of others.
The following extract from a recent letter from,
Manchester, England, describes the system adopted
by the great manufacturing establishments of that
city in selling their goods and in receiving paw
ment. 1t shows that the principle of selling for
cash short credits is one of the elements Of the
prosperity of Manchester
1.-The general system upon which goods are
sold here is for cash-that is all accounts are paid
on 3is, particular day of each month fixed by the
all accounts the last Friday in each month, bv a
cneck on his bankers, and deducts y per cent
discount On the same principle all manufactured
goods and yarns are sold. Some houses prefer to
pay cash Immediately on presenting the account
and then deduct one months interest and
l12 per cent. Some manufacturers sell their own
cloth at their offices, others employ an agent and
pay per cent. for selling; Very few printers or
manufacturers consign goods. The few who do so
are wealthy men, and have houses abroad, and do
business both in imports and exports / should
think that more than 80 per cent of the business is
done on the system of cash payment The Ameri-
can agency houses here buy their goods on the terms
which have named, and settle as they NAV with
the New York importers. But few, if any, of our
printers send goods on consignment. This has been
done by the Scotch and Liverpool houses and the
result is now apparent. The banks have encour-
aged this business and present loss and distress
are the result Here in Manchester as the rule. all
goods brought up to the Oath of this MONTH are due
the last Friday of next month, and are paid by a
check less q per cent. This is called cash pay
ments. If bankers bill at three months was Of
Tered, it would not be taken. This system has, du-
ring the present crisis, (lS57,) saved Manchester
from many heavy losses"
We commend this system to the attention of our
readers, and especially we urge them to recall and
adhere to the good resolutions they have heretofore
made. little frmness on the part of sellers will
soon accomplish all that is desired but an occasion
giving way, here and there, will be fatal to re-
torm There many persons, doubtless, who
have never suffered directly by selling on long cred
its, but they have the general results of the
system, and we hope that, for once they will learn
wisdom from the experience of others-Boston
Journal.
AN UNENvIABLE D1sTINcrIoN.-It is stated. on
what appears to be undoubted authority, that the
city of Cincinnati, Ohio contains more groggeries
than any other city in the United States, except
New York.