The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-07

eVtTy lnCOfpOfalOn
should be held to the extent Of third of the deposits
and circulation and that instead of notes being issued
u all denominations from dollar upward, the lowest
amount should forthwith be fixed at -, 10 De IN
creased a. some future period TO go. he also
urges that all backing Institutions should Dc SUP,
)ected TO bankruptcy law that would put an end
10 their existence upon suspension Of specie payments
this last being, in his opinion WITHIN the consul
iona functions of Congress and consequently such as
can be enforced the Union at the pleasure of
that body. Congress, however merely represents Tue
desires of the majority OF the States ana no restenons
generahy unpopular would be entertained by them AS
70 the compulsory retention of one third OF bullion against
liabilities and the entire abolition OF the small note crcu-
hton ali expectation Of such steps would be delusive
. Among the members of Senate and Assembly in each
State are many OF the active SPECTATORS who push them
ses; INTO and whose would at be
distracted by the establishment of any sound checks
IRON the Liverpool Mercury, Dec. o.
We have always shown ourselves sufficiently ready TO
forget Mr. Buchanan uncompromig antecedents as the
author of the famous Osend and the candidate Of
the slavery party and 20 anticipate wise and pacific po
hey from President whose age, experience and sagacy
ought TO raise him above the unscrapuous violence Of his
noser supporters. We cannot say, however, that we
gather from the message with which he has just opened
Congress any satisfactory continuation OF hopes whch we
have perhaps been too willing to entertain The tone Of
Mat document far regards foreign Powers, is in the
main cold naughty and dctaoria while, as respects the
domestic question most interesting to Engishnen, is Co
verify favors the views OF The unprnclped faction 10
which the President his elevation We are unable TO
inter that he is at all anxious 70 meet the conctory views
of government the still pending Central American
dispute and the question of the Kansas constitution he
supports far he decenty the preensons Of the
prOslavery Conventional body tainted in its very origin
with every kind Of fraud AUD violence.
On the Central American controversy nothing can well
be less conciliatary than Nj. Buchanans language. A
formal declaration that interest and desire of
the government and people both OF England and the Uni!
ted States to be ION terms of intimate friendship with
each other" the preface 10 arecaptalaon Of the his
tory Of the present dispute, in which Is pretty plainly
limited that Great Britain has from first TO last been gross
y and glarngy not wlfuy, in the wrong The entire
blame of the failure of the negotiations which, was
hoped, had been finally terminated by the treaty Of Oco
Der 1S56a treaty which Mr. Dallas concluded but which
the Senate refused to raty without amendments destrnc
tive of its essences quietly thrown on the English gov
eminent OF subsequent proposal initiated on our side
substitute for the rejected treaty, Mr. Buchanan
says, with offensive abruptness Ths proposition was OF
course, rejected New overtures we are told, "have
been recently made by the British government, in
friendly spr, ;" which the President cordially recpro
eates But he adds, whether this renewed effort will
m Srs ,er aM nU 10 the
while he recommends the abrogaon of the Clayton Bull
wer treaty, as an instrument only calculated TO pro-
long the differences IL was meant 10 adjust. The
least unsatisfactory part of that portion Of the
message which treats Of this question is the
declaration that " the interests Of the two coun-
tries Central America identical, being confined 70
transit all the routes the sthmus
This is true; but must add that England is not at
liberty consult her mere material interests in this
affair We cannot honorably part with the sovereignty OF
Belize and the Bay Islands without supuiatng that they
shall hereafter become slave territory This Is our
EDUCATIONAL and time honored policy" Human freedom
is peculiar domestic institution" If, as it would
seem the introduction Of stipulation TO this effect into
treaty with Honduras Of August 1856 (recited in the
aborsive frosty Of the October following with the
United constitutes the real objection of the Anne
Senate the late scheme Of settlement, must
that do not see any present chance OF the dispute
being satisfactorily closed.
IRON the london Star, Dec 23l
There many points in Mr.. President Buchanan's
message that provoke comment But We must conane
ourselves for the present 10 that which more Immediately
concerns ourselves, the state Of our relations with the
Western republic OF TIT central American question. We
must try 70 explain 70 our readers how the matter now
governments mutually agreed that neither would sever
occupy, forfy, coonze, assume exercise do
mnion Nicaragua Costa Rca the Mosquito coast or
any part Of Central America" This language seemed
pct enough but scarcely the ink dry on the sigma
lures OF those raaed the treaty. before there
the widest divergence opinion between the contracting
parties the meaning Of the words. The American go
vernment insisted upon understanding them IN tnei oov
literal Specification, as binding both countries to alb
sain or withdraw from the occupation OF any part OF
Central America tuosc particular portions expressly
excepted in the treaty IA favor OF England Our own
Cabinet the other hand declared that their nterprea.
Of the words OCCUPY forty, coonse, assume and
exercise Dominion, that they only forbade the fur
ther extension OF British occupation and rule in that
region As it seemed impossible 10 reconcile these
sashing constructions, anotpr solution Of the DIM
sulty was sought by The formation Of new treaty,
which negotiated between Lord Clarendon and Mr..
Dallas towards the close OF last year, one princi.
pal feature of which that Great Britain agreed
10 cede the Bay Islands four title 10 which was ono
q the disputed points under the former treaty. To the
Republic Of Honduras or rather agreed those islam Il
should be constituted free territory under the sovereign
~ Of the said republic This however, was coupled with
certain stipulaons which greatly restricted the free ac-
restrictions amounting in the opinion OF the American
Cabinet TO the establishment Of state substantially In
dependent within her limits, and state at all times
subject " British influence and control When therefore,
this submitted to t1e Senate of the United
ssates thai body struck the clause cmbodyng these
ptpuations ana subttuted another, containing sbso
hte recognition of the Bay Islands, as forming part
Of the Republic OF Honduras. The treaty 50 altered
was ratified by the President and sent back 10 this coun
try for similar ratification. This our government refused,
assigning says Mr. Buchanan, the only reason, that
the between this country and Hondyas, rs TO
he erms al
But lord Panerston, in explaining the matter TO the
House Of Commons some months ago. assigned two oAer
for the refusal grounded on question OF DIP
lpnatc form and usage and the other on the obJec'
uon entertained by Minister'S TO one of tho alterations
made in the treaty by the government Of the United
tHaAes The former explained by the Prime Minister
20 consist In this, that the American President had r
Red the treaty his par after having introduced into
X changes and notifications TO which had not yet
sonsented and that for government TO ratfy treaty
which having been altered oy another Power no longer
she treaty originally concluded, would be against all rule
The objeston Of substance 70 the omission Of the
puatons above described qualifying the concession OF
The matter was thus again brought dead lock Our
government next proposed anew treaty adopting all the
Modification introduced into the former by the
United saies provided the latter would consent W make
~ unqualified recognition 81 the sovereignty OF Honduras
the Bay Islands subject 70 the provisions and oon
Nous future treaty to be concluded and ratified
bssween Great Britain and Honduras. This certainly
sppesrs 70 have been very absurd proposition
knowledge they had Of the contents OF the former
convention OF England and Honduras were not likely 10
0nmnif themselves, 70 q bllnd acceptance oi announcer
treaty with that state, with the provisions Of which they
were wholly unacquaintcd.
such the present Of this wonderful diplomatic
inbroglo. How Il may end who foretellS Nothing
be clear than this, that, provided can have
security for safe transit the sthmus Cor
MERGE need have interest in attempting " retain
hold upon any portion OF Central America. We have
territory enough elsewhere, In all conscience. Our
boundess possessoas In North America, IN Australia,
n India and In South Africa, might, would think |,
uuthce to glut even the most earth.
sArips Of land In region where have
business whatever 10 be, and which expect
% occupy and retain without coming later
violent collision with nation proud, arrogant aud
dcmineerng as ourselves The idea OF between
this country and the United States such issues
Involved this Central American business, so utterly
that the very possibility of such thing
hardly credible But who tell what such spirited"
Minister as II Is happiness possess
plshS II the thing In 10 be done " these great
lions OF one race, language and religion be set by
the " the ncalculable interests In favor of peace