The eastern clarion. [volume] (Paulding, Miss.) 1837-1863, 1858-12-18

have been diminished in nearly the same
proportion.
regret to state that the government of
Brazil still continues to lcyv an export
duty Of about II per cent. ON coffee. not
with-taudiug this article is admitted free
from duty in the United States. This i,a
heavy charge upon the consumers ofcoifec
in our country. a- we purchase half of the
entire surplus crop of that article raised
ia Brazil Oar minister. NEUTRALITY-SUSPICIOUS..
will reiteratc his efforts to have thi-,xrort
duty removed and il is hoped that tie
enlightened government of the Emperor
viii adopt this wise, Just. and equal policy
In that event, there is good reason To- bp-
lieve that the commerce between the two
countries will greatly increase. to the adj
vantage of both
The claims of our citizens against the
government of Brazil are not, in the ar-
gresate, of very large amount: but some
Of these rest upon plain principle of jus
tICc, and their settlement ought not g. bee
longer delayed. A renewed and earnest.
and ] trust successful effort. viii boz made
by our minister 20 procure their final ad-
justment.
On the III. of June last Conue-s passed
joint resolution authorizing the prc-i-
dent Ito adopt such measures and use
such force as. in his Judgment, may he
necessary and advisable ''ior the purpose
Of adjusting the difference, 'otw,,u the
United States and the republic of Para
quay. in connection with th. attack on
the United States steamer Water Witch
and with other measure referred to- i'm
his annual message. And on the 18th
July following. they made am appropria-
ton TO dciray the expense and comUcn-
sation of commissioner 10 that republic.
should the President deem it proper 10
make such an appointment.
In compliance with these cuactmgnts.
] have appointed @ commissioner. who
has proceeded 60 Paraguay, with fun
powers and instructions To- settle these
difference in an amicablp and peaceful
manner, If this Ice practicable His czue-
rience and discretion justify the hope. that
lac may prove successful in convincing the
Paraguayan government, that it is due
both to honor and Justice, that they
should voluntarily and promptly make
atonement. for the wrongs which they
have committed against the United
States. and indemnify our injured citi-
zcns whom they have forcibly de,poilcd
! Of their property.
Should our commissioner prove unsuc-
ccssiul after sincere and earnest c.t1r,.
70 accomplish the object of his mission
then no alternative will remain, but the
employment Of force To obtain '.iu-t -lt-
istaction' from Paraguay. In view of
! this contingency, the Secretary of the
Navy. under my direction, has fitted out
and despatched a naval force, 10 rcudaz-
I vOu- near Bucno- Ayres which. IL D. be-
/ LEVIED, viii prove sufficient for the oeca-
/ sion. IL l. my earnest desire, however
/ that il may not De- found necessary TO re-
I sort to this last alternative.
| When Congress met In December L-l
/ the business of the country hadiu-J been
| crushed, hy one otthosc periodical rcyUi-
/ -ions. which are the inevitable Cons'-
/ quencc OF our unsound and eztravagnu
/ system Of bank credits and inflated cur
/ reucy. With all the elements of national
/ wealth in abundance. orr manufacture
/ were suspended, our useful public and
I private enterprises We're arrested. and
/ thousands Of laborers were deprived o..
/ employment and reduced 20 want. Uni
/ veTsal distress prevailed among the com
\ morcial, manufacturing, and mechanical
/ classes. This reyul-IOn was felt the more
/ severely in the United States, because
/ similar causes had produced the like
/ dcplorahlc effects througlAut the com
mercial nations of Europe. All We're OK
/ pcrienCing sad revcrscs az the same mo
/ mont. our manufacturers everywhere
/ suffered severely. not because Of the re-
/ cent reduction in the tariff of duties on
| imports, but because There was 40 de-
mand at any price for their productions.
! The people were obliged TO restrict them
I selves, in their purchases. % article Of
prime necessity. In the general pro-tra-
tion OF business. thS iron Hanmaeturcr~
in different states probably suffered more
| than any other class. and much dysutu-
ton was the inevitable consequence,
| among the great number of Wofkmeu who
had been employed in this useful branch
/ of our industry. There could be no SUP
/ ply where there was no demand. To
present an example. there could be no
| demand for railroad iron. after our mag
/ niticent system of railroads, extending lt-
benefits To every portion of the Union.
had been brought to dead pause. The
same consequences have resulted from
similar causes to many other branches ol
. useful manufactures. Ii is Sel-eviden.
that where there is no ability To purchase
manufactured articles. these cannot bee
sold, and consequently must cease TO be
produced.
No government, and especially q gov
/ eminent ofsuch limited powers a. that
ofthe United States. could have proven
ted the late reyulsion. The whole com
mcrcial world seemed for years % have
I been rushing 70 this catastrophe. The
same ruinous consequences would have
| followed in the United State. whether
O 4 d O. D.. ...
! manned a. they were under the tariff CD.
1916, or had been raised 20 a much higher
| standard The tariff of 1857 had no a.cu
cy in the result. The general causes cN.
isting throughout the world. could not
have been controlled by the legislation %.
any particular country.
The periodical revulsions which have
existed in our past history, must continue
to return at intervals, So long a. our pre-.
cnt unbounded system oihauk credit shall
prevail They will. however probably b'
the less severe in future; because it's not
to be expected, at least for many year, q
come. that the commercial nations of Eu.
rope. with whoseinterests our own are .D
materially involved. will expose them.
selves 90 similar calamitics. But this sub
Iect was treated so much az large i'm Uy
lttN ttlillttftl AiittN Tlitl li't I''FN
pursue il further. Still / respectfully rs
new the recommendation, in favor of tn,
passage of a uniform bankrupt law. auult
cable to banking institutions. This is an
/ the direct power over the subject which
believe the Federal Government possesses
Such a law would mitigate. though Il
might not prevent the evil. The instinct
OF -eltpreservation might produce q
wholesome restraint upon their blukiu.
business, if they knew i'm advance. that
supervision of specie payments would incy
itably produce their death But the
effects of the rcvulsiou are now slowly bat
surely passing away. The energy and en-
terpri-e Of our citizens, with our unbouu
dcd resources. WILL within the period o
another year, restore q state of wholes0m,
industry and trade. Capital has again ac
cumulated in our large cities. The rat,
of interest there Is very low. Confidence
is gradually rcviying and so soon as il i
discovered that this capital can he prOlita
bly, employed in commercial and mauuac
turing enterprises and in the construction
Of railroads and other works of public an,
private improvement, property viii again
smile throughout the land. 1t is vain
however, 10 disguise the fact from our
selves, that a speculative initiation of on
cuTrency,wit corresponding initiation
in other countries whose manufacture
come intocompetition with our own, mus
ever produce disastrous results to our do
nestle manufactures. No tariff, short O
absolute prohibition, can prevent thcs
evil consequences.
Inconnexion with this subject. itisVroI
or 10 refer to our financial condition
5 The same causes which have produce.
= | pecuniary distress throughout the country
have so reduced the amount al import
r from foreign countries. that the rcvenu
t has proved inadequate to meet the ncor-
5 sary expenses of the Government. r
, | supply the deficiency. Congress, 10y the a.
5 Of the 23d OF December. 1857, authorize,
4 the issue of Sd. O0O0e0 Of treasury notes
r and, this proving inadequate. they an
| | thorized by the act of June l4th. Isl,
r a loan of S2O.O00.O0O "to be applied t
, the payment Of appropriation made b
p law"
S No statesman would advise. that W
: should go on increasing the national del
! to meet the ordinary expenses of the Coz
3, eminent. This would bc a most ruinou
2 policy In case of war our credit must b
] | our chiefresource, at least iorthe first veal
: and this would be greatly impaired b
I having contracted large debt in time q
r peace. Ii is our true policy, to incrcas