o I., ' .'4 (4Msl I . TIIOS. J. LEMAY, Editor and Proprietor. "flnrtlKaror.u. potoejrfunn tnttricctur, moral bud p&pcalce0uric-t&e Unft ot oup a-h-fa ano rlje feome of cue affection." THREE DOLLARS Yar; tyAdvjm.;; VOt3 RALEIGH, It. C . WEDNESDAY. JANUARY , ISIS. i-t ,,. .... ,,, H i a If PL fflnl IT IifflL.il - r InH ml OP . M I il 111 III A IB III II! iaTiW HI ,n III ll! I III BYI I'll 'ffl tsa V1 IP BffiMW WINTER AND SfKlNG SESSION or jUNDOl.PH MACON COLLEGE. r p HE Sitting Srttinn of lliie Intiirotron will emu 1 nttM on Wednesday, the 19th ot Jaiiaary. FACUM Y OP COU-KGE-W. A SMITH, D. I) iWideol aad Professor l Mental 4 Mml Philneopav. OAVII) DUNCAN, A. M. Prof, of Aoeieot fonrnares. fcZKIilEL A. RLANCH, A. M. Prof, of pun aad applied Mathematics. KKV.CIIA9. F. DKEM3, Prof, of Expert, mental Seienee-s. OLI VBK H. r CORPRFAV, A. B. Tator f Aa cieM Lanroae end MelheaMina. Or. J. 8CHIMMEL, A. Al, fnslrwelov el the Pmnh lngii(te. I'KINCtPAIA OP PPF.PARAT OH.T SCHOOLS. vV ILUAM T. DAVM, Principal or the Prepar. lory Sebool t College. -'.. . CHAhXKS B. STUART, A. a, Prioeipal of Ibt Preparatory School at Garysbgrg, N. C i Principal of the Preparatory A'cheoiat KWgewa,. N. C. The Collegiate year it divided into I wo aesaioea. The, trat brgme ft week! after, aod.taeseeoad HI weeks before, the 9l W ednelay wt Jane. To euea as tiesire lo enter Col leg , M iejmportaat thai I bey tie in alleadaaee at lit opening- ot Ibe aeawoa. A abort absence at that lima raajr place a Muiletit under limdvantstes whiah will impair hia scholarship threexaoat lha eeesWn. Our enorae ot atade ia ao arranetl aa lo meet tbe wanta of jroun meti wbo ilnire to aeqnire an itenaire Eiilib crtocatioa, wilhout MutliaK the ancient language. The bea tHi to be dorrred froaa tho Baa nt tbe Ubrariet ami troi alteuilanee .ota tba JJlerarf . Soatiea ahould atronlr induce auch joang men to urate;. " aula their atufiee Wie la orler for a aluifeal lo enter opoa the bagliak eoorte, he man be the roaghl acquainted with bagtiab Grammar, G. ography and Aritbmetie. t'be expenae of thie Inatitatinn are aa follow at Board per aeaaion" t-U'i Tniiion aad tlepoaila tee per aeuroa, ftM SU are for tbe Uollrgiatc )ear, rxelaaiv r incitUmitl exnenaea, whiali i civile the eoat of text aikt, lael, fumitore. be., lor room in College. We reeneelfulljr adtiae pa rent that more pocket laoaejr thaa aeecaiar lo eepuljf the rraaonable wanta ot a undent ia Mjori aa. 'Ilea praetiee nf eontraeting debia tab tt adce ten ia ihe aiuiaitf of Cnttrgn, la in a high degree prrntcioea. A la ot the State of Virginia, with a iw to provide a reraedr for thia ban of all Colle ge!, it to thia efleetf 1 hat any merchant who ahall git aredit H a Cotlree 'atatlent, wUhtmt frttil authtrity ffm hit partnf.tr UHnrihan, ahall, - Uliotf enieilUll Ot in uei, lurieii tue newt, loriett .bii lieaaaej'. W-W niwit- 500' I)rent awl gatrdiana have due regn4 lo kta raw, anti where H eaa he aeecaaary le npea aa aeaoaat with a Merebaut, let the indiidual be designated, and tbaamoont ipecifiul, and tbe evil will eeaae, j PREPARATORY DEPARTMENT. Tbe primary objtet ot the Preparatory Schoola, ia to prepare yuuig mea for College, bat the eoura of atmly i aueh aa lo meet the wants of Ibe neigh borheoili ia which they are located, and le qaalit aludeata for the ordinary eeeupataina nf life. Tbe School ia tb .vieiivity or College anatiaaea nderlhe dirrotinn of Mr. W. T. Uii, aa able aad aMseaaful Teacher, aad my own Immediate eupervieioa. - - a - ; lla Kiiiom and vaaatione are the aaaae a thoaa of the College proper. Tbe eoat of board, ate, ia a liltle leai thaa a atodent Ot College paya, Uoardingaad letlging hi prhrate familiea, iaela ding all auneitary rapenietv $10 per month. Tuttioa per aeaaioa for Claauaal alvdeata, (30 00 ,. ., m Engllah aiodiet, IS 00 For lha preparatory eehool at Uaryabarf we have nbtatacd the eereieea el Mr. Chariea R. Bieart, who graduated at our InatitoHoa with ha hhjheat bonora, 'aad whohaa been teaching with eminent raeeeaa ainee that lime. Hit acheol will aentmenee oa the 3rd Monday in January . The acWUaatie year will be divided into two aeaaioat ot five anaiht each Hoard aan be obtained la the beat lam diet at ( or $ 1 per month. The rate of tuition per aeaaion are for tireek aad Latin, $17 tor reading and apelliiig (10 i tr other Etigliab branebea $13 0 The acbool ia m aa eligible loeatioa, in an luiel litent and moral eommetiitr ia Nnrthamnton eoaa- ly. V. Us direotlv at the" joaetioa of the Porla- mnulli and Wilruingtoa llail Itoada. 1 he acbool at Kidrewav. N. C. ia ttill aaaop plied wkb a leaeher. Ot well qualified In take charge of thie aahool would nblain a profitable and tiermaoeal aUuation by apf liealipa to Ibe aubacri- I'eranna aendln to the Preparatory Department on acholarhip meat Bead ta ibe aehnol m tbe ! eiuily of College, anleaa totae apeaial arrangemeat liavla with tbe aubaeriber. W. A. SMITH. January A. 8-3c. - ' - For the Star Mr. Editor: Can.it be ilioagltt, that, in tills enlightened day, ilie labour of all tbe tliflerrnt MOcialiun, m put forth by them at thia lime, ate commensurate with the awful evils which arejdily growing out of ins seuing ami nsiag Aiuf nippnjr and of all tliat ther tlo. will it lie consid ered adequate to arreit the direful prorras and fie terribta havoc that it is waking with the youth. and the aged of our land It is no doubt coown to you, and the read, ing commttniiy, that it is cunlended by some, t- at it is only the prerogative of the Ministers end Church Mrmbers to stop thi tide of iniquity, If ibis is granted, vrhtt are the means used by them, and in what consist the, efforts which they put forlh to save the poor inebriate? Do tley go from House to House, to get heir af fections,, by treating lh.nv kindly ? and do Ihejt wach their Jta) snnmMtte, Ddiru urn Trtmti, and visit them after nights nf debauch, so as to-eooah and quiet their lacerated feelings, after the fumes of alcohol have gone offf And do they iit the wives of the inn;, .addicted husbands to hear their ta'e of woe, anl, if posssible, W wi and soolh their feelinys, by meeiinj their iinching wantt! Ntw, perhaps tome may hstre done' all this ifor a time bot have they followed imp,' tanlil they hare been the means' in ; tlie hand of tlod ttf bringins; back M their right mindu,'-ami, by . kind aetions end treatment, gettiie thent to desist from ail-that will eici'e or iitUixirate, and to prevail upon litem to hUo the eontpitny' of 'ttll,' nowitter how near and dJar they wtj be M them 1 as re lattons or friends, that would) -advi-e ' them o pattake of any thin that would inflame ort-xeite thjtmT ; Nothiii abort of this Can jeaeb and ave- the poor' ImtbriatM', 'and ;ft them from lb drnnknnrs' graire:-. Tkis has bt-eh the ptedaitif (tiboirr of lovr wUheneady eceiiiobs of all' temperinee oekttnme.'j.! -4 i i -7 tf'tt i't.".n.t i ...i in fxitoumiiu tuiie iMriout i Scripture, which denounce this great and ervinsr sin : such as, "No drunkard shall inherit the kinjrdem of heaven " And wo "unto him that petteth the bottle to his brother's line. . This lantruage ia of serious imoort : and the inquiry ought to be. how fur Ministers and Church Mem bers have participated in helping1 oa this worst of all evilst We lesve thia to their consciences tosav. we judffe no one. But it is thought that ery many or both clashes gie the whole of their influence in that war, by both using and giving 2! to others. ' New if they are the only author ised legs! agents appointed and set apart to do thia glorious work,' then ought they not to be the good Samaritans to' all poor inebriaieeT to visit, counsel, persuade, as sist and bring them ' back into their right minds, and save them from the drunkard's grave i and give the wholt of their influ ence to the sjdejpf.temperance and sobtie ty j lest the inepriates turn round and say to them, M Physicians, heal thyselvesT But theie is a question which is difficult to solve, that is, how csn those who are ad dicted to the bowl be benefitted by the Clergy from the sacred desk, when they seldom, or never enter the Church ; and even if they did, how could they be reach, rd by the teathed word, or even ly" the Holy' Spirit, when fbey are moat generally under the influence of the fumes of alcohol? But if it is atiil considered that the labours of faithful Pastors from the Pulpit is ade quate lo restore and save the drunkards, why ia it, that up to this lime, upwarae ol thirty thousand have gone down to the drunkard s grave annually ; and if it is to be considered a work of supererogation for Associations to exert themselves to save this class of persons, then upon whose skirts will the loss of so many souls yearly fall? Yet they are dying daily. and that too coming irom tne ran its oi those whtt4tM!.!?.dKtD PM4mm rxa!ly and truly the traw . materials Irom . which poor inebriate are. daily manufactured. But we think ihrt it can be truly affirmed, that not one was ever made uom the influence of real Tetotallers. , 1 hen. all mast see that the evil comes from and falls upon those who do not give the whole weight ot their influence with Ihe temperate). And it must be known. that the moderates, who use any kind of Alcohols, whether it be wine, beer, or cider, that the great responsibility must rest upon them t and what can be eaid of those, who contend for the manufacturing of sli kinds of liquors, and will also give their aid at all hazards by voting that Li censes may be granted lo sell all kinds of Atdenl spirits to the destruction of their own sons, neighbours and servants! it must be known that whatever a commu nity of this kind will sow, of the same they will .most assuredly reap ; and if they grant indiscriminate Licence, they must expect their childten to be ruined. In all towns where there is a small population, when in the course of a limited time, a certain number of their children and friends are destroyed ' by intoxication, and thet question .is put, who slew all these! it is not nf difficult solution to show, that it must be the makers, venders, and all who give their countenance and influence to it, during that period in which the deaths look place, pfot one fraction of ; the guilt Can be put upon the tetotallers,' for they touch not, taste no the unclean thing." Ana they only nave the sweet consolation to know that their influence was on the side of sobriety, hnmanitv and love for their species ; and, Mr. Editor, we believe that the time it not far distant, and that the day is even now dawning when the Minis ters and Church Members will see the great responsibility which they hve brought upon themselves, for contending that they alone are the only authorised agenta to do this great and good work. From this hour they should take .a bold stand and unite their efforts with all Associations to try to arrest this vast tide of iniquity , which ap ;i ? :j . pcara it oo wiut-niiig anu spreauing tne Stream o . woe daily. And now, at this very time when. Manufacturers, Venders arid .he users of all kinds of Alcoholic drinks are united as oneman in doing all the mischief they can, I ssy is it not lime for every Philanthropist, who feela for his peci'e, M come up in die help of tbe poor inebriates, which i'a truly a good work t ' For wtTiit will it avail us, at the last day,' to see so many of our near and dear relation and friends who have been destroyed by intemperance, while we were contending with each other, who were the nrnnar narnnle In rlii 4 hie IiImamI .twrtrkr- Stilt it has to be lamented, thai so many of the friends of Temperance stand aloof from this labour ol jlove, beeaute, as tbey asy, that So many of those who have been once connected with such, .associations, have c(hie back to tliefr eups again, . This, in some , respects, is lamentably s rue yet how many thousands have heeo e'aved from tin drunkard's grave, and have, made good citizens and very many have died in the belief or a common Saviour and . have gitne lo their final reward at his right band. Then let nonn stand back, but ra'hej be workers',' and thousand of mothers god chitdrenwill ' rise nd call you blessed". . , . . ;4 ,.iM .. fH.MOORE'. Y j j. . . - .i v. - . t f:t ijt!o Sill SON'S OF TEMPER ANCE It wlil no doubt hi "'graiififint t the nt ' J " rfftnniiranet' tmil- 'Morali ty, to ty, tu kjru fiat ll.e tl. Ur of ll.e Sons of Temperance in North Carolina, a progressing, and that during the last six imonths, it has advanced more than for the three years preceding: Several new Di visions have in that lime been instituted; men of the highest character and standing in the State have taken hold of the work, and the prospect of its extension through sur entire limits is becoming every day brighter. But we are satisfied thai an acquaintance with the Principles of the Order would ensure for it a more speedy entrance upon the good work of the many Phr'anthropiats and thorough Temperance men with wh!h the good old North State abounda. We call, t2n, upon every friend of humanity to give us their" aid in accom plishing the laudable, beneficent oCf phi lanthropic designs, which it is the , objeot of this Order to effect. By it the molt virtuous csnnot be sullied, so pure are its principles; the exalted in'tslent and worth be degenerated, eo lofty and ennobling are its designs, nor the joyous hilarity of youth and vigor be rendered melancholic, so viv- Hying and refreshing are the pellucid stream which flow from its chrystat fount. So sacred and pure are the principles which the Order tnculcates, that however eminent the aland ing of a man for Pietjr, Benevolence, arid all the Christian virtues. his connection with It, will be found but a nearer approximation to that character of which the blessed Redeemer spoke, when he said "Inasmuch as ye have done it unto one of the least of these, ye have done it unto, me." The next Session of the Grand Division of North Carolina, will be held in Fay- etteville, on the 20th instant, after which 1 hope to give you a more accurate account of the growth ol the Order in the State. I would remark, however, for tbe infor mation of the Public, that communications relative to the Order, asking information or otherwise,, if addressed to AutXAiiDKa M lUoajitAitOfAiMi. Sctrbe 4ll4ghi -will meet with the moat prompt attention. f O.S. For the Star. Mr. Editor ; I agree with "A Looker On," in Ihe Register that every true Dem ocrat is bound to go against the favorite of the Standard fur the Presidency, Jiuehan an, of Pennsylvania. How can any Re publican vote for him? ;He is the old Federalist, who wanted to let oat every drop of hia Democratic blood, if he bed any in his veins who was dead against the South on the Missouri question who voted for all the high Tariffs for Protection in I824-29- 33 and who wat . gmUv of fA vrwardonabie sin o tottnr tor IM abominable WKg Tariff of , U in ths fjoaxxa. SCOTT AND HIS GENERALS. The Washington correspondent of the Baltimore Sun gives the following state ments, in the truth of which he says the most implicit-reliance may be placed: . '1st. That all the differences between Gen.ls 8cott and Worth will be submitted to a Court of Inquiry, to be held in Mexi co. Both officers will be relieved from command and duty for this purpose 2d. Gen Pillow and Col. Duncan will be brought befora a Court Martial. These are facts. It may be that Gen. Tavlor wtll be put over Mexico, as commander-in -chief of the army, and having civil powers con tided to his judgment." ' It ia also lumored that Scott And these Generals are to be called home. -The whole matter remains in doubt. ' , SPEECH OF ME, CALHOUN, Inth Senmti tht United Stttet, Janua ry 4, 1848, upon hit Ketoluttont. Rttolvtd, That le caaqoer Mexico and to hold it cilhar aa a pro viae oc to incorporate it In the Union, would be ioconaute&t with the avowed object for which the War -has been praeeeated: a departure from Ihe act tied policy of the Govermaot; in sonnies wan tu character and feniua and ia tbe end, subversive of our free and popular inatitu lioos. ' Rettlvtd. That ao line af policy in the further proascauea of tho wat should he adopted which may lead to consequence to disastrous. , 1 Mr. CALHOUN said: in offeiinar. Sena tors ,thete resolutioosf or your cooside ration I am governed by , the reasons which induced me to oppose, the. war;, and by whien I have been governed since it was sanctioned by Congress. In alluding to my opposition to the war, I do not intentl to touch on the reasons which governed me on that occasion, further than is. neces sary to explain motives upon the present. 1 then opposed tne war, . not only be cause it might have been easily avoidedt not only .because the president had no authority to order a part of the ' d ie puled territory in. possession of the Mexicans to be occupied: by our troops; not oolyi be cause I believed the aUeraiiona anon which ivongres, sanctioned ihe war untrue.' bu from high considerations of noilcvt because I believed it would lead ta man' and seriras ejvils) to the country and great ly endanger its , tree institution. Bul after the war was declare),by authority of trie uovernmeot. 1 acquieseeu in t what I could not preveu, and which it waa ' im- possible for me to arresii, and l then felt it lo be my duty to limit my effmu to giving such direciicn lo the wares would, $a fat aa pwsible, pieveni the evils and danger with whirh' it threatened the country and ! its inafiiuiions. : For ties Diirnoseau'hei .last essiob.I sngg-sie J to the Senate the poli ey ruf adoiring a defi-psive line, and for the same purpose I now offer thete resolu- tioos. This, and this only, is the motive which governs me on this occasion. I am moved by no personal or party consid eraiions. my omect is neither t sustain the Executive nor to strengthen the A ... ae a opposition, nor simpty to aischsrge on important duty to the connlry: In doing so, I shall express my opinion on all points with the Ireedom and bold new which becomes an independent Sena tor, who has nothing to ask from the Government or from the. People. But when I come la notice those points on which I differ Irom the President, I shall doit with all the decorum, which is due to the Chief Magistrate of the U nion. I suggested a defensive line because, In tbe first placti, I believed that the only certain mode of terminating the . war ., suc cessfully was to take indemni! in our own hands by occupying defensively wiui our military force a portion of lha Mexican territory which we might deem ample for indemnity; and, in the next, because I believed it would prevent a great sacrifice of life and property; but, above all, because I believed that it was the only way we could avoid the .great danger to r Ntatiiu lipn against which these resolutions are Intended lo guard. The President took a different view. He recommended a vigorous prosecution of the war not for conquest that was emphatically disavow, ed but for the purpose of conquering peace that is, to compel Mexico to sign a ttenty ceding sufficient territory to indem: nify the claims of our citizens and of the country for the expense of the war. I could not approve of this policy.; I op posed it among other reasons, because I believed there was no certainty that ' the object intended to be effected would be aceompliahed, let the war be ever so succts, fuU ..Conjrreis 4hought- diflVrenilf, and vmitewsiirpta money. Tor carrying out the policy rreom menuea ty tne rresiaent. it n&s now been fully tested under the most' favorable circumstances. It has been as successful as the most sanguine hope of the Executive could have anticipated. Victory after victory followed in rapid succession, with out a single reverse. Santi ' Anna repelled and defeated with all his forces at Bueni Visfa Vera Crux, with its csstle. cintured the heights of Uerra Uorda triumphantly carrieu Jsisppa, rerote.anu t'uebla occu pied and after many triumphant victories under the walls of Mexico its gales opened to us and pat us in possession of the Cap- j ital. But what has all these splendid achievmenta accomplished I ' Has the avowed abject ol the war been attained? Have we conquered ! peacef Have we compelled Mexico to sign a treaty? Have we ootsined indemnity f No. Not a single object contemplated by the cam paign baa been effected, and what ia worse our difficulties are greater now than they were at the comrrieneeir enf and the objects sought more difficult to be accomplished. To what ia this complete failure lo be attri buted? Not to our army. It has done all that skill and gallantry could accom plish. 11,1s to be attributed to the policy pursued, The Executive aimed at iudem- nily in a wrong way. Instead of taking it into our own nsnus, when we had tern1 lory in our possession ample to cover the claims of our citizens and the expenses of the war, he sought it indirectly through treaty with Mexico. He thus put it oat of our own power, anil under 'the control of Mexico, to say whether we should have indemnity or not and thereby" enable1 her to defeat the whole object of the campaign, by simply refusing to treat with as. Ow ing to thia mistaken policy, after a most successful and brilliant campaign involving an expenditure not less probably than for ty millions ot dollars, and the sacrifice, by the sword and by disease of msny valuable lives, probably not less than six or seven thoussnd nothing is left but the glory which our army has acquired. ' " But as an apology for alt this, ft is in sisted that the maintenance of a defensive line would have involved as great a sacri fice as the campaign itaelf. The Pre sident and the Secretary of War have as signed msny reasons for nleruining this opinion. I.have examined them with care. 1 his ia not the proper occasion In d is mi is them, but J. must say, with all due defer ence they are, to ray mindjutterly follaciosj and to satisfy your minds that aueh is the case, I will place the subject ia t single point of view. . " r s'. ;'' The linejproposedT)y me,he which I sup pose tneir reasons were intended to be spplied, . would be covered in he whole extent from the Pacific ocean to the Paasa del Norte, on the Rio Grande, by the Gulf -r ri:r i .i . . . at vaiuviui anu mm wiioemest,' peopled ey;. hosuio trioea oi Indians through which no Mexican force could penetrate. For Its entire occupancy and defence, notli. Would be required bat a few small vessels ot war stationed in the Galf. and a tintrte regiment to keep'down any resistance from the, few inhabitants within. From the Passo del Norte to the mouth of the river, a Jiatanceofa few hundred miles, a single fact will show t; what liltle force will be necessary to lis defeat. ; It was a' frontier between, Textt and Mexico, when the lorraer lud, but ? an i ioeonsiUerablo por-u Utioti oot mora than an buacrcd and fifty thoasand oi (he utinoau at any time with no standing army; and hut every fe'wf iriegntar tionps; yet lor several yesrs she maintained ll. is lii.e wiihoul any except tlihl occasional, intrusion from Mexico, and that too when Mexico was (r more consolidated in her power, and when revolutions were not so frequent and her money resources were Ur greater than at present, H, then, . Texas alone under such ciicumstonces, could defend that frontier fm aa long a period, can any man beliese that now. when she is backed by the whole of the United Suites, now that Mexico is exhausted, defeated. and prostrated I repeat, can any man bliere that it would luvolve as trreat a sacrifice lo us of men aud money to defend mat imntier, as did the leat campaign? No. I hazard nothing in asserting, that to defend it for an indefinite period, would have required a less sum than the interest on the money spent in the campaign, and fewer men than were sacrified in carrying it on. , So much for Ihe past, ,. We now enme to the commencement of another campaign, and the question rerun, wbtt shall be j'.oe! The President in his message re- commenJi !he same line of policy vigor ause prosecution 0 the war not for con quest, that is again emphatically disavowed as - a or " ... l!4f ! not to dioi wexico out Pi we mi oi nations, no, he desires to ses her an indepnodart and fiouriahirtg eommtmity.v and- stsigtil strong reasons for- it-- but ia obtaitr so honorable peace. We hear no more of con quering peace, but I presume that he meant by an honorable peace the same Uunr; ihit is, to compel Mexico to agree to a treaty ceding a sufficient part of her territory, as an indemnity for the expenses . of . the war, and for the claims of our citizens. , I have examined witheate, the giounds on which the President renews lit recom mendation, and am again compelled to dis sent, there are many and powerful rest sons, more so, even, than thoae that existed at tho commencement of the last campaign. to lustify my dissent: Ihe sacrifice in .ny.vill be -vtlyfjeater.-Therc.:i!t I bill far ten additional regiments now before the Senate, and annoiher Tor twenty regiments of volunteer has been reported, authorizing in all the raising of an addition al force of something upwards of thirty thousand- I his in sddmon to that already authorized by law. will b sufficient . to keep an effective army in . Mexico, of not mueb. If any, lest than seventy thousand flic n, anu win ruiao uie gxpetiaca ui tne campaign to probably not less than sixty . ir . i - . r . i millions of dollars. . . : . , To meet so large an expenditure, would Involve, in the present and prospective condition of the money market, it is to be apprehended, not a little embarrassment. Last year money was abundant and easily obtained. An unfortunate famine in ' xfu- rope created a great demand for our agricul taral products., That turned the balance of trade greatly in our favor, and specie pour edjinto the country with a strong and tumily current.' No inconsiderable portion ' of, it pased into Ihe Treasury, through the duties which kept it full, in spite ol me large sums remitted to meet the expenses of the war. The ease is diflererent now, In. stead of having a tide ' flowing in equal to the drain flowing out, the dtoin it now both ways. The exchanger now are against us, instead or being in our favor, and instead of Specie flowing ' into the country from abroad.' it is flowing rout. In the mean time the price of stocks and Treasury notes, instead of being at or above par, have bolh fallen below, to a small extent. The effects of the deprecia tion of Treasury notes will cause Jthcm to pasa into ihe Treasury in payment of the pusloms and other dues lo the. Government as the cheaper currency,, instead , of fold arid silver while the expense of the war. whelhet paid for by lha , transmission of gbld and silver direct to Mexico,' or by drafts diawn lp furor of Briiieh mcrchanu or other capitalists there, will cause what ever specie may be in the vsulls of the Trensury to flow from it. either lor remit tance direct, on aecocnt of the ordinary transactions of the country, or to pay the drafts which may be drawn upon it,, and which, when paid, in the present elate ' of exchanges, wilt be remitted . abroad. But this process of paying in .Treasury notes, instead of gild nd silver-, and gold 'and silver flowing 'out in both directions, cannot continue long without exhausting its specie, " and leaving nothing to meet the public expenditure. , including those ot tne war, out i retury notes, wan they, under sucn circumstances, preserve even their present value? Is 'there not great danger that they will full lower and lower, ' and finally involve the finances of the Government and the , circulation of the country in the greatest embsr- rosmcnt and t dinicuityr ; - -- 'Is there not great danger, with this prospect before us, and with the necessity of raising by loans near . forty miCions, of a j Commercial and financial cri-da even possibly a suspension by the . bsnks. . ,1 wish hot to create panic; but there is, dan ger, which makes a great, difference a t financial and moniej point of vie w , be tween the state of things now and al the com mencement of ha last session. Looking to the future, it is to be apprehended that not a little difficulty will bare. t b en countered in raising money to' meet, the Expenses of the next campaign, if conduct, ted on the large seal which is proposed. Men yii may raise, , ,binj. poiVey will be found d flicult, tn obtain. t , It is', even to be apprehended thai loans will jiave, ,t' be negoiiated on very disadvantageous term for the public. In the presennt atate of thing, if they grow no worse, tblere torn be no resort to Treasury nntetw : They cannot be material ly' increased, without a ruinous depreciation,- and a traort tnuat be had, - exclusively, or alinort -eniroaly to borrowing. .But at 'the prevent prises sf etockf to borrow so large- a' aum a will he necMsaryf em only be donsn at a greatly increased rate of ' interest'! on the nominal amount of t tonk & lit recent conversation - with 1 a l gentleman, well informetl on this subject, he aaitf, ihot in his opinion, if forty millions are requir ed, a loan could not be had i fir snore than ninety for one hundred, which would be about at the rate of seven per cent; Theee are - formidable objections, but they are not the only mes that' are snore so than they were al the coremeneemmt of the last campaign.., I bold that the avowed object for the vigorous pros ecution of the war is ieea eerUin off bernjj : tealized note, than it waa then. - and ' if it ahoitld fail to be realized, it will leave- oar affairs in a fa worse rondiiion than they are at , present-: That objeot, as has been stated, ts to obtain an honorable -treaty; one) which to use tho langnaa-, of the Praeipant, will give indemnity for the post and aeenrity t ftir the Jujluiy,,-? treaty which wilt give us a cession ' of terri tory-, nnt only equst to aoT pre sent demtrnt for indemnity, but equal' la tho addition al demand equal to the entire t expenses to ne incurrru id conuueung-me oampaign; and a guarantee from the Government of Mexico for lis iaiihlul execulioa. i New, Senators, I hold that whether the . war is aucceasful or uoaucceaafuli there -ia not only no certainty that this ebjeet will be accomplished, but almost a . certainty ..' that it will not be,: j If the wartheonsueceaaful. if our arms should be baffled ta I . trust and believe they will not be; but , if, from any unfortunate; accident, such should be the case, it is clear that we - shall -not be 'AtdjHftigt piien tne nojeci imenaea. t un the oon trsry, if the war should bet sUcceMhil,: j if araoat. equally certain c lhatf in,,. tbiat case, tbe avowed object for ' nrosecuiiag the war vigorously will , nOr-.be accdin pliahedy . 1 , might ,.tke higher ground, and maintain that ; the more -successfully the war it proseenied. the more -eeruioty the object, avowed to;. be, .accomplished) will be defeated, while .the., object lia rowed would as ceruiol r f ba: aeompliiiU-r fd. ' ,. t.i ,nw-tif?i et- bi What it tho object of vigorous prosed cutioQ . of the , ; war! . How; can it be succesafull I esn see but one way of, maki ing it so, and that is, by t'SuwrcHinaT all resistance on-tbe part of Mxic, .lover powering and i dupetsing her, army and lerly overthrowing her Goy' inmenU1 But if that should be ; Jdnr s if;. ai vigorous prosecution of , Ihe . war- theuU. lead to that result, how are we.i lo,(eblaiin an honorable peace! .w With whom . ahall. we treat for indemnity . for j the, past and: security for theluturef t War may hemade, -by one party, but it require fwo ito make peace.; If , all authority , is over thrown (a Mexico, where will ba ihe power, to enter into negotiation, and make peace!, Our .., very..,' success would defeat,,, lhau possibility of snaking peacav, In , .tjv i case the W9t would not end in peace, but in conquest nol in negotiation, but in tubju t gallon; nd defeat, j I, .repeat, the, very 4 object yon aim to accomplish , and .jccom , lish that which you disavow to.. be yotif , mlentiori, by destroying the seperate xi-r, tenee of Moxico,. ver ihrowjng, b,ejp no,., Wonaliiy, and bloUinff out her aiame froirtu the list of nations, nstt ad. of leaving . hec, a free Republic, , which the, t President . , has ao esrneatly ( expressed. bis. dcaife ' If I Understand hi XIssngo eorreciIyVJ I have . his own authority for the i. coe-i t elusion to which I come.,? He ukes rvery i much tbe same i ?iew , that I do, aaptw how a war ought to be prostcnted tignr- ouslv, and w list would be iu resolu, with, " the .difference as to the latter, resting on na a slngto contingeony,. and Jbot-O' remote ft w one, , tie oaya t thuir tho great i, -difficulty1,' ol obtaining peace, result Irom .ihia, that O ihe people of Mexico. . are divided oodei'e' factioua chieftains, ; and , that i the t eliiefT in powei; dafe not make peace because fut m doing so he would be displaced by a rivals i lie also says, tbe only way to remedy this evil and lo obtain a treaty, it le put down the whole of them, including 'the one m -power, a well as tlie Others .Well, what thenf Arewe to stop, there! ,i Noj' Oaf General are, it, seems, authorised :to eo-.u Otinrage and to protect the well diapnelnk, in habitants in establishing , ft requblicart. '. Government . . He oaya they are numerous and are prevented from expreing tlteir,.,, , opinions "and making an attempt to.m, form such a Government only. by .feat tnose military eliieftains., Jle propoaea.; j when thev have thus , formed Aj Govern?,, ? ment, under lb encouragement, and pi?t) teciion of our army, to obta'a peace by .a, treaty with the Government thus, loVm, nf, which ahall give us ' ample indemnity . for the past and security for the future'" "l v muat say I am at a loaa to sea how a froi4 4 independent Republican can be establish -if ed in Mexico under .the U prnteetion rel - -anlhority of its eonquerers-e I can-readily' understand how a ar'iotocrary vr a' en-''l potio Go vernmet might be, but how-a free' republican Gore romrnl can be iso-'eaiatifiak' V ed, under icheircurnstre is totnei hw! eemprehenaible..; ; L Jvad .ltyeupoti ed thaasuch a Government mut be the spontaneous wish of' the people;- ih.it it must emanate from the hear. e." the pea

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