The national debt and the Monroe doctrine": how to extinguish the one and establish the other. A practical plan to secure the peace and prosperity of the Spanish-American states, and greatly to augment the commerce and wealth of the United States
yg^c?<:;^g5Qa<:;^g^^;c^g^^:^£^'^^ I LIBRARY OF CONGRESS, | Chap. .YA^\%,. Shelf ... I UNITED STATES OF AMERICA. \ U/ /'^, /yco^ THE NATIONAL DEBT AND THE ^^ RffiAAm^r B^^f^ff^ii ^ir ff HOW TO EXTINGUISH THE ONE AND ESTABLISH THE OTHER. A PEACTICAL PLAN TO SECUKE THE PEACE AND PROSPEEITY OF THE SPANISH- AMEBIC AN STATES, AND GREATLY TO AUGMENT THE COMMERCE AND WEALTH OF THE UNITED STATES. /M/:- n ^Vr'rv I ,,-> ■».* *7 Oo "H S ^ To the People of the United States : The political power of this country resides in the people: all questions, therefore, of general interest are here referred for decision to the " collective wisdom " of the nation. Whoever may seem to lead the public mind in any great movement is virtually but an organ, if his thought be not an inspiration, of the popular will. For nearly half a century the question discussed in the following pages has occupied the attention of our statesmen, and on several occasions been gravely considered by the Government. Again and again postponed, it has recurred and will continue to recur until the mass of the people shall be aroused to the wisdom and necessity of finally disposing of it. Brought prominently to notice by recent events its import- ance seems now to be more generally recognized. From the close of our late war to the present hour, thinking men have been seeking the best remedy for the acknowledged evil of European intervention in America, and the people seem determined it shall cease. Other bodies of Americans, composing what is known as the Spanish- American States, under the pressure of a more immediate interest and anxiety, are also enquiring : " How shall we secure exemption from European inter- ference ?" Now, therefore, as if from a common sense of wrong and of danger, and with a common purpose to complete the work of American independence, the brotherhood of nations on this Continent are earnestly moving toward the settlement of the question upon principles of reciprocal advantage to the American Powers. //^"The co-operative system of international relations herein indicated, between the independent States of America, if adopted and fully carried out, will, it is confidently believed, prove a solution of the difficulty and embrace other great and desirable results, as follows : First : The security of the independent States of this Con- tinent against European intrigue and intervention, and of the Colonies here established against any change of dominion, except by transfer to some American Power, or by the achievement of their independence. Second : A stable government in each of the Spanish American States participating in the arrangement and permanent relations of peace among themselves and with all other nations. Third : The rapid development of the vast resources of the Spanish- American States, and the diversion of their im- mense foreign trade, thus augmented, into the ports of the United States ; and, as one of the fruits of that profitable trade, the payment in a few years of our national debt. All this in the interest of peace; directly productive of the largest benefits to the people of the countries more im- mediately concerned ; and incidentally promoting the welfare j of mankind throughout the world. The facts adduced in support of the plan herein suggested are from the most trustworthy sources, and the data whereon estimates of commercial results are founded, may, in the main, be verified by statistics compiled under the direction of the United States Grovernment; or by the Balances Gene- ,. rales, of universal authority. The Spanish - American States comprise the richest portion of this continent, and yet their native wealth in the main lies dormant, owing to revolutions, begun with their war for independence, and continued, with brief in- tervals of peace, to the present time. Unfortunately the legacy left them by the despotism overthrown by their arms was far different from that preparation for self-government with which we assumed a place among the nations. We had received from tradition, and practised in our local legislation, principles unknown to their Colonial system. We had pre- scriptive rights, and our obedience was due to laws either of our own enactment or binding equally the colonies and the mother-country. They enjoyed at the best but privileges, granted and with- drawn at the pleasure of the Crown, or of corrupt Viceroys, and creating monopolies in the hands of a few, oppressive to the mass of the people; the obedience demanded of them being unquestioning submission to arbitrary authority. Hence, they have had to learn by experience the self-control and practical statesmanship which were our birthright. Besides, they have always had in their midst a faction, rep- resenting the old monopolists and Court favorites, secretly exciting discontent, and ever ready to betray them for a price, as has recently been done in the case of Mexico. In the absence of security to person and property they have not only failed to derive from immigration, and the natural increase of their population, the benefits which have so richly endowed us, but the labor and capital at their command have lacked, the one the incentive, the other the exemption from hazard, indispensable for their most productive employment. And yet their population has nearly doubled since they gained their independence. The people of those countries, taught by experience and not inattentive observers of the progress of the United States have learned that the foundation of national prosperity must' be laid in a stable government, changing its functionaries only by the will of the people according to its organic law. Convinced that it is time to place themselves in a position which would secure them against both domestic strife and foreign aggression, thus enabling them to invite immigration, rapidly to people and develop those vast regions of incalcula- ble wealth; and confident of their ability, with the requisite moral influence, to maintain the Governments they have es- tablished and thereunder to reach a high degree of prosperity, they appeal to the United States, who, by a seasonable recog- nition, helped them to achieve their independence, for the moral aid now required to confirm it to their posterity. They appeal to the friendly power, who, after acknowledging their national existence, once saved them from reconquest, to avert the danger now threatening them from the same quarter. They are our neighbors — members of the American family of nations — and as such have our sympathy, and are entitled to our good offices. The revolutions that freed them from bondage were inspired by our successful struggle, and the Governments they framed, and are yet striving to uphold, were, many of them, modeled after our own. To extend to them now the friendly hand they need would be to honor tlie example and give effect to the purpose of our fathers, whose tacit promise of continued friendship we should thus redeem, and at the same time gracefully discharge the obligation annexed to the position we occupy as the leading nation on this continent. It would seem therefore to be our duly, if it can be done without injury to ourselves. But loe shall thereby he largely benefited. There is too a political consideration of momentous im- portance, which has from time to time formed matter of grave deliberation and concern with our Government, and now demands the earnest attention of the people. It has long been, among the nations of Western Europe, a cherished purpose to divide and weaken the United States, whose great and growing power filled them with jealousy and alarm. Those of us who before doubted the fact have been convinced of it by the conduct of some of those Powers during our late civil war. Within the last four years we have seen an at- tempt, by armed intervention, to subvert the authority and control the internal affairs of a neighboring Kepublic; and on its ruins to erect a so-called Empire, essentially of Euro- pean institution and evidently to serve European aims. The object having been to enable France to gain such a foothold on this Continent as to give her an interest and influence in its affairs equal to that of Spain and England; and, to strengthen the alliance, with ulterior views, Austria and Belgium were committed in the person and family of the so- called Emperor of Mexico, The plan concerted, and yet to be fully executed if permit- ted by our Grovernment, was : after the conquest of Mexico, and the consolidation of the new Empire, to take possession of all the other Independent Spanish American States, one by one, and, under various pretexts and counterfeit tokens of popular consent, to parcel them out among the several par- ties to this European enterprise, the aim of which is nothing less than to ohtain and wield the controlling power and in- fluence, both political and commercial, of all America. The course pursued by Spain, since her withdrawal from the Mexican adventure, is strongly indicative of the continuance of the alliance as to that Power, with the covert design here- in charged, she having declared war against others of the States, once her colonies, upon more trivial grounds of differ- ence than existed between her and Mexico. The reason for the recall of the Spanish troops from Mexico would seem to have been the opinion that they were not needed in that direction, while in another quarter they could do service in aid of the general scheme. Such is now the condition of affairs, that the United States have either to sustain the constitutional government of Mexico, become the keystone of the arch of Spanish-American independence, or else consent to the establishment upon our frontier of a monarchy against the will, and despite the armed protest, of the Mexican people. If we embrace the latter alternative it will be a departure from the policy we originated, and from which we have never deviated in our intercourse with other nations; namely, to recognise all governments emanating from the people, inquiring only as to the fact of their formation from within. This so-called Empire having received its initial impulse, its organization and its support from without, cannot justly claim to have proceeded from, and to express, the will of the people it assumes to govern. For us to recognize it would be to disown the " American System,'' our own offspring, and to transplant among the nations of America the theory and practice of European monarchs. But, any direct interference on the part of the United States would inevitably result in a war with one or more of the European continental Powers, secretly encouraged by Great Britain, for the sake of the " carrying trade," and other privileges of a neutral, with possibly the promise of Cuba upon the condition of the restoration of Gibraltar to Spain. The answer of M. Drouyn de Lhuys to our minister, in re- lation to the treatment of prisoners of war in Mexico, far from showing it to be the purpose of the Emperor of the French to recall his troops, before their place shall have been supplied by other foreign forces, is evidence that he has allies pledged to his support, as he is pledged to the support of the Austrian Archduke. Nations, when they mean to pursue a concilia- tory course, are always courteous. But, as in this instance, they are sometimes uncivil, when they would provoke hasty action, which they hope to make available as a plausible pretext for the open execution of a secret plan. Such a reply would not have been made had the fate of his experi- ment, in Napoleon's conception, depe-nded only upon Maxi- milian's ability to carry it out with our consent. The position lately assumed by Lord Clarendon, and his abrupt conclusion of matters in controversy between England and our Government, viewed in connection with the disposi- tion toward an equitable settlement evinced by his predeces- sor, tend to show that England is now privy, if not a party, to this alleged secret understanding. The address of the Emperor of the French, at the opening of the Chambers, gives no assurance of the withdrawal of his 8 troops from Mexico. If it did, and named the time therefor, it would not follow that the wish of the people of the United States would be respected by a reference of the matter in question to the untrammeled decision of the Mexican people. Napoleon and his protege will not "fix the epoch for the recall" of the French troops until Austria and Belgium shall have furnished their contingents. These, though they come not in armed battalions, will nevertheless be foreign recruits, in the interest, and destined to execute the purpose, of the allied European powers, by continuing to coerce the will of the people of Mexico and maintain a cause unfriendly to the United States. Interpreted by the light of the bold assertion that the so-called Empire is founded upon the popular will, the promise to retire from Mexico may well be taken to mean no more than the purpose to leave Kome — so often avowed within the last six years, and yet unexecuted. The main branch of the promise is to protect what are called "French interests"; the subordinate branch to recall the troops when the work in which they are now engaged shall have been finished. "I am making arrangements," says Napoleon, "with the Emperor Maximilian to fix the epoch for the recall of our troops, in order that their return shall be effected without compromising the French interests which we have been to that distant country to defend." Instead of removing " the cause of emotion" this usurpation of dominion has, by his own confession, given our people, the Emperor's address is as little satisfactory as the language of his foreign Secretary to Mr. Bigelow. Both are ambiguous and evasive, and corrob- orate the direct testimony of the organs and agents of Max- imilian, here and in Europe, to the existence of a league pledged to sustain him as herein charged. Though the levies sent to relieve the forces now upholding the new throne be not immediately organized, and its incumbent be thus osten- sibly abandoned by all of his allies, such a procedure would be but a ruse to open a door for the entrance of aid to the Constitutional Government of Mexico from the United States, and thereby to provide the occasion sought, for a combined movement of the associated European powers. If indeed the copy of the convention concluded at Miramar, which has been published, be authentic, Napoleon is thereby pledged to keep in Mexico the French troops until their place shall have been supplied, and, for six years after the recall of the French forces proper, to maintain what is called the "Foreign legion in the service of France," composed of eight thousand men. Furthermore, provision is made by the treaty of Miramar that at all points where the forces are not exclusively Mexican they shall be commanded by a French officer. Now, as we are desirous of preserving amicable relations with the European powers, the question arises: what should be the course of the United States toward Mexico and the other independent American States, so as to encourage them in maintaining the Grovernments we recognize, and, at the same time, to avoid war with European nations ? This desirable end may be attained, in accordance with the wish of the Spanish- American States, by an arrangement, in strict conformity with our general foreign policy and in violation of no principle of International Law, which would tend greatly to our own security and aggrandizement. The suggestion about to be made is of no novel national policy claimed to have been originated, but simply a practica method of making efficient, without war, that wise American 10 policy, by some of the Fathers of the Eepublic discerned with prophetic eye, and by one of our Presidents, with the approval of the author of our Declaration of Independence, proclaimed as the position then assumed and to be main- tained for all future time by this country, in reference to European interference in the internal affairs of Independent States, and as to attempted transfers of Colonial possessions, on this continent. The popular instinct, which is the instinct of self-preserva- tion, now endorses this policy of our Government with re- markable firmness and unanimity, our people being undecided only as to the means of carrying out the policy without en- tangling or embroiling the United States with any European Power. A majority of the Spanish- American States, if assured of the approval of their purpose on the part of our Government, propose to form an alliance among themselves for mutual protection against both internal revolution and European ag- gression, and stipulating that in future any difference or misunderstanding between any two or more of the contracting Parties shall be referred for settlement to an Umpire to be chosen from among the American States. Meantime, upon the joint invitation of a majority of the Spanish- American States, presented to our Government by their representatives, a convention may be entered into of a different character, not involvmg domestic interference, but having for its object the enforcement of our continental policy. The United States engaging to recognize no Government on this continent the establishment of which shall be attempted by European in- tervention. All the American Powers embraced in the con- vention agreeing to make common cause against any Power 11 or combination of Powers, not within the territorial limits of America, actually undertaking the subversion or control of any independent American Government now, or hereafter to be, established. All the parties to this convention to resist any change in the national dominion over any of the European Colonies in America, unless it be by transfer to some American Power, or through the achievement by such Colonies of their independence. The Spanish American States, parties to this understanding, further agreeing that the United States shall have, over all nations not domiciled in America, every advantage in trade and intercourse con- sistent with existing treaties. This would bind us only to maintain the position we have already of our own motion assumed. It is evident that such an arrangement would make a revolution impracticable in any of those Spanish- American States so uniting; for no ambitious leader would dare at- tempt to overthrow the legitimate government, if it could command the aid of one or more of the neighboring States. Hence, as a result of moral influence, without the exercise of physical force, those countries would settle down in a state of peace. Through a liberal commercial system, and inducements to immigration — such for example as already, much to her advantage, Brazil has begun, and in which, for its improvement and extension to this country, she desires the co-operation of our Government — their genial and varied climates and great natural resources would largely attract labor, capital and enterprise from abroad, to result in such and so rapid a development as at an early day to produce unexampled prosperity and an immense foreign trade, the greater share of which, with due encouragement from our 12 Government, and appropriate facilities for communication, would be enjoyed by the United States: The increase of our commerce from this source would defy all calculation. Nor would the political effect of the proposed arrangement, once made and promulgated, be less important or less desirable. The alliance already formed, or in process of formation, be- tween the Potentates of Western Europe, would then be paralyzed. All Europe combined would not dare invite a conflict with this country, thus supported. Therefore, the measure herein indicated would seem to commend itself to favor, as eminently adapted to prevent a foreign war, and as providing a sure remedy against European intrigue and in- terference in the political affairs of America, which will other- wise certainly continue to disturb the peace and endanger the permanence of every independent government on this conti- nent, unless checked and expelled by a resort to arms. The dangers to us of complications and collisions with Eu- rope have been increased and are constantly multiplying as an effect of Steam communication, which has brought us in- to relations more intimate than formerly belonged to nations separated only by mountain ranges or large rivers ; and yet, the political interests of Europe and America are as diverse and irreconcilable as when communication between the two continents was irregular and infrequent. It is also to be con- sidered that the European Powers are not only bound together by common interests and sympathies, but so connected by Eailways and Telegraphs as at a moment's warning to act in concert in their plans, and quickly to concentrate their several forces when determined to combine them. Hence it behooves us by wise precautions to present an array of poAver suffici- ent to make the experiment of putting it to the proof too 13 hazardous for prudent Sovereigns to try. We shall thereby restore and make permanent the peace of this hemisphere, and earn the gratitude of mankind by bringing to naught the effort to introduce a new element of discord, and beget a war of races, in countries designed by Providence for the reconciliation and common possession of all the races. Un- less the counsels and aims of narrow interests shall prevail over the doctrine that the rights of the people are to be pre- ferred to the privileges of any class assuming to govern with- out authority from the governed, America will be the peace- ful home of all kindreds, creeds and tongues, who may, in their several communities, cultivate the arts, amenities and intercourse of a high state of civilization, with honest rivalry, but without dissensions because of difference in origin, in religion, or in their form of government. With a view to the large benefits thence to arise, as well as the common dangers to which we are exposed, a wise fore- cast should, it would seem, prompt all the ia dependent American States to strengthen their position and prepare the way for future prosperity, not only by harmonious action in a temporary emergency, but by drawing together in closer connection the remoter parts of all the countries concerned, through regular and frequent ocean mail steam communi- cation, and a net work of Eailways and Telegraph lines, which would ensure both the rapid conveyance of intelligence and a profitable interchange of commodities. The natural result of the adoption of the proposed arrange- ment would be more advantageous to our people than is apparent to those who have not carefully estimated the pros- pective increase of our commercial and manufacturing inter- ests when stimulated and fed by the mobilized resources of 14 an immense territory, of surpassing fertility and inexhaustible mineral wealth, wherewith, our present trade is as nothing in comparison with its capacity for augmentation. It would soon relieve the country from the burden of taxation and high prices, now so sensibly felt ; for it would enable the Government to pay off the national debt in a few years, leaving the country with the vast wealth of all America still flowing into its ports and enriching its treasury. While our people are resolved to maintain the dignity and honor of the country, there is yet an almost universal dread of political and financial trouble to grow out of this matter of European intervention. This cloud would be dispelled and give place to a cheerful confidence in the future on the announcement of the adoption of such a measure. There is already some manifestation of discontent with the burden entailed on us by our civil war, less because of its weight upon this generation than from apprehension of its continuance and transmission to our posterity. Let it be known to the body of the people that a feasible plan is to be put in operation, whereby, from an increase in commerce and foreign revenue alone, in less than twenty years the National Debt may be extinguished, and the effect would be magical. Our entire population would take heart and hope and be nerved with new life and energy. It is proposed, therefore, to show by the briefest possible estimate, founded upon ofiicial statistics, the probable and almost certain growth of our foreign commerce, and conse- quent increase of revenue, to flow from this arrangement, if made effective in its commercial as well as its political aspect. The Spanish American States have a population of 35,000,000, one- sixth greater than ours, and an area of 15 7,500,000 square miles, two and a-half times that of the United States. The annual value of their imports is $240,- 000,000 ; of their exports, $263,000,000— a total foreign trade of $503,000,000 ; an absolute value only 17 per cent, less than ours, and but 20 per cent, less per head. The share of this five hundred millions of commerce now enjoyed by the United States is only 114,000,000, although nearly every article we produce or manufacture is consumed by those peojjle, and we consume, or could manufacture and return to them for their use, almost every commodity they export. {See Butterfield' s " United States and Mexico," pp. 33-39 inclusive.^ In 1856, Great Britain had nearly $83,000,000 more of this trade than we. Her proportion of it is now much larger. The value of the imports into Chili in 1864 was, by official statistics, $18,867,363. Of this, England exported 43 per cent.; France 20; the United States but 5 per cent. Nearly 5,000,000 of these imports consisted of products and manufactures in which we excel the rest of the world ; and yet we furnished but 10 per cent, of them. In the South Pacific coasting trade, of which we should have a large share, it seems we participate only to a very small extent, by sailing-vessels. The English have now in the South Pacific, 25 steamships ; the United States, not one ! The ability of the Spanish American States to sustain a much larger foreign trade is shown by the results already at- tained in some of them ; for in natural resources they are all nearly equal. The foreign commerce of Cuba is 300 per cent greater than ours, in proportion to population; that of Chili 30 per cent greater ; that of Brazil nearly equals our own in the same ratio. (''Z7. S. and Mexico," pp. 36.) 16 The Government of Brazil, in the scope and liberality of the commercial system and the reinforcement of all branches of internal trade and industry it has introduced and is laboring to perfect, through encouragement to immigrants and the beginning of an extensive Steam Commercial Marine, will soon have a largely increased foreign trade and a greatly enhanced prosperity, as is evident from the stimulus already imparted to private enterprise and the effect in growth of population and general business experienced as the direct result of the fostering care of the Government, aided of course by the application of the individual means and energy of an enlightened and enterprising people. Nothing but the want of tranquillity, and the absence of means of communication, prevents the trade of any of those countries from equaling, per head, the present trade of Cuba, which last has by no means attained the maximum of its ca- pacity. With proper facilities for intercourse, there is no rea- son why their commerce with the United States should not within ten years amount to $1,000,000,000 per annum. The annual yield of the silver mines of Mexico might easily be made to exceed in value the gold production of California ' its control secured ; and its benefits enjoyed, by the United States. Our trade with Mexico alone increased, in propor- tion to population, to what it now is with Cuba, would be $237,000,000 per annum. Our entire trade with Cuba in 1858 was $41,648,037. The value of her exports to the United States was for that year $27,214,846; her population being about 1,500,000. ("Z7, iS. and Mexico," ^p. 32-40 inclusive,) The annual value of our commerce with all Spanish Ameri- ca, increased in the same ratio, would be over $968,000,000. 17 Of this sum, taking the exports of Cuba to this country as the basis of calculation, the annual value of their exports to the United States would be $569,300,000. It may be objected to this basis that our trade with Cuba is excep- tional, her exports to us largely exceeding ours to her. But any apparent unfairness in the estimate is not real. This country consumes an enormous quantity of the articles form- ing the greater part of our imports from Cuba. We can never meet the demand by home production, our soils and climates not being adapted to the most valuable of those pro- ducts. The increase of our population and wealth would so augment the consumption of those commodities, already large- ly exported from some of the Independent Spanish American States, that, though not maintaining the same ratio between exports and imports as now obtains in our Cuban trade, which is surely undesirable, the ratio to their population of the value of the exports to us from all of the Spanish Ameri- can States would equal,, if it did not far exceed, what that of the exports of Cuba to us is to its population : With this de- cided advantage to us, due to the arrangement herein sug- gested, that, instead of adjusting the balance of trade as with Cuba by the payment of specie, we should settle it by receiving specie, owing to the immense demand those countries would make upon us for our fabrics, machinery &c. Cuba is of necessity the starting point in our calculation, because it is the only one of the Spanish- American countries with which we have had for a sufficent period regular mail steam communication. To return : The receipts from customs on $569,300,000 — the estimated annual value of our imports from all of the Spanish- American States after the establishment of the in- 18 tercourse contemplated by this plan — at the average rate of duty for the fiscal year ending June 30th, 1863, 31J per cent., would be f 157,621,600. This percentage is obtained by comparing the value, of imports, — $262,287,587, less, for undutiable goods, |44,826,029,= $217,461,556 with $69,059- 642, the receipts from customs for that year. {Ex. Doc. No. 3, 38i5A Cong.) The average of duty, under the amended Tariff Act now in operation, is believed to be at least 50 per cent. But suppose it 40, this trade would yield from customs $227,720,000 per annum, without increase of population; amounting in fourteen years to $3,188,080,000, nearly $200,000,000 more than our National Debt, according to the estimate for the close of the current fiscal year. Allowing two years, and less time would be needed, to perfect the working of the system, the debt could be discharged in six- teen years, without considering the effect of each annual con- tribution in paying off maturing Bonds, ifo small benefit would thence enure to the people in. lessening the interest to be met by Internal Kevenue; for it would make practicable a gradual and rapid reduction of the direct tax. The Internal Kevenue will pay the interest on the debt. The duties on imports from other countries will defray the current expenses of our Government. So that the duties on our imports from the Spanish American States may be wholly applied toward the payment of the national debt. But let us suppose $25,000,000 of the receipts into the treasury from that source have to contribute toward the pay- ment of the expenses of each current year : that in sixteen years would amount to $400,000,000, which would involve the extension of the limit to seventeen years, — the sum of the surplus over $3,000,000,000 added to the annual yield being nearly $425,000,000. 19 Certainly but one or two months beyond the seventeen years would be required to complete the payment of our national debt, according to this view of the effect of in- creased facilities for trade and of internal tranquillity, and, instead of exceeding, it is believed to be far within the reasona,ble promise and legitimate result of the arrangement. Let us now estimate our increase of trade, and the receipts thence to arise, from actual results brought about by im- proved means of intercourse and trade, taking Cuba again as an example, for the reason before assigned. In 1850, United States Steamers commenced touching at Havana, Our total trade with Cuba for that year was #15,282,625. For the year ending June 30th, 1858, to which it had grown gradually but rapidly through preceding years, it was $41,648,037 — an annual increase in eight years of over $26,000,000. ("[7. S. and Mexico," pp. 50-1). Applying this rate of increase, as before, to all Spanish America, we have in eight years an annnal increase in trade of over $606,000,000, and an annual value of imports into the United States of ^635,800,000, (estimating from Cuba's exports to us) which, at the average of 40 per cent., would pay into the treasury at least $254,332,000 per annum, or a total in eight years of $2,034,656,000. The receipts for the previous eight years, according to the rate of increase in the case of Cuba, would be at least $1,000,000,000, or a total of $3,034,656,000 in sixteen years — enough to pay the debt and leave a small surplus. But the estimated is far less than the probable actual re- sult. The growth of population, from natural increase and from immigration, with every branch of industry thereby stimulated, would so augment the foreign commerce of those 20 countries that we might safely calculate upon an aggregate of revenue from this source, within ten years, of at least $4,000,000,000, as the fruit of the plan proposed, and the enterprises which would be fitted out and commercial facil- ities furnished by American merchants, under the protection of their several governments. Should the proposed convention be concluded, it may be thought advisable to establish at Washington, under the auspices of the contracting Powers, a Bureau, charged with the duty of collecting and preserving accurate information of all the countries embraced in the arrangement, and of report- ing thereon to the respective Governments whenever directed so to do; with a full and detailed annual report, showing the progress in industry, population, commerce, and wealth due to the influence of the arrangement, and recommending such new features in its own system as experience shall dictate. The archives of this office would constitute a reservoir of valuable information, competent to supply the wants and guide the action of commercial men throughout the continent in all the international relations of trade. With a reliable record of the statistics of supply and demand in all of the different American markets, the merchant would be at no loss in making up a cargo and choosing its destination, and purchasers would be furnished with the means of deciding where to procure on the best terms whatever commodities they might require. Capitalists desirous of embarking in mining, manufacturing, or other enterprises, would here find the data requisite to enable them to determine judiciously the site of their operations; while inventors, engineers, and other men of skill and ingenuity would be directed to appropriate and remunerative fields of labor. 21 It is believed tliat such a medium of intelligence would meet a want which has been long and seriously felt by com- mercial men, and that it would prove an invaluable aid and stimulus to profitable intercourse between the ports of the different countries. Enjoying the facilities for investigation which would be afforded its agents by the several governments under whose countenance and authority they would prosecute their in- quiries, the Bureau would be incomparably superior to any private system which could be devised. Free too from any bias of personal interest, its testimony could be appealed to with absolute confidence in its truth. To crown this plan with success it would seem to be necessary that all the nations concerned should co-operate in the promotion of commercial intercourse. The benefits to accrue therefrom to the United States will of course be proportional to their relative commercial importance. The peculiar merit of this measure is that it is at once conservative and progressive, being a middle course between two extremes. Eminently a peace measure, it will at the same time fully vindicate our national honor, and result in great political and pecuniary advantage to all the American peoples interested. This seems to be a favorable time for its adoption; for it will meet the wishes of a large majority of our own people; receive the cordial support of the people of all the other in- dependent Powers on the American continent ; and con- stitute an irreversible establishment of the "Monroe Doctrine" as the law of nations for the western world. It is well known a similar plan, just forty years ago, had the approval of some of our wisest statesmen, who enjoyed 22 to an eminent degree tlie confidence of the people. But " the fullness of time " had not come. The proposition had to encounter the strength of our Southern slave-holding interest, then in the pride of their power, and exceedingly sensitive of the approach of any influence that could possibly affect their social system. The grounds of their opposition, apart from technical objections, were mainly that no occasion had arisen demanding an American combination to meet an European coalition; and that many of the Spanish- American States had, by constitutional provision, prohibited slavery and admitted as citizens people of African descent. Never- theless, despite the magnitude of the interest thought to be jeopardized, and the great political influence exerted to uphold it in opposition to the measure, such was the popular sympathy with the views of the Grovernment — then led by Mr. J. Q. Adams, President, and Mr. Clay, Secretary of State, with the support of Mr. Webster in the legislative branch— that the Senate confirmed the nomination, and the House of Eepresentatives appropriated the outfit and salaries of min- isters to the "Panama Congress," through popular pressure, against the weight of the personal influence of the great political leaders in Congress. And yet the "Slave Interest'* prevailed, through the delays in large part due to the long discussion of the "Panama mission." The influence of the same interest thenceforward restrained our Government from cultivating commercial and friendly intercourse with the Spanish- American independent States, and drove them with their profitable trade into close relations with England. To such a degree has this operated that, for many years, the cor- respondence of merchants in this country with South American ports has of necessity been carried on through Eagland. 23 It is well known that the slave-holding power in this country prevented the recognition by our Grovernment of Hayti and Dominica, the former of which countries was ex- cluded from our acquaintance for fifty years after the achieve- ment of its independence, and the latter from the year 1824. Some of the most powerful opponents of the mission to Panama, and notably Mr. Benton, declared that if the occasion should ever come for a practical application of the American doctrine — if European powers should ever attempt what has now been done — we should not only make common cause with the Spanish American States, but take their lead and oppose with the whole strength of the country the forcible intervention of a European Power, or combination of Powers, in the internal affairs of any of those States, viewing any attempt to control their destiny as necessarily endangering the peace auJ safety of the United States. The commercial class of our population, always the first to perceive the approach of any danger touching their interests, foresaw a recurrence of European combinations to reconquer Spanish America and control its commerce, one such design while yet in embryo having been thwarted by the bold posi- tion taken by Mr. Monroe. Their fears have been verified most remarkably, not only by our diminished trade with those countries, but by the political interference predicted — the diminished trade howe^^er having preceded armed inter- ference, in as much as the arts of diplomacy, taking ad- vantage of our indifference, paved the way for the employ- ment of force. It would perhaps be assuming too much to claim that the difficulties in the presence of which we now stand would have 24 been wholly avoided by our joining the Spanish American States in 1826, in an agreement to enforce the American Policy ; for it is not easy to anticipate the precise form which an evil we would prevent may assume, and to provide for it in advance an adequate remedy. But had our Congress, fully im- pressed with the importance of precautions against the danger of European intervention, heartily accepted the recommenda- tion of the President, as some of our most sagacious states- men advised, the result of the movement then made would have been the development of a kindred measure, perhaps in its main features identical with the one here recommended ; and under such protection it would have been impossible^ humanly speaking, for the present condition of things in Mex- ico to have had a being. But one objection entitled to any weight can be urged against this measure, and that is its tendency to involve this country in "entangling foreign alliances"; and that there- fore it would be opposed to the opinion and counsels of our first President as given in the "Farewell Address." Without adverting to the great changes which have taken place since that time, and more particularly the change in the attitude of European Powers toward this country, calling for " a cor- responding change" on our part, a sufficient answer to that objection is : That the special office of this arrangement will be to counteract the influence deprecated in the "Address" and to make impossible the entanglement against which Washington warned his country. The key to the meaning of the question: "Why quit our own to stand on foreign ground.?'" is contained in the closely succeeding question : " Why, by interweaving our destiny with that of any part of Europe, en- tangle our peace and prosperity in the toils of European am- 25 bition, rivalship, interest &c.?" The "Foreign alliance" meant was an European alliance. Proof of that, if any were wanting beside the context and the history of the occasion for the advice, lies in the fact that we were then the only in- dependent power in this hemisphere. To an alliance strictly American we may safely trust to save us from the perils attending the complications and colli- sions of European politics. 