ear, by the withdrawal on the part of the Emperor of his
pretentious to exclusive trade on the Northwest coast, and by fixing the
parallel of 54" 40' as the line between the permissible establishments
of the respective countries.

This in brief is the history of the celebrated "Monroe Doctrine." It has
never been affirmatively adopted by Congress, by any recorded vote, as
the fixed and unalterable policy of this Republic; but its patriotic
sentiment is so deeply bedded in the hearts of the American people of
every political opinion, that Congress ought not and dare not ignore it.

But did not the United States Senate, when it ratified the
Clayton-Bulwer Treaty in 1850, practically ignore the "Monroe Doctrine"
and open the door for future trouble? Let us examine this treaty, which,
in the light of present Congressional action, has become an important
element in American politics, and see if it is not antagonistic to the
American policy, and more than the _bete noir_ of partizan dreams.
In order for a complete understanding of the terms, and bearing of this
treaty, I deem it important to give a full synopsis, rather than a brief
reference to its salient points:

THE CLAYTON-BULWER TREATY.

"A convention between the United States of America and her Britannic
Majesty.

PREAMBLE.

"The United States and her Britannic Majesty, being desirous of
consolidating the relations of amity, which so happily subsist between
them, by setting forth and fixing in a convention their views and
intentions with reference to any means of communication by ship canal,
which may be constructed between the Atlantic and Pacific oceans, by way
of the river San Juan de Nicaragua and either or both the lakes of
Nicaragua or Manaqua, to any port or place on the Pacific ocean, the
President of the United States has conferred full powers on John M.
Clayton, Secretary of State of the United States, and her Britannic
Majesty on the Right Honorable Sir Henry Lytton Bulwer, a member of her
Majesty's most honorable Privy Council, Knight Commander of the most
honorable order of Bath, and Envoy Extraordinary and Minister
Plenipotentiary of her Britannic Majesty to the United States for the
aforesaid purpose; and the said plenipotentiaries, having exchanged
their full powers, which were found to be in proper form, have agreed to
the following articles, _viz_:

Article 1. The governments of the United States and Great Britain hereby
declare that ne