large debt abroad is ultimately to be extinguished. With a balance of
trade against us (including interest on bonds held by foreigners and
money spent by our citizens traveling in foreign lands) equal to the
entire yield of the precious metals in this country, it is not so easy
to see how this result is to be otherwise accomplished.

The acquisition of San Domingo is an adherence to the "Monroe doctrine;"
it is a measure of national protection; it is asserting our just claim
to a controlling influence over the great commercial traffic soon to
flow from east to west by the way of the Isthmus of Darien; it is to
build up our merchant marine; it is to furnish new markets for the
products of our farms, shops, and manufactories; it is to make slavery
insupportable in Cuba and Porto Rico at once and ultimately so in
Brazil; it is to settle the unhappy condition of Cuba, and end an
exterminating conflict; it is to provide honest means of paying our
honest debts, without overtaxing the people; it is to furnish our
citizens with the necessaries of everyday life at cheaper rates than
ever before; and it is, in fine, a rapid stride toward that greatness
which the intelligence, industry, and enterprise of the citizens of the
United States entitle this country to assume among nations.

U.S. GRANT.



EXECUTIVE MANSION, _Washington, D.C. June 2, 1870_.

_To the Senate of the United States:_

In reply to your resolution of the 1st instant, requesting, "in