, 1840-08-29

gle, which had 50 long agitated Europe pass
Sd the Atlantic and reached our shore. Ihe
heavy expenses and financial embarrssments,
which followed, bound the government with
cords more powerful than ever, to the paper
system, and restored the policy Of Hamilton
in its full extent, and to more than primitive
vigor. After the termination Of the war, i'll
was carried out in bold relief by the miscallr
ed American System, till it was finally con-
summated in the Tariff Of 1928.
In, its train followed, as they ever will,
profusion, extravagance and cor
which have done much to sap the
of our free institutions, and must
have utterly subvcrted them, if the cause,
for the country, had not been ar
A reaction has not only commenced, but
made great progress towards freeing the
country from the last remnants Of a policy,
so dangerous and pernicious. How or by
whom, so happy a change has been brought
about, it is not material to state. 1t IS sufh-
cient to say, that the government is already
free from a funded debt, and q national bank,
with a far prospect in a short time, to be
liberated from all connexion with the banks
and the protective tarif-With them must
fall the whole paper and misnamed Ameri-
can System, and their legitimate offsprings,
suplus revenue, profusion, extravaganza, col
ruption, arrangement Of the currency and
the business Of the country, which has
brought US TO our present condition. Yes;
l assert with confidence, that a few years OF
e~xertion and perseverance, in the same dIrec-
ton will complete the reaction and over
throw the whole system Of policy, origina.
ting in theifederal consolidation school Of poll
tics, when the government will take a fresh
departure, after more than half ~a..century, in
the direction which Jefferson and his associ-
ates would give it, if they were alive and
at the helm.
1t is the remarkable condition of circum-
stances, that constitute the existing crisis,
and imparts to it, the deep importance, which
causes the agitation now felt throughout the
wide limits Of this Union. The issue ismade
10, and is before the people for trial. The
question is shall the reaction be completed
and the consolidation federal system Of poll.
tics be overthrow, and opposite substituted
for the future, In a word, which shall pre-
vail, the school of Jefferson or Hamilton!
Shall we, after the great progress made. and
with sad lessons of experience before US turn
back to the Hamilton policy, reunite the
government with the banks, create anew a
national bank, build up another funding sys-
tenn, re-enact a protective tariff, restore the
misnamed American system with all its cor
rupting~ dangerous consequences; or shall we,
by the past, adopt the opposite
system of policy, restrict the government
rigidly to the few great objects assigned to
it; defence against danger from abroad;
preservation Of peace and tranquility at
home, and a free and open CONNER cial inter-
course within and without! Such is the real
question at issue, stripped Of the thousand
minor and collateral ones, which are mere
appendages, and serve but to influence the
lighter materials revolving around the two
parties. The great masses are rallied on the
one or other side-on that Of our opponents,
to arrest the further progress Of the reaction.
and return to the old, but, | trust, for ever
exploded system; we to complete the reac-
ton, and take a fresh departure, in the direc-
ton laid down in the States Rights Republi.
can Chart of '98 as projected by Mr.. Jeffer.
son and his compeers. On the decision Of
this all important question will depend, as l
believe, the future destiny Of the country
If the side of our opponents should in the
end prevail, our tree and glorious institutions
will not long survive. A radical change
will follow in the character and habits Of the
which must subvert our institutions,
and with them the Union itself; but if fortu-
that for which we contend shall tri-
umph, generations yet unborn, with the bles.
sings Of providence, may live, and flourish.
and glory in our free and happy system Of
government.
Thus regarded, never has there been a
more important crisis since the adoption Of
the Constitution, The issue involved is one
which may well call for the energy and ef-
forts of freemen. The final decision cannot
long be postponed. Now is the time for ac-
ton. A few years must decide for or against
us. Government cannot stand still. 1t must
advance or recede; but when its direction is
once taken, if it should be in a wrong direc.
tion-against the course for which we con-
tend, it will be beyond human power to re.
store it short of revolution.
INs