Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-31

i weep cqualHtetcst.
do not propose, Mr. President, a repeal OF tie
Distribution law. ! would suspend Il only, 80 LONG
as the present financial condition ofthe country shall
continue, and until the payment OF the public debt
etee;ed. l would leave the law upon the statute
BOOK TO revive in force whenever the obstruction 10
its operation presented by the present state OF things
shall have ceased. There many reasons which
| nave not time now 10 enter into, why the pubic
'anus should not be looked 10 habitual source
oil current revenue. They were not 50 eon'enpla
'eu AZ the time OF their ceSsion. were they treat
ed as such, as | have already shown, when the ioun
danons Of our fiscal system were originally esia6-
hshed At both Of those epoehs, their true function
and destination were understood to be, TO serve as
basis ct public credit, during the existence OF ma
tonal debt. When the debt of the nation shall have
| been discharged. and when there shall be sum =
cient revenue TO meet the wants OF the Government
arising from an equitable and unoppTessive tsrn CT
duties on foreign imports, distribution Of their
proceeds among the States will be found, am per-
suaded, TO use expression OF General jackson,
to- be she most wise, Just and fcdera"' disposition
Of them-the most beneficial and useful in ITSELF and
the most in harmony with the genius Of our Fede-
rative system.
When, Mr. President. this indispensable provision
shall have been made for the support of pull lie ere
DIT and for the paynleRt Of thu public debt. leaving
the ultimate destination OF the public lands, as at
present settled by the Distribution law, unchanged,
We shall then be in situation 10 adjust more wisely
and carefully the foundations OF our general reve
nue. system, depending upon the duties on foreign
imports. / nm fully aware Of the many high and
delicate considerations involved right 6iusiment
OF this system; and for one. beg leave TO say that
whenever the subject shat; come up, shall. be pre-
pared 10 act as trps, have always acted upon it
IN catholic and national spirit, looking, with fra
ieTrai regard. 10 the interests and just claims OF
cry portion of our ereat eoniederaey shall DC rs
unwilling TO see any great branch OF the naiiona in
dustry, in Massachusetts, Connecticut, New York
or Pennsylvania, Frustrated or injured, rs | would
We TO sec any supposed peculiar interest Of my own
State sacrificed GsSailed. Indeed, | havc ever
locked upon the various pats Of our happy and
glorious Union rs forming bu; one family, having,
in all essential respects, common in:erss'. The
very dIversues AMI lcca. p.cullnriies, which dstn
suish It's several parts, nrd IN which have seen
sources " dtcord and col ison have ever appeared
10 me TO be 80 many additional bonds o: unlOa. In
the relations OF industry and commerce, they ore
tho. made mutual custones TO supply each Others
n,ce sites, instead NJ rivals interfering with each
others pursuits. The Northern S:aios aIe ty ma
ture manufacturing and navigating communities.
The Southern are planting States, offprd.ns In tue
heavy and coarser produces OF their soil, employ
ment Tor the navigation. ana raw m,terisls for the
Industry Of their Northern n,is hbors; while they
consume, IN their turn, many OF The usr products,
Of the ski! and labor Of the North. IN hk.
manner, the Eesstern States on the Atlantic
border are, by their position, commercial, while the
interior Siatesofthe West are, for the part fern
ing and grazing communities, thus, too, adapted by
the diversity of their situation and pursuits TO inter
ShAh- AAti iSSftNNlNt hnu productions
ami 10 be auNi.iary 10 the supply OF each other,
wants. The different sections OF the con ieueracy are
IN this manner, Goce tailed into each other by cum
nlngJoiHsry OF nature which st transeends the policy
or the wIsd m of man. | never look back 10 the
Farewell Address of the Father OF hi. County, and
read that almost inspired passage, in which he points
out so s,rkngly these providentiSl arrangements
IN the geographical conformation OF our territory
for the preservation OF cur Union without feeling
seadfast confidence in the deStinies Of our or Gus
.A1 II
and Nature have joined together, let no man CT
combination Of men atemp, TO put asunder."
Disposed thus, by the habi,ual bent of my feel
inss, 10 render equal justice 10 every portion of our
common country, have no inhexbe attachment
20 mere general theories 10 bias me in n contrary
direction. All legislation and especially CONNER
cial legislation, IS practical thing. | believe free
trade TO be the true policy OF all nations and ca n
not doubt that esch would find its highest ADVANTAGE
IN It, II all would adopt IL. But while n large ma
lority OF the nations OF the earth seek to build IN
the peculiar interests Of their own national labor
and production by regulations of restriction ard er.
clusion, other nations must shape their policy in
greater or less degree so as 10 shield themselves
from the effects of this selfish and anti social sys-
TEN. II other nations shut US out from their mar.
kets Tor the productions OF our Industry we natu.
rally seek TO indemnify ourselves by marker NJ
home, so far il can be iostered by wise lust and
moderate commercial regulations, which shall re.
spect the equal rights and interests OF the various
paris OF our own country. But no wise or lust
legislator should seek TO build up the interests OF
one portion OF the country, or one class of the
community, at the expense TO the injury OF ano-
ther portion class. The golden rule then ia
moderation, which conciliates and untes the in .
terests OF all, without violating the rights OF any
and the object 10 be aimed al in every sush system
OF policy, should be 10 assist the spontaneous de-
velopments and tendencies OF the natural order OF
things, and not force TO a,e 81 TO control them
by purely artificial regulation. have already re.
leued 10 the natural relations and pursuits OF the
different portions Of the Confederacy as indicated
IN It's physical conformation, and how, in the order
OF providen,ia arrangement, they were designed 10
b auxiliary 10 the supply Of each others wants
and 10 be mutual customers instead OF rivals Let
us beware lest, by too much regulation W. disturb
and break up this friendly and harmonious
arrangement OF nature That its deyelopnen;
may be assisted, 10 a certain extent and 10 the
common advantage Of all, by a wise system OF
policy, | do not deny but If tina, policy should
be carried so Tar as 10 give undue encoua cement TO
any particular branch Of national industry, tmsnu-
lectures, Tor eKampe,) is /, no, perceived that the
effect will be 10 break up the natural and friendly
relation Of mutual customers, which ought TO exist
between the different divisions Of the conf.deracy
and TO substitute in It's place the conflicting and
jealous one OF rVals, solicited into the same field Of
employment by the undue encouragement, given 10
The favored branch Of industry.
Moderation alone affords tn. happy mean, by
which unpleasant collisions Of every sort may be
aver'ed IN the adjustment Of these delicate cues
tionsi and Is because the spirit of a wise mode.
tGiion presided over the compromise Of 1898, and
because stability Of legislation, so essential TO the
prosperity Of every indutirous pursuit, would be
mos, efiectuslly secured by an adherence 10 IT, that
have felt anxious desire 10 see IL preserved in
violate. II we break up from the mornings Of that
compromise we are again at sen, on the most All
tatng OF all questions, my honorable friend from
| Massachusetts tMr Bates) and myself have reason
to know from what we witnessed Of these painful
struggles in ~ and 1925 and there is no telling
how long w<N~l be bufTeisd by contrary winds,
or whether, indeed, we shall be again able To make
| a friendly port. Cannot, then, this compromise be
yet preserved bya fair and liberal execution Of all
its provisions, yielding an adequate revenue, ard
wounding or endangering none OF the great inter
ests OF American industry. ! Rave heretofore stat.
ed 10 the Senate my sense Of the obligation inyoy
ed 10 the principle Of home valuation ss a conces.
SION understood, a! the time, 10 be made by the
compromise to the manufacturing interest. in corsi-
deraton Of the reduction OF the rate Of duty 10 qO
per cent. by agreeing that the duty should be az.
sessed upon the home, instead OF the foreign va uc
orinvoice price, Of the articles imported IL was Ger
talny intended that the duty should be calculated
upon higher value which would have the same
effect, IN the practical result rs increasing the rate
Of duty. II, then, there should be supposed 10 DO
a constitutional impairment as the Hon Senator
| from $. G. (Mf Cahoun,) contends 10 a home yniu-
alton, IN form. II II should 10 deemed highly in.
convenient or mpacticable in is nature and opera.
ton, is II not easy 10 ascertain far equivalent for II
in fixed and higher rate Of duty, and TO commute
IL for that rate7 The difference between home and
| foreign value IS varousY computed at from twenty
/ 10 thirty per cent. advance upon the foreign cost
I Lot um IN x 2 - and l.