Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-04-23
IL raF ssS,rs o. rus uvrSp sr.rs,, March q. lSi2


proved he had hoped, and he still felt his bodily
Strength much enieebled, still. after the indueent
kindness shown him Ivy the Senate yesterday IN
the postponemenl oi the debate, for whieh ne now
returned his mos; grateful aekhow ledenents' nc
could not think of trcepassing further on their Tor
bearanee, and would therefore enieavor 10 hooo'e
On as well rs he could, m reply to tue arguments
advanced by gentlemen on the o,het s'de, taking
care 10 consume as little as he could OF the time Of
the Senate.
He he'd been saved from tho necessity of saying
much that he had intended, by the very able nrgu'
ments Of his friends who had preceded HIM, and he
hoped that, without any unjust discrimination, he
might parlcularize those Of his friend near HIM,
(Mr Evsns,) the chairman Of the Finance Commit
tce whose able speech the present occasion went
TO demonstrate the correctness oil the OPINION eh-
pressed in advance by MIR C., that IL elevated 10
that high and responsible position he would prove
himself fully equal TO its duties, and would os
charge them in n manner conducive to his own
honor and the advantogeo OF the country:
In considering the various topics ao'aneeu ny
gentlemen opposed the resolutions he had had The
honor TO submit, the first which would demand his
notice was the objection brought forward by the
Senator from South Carolina, that they necessarily
involved violation OF the compromise act. mat
gentleman thought that that important act would
be violated IN several most important particulars.
His obiec, would he to show that, according 10 MIR
C.'s understanding of that act, as well from con
temporaneous interpretations OF II, aud from the
concomant circumstances. as from the terms oil the
violation Of is PROVISIONS whdteveI-none.
But, before he proceeded TO do this, lie must nc
allowed TO say that he had h,raseit never attributed
TO the compromise act such an absolute and sacred
Inviolabiiy would forbid the least interference
with its enactmens, under any circumstances, how
ever urgent or extreme. The utmost amount ct his
convictions that subject was. that 1t was To he
viewed act entitled 10 great respect, from tie
eNigercy OF the times in which II had been adopted,
aud the important efce, it had had in aIaying IA
very alarming degree OF excitement IN opposite
sections of the Union; nn1 Mr. e. was happy TO
find that some gentlemen, formerly Its bitterest
enemies, hai now become ITS wan friends. " lac
was not mistaken, the Senator from New York on
the let (Mr Wright) had more than once declared
that he felt himself entirely absoved from oil oell-
cation 10 regard II IN arranging any financial mea-
sures which the OF the country might seem TO
demand
Mr. wRiamr explained, aLd said that the jecla>
ration he had made was that he felt himself no more
bound 10y that than by any Other lawl
Mr. CLAY. All! But find that he now proposes
expressly, IN the amendments he has offered 10 my
resolutions that in laying down rule for tie sup
plying OF the Treasury with the requisite means TO
carry the Government, regard IS 10 be had TO the
stipulations in the compromise act.
The Senator from South Carolina preiaced the
enumeration o. his objections 10 the resolutions SUIT
mtted by me with declaring that they violated that
act; and he said that It was perfectly well known
that he never would have consented TO the act but
for the conviction that 1t involved a complete aban-
Now MIR c. must say, in reply 10 this, that, Tor
one, he knew No such thing but, on the contrary,
he knew directly the reverse. IL did not abandon
the protective policy: far from IT. II embodied the
principle Of protection, although y modified and re-
strained it, Ii embraced the provision Of a home
valuation OF our imports, which was avowecIy
placed there for the protection Of the manufactures,
and 1t part and parcel OF the protective system
In regard 20 that measure MIR &. could not agree
with his friend from Maine mir Evans IN The
opinion that il would operate practically, TO dimin
ish the amount of the revenue. He admitted that
il would lessen the amount ofimports: but not in a
degree 10 countervail the benefit derived from the
augmentation IL would effect IN the rate oil duties
received. To one who should take mere super
fetal view Of the subject, II nigh; appear to be
matter of course that dlminu;ion OF imports IN
VOWED proportional dlmlnuton OF revenue; and so
there would be, il the duties remained the same:
hu, more than compensation might be found in
the increased rate of duties Be this II might,
the home valuation clause was not the only point
m which the compromise act recognised and actu'
ally embodied the doctrine of protection. IL repuir-
ed also the payment of duties in cash: which was
always iavorlte point with the friends OF the
manufacturers md the advocates OF protection. And,
still more, the act prescribed long list OF articles
which were 10 remain free Of duty alter the 3Oth
June, 1912, which provision had been inserted ex
pressy Tor the benefit OF the interests OF the manu-.
fAciurers. Here, then, three several particulars
all Of them highly important. the principle Of pro.
lection was coniessedly, and of deiberate design,
engrafted in the compromise bill. So far from It's
involving an abandonment of that principle, II
would have been utterly impossible, the Senator
must know, 10 have carried the bill through Con-
gross with such an nvowal from its friends IL was
very true that the did modify the protective po
hey; but, in that modified form, II recognised, pro-
claimed, and perpetuated that policy.
What were the Instances on which the Senator
dwell in contendng that these resolutions violate
that act
/. That they to enlarge the lis. office arti.
:. That nothing was done a; the extra session
to effect reuenchment Of public expenditures;
and
3. That the resolutions contemplate the raising oil
duties on imports beyoad 20 per cent.
On each of these points lie MIR Ciay) would now
endeavor TO satisfy the Senate that the objections
wholly void Of foundation.
The FIRST ground Of objection was that Il these
resolutions adopted the list of free articles must
lie enlarged. And IN reply TO Il Mr. c. would enter
INTO REF opposition OF the various provisions OF the
compromise act.
There are TWO periods Of time referred to in that
act IN regard TO the imposition Of duties, VIZ: the pc.
rod previous TO the 30th June, 1872 and the period
after that day. The FIRST section OF the &C; reduces
the duties exceeding 30 per cent. down to 20 per
cent by a specified scale, and uy the Both June
1912; but it does not touch articles subject 10 duty
~ less than 20 per cent. In regard to these makes
no arrangement whatever. In reply to the idea
which is entertained by some persons, and which
has heen strenuousy insisted on here, tha. the act
InherIbiy determines that duiy OF 20 per cent shall
be forever levied and invariably maintained under
any circumstances whatever, however unjust or i'm
perailve they may he, le, me suppose a case
Let me suppose that state OF things shall arise
IN this country in which, under economical sd-
mnstraton OF the Government duties Of less than
90 per cent. would suffice that 30 per cent. would
be a rate Of duty too high, and # imposed, would
bring surplus of revenue into the Treasury Does
any gentleman doubt that under such circumstances
we might reduce the rate below 20 per cent without
violating the compromise Nome can doubt II for n
moment. All the first section does, Is to reduce
all duties which are above twenty per cent. dow m
To that standard. What sha he done afterwards
question submitted to the wisdom md discretion
OF Congress.
One Of the resolutions have offered declares that
II was assumed at the time Of the passage OF the
nc, TINT 30 per cent would he sufficient to produce
Tcvende enough 10 provide for on economical cd.
mins,rstion OF the Government but the disiin
guished Senator from New York, tMr WfighD has
SAID that be knew OF no such assumption and he
thinks that he finds very plain inference to the
contrary from the words OF the last section Of the
act where II declares that nothing therein contained
shall he so construed "to prevent the passage Of
my act prior 10 the 3Oh JuH,, 1912, IN the contin.
gency ether Of excess deficiency Of revenue, al
terng the rate Of duties on articles which, by the
aforesaid oct Of the lith day Of July, 1882 sub
joct 10 less rate Of duty than twenty per cent ad
valorem, in such manner not to exceed that rate
and 20 ne 10 adjust the 20 either Of the sold
e1ningencies."
But that clause whilst % Anticipated and provided
for the possibility OF excess or dimnutOn Of
revenue, does no. touch at oil the protected articles