The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-10-20

riff, and an important truth u Is Tor ask
you, as composing part of the industrious
hardy men Of New England, as caring for
your children and their livelihood, II you.
would wish such great object as the Pro-
lection Of your Industry made mere par
iy object--rising as party rises, and going
to lis grave as the party goes down. II =
a national questionable utility OF Tariff
OF Projections lei all parties support
it, because, though | hope the ascendancy
OF Wing principles Iaay be perpetual, yei !
desire 10 take for the Tariff bond and Sc
euri,v, more durable than are my hopes OF
the perpcmiiy Of the Wing parry.
Let US be true in another respect. This
Tariff has accomplished much. honor
the members who passed 1t. But what
has il done 1t has restored the country
in regard to protection 10 where II was be-
fore the operation Of The Compromise Act
commenced, and il has done no more. j,
has repaired the consequences of that mea-
sure. may speak Of the compromise
act. Ny TURN to speak OF it has at last
come. can truly say that no measure
was ever passed which cost me so much
grief as that. We have heard the motives
OF that act presented. Why, il by motives
gentlemen mean the personal motives OF
those principally concerned, We must deem
them pure, as all public men are supposed
10 act from pure motives. But u We iook
at the protested objects Of the law u we
look M what is written on the whole tran.
sactton; ii we see what the law expresses
ON its face. ;if these arc It's motives, they
are, as motives, still worse than tho opera
iiop Of The act ITSELF.
/, is explained in its action; every line
is full OF II every circumstance attending
II is full of il; the object was neither more
or less than to impose. for all time, re-
strictlon upon the Legislature 10 regard TO
leyyirg duties without any change of the
Constitution. II was, in fact, to inscrt 4
prohlbitory clause in the Constitution, tina,
after 1912 no duty should be laid which
was not according TO an observed horizon.
talsm, and exceeded 90 per cent. | say
now, as | said then, that the principle is
false and dangerous II admits new iea'
turo into the administration OF the Govern
ment aud the laws, and the country, only
with spasm and throe, can ever set rId
of 1t. Has II not done this Yet thank
God, ii is got rid Of. The present tariff
law IS sufficiently discriminating, holds to
common sense, and rejects the principle d
the compromise act | hope forever.
Another ard original object under The
revolution of ls40 aas the restoration q
the currency OF the country. Our troubles
dad not begin with want Of money IN the
Treasury; they did not begin with the
operation Of the compromise act, which
commenced 10 1888, and has been con
iractlng ever since. There were oihei
causes of the troubles, and while they re
manned, even if the Treasury had beer
full, aud the tariff and protective policy un
disturbed, yet I'll provision was made 70
J better currency. Of universal yalldl',
throughout the land, the great cause woul'
not be removed.
4, the Special Session &c Congress- th
Secretary of the Treasury, Mr. Ewing
submitted To Congress plan for Nation
al Bank, founded upon the idea of iarg'
capital made up by private subscription
and having the power 10 extend It's branch
GO ell ever the country. need DOT ad,er
to the circumstances Of its presentation t.
Congress. IL had received the approba
ton Of the President and was concurret
IN By csefy member of the cabinet as th'
bcs, that could be done iof ~ We sui,
circumstances had placed tn the first piae,
the gentleman whom we all Thought gocs
enough for the secondhand his epluioni
were different from ours but fixed and ~
deemed L the part Of wisdom aud prudcuc,
10 see how We could get along IS well a.
might be under the circumstances. Mr.
E@ng's plan was sent to Congress "a i
has been descflhcd--except THAT tie banl
could not establish branches ia the State
without tho consent Of the States. Nou
had 40 idea my seIft that there was any ne
cessily for any such PROFESSIONALS it wa
at most mere thcory--though | never
I would agree in any case with The doctrine
that the omission TO exercise a power is 1
surrender Of the power. What vas done
Doubts Here expressed as to whether the
institution could 90 into operation; man,
were doubtful as to obtaining subscriptions
What did We do We sent TO the com
mercial cities, the principle towns in the
country and asked gentlemen of known
skill! and capital to como and consult viii
Us about il. They expressed doubts, hu
hopes also and pledged themselves to Dc
the best they could aud as the commune
ty was interested 10 il and the admin,stra
ton was fresh aud poauIaf--they weie
earnest 10 have the bill tried. What va.
the result : II was sent 10 the Senate ana
rejected. Another bill was brought IN
dnested Of this thcoretIe difficulty, il was
discussed two months and then il vas found
that 1t would not pass Wing Senate.
will not pursue tho unhappy narrative
OF the session Of 1871. Men grew angry
and rcsehtluh | saw lie storm arising,
and endeasored, as far as | could, 10 hush
1t. | expressed my opinion freely Ia tho