The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1844-04-19

administration of the government
Ru, the principle of the home Valuation
wos AN essential and indispensable feature
oc ,hnt compromise without that feature
il could not have passed, nine sena'of'a'
votes having depended on that concession
and although distinguished senator
from South Carolina a! first strongly oPPo,'
sed il, he afterwards publicly ana Poih'eui
~ in The Senate surrendered the point, ana
the passage of the measure was secured
Mr.. g. denied that the principle oil the
compromise required the maximum 10 pe
fixed at 20 per cent-its true PrinciP'e was
Ia, no ,p,re revenue should be raised tiiah
was necessary for an honest ana ecohosii,
col administration of the government anu
yy;,b;p that limit there might be discfin,i'
no,;on in favor Of domestic industry. ne
was FAR from conceding that the tariii Q,
/ Islo was in violation of this prlnc'ple %
tho comnromise-bu if it were It equa'iy
violated the principle oil the nome 49,
lion. and neither interest affected py !" ""'
more RIGHT TO complain than inc o'ne,.-
A hr;ef yindication of q moderate pro'ec'
i've nolicy next followed, ms necessary 70
.a.,,ro he Independence OF the country
md is ability for defence in time oil war
and as furnishing TO the agricultural pro-
ducer a home market in addition TO the
rnreion market-in other words two mar
kets Of sale and Two markets of purchase
Mr.. Clav concluded this branch OF ms SUD
;oc, bv iael-.,.s himself In favor OF sys
~, -pIoieoticn, moderate, reasonable
=,
venue than is necessary for an honest and
economical administration Of tho govern
ment, and within that limit, discriminating
IN the imposition Of duties, between those
articles which do and those which do mol
enter into competition with domestic in
dustry-throwing the heavier duty on the
latter. lie said that on this basis This
great question must be settled-that toe
must lice together, We cannot do otherwise
and there must be some common ground
on which we should meet. That The ad.
yocates Of free trade and the advocates of
prohbltory or high duties, occupied the
two extremes; and safety and peace could
only be found by taking The middle path.
That neither interest or section could ex.
pect 10 have il all their own way--the mat.
ter must be adjusted by concession, com.
promise, conciiatlon- such concession,
compromise and Cancellation as led 10 the
adoption of the federal constitution and
under the influence Of which our polltica.
union would continue 10 fulfil lis sacred
trust and move forward in its high career
blessing TO our race. Each interest must
concede something, and thus a system Of
equivalents would give satisfaction to ALL
And we should be the more prompted TO
this result, as the concession would not be
TO foreigners and foreign interests, but to
domestic interests, to felow.ciizens Of
common country, TO brethren of the same
family.
In relation TO the currency, Mr.. Clay
pronounced the idea of an exclusively me.
taIlc circulation mere delusion; as
stunned that banks and the banking system
would continue TO exist under the auspices
OF the States and thence inferred the
necessity of national bank 10 regulate
and control the system and keep il from
explosion and mischief. He also insisted
on national bank as necessary 10 secure I
a national currency-w which is as necessn.
ry to nation as national laws, and as in.
dlspensabIe TO prevent the monied and
commercial interests Of the country from
being placed at the mercy or the monied
power of foreign states. That il was in
wall street, among foreign capitalists,
that the Northern opposition 10 a National
Bank was most vigorous, and this spoke
volumes of It's counexion with the true in.
terests and welfare Of the country.
Mr.. Clay in conclusion apoloeised for
his selection Of topics. He said that he
had set out on his present tour, with the
intention to keep his lips sealed but he
had been compelled to sneak. That he
was no preacher and could no, give scr. /
mon-no doctor and could not deliver n
lecture on medicine-no poet and could \
not sing soft strains for the amusement Of !
The audIence-but as he was oblged 10 5
say something, he trusted he would be I
pardoned, tor being silen. on subjects Of
"hIch he knew nothing, and for speaking t
out freely on subjects with which he pro.
essed to be familiar
Alter Mr.. Clay bad finished speaking, :
he meeting adjourned and Mr.. Clay, '
mid renewed cheers, re.entered the Ian. :
Tau, and accompanied DR.. Porcher to his !
esIdence, he being the guest of that gen.
leman during his soiourn among us.
The Committee of Arrangements reiir.
d to the Charleston Hotel, and partook Of u
n elegant dinner, provided by Mr.. Nick .
rson, and enlivened by sentiment and
ong.
Ia the evening, the Clay Club met at
he Theatre, where an immense concourse
f ladies' and gentleman had again assem-. v
led, and splrit-stirring speech of near Q
wo hours in length was delivered by the !,
loquent Preston.
HONOR AND SHAME FROM NO CON. h
DlTION RISE"
John III. Steele the Governor elect of '