New-York daily tribune., 1844-04-13

present lnur. He knew that he Was accused, by the
selfish and ungcncrous, OF making an cectdneciIng
tour but he nt once denied and drspis'd the IInpula-
ion He had visited the cjtv OF Ncw-Orcans purely
on n matter of business ;.Hnd his return home iuf
nishcd him. hc ihnuch, a favorable opportunity -
visit the four Southern States of The coutedcricS
Aluhama Georgia South Carolina, and North Carr
Ina in neither OF Which with the exception oi a viat
IL Mobile last vesr hnd he ever been before. ald
which, in the ordinary course o nature and afia'S,
me was never likely 10 see again. On his Prosrs,
hitherto. in every CITY, town, village, hamlet md
cross-road on his route, ic hnd been generousy nd
hospitality welcomed, without discrimination oil
party. Under such circumstances, he thuughihe
might venture without hahn ~ visit the lane oi
Marion of Sumter, aud OF Pickcns-ihat ne night
without blame come IN the home OF The Ruted,cs,
the Pinckneys and The Midlletons- and suryr, or
reconoitre, us far ns his opportunities would allow
him, the ground and the scenes where the venerable
aad gallant Chairman Of the COMMITTEE ana ms cCn-
patriots had fought The battles OF thr Rev Oution. Ii
was sud he was candidate for the Presidency. lie
could rot dcnv that from the ST. John ns 10 The bGlks
oiIhe Sabine, spontaneous demonstrations, unson,hi
and unprompled by hin. had been made III hisiar'r;
hnt he had never vel consented or declared 10 cny
one the, he was q canddate tor TIE Presidency-at
present he was plain iurmcr earning his living by
the sweat nj his brow, rather by the JOINT sweat al
himself an tno"~ ."l.n l"L-.aj o-l.;. - --.--
eycr near The period OF final decision might be, lie
moment and the proper occasion.
Mr. CLAY then entered into frank aud fearless
exposition ol hi. views on the great questions o Tie
Tariff and the Currency. lie SAID he calne here 10
ilattcr no man or sc; OF men--:hat what hc would
dare sav on the banks OF the Ekhorn he would dare
saw in the Palmetto State He had ever been in
favor of the protective policy to certain cXtcnt.-
To preserve ut once the peace and the great inter-
csis of the country, he had been active in eicctag
the Compromise OF 1853 ana although he was lar
from maintaining the doctrine that any Congress
could bind lis SUCCESSORS The extraordinary eXigen-
ccs and state OF the country Which led TO the pledge
of that Compromise made him feel ii an obligation
of honor To adhere 10 in good faith and he chal-
lengcd the most dgcnt search Of the record TO show
that he had ever courcnanccd lis violation in the
slightest particuar-nay, more: he was bold 10 say,
that during his entire service III Congress since, there
never had been an effort violate il which had not
met with his prompt andcarncst resistance ltwas I'M
portan 10 understand the true character OF that Com
promise. Ii provided for gradual reduction OF duties
down TO 90 per cent at given time, and after that Tor
the raising OF such revenue by duties on imports cX-
elusive aS YVES necessary iOru economical NdiilIns-
tration of the Government. But the principle of the
home valuation an essential and Indispensable
feature of ihat CUnpromisc-wighOut that feature 1t
could not have passed, nine Senatorial votes having
depended on that concesslOn-aBd although dis
lingriished Senator from Scu;lI-CarOlna at irst
strongly opposed it, he afterwards publicly and
poinedlv in the Senate surrendered the pOin and
The passuge Of the measure. was secured. Mr.. O.
denied that the principle OF Ihc Compromise rcGur-
ed the maximum rate Of duty 10 he fixed at ~ per
ccnt.--its true principle WAS that no more revenue
should be raised than was necessary Tor IN honest
and economical administration OF the Government,
and within that limit there might be discrimination
in favor of domestic industry. lie was far from
conccdng that the Tariff OF 1912 was in violation OF
this principle OF the Compromsc-but il [ were 1t
equally violated the principle OF the home valuation,
and neither n;ercs, affected by had more right To
complain ,han the o,hcr. a brief vndicaton OF II
moderate protective policy next followed, as ncccS-
sarv TO secure the Independence oi the Country,
and lis ability for defence in time ot war; and IL
furnishing 10 the agricultural producer n home
market in addition to The ioreg gn markct-ln other
words two markets of sale and two markets OF pur-
chase Mr. CLAY concludedthIs branch Oi lis subject
bv declaring himself in favor Oi system ol protcc-
lion moderate. reasonable certain and durabe-
Welding no mnrc revenue than Il necessary Tor an
honest and economical administration oi the Govern
ment, and within that limit, discriminating III the I'M
position of duties between those articles winch DO
and those which do not enter INTO competition WITH
Domestic lndusiry-throwlng Tie heavier duty on
the former and the lighter duty the latter. lie
said that on this basis this great question must be
sctrIed-uat ue must Ire together, we cannot DO
otherwise-and there must be- some common ground
on which we should meet. That the advocates OF
Free Trade and the advocates OF prohbitory or high
Duties, occupied the two extremes: and safely aud
peace could only he found hy taking the middle
path. That neither interest or section could expect
TO have il all their own way-the matter must be
adjusted BY concession, compromise, conclIatioI-,
such concession, compromise aud Cancellation as led
to the adoption of the Federal Constitution; aud
under the influence of which, our political union
would continue to fulfil It's sacred trust and move
forward in lis high career, blessing 10 our Race.
Each interest must conccdc something, and thus a
system of equivalents would give satisfaction to all
And we should be the more prompted Ia tins result
as the concession would not be 10 Foreigners and
Foreign interests, but TO Domestic interests TO Tel
low citizens of Il common country, TO brethren ol
the same family.
In relation TO the currency MIR. Clay pronounced
the idea of an exclusively metallic circulation mere
delusion assumed that Banks and the Banking Sys-
tenn would continue 10 exist under the auspices oi
the States and thence inferred the necessity oi II
Natanal Bank TO regulate and control the system
and keep il from explosion and mischief. lie also
insisted on National Bank necessary 10 secure Il
National Curr-ncy-which is rs necessary 10 Ma
ton as National Laws and indispensable 10 prevent
The monird and commercial interests OF the country
from being placed at the mercy of The monied power
OF foreign states. That it was in Wal-street among
foreign capitalists, that the Northern opposition 10
a National Bank most vigorous, and tins spoke
volumes Of lis connection with the true interests and
welfare OF the country.
Mr.. CLAY in conclusion apologizcd for his seiec-
ton OF topics. He said thai he had set out on his
present tour with the intention 10 keep his lips seal
ed but he had been compelled 10 speak. That he
was no preacher, and could not give sermon-no
doctor and could no; deliver lecture on medicine
no poet and could sing soft strains for the alnlse-
mcnt OF the audience-but as he was obliged to say
something he trusted he would be pardoned Tor be-
inr silent on subjects of which he knew noh'ng, ana
for speaking out freely on subjects with which he
protcsscd 10 be ianliiar.
Aftcr Mr. CLAY had finished speaking, the meet
ing adjourned; and Mr. Clay amid renewed ed cheers
re6nrcred the landau, and accompanied DIR. P9E-
CHER 10 his residence, lie being the guest OF that
gentleman during his soourn among us.
The Committee of Arrangements retired TO the
Charleston Hotel. and partook of an elegant dinner,
provided bv Mr. NlcKERsoS, and cnliycned by sell
iimen and song
In the evening, the Clay Club met at The Theatre,
where an immense concoursc OF ladies' and gentle
men had again assembled, and sprlt-sunlns
sncecb of near two hours in length vas delivered by
A splendid Ball, attended by ciuZens without dis
,;nc,;an of party. will be given in honor OF Mr. CLAY,
NJ the Charleston Hotel, this evening
,r,p DpJ\-TISC OFFICE