Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1844-09-27

wet been done, discriminate in favor of the
aborer. by levying the heaviest taxes on
articles of luxury. Tremendous cheer
ing and loud cries of ''thats the American
doctrine. In like manner in the arrange
ment of the tariff, the interests of agricul-
ture must be consulted and for the manu-
Eacturer, we insist, that the great design
should not be to give sudden profits, the
results of hazard, but to ensure steady and
equal protection, and thus lead him to CON-
pete for the great neutral markets OF The
world, (Cheers.) TO this end the manu-
facturer needs more than discriminating
revenue tariff. He needs for his best al
lies sound currency and well regulated
exchanges, Loud applause. Good ex-
changes are secured. not by Bank of the
United States. but the regular action oil
commercial industry. The merchants are
the great regulators of exchanges; let them
never abdicate their Office. Very enthu-
siastic cheering. For the security ofthe
currency, there is no resource but steady
regard to the metallic basis.
! A fuctuating currency. as it expands,
raises prices. invites foreigners to e~ces-
sive competition for our own markets,
drives US from neutral to foreign markets;
and then the vast balance for importations
must be paid in money, and the export of
specie takes away the support of the art-
= fetal currency which totters and crumbles
for the want of a solid foundation. Then
follows depression. The paper currency
! in its excessive contractions and expansions
is luinous to the manufacturer; it is to him
like bad mill-stream, swollen by every
storm, and summer-dried in the time Of
need. (Applause.) A close adherence to
steady flow of credit and of money. The
measure of value must not have merely an
odor of nationality; it must bear an impress
that shall be its passport through the civil
lied world. 1t is in this connection thatI
pronounce the name of Silas Wright as
the benefactor Of the manufacturers. ST.
las Wright, the statesman and the friend
ever to be relied upon-having an unpre-
tended modesty. surpassed only by his
merit; never aspiring to high station, and
worthy OF the highest. Demonstrations
of enthusiasm which altogether battle des-
cription.) 1t was he. who in May. 1888.
met Henry Clay face to face ON the floor
of the Senate, and achieved, perhaps, the
most signal and momentous victory ever
won in that body. Great cheering. y
The chief provision of Clay's resolution,
as he himself expressed it, was, that ",he
notes of sound and specie paying banks
shall be received and paid out in the re-
ceipts and expenditures of.he government"
In moment Wright discerned the latent
evils couched in the proposition, and re-
recommended its reference to the Committee
: on Finance. Clay objected, but in vain,
r Cheers. NJ eantime, in the course of the
, debate ,ha, ensued, Clay exclaimed in re-
!. ply to the Senator from South Carolina,
rs | am for Bank Of the United States, and
r wish it so pronounced and so understood,
: that every man, woman and child, should
: know it," 1.-The capital,'' he afterwards
$ added. "not to be extravagantly large
: about Fifty Million would answer On
S the 10Th of May Silas Wright came for
S ward with his report, calm. we'll digested
!, and conclusive; having not waste word
l and leaving not word to be added
e (Cheers.) Such was the irresistible force
: of his logic, that Clay turned from his
It own position, and to avoid worse de.
n feat on his own motion, the worst par
s of his resolution was rejected by vote o.
It forty-four to one. Great applause. AL
1t that remained that was Objectionable was
i on motion of Silas Wright, stricken out
: by vote of twcnty-eight to nineteen.-
1t Terrific cheers. Such was his great ser
: vice to the best interests of the country
t. commend his report and the accompany
t. ing report to the democratic press, and the
i Young Democracy Of New York. Loue
$ and long continued cheering.1 For tht
e vindication of our. territory in its full ex
l. tent, the merchants, and manufacturers ant
s. agricuturlsts, equally interested. +"*.
d The harbors of Oregon are for American
r ships; its markets for American labor; il,
d soil for the American ploughs its wid'
q domain for American INSTITUTIONS and Anne
}, rican Independence. Terrific cheering
q and shouts of "Oregon is ours and mus
u De ours" Yes, and Texas too,' an,
II so on Mr.. Bancroft proceeded to discus
y the remuneration of Texas; contendin,
q that Texas is independent as consequence
a, of its existence; as having been but tenn
ID porary member of confederacy, whic
'e military despotism has dissolved. He de
'e veloped concisely the relations on the sub