Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1844-05-11

of domestic industry. He was far from
conceding that the tariff of 1912 was in
violation of this principle of the compro-
mise--but if it were, it equally violated
the principle of the home valuation, and
neither interest affected by it had more
right to complain than the other. A brief
vindcation of a moderate protective policy
next followed, as necessary TO secure the
independence of the country, and its ability
for defence in time Of war; and as furnish
ing to the agricultural producer home
market in addition to the foreign market
in other words two markets of sale and
two markets of purchase. Mr.. Clay con-
cluded this branch of his subject by de-
claring himself in favor of system of
protection, moderate, reasonable, certain
and Misunderstanding no more revenue
than is necessary for an honest and eco
nomical administration Of the government,
and within that limit, discriminating in the
imposition Of duties, between those arti-
cles which do and those which do not enter
into competition with domestic industry
throwing the heavier duty on the former
and the lighter duty on the latter. He said
that on this basis this question must be set
tled--that ne must Hce 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 prohibitory 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 expect to have it all their
own way-the matter must be adjusted by
concession, compromise, conciliation--such
concession, compromise and Cancellation as
led to the adoption Of the federal constitu-
ton; and under the influence Of which our
political union would continue to fulfil its
sacred trust and move forward in high
career blessing to our race. Each inter-
est must concede something, and thus a
system of equivalents would give satisfac-
ton 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 fel,
low citizens of common country, TO
brethren of the same family.
In relation to the currency, Mr.. Clay
pronounced the idea of an exclusively me.
tallic circulation mere delusion; assumed
that banks and the banking system would
continue to exist under the auspices of the
States: and thence inferred the necessity
of national bank to regulate and control
the system and keep it from explosion and
mischief. He also insisted on National
Bank as necessary to secure a national cur
rency--which is as necessary to a nation
as national laws, and as indispensable to
prevent the monied and commercial inter-
ests of the country from being placed at
the mercy of the monied power of foreign
States. That it was in Wall street, among
foreign capitalists, that the Northern oppo
sition to National Bank was most vigor
GUS, and this spoke volumes of its connex
ion with the true interests and welfare o
the country.
Mr.. Clay in conclusion apologised fol-
his selection of topics. He said that hi
had set out on his present tour, with TIT
intention TO keep his lips sealed, but he hac
been compelled to speak. That he was NJ
preacher and could not give sermon--nc
doctor and could not deliver lecture or
medicne--no poet and could not sing sof
strains for the amusement of the audience
but as he was obliged to say something, h,
trusted he would be pardoned for being
silent on subjects of which he knew moth
ing, and for speaking out freely on subject
with which he professed to be familiar.
After Mr.. Clay had finished speaking
the meeting adjourned; and Mr.. Clay
amid renewed cheers re-entered the Ian
dau, and accompanied DR.. Porcher to hi
residence, he being the guest of that gen
tlemsn during his sojourn among US.
The Committee of Arrangements re
tired to the Charleston Hotel. and partool
of an elegant dinner provided by Mr
Nickerson, and enlivened by sentiment ant
song.
In the evening the Clay Club met at thu
Theatre, where an immense concourse o
ladies and gentlemen had again assembled
and spirit-stirring speech of near tive
hours in length was delivered by the elo
quent Mr.. Preston.
A splendid Ball, attended by citizen
without distinction of party, will be givel
in honor of Mr.. Clay, at the Charleston
Hotel, this (Monday) evening.
The following verses were let down
with wreath of flowers. into the barouch
containing Mr.. Clay, as it passed unde
one Of the arches in King street:
TO HENRY CLAY.
The American Statesman Farmer Q
Ashland.
WELCOME proud scion ofa patriot band,
Thrice honored Statesman of free born land!
With one accord each patriot OF the South,
, Thy welcome echoes loud from mouth 10 mouth
|, c.. oc ,Lo NNasI ,Dbosa nlnru haaroS aronnd