Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1844-06-27

questions winch 'hey dreaded, and to -prcsen
others, Tor the purpose OF avoiding defeat. He
remembered an anecdote which was related 70
him at the time the Sub Treasury Bill wa,
passed.
Here Mr.. Clayton, after an apt illustration
oil his point, proceeded in most humor-
Gus strain TO depict what was the condition o,
MIR. Tyler, and that of his instrument. m their
efforts TO obtain The annexation of Texas 10
The Union. His portraiture of the function.
aries OF the present administration, and of the
Locofoco candidate in reference to the Texas
question, drew forth repeated bursts of laugh
ter lrom ,hc assembled thousands. Wills,
Mr.. Z. was thus entertaining his audience the
Reporter was greatly annoyed by an indiviti-
ual Immediately behind him endeayoring to
tie young eagle. to one of the supporters of
the rostruni, and was consequently, 10 his great
regret, prevented from taking adequate notes
OF this portion of the genllenan's excellen,
speech"
Mr. G. went on to eulogize Henry Clay, aud
affirmed that il fairly tealt by, he must be our
next President. loud, long, reiterated and
enthusiastic cheering)
He would not predict the fate of James X.
Polk and his followers lie invoked the al
tcnton of the meeting to the issue which
III
election goes against us, as Republican he
was willing 10 submit to The majority of his
countrymen, aud he would sill down with
whatever of patience and resignation he could
command. When, he repeated, thai, decision
should have been made, then as Republican
he would submit to it. lie, however, often
thought he would be glad 10 drive bargain
with the opposite party, in order that we
should get rid entirely and forever of the Ia
rlfi question. Indeed. in his opinion, such are
The prospects of the Wing party that he would
be willing 10 risk the decision of the matter at
the approaching election. He had received
many communications from different parts of
the United States, inviting him TO explain the
facts in relation to the course pursued by
Henry Clay Of Kentucky, and Theodore Ere
linghuysen OF New Jersy, in reference to the
Act OF the 2nd of March, 1893, commonly
called the Compromise. Strange as i, miyh,
seem, these tried partiots and able statesmen
had been charged by our opponents with
abandoning the Protective policy of the coun-
try He found it impossible 10 answer all
the letters that he had received OH thesubect;
but if his lelow-citizens would have patience.
he would attempt RELY to all these inlerro-
gatores in what he was now about TO saw.
"a voice notwithstanding, we will.o)
He said
CA chiefs amang them takin' notes,
An faith he'll prent en- -
Therefore he hoped all who felt an interest in
what he had 10 say, would receive the inGor-
nation through the public prints. applause
lie was member Of the Senate of The u.
States at the time of the passage of the Com
promise Act, and was also IA member of the
Committee to which it was referred He was
on Of tbnc uh,, -: -. N
and for lis passage; and he thought he had as
great an opportunity of knowing the motives
and objects of Mr.. Clay and Mr. Frelinghuy-
sen, as any other man belonging to that hon
orable body ;-and he would now say briefly
before he proceeded further, that the grea,
objects they had in view, were not only to
save the honor of the States then in danger :;
but also 10 save the Protective principle and
The protective policy itself.
u was quite common error, even among
intelligent men, 10 suppose that the act which
those gentlemen voted for, did, in some part
of it, abandon the protective principle Il
was by some upposed-iEdeed, il was by
many believed, that the act was an act to re-
duce the duties down to 20 per cent. at the
end OF nine years and four months. and thai
the act contained binding stipulation that
alter the goth day Of June 1912, the duties
should not be laid higher than twenty per
cent--a duty insufficient for protection. and in
Tact insufficient. for The purposes of revenue
Itseli. lie knew that in order that the meet
ing should understand the subject, they must
accompany him through dull delai! of tlrow-
! sy iacis, but the question assumed an interest
/ II had never assumed before, and il was very
Important, nay, absolutely necessary, that ii
should be placed in proper light before the
| people, as well for their information as i'm JUS
tee TO the great statesman and patriot whom
the country delighted TO hoDor.-( Great and
enthusiastic cheerng.)
I Ii was not true that The act called the COM
promise, was a bill TO reduce duties merely at
( iAe end Of stipulated period down to 20
per cent. The first section of that act pro-
vldcs for such reduction. but the third sec
ton positively provides that after the 3Oh OF
June, 1912, such duties only shall be laid as
! will raise sufficient revenue for the economi-
cal administration Of the Government. and
that those duties shall be assessed ON the
home valuation and be made PAYABLE in cash
Now, the act, when fairly explained. was an
act to reduce the duties 10 20 per cent at the
time specified, unless, at that il should be
! found that the duties were insufficient TO SIM
| port the wants oil the Government, and il
| they were, then the act positively provided
that such duties should be laid TO meet those
wants, and further that they should be col.
lected in the manner that he had jus. described
| Observe, that according to the language OF
the bill, which he had just quoted, all revenue
necessary for the support of the Government
must be derived from import duties, and impor
/ duties alone,afler the 30th ofJune, 1912. Well
! how is the revenue derived Under the net o
| 1912; Notfrom import duties alone, but from