Herald of the times, and Rhode Islander. [volume] (Newport, R.I.) 1846-1849, 1848-11-02
Daniel Webster on the Tariff and
Sub..Treasury.

heuil Hall, Boston, on the evening Of the Gath,
on the Tariff and Sub-Treasury, as connected
with the approaching Presidential contest
We have not room for his speech entire, but
give very good abstract of it, from the Bos-
ton Courier. Mr. Webster said
find myself once again, gentlemen, called
upon to meet you within these walls, where,
surrounded by the images Of the great and
good men of our country, and the recollections
OF the past, have ten thousand voices speak
ing and admonshing you and me of our duty
as men and citizens. The invitation which
you have given me to address you again upon
public matters was unexpected but comply
with the wishes of the people, and of the
Wings Of Massachusetts, to lay before them
my opinions respecting the present state of the
internal affairs of our country and its future
prospects.
II cannot be disguised that the effects Of the
national elections now at hand, will be most
important. The results will be either great
good or great evil to the country, both at the
present time and in time TO come. There are
but two real candidates for the office of Pres-
dent, Wing candidate and Democratic can
didate. AS to the individual who is regarded
as the candidate of thiid party, whom some
of our late friends have seen fit to bring into
the field against US, l must say that, to speak
in military phrase, the whole proceeding seems
very much like diversion. / might go farth-
er were not the matter of 80 solemn charac-
ter, and pronounce it to be much of diversion
in theatrical sense. There are two candi-
dates, say, and no more. On the election of
the one OF the other of these candidates, great
events will depend the election of either will
Ira aft olnoal, "A
ally affecting the business of the country. If
Gen. Taylor be elected, with Wing Con-
gress, there are two very important laws
which will be either repealed or essentially
modified, namely, the Sub-treasury law and
the Tariff law Of 1916. If Gen. Cass be elect
ed, with Congress supporting his views and
the doctrines Of the party now striving to elect
him, both these laws will be continued. In
either case the event will be most important to
the people of this country.
read this morning speech delivered by
Mr.. Buchanan, the Secretary of State, one of
the ablcst men Of the party which supports the
present administration. Differing from that
gentleman as certainly do on political sub
jects, | must yet do him the justice to say that
his speech is a candid and manly speech lie
pays proper tribute to the military talent of
Gen. Taylor, but complains that he is a Wing,
and if elected President by the Wings, and
surrounded by Wing Cabinet, he must carry
inc effect Wing principles of government
Now | agree to all this have no doubt that
General Taylor will select Wing Cabinet,
and administer the government under their
counsel, from his own honest and deep convc-
tion OF the justice and soundness of Wing
principles.
As to Gen. Cass, will say without re-
serve, that my opinion is he will, if elected
President, be sustained by a Congress harmon
izing with his views, carry into effect the prin-
ciples of the democratic platform of Baltimore.
He will follow the footsteps of his great ex-
emplar Mr. Polk. Now in the present state
of things, the course of action lies plain before
us. As practical men, as men mot carried
away with theories or speculations, but men as
trusting to experience and knowledge Of facts,
we are brought TO this position, to support
either Gen. Taylor or Gen. Cass for the Presi-
dency, ard to prepare ourselves for the effects
and the measures which we know will newt
ably follow the election of the one or the other
of these candidates. The main question is
a very plain one-ought the Sub-treasury aud
the present tariff to be continued or not.
Is the sub-lreasury useful institution If
so, to whom Is it usefull Is it useful to bust
ness men Ito the laboring classes l-or to
government Now, what is the present state
of the country under the influence of the sub
treasury! You all know what it is. Money
is scarce, and bears high interest; this state
of the money market has continued more than
year. Business, moreover, is stagnating,
manufactures are declining. You all know
these to be facts. This scarcity of money and
this stagnatlon of business affect all classes of
4, ,kn J,o,o,rnnoly
the capitalist, impoverish the laborer, and
make the poor man poorer. Such state of
things will continue as long as the sub-treas-
ury and the tariff of 1916 remain, and the suf
ferings now experienced by the country will
increase from degree to degree, till they reach
point far beyond our present calculations.
The sub-treasury is one of the most absurd
fantasies that ever entered the head Of man,
one of the greatest Legislative deceptions, and
one Of the least plausible of all political frauds
ever practised. Is there another country in
the civilized world, living by commerce and
traffic, where the people have locked up their
circulating medium
Historically can ask, How did the Sub
Treasury come into existence! Why, it is
all very plain Gen. Jackson got into contro-
versy with the United States Bank, and with
drew the peoples money from 1t in 1873
And how did he keep 1t after this withdrawal
Why, by what he called an experiment. lie
put the money in certain private banks for safe
keeping; the experiment failed, and the banks
blew up in 1886 and 1897. Mr.. Van Buren
was then in office. lie called an extra session
Of Congress in the first year Of his admnstra-
tion and he and his counsellors produced an
original idea-that Of the present Sub-Treas-
ury ; original it certainly was, foi they stole
no other mans invention. The country tried
this original idea. You and ] labored hard
against it, and did what we could to expose its
mischief. At length the Wings turned Mr.
Van Burcn out of oflice-and there is now no
longer any question between the Wings and
MIR. Van Buren,; but it lies between the Wings
and the ub-Treasury.
What are the Wings now requested TO do
by certain personsl Why, TO take back Mr..
Van Buren and his Sub-Treasury could
name many individuals who were united with
US in our opposition to the Sub b-Treasury, both
in Congress and out Of it, and who denounced
that measure as the greatest evil hich could
be inflicted upon commercial people. These
men now lock Mr.. Van BuIen up in their en-
Braces with as tight grasp as his Sub-Tress-
ury ooes that Office for tho cash Of this suffer
inp community