Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1852-06-19
Speech of Hon. Abraham KencHef'
OF CHATHAM,
Delivered IN the Democratic State Conpent'o" q
North Carolina, May IA, 1907.
Hon. ABRAHAM RENCHER, beng Loudly c"lle'l


M. President: Having been so long with
drawn from public political discussions, L desire
rather to listen to others than engage IN deoaIe
,ovself: but the wish of the Convention just man.
Tested in so kind manner, leaves me no aiterl,'-
five. The resolutions YOU have adopted, and the
nomination you have just made, makes the TASK ''l'
easy and agreeable one. They commend them
selves one and all, not only to my Judgment oMt
to the cordial approval of my heart They are lul!
frank, and unequivocal; they embody the primer
pies of the republican party from its foundaIion'
These principles adorned and immortalzed the ~ IA
ministraton of Mr.. Jefferson, and were noUy iii.'S
trated and enforced by that of James IA Folk' wlo'
unfortunately for his country to9no 'oo l e hat
grave but who lived long enough 10 ni''AG 'lU
grave through all future time, dear to the hearts
of all republicans r.,, r,or
vention while submit a few observations that are
of a personal character. Early IN life attacneo
myseif to the Republican Party, convinced that
the principles of constitutional construction hela
nv that party-and contained in the Virginia and
Kentucky Resolutions of '99 and '99-were the
true principles of the constitution, and the only
ones which could preserve popular liberty ana Ut
the aruc time perpetuate the Union of the States;
subsequent experience has but confirmed and
strengthened me in this opinion. But upon the
close of Gen. Jacksons Administration found my
self separated from my old and early political friends
allude to the Bank of the United States. had
been opposed to the Bank, had acted against Its
re-charter and had deprecated and denounced, us
now do its spirit of dctation and corrupuon'
But upon the expiration of its charter such were
the disasters to commerce, finance ana revenue,
I came to the conclusion that a Bank OF the United
States in some form, though an evil, had become
a necessary one. Our commerce lay PROSTATE, our
State Banks every where suspended specie pay
ments and our exchanges were excessive and IN
the greatest disorder. Such the disastrous
condition of the country from the close OF zen.
Jackson's Administration till some time after the
termination of that of his successor; it followed
Immediately after the expiration of the charter OF
the Bank of the United States, and left deep I'M
preston that it resulted from the absence of such
an institution. l confess | was one of those who
fell into that error. Though l sawn the constitu-
ton no express authority for the creation of Bank,
believed it authorized by that clause in the con-
stitution which gives to Congress power and author
ity to make all laws 'necessdTy and proper to
carry into effect other powers expressly given and
that Bank had become necessary and proper for
the collection, safe-keeping, and disbursement OF
the public revenue. | am now satisfied that In this
opinion 1 was wrong. Subsequent events have
shown me to have been
Without the aid of such an institution saw
commerce revive, the State Banks resume specie
payments, exchanges become equal and uniform
throughout the Union, and prosperity again cover
our land. This, too, under the Administration OF
John Tyler, abandoned and denounced as he was
by most of those who had brought him into pow
er, and left to be supported only by those who, ri
sing above party influences, looked only to Their
country, their whole country, and nothing but their
country. If sympathsing with a suffering coun-
try fell into error, but followed the example Of
such men as James Madison, Bartlett Yancy and
other distinguished republicans They committed
the same error under similar circumstances, and
if now living would doubtless make the same adj
mission-for myself, do with pleasure. l am
happy to find that institution so potent for evil
is not necessary to the government, and that the
sub-Treasury has been found by experience to an
all the beneficial purposes of a fiscal agent.
Who denies it? Does any one prefer its repeal, or
to substitute for it Bank of the United States
No one-not even this high toned federal Admin
istration.
But 1 have heard it said, Mr. President, that the
Federal party now in power acquiesce IN the meas
ures of the late Democratic Administration, and
that they are not to be changed. | wish | could
believe it wish had some well-founded reason
for such belief. l wish could be assured that
that great measure of revenue, so successfully and
nobly carried out by the late Administration was
not to be touched if the fedcralists should again
come into power. l allude to the Tariff of 1876
which has been prophecy fulfilled which, while
1t greatly diminished the burthens upon the peo
pie, has greatly augmented the public revenue
BY this great measure the late Administration said
to the farmers and planters of the county," we
wish to give you as free trade as is consistent
with just regard to revenue-if we impose
burthens it is to supply the wants of the Govern
ment, and for no other purpose - while it said tc
the Manufacturers the duties imposed uDon for
eign manufactures greatly augment the price O
yours, and give you ample protection it makes
the profits of your labor and capital much greater
than that OF the farmer and planter and we car
impose no greater burthens upon them simply fol
your benefit" Very different is the policy and
language of the other party. Their constant cry
has been, and is, Taxes |! more taxes upon the
people NOT to supply the wants of the Govern
ment, but to swell the profits of the greedy man
utacturer." Taxation, which in other countries !:
considered burthen, is here demanded as a bless
ing! To the manufacturer it is indeed a blessino
but to the farmer and planter it is at all times
burthen; while it makes lordIings of the one, il
makes hewers Of wood and drawers of water
OF the other. Let no one rest secure that this Oh
pressiye system is not again to be imposed upor
us: Once give the federalists power and they
will make you feel it; already it has been recon-
mended by the present federal Executive who's,
Administration was endorsed by the late WING
Convention in this place. Thanks to the intelli
gence and patriotism of the American people. tn,
recommendation fell still born
Connected with Tariff for protection is that O
Internal improvement by the Federal Government
10 create an excuse for high taxes, the Fedora