Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1856-07-11
From the Charleston Mercury, Of the 9th June
Han. James Buchanan.

Mr.
Ian made the subject of much comment, and his
Doer for that bill is claimed conclusive proof of
his being an advocate of high iarlf1s. candid pc
sol of the facts of the case will, we think, put the
charge fairly to rest and II is 10 this point that we
~ invite our readers.
"O f. will be remembered that, by the terms of the
ronrromise act of 1888, the Tariff was to undergo
Oor6dica reductions until 1912, when it was then to
h naced upon a Revenue basis Mr. Buchanan, az
Lfora stated expressed his willingness to abide BY
.bat Compromise in good faith. But before the ex
irotion of the Compromise Act, legal question
Prose. which divided the best minds of he country
was, whether further legislation would not be
oossary to carry out this provision OF the COmpro
o;se Mr. Calhoun held that further legislation was
necessary.
The condition of the Treasury also rendered such
step necessary. he whole country was suffering,
IN ali it's Interests, from pecunary embarrass-
rnents and universal bankruptcy Frustrated public
90 we'll as private credit. When Congress assembled
in 1872 The Treasury empty, the estimates ex-
nooded the revenue End an increase of the Tariff to
rnser the wants of the Government, was absolutely
Jomanded The advocates of high Tariff and Pro-
faction hailed the msfortunes of The Government as
an suspicious opportunity for carrying out their plans
distribution of the proceeds arising from the sale of
nnbhc lands was tavorite measure with the Wings,
and thew determined, if possible to retain his policy
and at The same time, 10 increase the Tariff although
these proceeds had been appropriated to the wants
of the Government that increase might have been
mo
Congress- containing this distribution clause, and
both were vetoed in quick succession, by President
TYLER The Wings still aGheIed 10 their policy and
the session was we'll nigh spent before any step was
taken to pass Tariff, and provide for the wants of
the Government. They knew that sonnet hing must
be done or the Government be left bankrupt, and
thew calculated upon this necessity 10 force the Dem
ocratlc purity into the measure of high Protective
Tariff The admitted necessity for further legisa.
ton upon the expiration of the Compromise act, and
II
ted the circumstances under which the Tariff of l842
was brought forward 1t up finally the 27 b
OF August three days before the ad journment, when
Mr. Buchan n and explained his position. His
speed will be found in full in The Congressional Globe
Our limits contne US TO extracts.
Mr.. BUCHANAN commenced by describing The con-
dtion of the country as follows
1.-THE only alternatives now presented 10 the Sc.
nate is, whether shall pass this bill, Or leave The
country in it's present deplorabe condition. Every
substitute proposed fer the bill has failed and it is
morally impossible that any other measure can now
be nlrodcced in It's stead, with the least hope OF
oess If we ad-
iourn without passing any BILL what will be the con
di,ion in which we shall leave the treasury of the
country? Why sir many of the ablest lawyers
throughout the Union, : well large majority in
both House OF Congress, hold the opinion, that there
is now no law in ex silence under which any revenue
can be colleced. THIS is the almost universal opn-
ion of the Wing party and ii is also the opinion of
NV friend from Sou Carolina, (Mr Cahoun,)
on whose judgment am disposed to place great re-
lance X Now,
our treasury is nsoIvenf the public creditors have
large demands against it which il is unable to
the state Of things is growing daily worse and there
IS even danger that the opera ions of The Government
may be wholly suspended and yet We propose to
adjourn, leaving The country IN this fearful, this
deplOrabe condition,
Now, maintain that the first duty of an American
statesman is to make any honorable sacrifice Of Opin-
oh no tn oh
and credit OF his country. Without the passage of
this YER, bil--for we can obtain other-we shall
be dsgraceI at home, and rtill more disgraced
abroad. y
81 have thus hastily sketched one side of the pic
ture; and now let me hasten to another. | admit,
most cheerfully. that the bill is extravagant in the
protection it affords Il 1t is bill of vhich I
do not approve and for 1hich 1Vod not cote acre 1,
not for the present unparalleled condition of the east
ing laW, the treasury and the country. had ear
nestly hoped that it might be modified and amended
by the Senate in such manner as to render it more
acceptable but in this have been utterly disap-
poined No reduction of duties whatever has been
made upon any of the protected articles, with the
exception Of iron-an article In which Fennsy lvana
is deeply nteresed-aDd one cent per square yard
on cotton baeging. The duties upon hammered
rolled and pig iron have been reduced considerably
below the standard of the act of 1882 but OF this
do not complain. | do not desire that any manu-
acture of Pennsylvania should be protected by pro-
Congress- at the commencement of the present session.
confess entertained better and brighter hopes.
| though hit that the propltlous moment had arrived
for settling the tariff question upon permenant basis
hope that such scale of duties could have been
agreed upon, considering the pressing demand for
revenue, as would have afforded sufficient incidental
protection to our leading branches of manufacture,
and prove satisfactory to the whole country. was
prepared 10 90 far possibly could TO atsfy the
wishes of my friends in the South, and believe that
thew were also DESTROYS of meeting me halfway, and
compromising this vexed question. | was disposed
to yield much, believing that less incidental pro
tec,on wou be sufficient for the manufactures,
when they knew it was to be permanent This spirit,
of Cancellation was that which gave birth TO our IN
Stitutons and this alone preserve them. In
such spirit advi- ed valued friend in the House
(Mr IngersolN 10 introduce q bill restoring the
duties as thew stood in 1889 This bill would have
scarcely produced sufficient revenue to supply the
of the treasury and it would have reduce all
the duties undr the act of 1882, in equal proportion
regretted TO find that this of cancellation
ceved no support from my Southern political friends,
wih aOhom 1t has eUer been my pride and pleasure to
act IN han mOny. Even proposition to restore the
duties to what they were in 1910, met with a SINH
lar tate and such my anxiety to manifest my
friendly disposition on the subject, that would have
voted yesterday for similar proposition, Intro-
duced BY he Senator from Virginia, (N1r RIves)
although | knew it then came too late, had 1t
not contained the to me odiOuS lax upon tea and
coffee If the present extravagdnt bill g. ould be for
Cej upon the country, feel conscious that have
done everything to avert it. in The on manner pos
Sibe by most earnestly and 81 'cerey endeavorlng to
unite political friends IN favor OF moderate
and oonciatory measure"
Such were Mr.. BUCHANAN's own torclble reasons
for voting for the tariff of 842. Mr.. SILAs WRIGHT, OF
New YORK an opponent of ecton voted for the bill
on The same grounds. Comment Is unnecessary. Mr