I hope, Mr. President, that, in performing the painful duty which had devolved on me, I have not transcended the limits of legitimate debate. I repeat, in all truth and sincerity, the assurance to the Senate and to the country, that nothing but a stern, reluctant, and indispensable sense of honor and of duty could have forced from me the response which I have made to the President's objections. But instead of yielding without restraint to the feelings of disappointment and mortification excited by the perusal of his message, I have anxiously endeavored to temper the notice of it, which I have been compelled to take, by the respect due to the office of Chief Magistrate, and by the personal regard and esteem which I have ever entertained for its present incumbent.

44

ON A TRUE PUBLIC POLICY.

IN THE SENATE OF THE UNITED States, March 4, 1842.

[On the 25th of February, Mr. CLAY, in anticipation of his retirement from public life, submitted to the Senate Resolutions indicative of the line of policy upon which, in his judgment, the Federal Government should be conducted. These Resolutions coming up for consideration, Mr. CLAY spoke as follows:

MR. PRESIDENT:-The resolutions which are to form the subject of the present discussion, are of the greatest importance, involving interests of the highest character, and a system of policy which, in my opinion, lies at the bottom of any restoration of the prosperity of the country. In discussing them, I would address myself to you in the language of plainness, of soberness, and truth. I did not come here as if I were entering a garden full of flowers and of the richest shrubbery, to cull the tea-roses, the japonicas, the jasmines and woodbines, and weave them into a garland of the gayest colors, that by the beauty of the assortment and by their fragance I may gratify fair ladies. Nor is it my wish-it is far, far from my wish—to revive any subjects of a party character, or which might be calculated to renew the animosities which unhappily have hitherto prevailed between the two great political parties in the country. My course is far different from this, it is to speak to you of the sad condition of our country; to point out not the remote and original, but the proximate, the immediate causes which have produced and are likely to continue our distresses, and to suggest a remedy. If any one, in or out of the Senate, has imagined it to be my intention on this occasion to indulge in any ambitious display of language, to attempt any rhetorical flights, or to deal in any other figures than figures of arithmetic, he will find himself greatly disappointed. The farmer, if he is a judicious man, does not begin to plough till he has first laid off his land, and marked it off at proper distances by planting stakes by which his ploughmen are to be guided in their movements; and the ploughman accordingly fixes his eye upon the stake opposite to the end of the

destined furrow, and then endeavors to reach it by a straight and direct furrow. These resolutions are my stakes.

But, before I proceed to examine them, let me first meet and obviate certain objections, which, as I understand, have been or may be urged against them generally. I learn that it is said of these resolutions that they present only general propositions, and that instead of this, I should at once have introduced separate bills, and entered into detail and shown in what manner I propose to accomplish the objects which the resolutions propose. Let me here say, in reply, that the ancient principles and mode of legislation which have ever prevailed from the foundation of this government, has been to fix first upon the general principles which are to guide us and then carry out these principles by detailed legislation. Such has ever been the course pursued, not only in the country from which we derive our legislative institutions, but in our own. The memorable resolution offerred in the British House of Commons by the celebrated Mr. Dunning, is no doubt familiar to the mind of every one-that "the power of the Crown (and it is equally true of our own Chief Magistrate) had increased, was increasing, and ought to be diminished." When I was a member of another legislative body, which meets in the opposite extremity of this Capitol, it was the course, in reference to the great questions of internal improvement and other leading measures of public policy, to propose specific resolutions, going to mark out the principles of action which ought to be adopted, and then to carry out these principles by subsequent enactments. Another objection is urged, as I understand, against one of these resolutions, which is this, that by the Constitution no bill for raising revenue can originate any where but in the House of Representatives. It is true, that we cannot originate such a bill; but, undoubtedly, in contemplating the condition of the public affairs, and in the right consideration of all questions touching the amount of revenue and the mode in which it shall be raised, and involving the great questions of expenditure and retrenchment, and how far the expenses of the government may safely and properly be diminished, it is perfectly legitimate for us to deliberate and to act as duty may demand. There can be no question but that, during the present session of Congress, a bill of revenue will be sent to us from the other House; and if, when it comes, we shall first have gone through with a consideration of the general subject, fixing the principles of policy proper to be pursued in relation

to it, it will greatly economise the time of the Senate, and proportionably save a large amount of the public money.

· Perhaps no better mode can be pursued of discussing the resolutions I have had the honor to present, than to take them up in the order of their arrangement, as I presented them to the Senate, after much deliberate consideration. The first resolution declares:

"That it is the duty of the general Government, for conducting its administration, to provide an adequate revenue within the year to meet the current expenses of the year; and that any expedient, either by loan or treasury notes, to supply, in time of peace, a deficiency of revenue, especially during successive years, is unwise, and must lead to pernicious consequences."

I have heard it asserted that this rule is but a truism. If so, I regret to say, that it is one from which governments too often depart, and from which this government especially has departed during the last five years. Has an adequate revenue been provided within each of those years to meet the necessary expenses of those same years? No far otherwise. In 1837, at the called session, instead of imposing the requisite amount of taxes on the free articles, according to the provisions of the compromise act, what was the resort of the administration? To treasury notes. And the same expedient of treasury notes was ever since adopted, from year to year, to supply the deficit accruing. And of necessity this policy cast upon the administration succeeding an unascertained, unliquidated debt, inducing a temporary necessity on that administration to have resort to the same means of supply.

I do not advert to these facts with any purpose of crimination or recrimination. Far from it: for we have reached that state of the public affairs when the country lies bleeding at every pore, and when, as I earnestly hope and trust, we shall by common consent, dispense with our party prejudices, and agree to look at any measure proposed for the public relief as patriots and statesmen. I say then, that, during the four years of the administration of Mr. Van Buren, there was an excess of expenditure over the income of the government to the amount of between seven and eight millions of dollars; and I say that it was the duty of that administration, the moment they found this deficit to exist in the revenue, to have resorted to the adequate remedy by laying the requisite amount of taxes on the free articles to meet and to supply the deficiency.

I shall say nothing more on the first resolution, because I do hope that, whatever the previous practice of this government may have been, there is no Senator here who will hesitate to concur in the truth of the general proposition it contains. The next three resolutions all relate to the same general subjects-subjects which I consider much the most important of any here set forth; and I shall, for that reason, consider them together. These resolutions assert:

"That such an adequate revenue cannot be obtained by duties on foreign imports without adopting a higher rate than twenty per cent. as provided for in the compromise act, which, at the time of its passage, was supposed and assumed as a rate that would supply a sufficient revenue for an economical administration of the Government."

"That the rate of duties on foreign imports ought to be augmented beyond the rate of twenty per cent. so as to produce a net revenue of twenty-six millions of dollars-twenty-two for the ordinary expenses of Government, two for the payment of the existing debt, ond two millions as a reserved fund for contingencies."

"That, in the adjustment of a tariff to raise an amount of twenty-six millions of revenue, the prinpiples of the compromise act generally should be adhered to; and that especially a maximum rate of ad valorem duties should be established, from which there ought to be as little departure as possible."

The first question which these resolutions suggest, is this: What should be the amount of the annual expenditures of this government? Now, on this point, I shall not attempt what is impossible, to be exact and precise in stating what that may be. We can only make an approximation. No man, in his private affairs, can say, or pretends to say, at the beginning of the year, precisely what shall be the amount of his expenses during the year: that must depend on many unforseen contingencies, which cannot with any precision be calculated beforehand: all that can be done is to make an approximation to what ought to be or what may be the amount. Before I consider that question, allow me to correct here an assertion made first by the Senator from South Carolina (Mr. Calhoun) and subsequently by the Senator from Missouri, near me, (Mr. Linn) and I believe by one or two other gentlemen, namely, that the Whig party, when out of power, asserted that, if trusted with the helm, they would administer this government at an amount of expenditure not exceeding thirteen millions of dollars. I hope, if such an assertion was actually made by either or all of these gentlemen, that it will never be repeated again without resorting to proof to sustain it. I know of no such position ever taken by the Whig party, or by any prominent member of the Whig party. Sure I am that the party generally pledged itself to no such reduction of the public expenses-none.