Then in regard to our mineral wealth. We have vast masses of coal and iron scattered with a profuse hand under the surface of our soil. These are far more valuable than the golden sands and golden ore of California. The patient labor necessary to extract these treasures from the earth, and bring them to market, strengthens the sinews of the laborer, makes him self-reliant and dependent upon his own exertions, infuses courage into the heart, and produces a race capable of maintaining their liberties at home and of defending their country against any and every foreign foe. Look at your neighboring town of Richmond. There three millions of tons of coal are annually brought to market, and the domestic tonnage employed for sending it abroad exceeds the whole foreign tonnage of the city of New York. All these vast productions of our agriculture and our mines are the natural aliments of foreign commerce for the city of Philadelphia.

But this is not all. Our Central Railroad will soon be completed; and when this is finished, it will furnish the avenue by which the productions of the great West will seek a market in Philadelphia. It will connect with a chain of numerous other railroads, penetrating the vast valley of the Mississippi in different directions, which will bring the productions of that extended region to seek a market in Philadelphia.

And with these unexampled materials for foreign commerce, is it possible that the city of Philadelphia will hold back? Will she not employ her capital in a vigorous effort to turn to her own advantage all these elements of wealth which Providence has placed within her reach? What is the smallest share of foreign commerce to which she is legitimately entitled? It is at least to import into Philadelphia all the foreign goods necessary for the supply of Pennsylvania and the far West, which seek her markets for their productions. She is bound, by every principle of interest and duty, to bring to her own wharves this amount of foreign trade, and never as a Pennsylvanian shall I rest satisfied until she shall have attained this measure of success. Shall she then tamely look on and suffer her great rival city, of which every American ought to be proud, to monopolize the profit and advantages to which she is justly and fairly entitled? Shall New York continue to be the importing city for Philadelphia? Shall she any longer be taunted with the imputation that so far as foreign trade is concerned, she is a mere provincial and dependent city? She can, if she but energetically wills it, change this course of trade so disadvantageous to her character and her interests; and the proceedings of this meeting afford abundant assurances that from this day forth she is destined to enter upon a new and glorious career. She must be prepared to encounter and to overcome serious competition. She must therefore nerve her arm for the struggle. The struggle is worthy of her most determined efforts.

CHAPTER II.
1852.

THE PRESIDENTIAL NOMINATIONS OF 1852—ELECTION OF GENERAL FRANKLIN PIERCE TO THE PRESIDENCY—BUCHANAN’S COURSE IN REGARD TO THE NOMINATION AND THE ELECTION—HIS EFFORTS TO DEFEAT THE WHIG CANDIDATE.

In arraying themselves for the Presidential election of 1852, the Democratic and the Whig parties might have had an equal or a nearly equal reason to look for success, if they had been equally consistent with their professed principles on the subject of the compromise measures of 1850. But while the Democrats, both by their “platform” and their candidate, gave the people of the country reason to believe that the great national settlement of 1850 was to be adhered to, the Whigs, although promising as much by their “platform,” did not, in the person of their candidate and his apparent political connections, afford the same grounds of confidence. The nominating convention of the Democrats was the first to be held. It assembled at Baltimore on the 1st of June, 1852. Mr. Buchanan was one of the principal candidates for the nomination, but it soon became apparent that neither he, General Cass, Mr. Douglas, Mr. Dickinson, Governor Marcy, or any other of the more prominent leaders of the party would receive it. The candidate finally agreed upon was General Franklin Pierce of New Hampshire, a younger man than most of the others. He had been a Senator in Congress from that State for five years preceding 1842, and had served with spirit in the Mexican war as a Brigadier General of Volunteers. As a candidate for the Presidency, he represented in the fullest and most unqualified manner the resolution adopted by the convention as a part of its “platform,” and which pledged him and his party to “resist all attempts at renewing in Congress, or out of it, the agitation of the slavery question, under whatever shape or color the attempt may be made.”

On the other hand, the Whig convention, which assembled at Baltimore on the 16th of June, nominated General Winfield Scott, to the exclusion of Mr. Webster and President Fillmore, after fifty-two ballotings; and although the resolutions, with a strength equal to that of the Democratic “platform,” affirmed the binding character of the compromise measures of 1850, and opposed all further agitation of the questions thus settled, as dangerous to the peace of the country, seventy delegates from free States, who had voted steadily for General Scott as the candidate, recorded their votes against this resolution, and many Whig papers in the North refused to be bound by it, and treated it with utter contumely. The result was the election of General Pierce as President, and William R. King of Alabama as Vice President, by the almost unprecedented majority of one hundred and five electoral votes more than was necessary for a choice. General Scott obtained the electoral votes of but four States, Massachusetts, Vermont, Kentucky and Tennessee; forty-two in all.

The reader will be interested to learn from the following private correspondence how Mr. Buchanan felt and acted before and after the nomination of General Pierce, and also how one of his prominent rivals, Governor Marcy, felt and acted towards him and others. It is refreshing to look back to the good nature and cool philosophy which could be exhibited by such men in regard to the great stake of the Presidency:

[GOVERNOR MARCY TO MR. BUCHANAN.]

Albany, May 31, 1852.