Let me endeavor to recall to recollection the state of things about the period when I had the unhappiness to dedicate myself to political life.

Through the opposition, bold but just, which was made by myself, and those associated with me, to the measures of that Administration, an entire change was effected in the control of the Government. One Administration was ejected from power, and another took its place. Is it necessary for me to descant upon the topics of difference which then separated the two great parties in the Government? Is it necessary for me at this time of day to make a declaration of the principles of the Republican party? Is it possible that such a declaration could be deemed orthodox when proceeding from lips so unholy as those of an excommunicant from that church? It is not necessary. Those principles are on record; they are engraved upon it indelibly by the press, and will live as long as the art of printing is suffered to exist. It is not for any man at this day to undertake to change them. It is not for any man who then professed them, by any guise or circumlocution, to conceal apostacy from them, for they are there—there in the book. What are they? They have been delivered to you by my honorable colleague—what are they? Love of peace, hatred of offensive war; jealousy of the State Governments towards the General Government, and of the influence of the Executive Government over the co-ordinate branches of that Government; a dread of standing armies; a loathing of public debt, taxes, and excises; tenderness for the liberty of the citizen; jealousy, Argus-eyed jealousy, of the patronage of the President. From these principles what desertions have we not witnessed? Will you have a list of them? I shall not undertake it.

Principle does not consist in names. Federalism is a real thing—not a spectre, a shadow, a phantom. It is a living addition to the power of the General Government, in preference to the power of the States; partiality for the Executive power, in distinction to that of the co-ordinate Departments of the Government; the support of great military and naval force, and of an "energetic" administration of the Government. That is what is called Federalism. Yes, an energetic Administration, not in its real, but technical sense; for it has a sense as technical as any in our laws. That is Federalism. And, when I am opposing the course which looks toward the rearing up of great Military and Naval Establishments, of an extent not only incommensurate with the necessity but the ability of my country, I care not with whom I vote; I will be true to my principles. Let any man lay his finger upon a vote in which, since I have had the honor (if, indeed, it be an honor) of a seat in this House, I have departed from those principles, and I will consent that, quoad hoc, I am a Federalist. But it will be in vain to search for such a vote.

So strenuous, sir, had been the contest—so hot the spirit of rivalship between the two contending parties—that, after the Revolution of 1801, a curious spectacle was presented to this nation and to the world—a spectacle which, I am bold to say, never did before make its appearance in any Government, and never will appear again. It was this: that, as if the character that each party had borne when in collision with one another was indelible, the two parties, after power was transferred from one to the other, did actually maintain the same character which they had derived from impressions received during their late conflict: and the admiring world saw with astonishment the case of an opposition minority attempting to force upon a reluctant Administration patronage and power, which that Administration put by, and sternly refused to accept. Yes, sir; for a time so completely had the Republicans been imbued with the principles which they professed whilst in a minority, that, after becoming the majority, the Federalists pressed on their old adversaries power and patronage, to which they absolutely opposed themselves, repelling, for a season, every project of the kind. Is it necessary for me to allude to the reduction of the Army—to say by whom it was made? Sir, the proposition for it was originally made by the personage now addressing you; it came from what was then considered the Governmental side of the House. And by whom was it opposed? By gentlemen who had so long fought under the banners of a Government of "energy," that they were not content to submit to the diminution of its patronage or its power, even in the hands of their political opponents. I speak of facts. Such a case will never occur again. Nay, indeed, in a little time, the sweets of power had their effect on one side of the House, as the frowns of adversity had upon the other; and after awhile, the court and country parties as easily changed sides as right and left do when a man turns upon his heel.

Yes, sir, the tone of this House was soon changed. We succeeded, however, in the reduction of the Army; but I will trust to the recollection of gentlemen, upon all sides of the House, by what instrumentality this change was effected. The Commander of that Army was retained in his position. I have not leisure, health, or strength, to go into the details; gentlemen will remember them. Meanwhile, peace with this country was negotiated in France by the commissioners sent by Mr. Adams, and was followed up very soon afterwards by the short respite that the truce of Amiens gave to European combatants, wearied rather than satiated with slaughter. These events placed this country in the happiest condition. Of the proceeds of the direct and internal taxes voted by the predecessors of the administration of Mr. Jefferson, one moiety at least came into the Treasury after their dismissal from office. But these proceeds were not necessary to give an overflow of money into the Treasury, which we never ceased to have until we departed from those principles of government and that policy which brought us into power. We sailed on for some time in the full tide of successful experiment, unobstructed by squalls or adverse gales, if we except only the Yazoo breeze. That question was, if I forget not, the first cause of a breach between those persons who had a direct lead in the Government of the country. There were men who did not hesitate, in opposition to all the heads of your Departments, to throw themselves into the breach at that time attempted in the constitution of the country, to defend it, and to defend it with success. It appears, from some documents that have lately been laid upon our table, that errors of that day have been perceived, and that tender consciences which at that time revolted, are now entirely reconciled to the compromise which was then stamped with the reprobation of almost every honest man from Georgia to Virginia. There were considerations of personal feeling which gave to other parts of the Union, and to certain individuals therein, a bias on that subject; and I should be extremely sorry to be considered as passing any thing like general censure upon the advocates of that measure in or out of this House. I refer only, of course, to those who were not parties concerned in the fraud.

At that time, sir, all was prosperity and joy. At that time were accumulated in the Treasury those surpluses which, in one year, nearly equalled the sum for which, in the present year, the revenue is deficient, notwithstanding the loan of last year, and to make up which deficiency the head of the Treasury has been able to devise no other means than a resort to new loans. Yes, sir, there were then those surpluses in the Treasury, the ghosts of which lingered along its vaults for a time after their corporeal bodies departed, and were then heard of no more.

But to proceed. The expenditures of the Government, during the first four years of the Jefferson Administration, exclusive of payments on account of the public debt, averaged only eight millions of dollars a year. In the four last years of the Jefferson Administration, those expenditures were very greatly increased, amounting in the year 1808, (the last of the four,) without any increase of Army and Navy expenditures, to upwards of sixteen millions of dollars—rivalling the expenditures of any one year of Mr. Adams's war, and amounting to one-half as much as was expended by the Father of his Country in his eight years of the Presidency, during which he was called upon to establish public credit, to maintain a bloody Indian war, and to lay the foundation of that character of integrity which the Government has so long sustained abroad, notwithstanding the misconduct of its rulers. Yes, sir, it is a curious but notorious fact, that in 1808 and 1809—and I speak of 1809, for, although the present incumbent came into office on the 3d of March of that year, expenses were incurred and voted in his predecessor's time—the expenditures of the Government outraged all belief when compared with the objects on which they were lavished. And here, Mr. Chairman, let me put to you, and to the gentleman on my right, if it be within the compass of any man's powers to detract more from the merit of an administration of the Government of the United States in managing at least one branch of the revenue than has been done by that honorable gentleman? What has he said? I will not repeat his words; to do so would be odious, invidious; but I well know if what he did say had come from the other side of the House, it would have been set down to the rancor of party spirit; to personal spleen; or to want of respect for the White house, or the Red house, or some other house. What has become of that vast amount of money? No man knows; and to the best of my knowledge and belief, so help me God, no man will ever know.

I find, as I anticipated, a difficulty in dragging along my miserable body, and my feeble mind, in this discussion; a difficulty not less, perhaps, than that of dragging along with me the attention of members of this House. I ask its patience, its pardon, and its pity.

But to continue. In this prosperous state of our country, the war in Europe was renewed, or about to be renewed. The Government of the United States would naturally, from the situation of affairs in that quarter of the world, experience a temporary diminution in its revenue, which it need not feel or regard, because it had been enabled to make that noble provision for a sinking fund, for lessening the national debt, for paying off the mortgages on the estate of every man in the country and of those who are unborn. It had made that noble provision, which was attempted to be diverted to the necessities created by the policy of the last four years of Jefferson's Administration, and the actual diversion of which, I believe, was the first act of this Administration. It had made that appropriation of eight millions of dollars for a sinking fund, not to be touched for any other purpose, and which, at the time of the appropriation, no man dared to believe would be gambled away.

The war in Europe brought to this country, among other birds of passage, a ravenous flock of neutralized carriers, which interposed the flag of neutrality, not only between the property, but even between the persons of the two belligerent powers; and it was their clamor principally, aided by the representations of those of our merchants who saw and wished to participate in the gains of such a commerce, that the first step was taken in that policy of restriction, which it was then foreseen would lead to the disastrous condition in which we now find ourselves. Yes, it was then foreseen and foretold. What was then prophesied is now history. It is so. "You," said the prophet, "are prospering beyond all human example. You, favorites of Almighty God, while all the rest of the world are scourged, and ravaged, and desolated by war, are about to enter into a policy called preventive of war; a policy which comes into this House in the garb of peace, but which must end in war." And in war it has ended. Yes, sir, we have been tortured, fretted, goaded, until at last, like some poor man driven from his family by discord at home, who says to himself, "any thing, even exile, is better than this," we have said that we will take war; we will take any thing for a change. And when war came, what said the people? They said, "any thing for a change!"