Apprehending that a revision of the tariff might be deemed necessary, the President expressed a wish, that in that case, moderate counsels might prevail. In regard to discrimination as to articles, on which a duty might be laid, he admitted that so long as reference was had to revenue to the wants of the treasury, no well founded objection could exist against such discrimination, although by that means incidental protection should be furnished to manufactures. It might, however, he said, be esteemed desirable that no such augmentation of the taxes should take place, as would have the effect of annulling the land proceeds distribution act of the last session, which act is declared to be in operation the moment the duties are increasedbeyond twenty per cent., the maximum rate established by the compromise act.
Next, he adverted to a pledge, which he had given at a former day, to suggest a plan for the control and safe-keeping of the public funds. “This plan contemplates,” said he, “the establishment of a board of control, at the seat of government, with agencies at prominent commercial points, or wherever else congress shall direct, for the safe-keeping and disbursement of the public moneys; and a substitution, at the option of the public creditors, of treasury notes, in lieu of gold and silver. It proposes to limit the issues to an amount not to exceed 15,000,000 dollars—without the express sanction of the legislative power. It also authorizes the receipt of individual deposits of gold and silver to a limited amount, and the granting of certificates of deposit, divided into such sums, as may be called for by the depositors. It proceeds a step further, and authorizes the purchase and sale of domestic bills, and drafts resting on a real and substantial basis, payable at sight, or having but a short time to run, and drawn on places not less than one hundred miles apart—which authority, except in so far as may be necessary for the government purposes exclusively, is only to be exerted upon express condition, that its exercise shall not be prohibited by the state in which the agency is situated.
“In order to cover the expenses incident to the plan, it will be authorized to receive moderate premiums for certificates issued on deposits, and on bills bought and sold, and thus, as far as its dealings extend, to furnish facilities to commercial intercourse at the lowest possible rates, and to subduct from the earnings of industry, the least possible sum. It uses the state banks at a distance from the agencies as auxiliaries, without imparting any power to trade in its name. It is subjected to such guards and restraints as appear to be necessary. It is the creature of law, and exists only at the pleasure of the legislature. It is made to rest on an actual specie basis, in order to redeem the notes at the places of issue—produces no dangerous redundancy of circulation—affords no temptation to speculation—is attended by no inflation of prices—is equable in its operation—makes the treasury notes, which it may use along with the certificates of deposit, and the notes of specie paying banks—convertible at the place where collected, receivable in payment of government dues—and, without violating any principle of the Constitution, affords the government and the people such facilities as are called for by the wants of both. Such, it has appeared to me, are its recommendations, and in view of them it will be submitted, whenever you require it, to your consideration.”
Among the measures adopted by the second session of the twenty-fifth congress, the first we shall notice was an act for apportioning the representatives, among the several states according to the fourth census. Several different ratios were proposed, but at length the number of one representative for every 50,179 was adopted by the house. This number was changed in the senate for 70,680; and after a long discussion in the house, the amendment was agreed to. A further amendment was also concurred in, viz., that each state having a fraction greater than a moiety of the said ratio should be entitled to an additional representative. This act received the approval and signature of the President on the twenty-fifth of June. But accompanying the message, announcing that approval, was an intimation that he had caused the act to be deposited in the office of the secretary of state, accompanied byan exposition of his reasons for giving it his sanction. Such a course on the part of a president, being unprecedented, a resolution was adopted, calling on the secretary for an authenticated copy of those reasons.
When furnished, it appeared that the chief objection which the President had to the bill, was its mandatory requisition upon the states to form districts for the choice of representatives to congress, in single districts. Of the constitutional power of congress in this respect, as well as in regard to the policy of the act, he had serious doubts; but he had signed the bill “from respect to the declared will of the two houses.”
The course thus taken by the President, in depositing this act, with his reasons, in the office of the secretary of state, being entirely novel, and in the view of many highly exceptionable, the subject was referred to a committee, who submitted a long report, in which they said, “the committee consider the act of the President, notified by him to the house of representatives, in his message of the 23d ult., as unauthorized by the constitution and laws of the United States, pernicious in its immediate operation, and imminently dangerous in its tendencies. They believe it to be the duty of the house to protest against it, and to place upon their journal an earnest remonstrance against its ever being again repeated.”
On the 31st of March, 1842, an interesting scene transpired in the Senate. This was the withdrawal of Mr. Clay from his senatorial office, to private life, after a continuous service of nearly thirty-six years in the public councils, in conformity to a letter of resignation, which, on the 16th of February, he had addressed to the general assembly of Kentucky. Previously to retiring, Mr. Clay made use of the occasion of presenting the credentials of his appointed successor, to address to the senate some valedictory remarks, in which he touched briefly and successively on the high constitutional attributes and character of the senate, on his long service in that and other departments of the public service, on the state of public affairs, with some references personal to himself. This address, delivered with unusual earnestness and depth of intonation, was received by the senate, and an immense concourse of auditors, with deep silence and the most profound attention. As it was an event, and a moment calculated to fill the veteran statesman with emotion, it was one which imparted a sympathetic interest to the public; and, in the expectation and hope of hearing again, and for the last time, the manly tones of that voice which had so often thrilled every heart with delight and admiration, the chamber and galleries were early filled with an eager and anxious auditory of both sexes. Seldom have the anticipations of any assemblage in the capitol been more richly realized, or their sensibilities more profoundly excited. The scene was indeed most impressive, and will never be forgotten by any of the thousand individuals who witnessed it. At one moment, when the orator approached the theme of his gratitude to the noble state, which had so long honored and cherished him, when his utterance was choked, and his voice failed, and he paused to wipe the tears from his eyes, it is believed there were few other eyes present which remained dry.
In the course of his valedictory, he said: “I go from this place under the hope that we shall mutually consign to perpetual oblivion, whatever personal collisions may at any time unfortunately have occurred between us; and that our recollections shall dwell in future only on those conflicts of mind with mind, those intellectual struggles, those noble exhibitions of the powers of logic, argument, and eloquence, honorable to the senate, and to the nation,in which each has sought and contended for what he deemed the best mode of accomplishing one common object, the interest and the most happiness of our beloved country. To these thrilling and delightful scenes, it will be my pleasure and my pride to look back in my retirement with unmeasured satisfaction.”
In conclusion, he added: “In retiring as I am about to do, for ever from the senate, suffer me to express my heartfelt wishes that all the great and patriotic objects of the wise framers of our constitution may be fulfilled; that the high destiny designed for it, may be fully answered; and that its deliberations, now and hereafter, may eventuate in securing the prosperity of our beloved country, in maintaining its rights and honors abroad, and upholding its interests at home. I retire, I know, at a period of infinite distress and embarrassment. I wish I could take my leave of you under more favorable auspices; but, without meaning at this time to say whether on any, or on whom reproaches for the sad condition of the country should fall, I appeal to the senate and to the world to bear testimony to my earnest and continued exertions to avert it, and to the truth that no blame can justly attach to me.
“May the most precious blessings of Heaven rest upon the whole senate, and each member of it, and may the labours of every one redound to the benefit of the nation, and the advancement of his own fame and renown. And when you shall return to the bosom of your constituents, may you receive that most cheering and gratifying of all human rewards—their cordial greeting of ‘Well done, good and faithful servant.’