THE LIFE AND TIMES OF HENRY CLAY. BY CALVIN COLTON, AUTHOR OF THE "JUNIUS TRACTS"-"FOUR YEARS IN GREAT BRITAIN"-" TOUR OF IN TWO VOLUMES, VOL. II. NEW YORK: 51 JOHN STREET. 1846. Entered according to Act of Congress, in the year 1845, BY CALVIN COLTON, in the Clerk's Office of the District Court of the United States, in and for the Southern District of New York. STEREOTYPED BY REDFIELD & SAVAGE, 13 Chambers Street, N. Y. C. A. ALVORD, PRINTER, CORNER OF JOHN AND DUTCH STREETS. NOTE. In the introduction of this work, the author announced as one of his rules in its composition, that he had confined himself to the life and career of Mr. Clay, and that he does not profess to give history any further than Mr. Clay has been connected with it. He also suggested, that he has not been able to use all the materials found within these limits. It will be obvious, therefore, that wide as has been his range, and comprehensive as has been the view of public affairs which he has been obliged to take, the history contained in these volumes is rather personal than general. It can not but be observed, that Mr. Clay's public life has been one of conflict, and that the principles and measures he has advocated, have been stormed by opposition, often amounting to animated hostility, and sometimes to bitter personal animosity. It can not, therefore, be surprising, but should be expected, that the author, sympathizing with Mr. Clay's principles, and with himself when assailed on account of his principles, should earnestly, when he could conscientiously, defend both the one and the other. How else could he do justice to his subject? This duty of the author has necessarily led him to use some freedom of remark toward public men. The times of Mr. Clay have been characterized with strife for great and vital principles of a young republic. In whatever he has been right, he could not be vindicated, without a showing of the wrong; and it has so happened, that the wrong done to the country, as well as to Mr. Clay, has, in some instances, according to the convictions of the author, been very great and flagrant. It was unavoidable, therefore, that he should speak of all concerned in these controversies, as the merits of the questions seemed to require. However undesirable it may be in itself, to arraign the by-gone acts of those who occupy eminent positions in society, duty to the commonwealth is paramount to respect for individuals, if their conduct demands animadversion. If anything can purchase impunity for political offences, or silence remonstrance, or seal up the records of history, the strongest motives to fidelity in the public service are destroyed. The author has endeavored so to exhibit the political history of the country, which was necessarily involved in his undertaking, as to show its practical bearings on the great interests of the people. It will be seen, that he has endeavored to give form to an important doctrine on the subject of protection, not before clearly defined. If he has succeeded in showing, that political freedom for the masses is indissolubly connected with protection of their labor, where such freedom exists, he will have accomplished what he very much desired, as he sincerely believes, that all that is necessary to the protective policy, IN and FOR the United States, is comprehended in a right understanding of the relation between LABOR AS AN AGENT OF POWER AND LABOR AS AN INDEPENDENT AGENT. He thinks that the entire doctrine of the protective policy in THIS country, must ultimately resolve itself into this, and that when it is fully understood, there will be nothing else of it, but the simple principle-LABOR AGAINST POWER. The rights of property and of labor once secured, the great end of political society would seem to be accomplished. Then, and not till then, will labor have its own fair and rightful chances to acquire property, retain it, and be independent. Nothing, therefore, has a greater interest in maintaining and vindicating the rights of property, when its own rights are secured, than labor, in all its departments, intellectual, professional, artistical, agricultural, manufacturing, mechanical, commercial, and manipulation of every description-whatever, indeed, is labor necessary to the wants of man and to the perfection of the social state. TABLE OF CONTENTS. Page. THE CURRENCY.-Mr. Clay's Views in 1811.-His Change of Opinion on a National Bank.-Reasons.-The Constitutional Question.-Not Banks, but a Tariff, that makes Money Plenty and Sound.-Losses to the Country by State Banks.-General Jackson's Veto of the Bank in 1832.-Reasons.-Remarks of Mr. Clay on the Veto.-The Motives out of Sight.-The Wiles of the Ma- gician. The Way the State of New York was brought under.-How General Jackson attempted to bring the Nation under.-Failure.-Vengeance. THE CURRENCY.-Mr. Van Buren's Accession.-The Extra Session of 1837.- The Sub-Treasury.-Its Failure at the Extra Session.-Subsequent Debate on the Message.-Mr. Clay's Views of it.-His Examination of the Gradual Opening of General Jackson's Scheme of a Government Bank.-Mr. Clay's Argument in 1838, and his Warning on the Passage of the Bill in 1840.—Mr. Van Buren's Servility proves his Destruction.-Capital and Labor.—The REMOVAL OF THE DEPOSITES.-Care of the Public Funds committed by Law to Congress, and by Law forbidden to the Executive.-An Opinion of the Su- preme Court.-The Secretary of the Treasury an Agent of Congress, not of the Executive.-Required to make his Report to Congress.-The Secretary of the Treasury reads a Lecture to Congress, and helps them out of a Difficulty. -An Employée that has more Power than his Principals.-The Airs of an unrobed Official.-Mr. Clay's Resolutions.-Remarks.-A Revolution.-The Judiciary humbled.-The President takes the Responsibility.-Mr. Clay's Views.-Correspondence between General Jackson and Mr. Duane.-The President takes Charge of Morals, &c.-A Cæsar.-Mr. Duane's noble Con- duct. REMOVAL OF THE DEPOSITES.-A Locum Tenens.-Difficulty of the Secretary's Task.-His Reasons for removing the Deposites.-What Mr. Clay thought.- The Secretary lectures Congress on Law, Politics, Affairs of State, Free In- stitutions, and other Matters.-The Relevancy of these Topics to Finance con- sidered.-False Position of the Secretary.--Consequences.-Sometimes right, Sometimes wrong. In a Strait betwixt Two.-Orders from one Quarter.- |