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rogated, never 10 be reenacted at any future time or in any possible contiH- gency. Aslittle practicable is 1t to pro tiiat tiiit tic 'saiI,e rate oi dut siaii De imposed upon the protected articles that shall be imposed upon the unpro- |tected;' which, moreover, would be severely oppressive 10 the poor, aud, il time of war, would add greatly to it's rigors. And, though there can be go aaje t:o;.i tts i;thie principle, properly iif drrstood, that no more revenue shall be raised than is necessary for the consti- tutional purposes of tine Government, which principle has been already re- commended by the Executive as the true basis of taxation, yet il is very cer- tain that South Carolina alone cannot be permitted 10 decide what those consti tutional purposes are.

 The period which constitutes the due time in which the terms proposed in the addrcss are b be accepted, would seem to present scarcely less difficulty than the terms themselves. Though the re venue laws are already declared to be void in South Carolina, as well as the bonds taken under them, and the judi- eial proceedings foy carrying them into effect, yet, as the ftl! action and ope ration of the Ordinance are 10 he sils pended until the ist of February, the interval may be assumed as the tine within which it is expected that the most conplieate portion ofthe national legislation,a Il system oflong standing and affecting great interests in inc comina. nly, is to be rescinded and abolished. lfthis be required, ii is clear that a com pliailee is impossible.

 TO BE CONCLUDED NEXT wEEK.1