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Ina CALHOUN AND MR. PRESTON.

 m inc debate which took place in the Sen- wte on the 20th Sept. on the resolution rela- five fo the United States Bank

 Mr. Calhoun thought 1t due@o the People that there should be a distinct Expression Qi the opinion of this body on this subject. The country was in an unsettled state, and i'd come to some decision was the best relief- He should vote for the original resolution.

 Mir. c. then adverted to the remarks of MT. Preston: he had understood his col league to intimate, that whoever supported one act of the Administration supported it in all its acts, and was therefore an Administra- tion man. His colleagues inference appear. ed to him very extraordinary.

 Mir. Preston said, that if he approved oi the most prominent and most important mea- sure of the Administration, then, though he might differ on some few other points, he cer- tainly should consider himself to be an Ad- ministration man. If he made the Gnaende honorable to MT. Van Buren, he was not there fore necessarily supposed always to vote for all his measures; if in the main, if in gener- al principles and policy, or in support of his great and primary scheme, he went with him, that was being an Administration man. If, on the other hand, Ghough he might even vote for minor Administration measures, when he thought them benefcial,) he was opposed to the great measures, to the general policy and leading principles of the Admin istration, if he opposed his one great plan, that was being an Opposition man. He (Mr. P.) was at this moment an Opposition man. He was opposed, strongly opposed, to the wild schemes and new experiments of the Administration he was opposed to it's great measure of divorcing the Government from the States and the People, and therefore . (though while so opposed, he would yet go with it for any measure of sound policy and real good to the country) he was an OPposi- tion man. Those who had placed them- selves in the contrary position were unques- tionably Administration men.

 MT. Calhoun said he was astonished that his colleague should entertain such an opin- ion. Mir. c. differed with him on that point. (said Mir. O. am not an Administration man, nor any other mans man, but am my own man. belong to the smallest party in the country. am simply an honest Nullifi. CT. IA laugh.l go Continued MT. O. for my own object, which is sometimes good deal ahead My object is to arrest usurpa- tion, and first and chiefly, Congressional u- surpation against the States; after that, of the President against Congress I know we'll (said Mir. CD my latitude and my longitude; 1; keep log book and good reckoning. I NuOW tuC POSAtIOH VI PdTtlSS OA dlA SlucSs uHO am pursuing course which nothing shall drive me from. I know where the Adminis- tration party is; it's reckoning has run out, and it has only one alternative, namely, to go back to the old republican principles of 1927 |: the principles of that day were that of the old State Rights party of the country. Now (said Mir. C.) see great change on both sides; through the disturbing influence of that great man, though he thought him an er- roneous man, General Jackson,) the Jack son party was near destruction, and nothing was left to it but to fall back upon the old State Rights ground of 1927. Executive usurpation was now at an end. As to what he had done to obtain. a victory over Execu- tive usurpation, he went for that He had pursued that course to guard against what he foresaw would end in six or seven years. I am (said MT. CD against Congressional usur- patton more than against Executive and if so, where am l now situated but in the old Republican ranks of 1897! As far as they act with me, I go for them; if they do not act with me, do not go for them. I am moi a Van Buren man, nor an anti-Van Buren man, but a plain, honest Nullifier.

 Mir. Preston said he felt himself under the necessity of making few remarks. As fol himself, he was in opposition to the Admin. ,istration. He did not see that the Adminis. .tration had come over to him, or am gone over to them: it is impossible for me to be ar Administration man. It would indeed give him (said MT. P.) great pleasure if he coulc discover that the rulers who had governed, ol rather he ought to say, who domineered over us so long, were now exhausted in their mis- rule, and from the necessity of their situa. tion, had come back to good old principles : Nothing would give him more happiness than to find that the Jackson party, by the mere infusion of Van Burenism, had been cured al once of all that was wrong in it, and had come back to old principles. But, in spite of his disposition to wish for the best, he mus confess that he could not see that they hal changed; he could not perceive shadow O turning. So far from any return to goo, principles, to sound policy, to wise measure .--so far from exhibiting any desire to hea the bleeding wounds of our bleeding coun try, they persevered, unchanged by expert ence, unmoved by the desolation around, il the prosecution of schemes fatal to the peac and prosperity of the country. They wen alchymy, and after bursting one set of vessels they are now getting up another scheme preparing to make another burst, pressing upon us other experiments and other expedi ents equally wild. What are they chang ed? Are they not now urging upon the coun try another experiment, which I profess, be fore God, believe to be more frightfhl and alarming, in the distress and ruin it will spread around, than if foreign army were to march over the land, and lay waste all be. fore it, from Maine to Louisiana?

 It is an experiment which, if we judge by the past by what has just happened, at the end of three or four years, when the country is down m complete and utter ruin, when the ~1n SA& As-A..

 gether again as we have been called now, then fhaY will again cnme fnru,nrd ,,,;fh fhe