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 ihs Two valleys. will unite m tue closest commerca tes ever, parI pi uar great and glorious Union. l But how Is all this to bs effecied1 Thls gentle mon, brings us tn more delicate quesiun aud Una | Is. Row far invoke The aId of ihe Genera GovorEinent fur ihal purpUsef cannot be wrong Ii | suppOsing that thrle must be great dversIlk 0 | opinion in Ihs assembly reference h the sx tent 10 which II mag be constitulnnally invoked. 1 s well known that my "piniOu Is iB favor of rigi, construction of the Cunslitulon, while there ar, olheIs in laInr of more enlarged view. But tfus

 bsi we shall be all agreed one poial nnd that ii | lo abstain from pressing our views all subjects where there Is diversity of opinion. 1t is only b, such Oibearance that we can avoid conflict and pre- serve harmony; and for one prerared Is set aI example of such iorbearance. (Applause.) et u 1 then a agree touch no sub ect which any DOT tlon oi the body enlertains constitutional scruples With these impressions, 1 read with particular ap probation the circular oI your Committees calling lh, Convention, which stated that no subleci upon whcI diversity of opinion existed constitutional ground should be discussed It eyinced regaId for tina sacred instrument, which angus well for the success, of our labUrs. Indeed the first step towards the ac compIishment of the objects for which are con vened-the develOpemeHt oi the resources of the South and West-is the preservation Of our lIbert, and our free popular institutions and the first step wards that, IS the preservation oi Constitution To them we owe our extraordinary prosperity and progress m developing ihe great resources of our country, and them must depend for their full and perfect deveopement, which would realize the anticpal ions of S tse founders of our government and raise country 10 a greatness surpassing all that have gone before US.

 | W iIh these remarks, begin with asking, How l far the aid of the General Government can he in. voked 10 the improvement of the navigation of the MlsslsEppi and Us great navgahle tributaries? And here let premise, that the invention of Fulton has in reality, for all practical purposes converted the Mssssppi with iis great ribaaTies, iHto inland sea.-(Applause) Regarding it such, an pre- pared 10 place Il oa the footing with the Gull and Atlantic coast, the Chesapeake and Delaware Bays, and the Lakes, in reference to no supcrin tendence of the General Government over its navi- gatOn. It is manifest that II IS far beyond the power of individuals of separate States to supervise il, as there are eighteen States, including Texas and the Territories more than half ihe Uninn-which lie within the valley of the Mississippi border it's navigable tributaries.

 But, gentlemen. while a"r in favor of placing its navigation and that oi great igable tributaries under the supervision of ihe General Government, am utterly opposed 10 extending i,S supervision be- yond ihe limits the grounds on winch have placed il would carry II It Is the genius Of governm to leave to individuals what can be done by indvd- uals, and 10 individual States what can br be done by them, and tn restrict the power of lhe Genera Government to that which only be effected through it's gency and Ihe powers specifically granted. h. deed, seltinR all constitutional objections aside, il would be improper, IS a mere matter ol expediency, to invoke the aid of the General Government in the execution of any object which could be effected by the agency of individuals or States In d coun- try o such vast extent as ours, local expenditures liable 10 great abusee. They are seen to lead to system, to uudign6ed phrase, o ",og .rOtins" and 10 terminate m useless and wasteiul expendi. lures of public money.

 As to the measures necessary to keep open al all tlmes c0as'ing voyage between the Gull and Allan lie, there is who will question tho constitu. tiona competency of Congress- To adopt them, and accordingly pass them over without further remark. 1 come to the question, How far iho aid of tho general government may be invoked 10 execute tine system oi proposed railroads between the Mississippi and ila tributaries aud the Southern Atlantic por And here must premIse that according to my Opin- ion, the general government has no iigt 10 appro- prale money except to into execution its dee gated powers. and hat do regard the system of rail roads or internal Improvements comprehend ed under them; but Il may siIil be ilS power 10 do something directly m aid of their execution where the roads pass through lands belonging to the United States do not doubt the fight of the gov ernment, regarded in the light of proprietor, 10 grant lands In aid of such improvements when they caculat | cd to enhance their value; and have accordingly never hesrated as n member of Congress 10 vote m favor of acts granting alternate sections pads or canals under sucb circumstances. Acting on that principle. cheerulls, as President of the Seuate, gave the casing vote in favor of act granting a- ternate sections to ihe canal intended lO connect Lake Michigan with the MssissigpI through the H. llnos River Bui although 1t may not be in the power o tle general government to give any consid- erabe direct aid in execution of ihe system, yet it may give indirectly very essenIiai aid u IS well Known that the principal exteuse in constructing railroads is caused hy the price of iron; but per- haps il ia not Well known that large DOT ,inn of the prce cousis,s in he duy laid on the importation of iron. The duty alone on heavy T iron, an m forhrd on good authoi, is more than Two thousan nd dollars a mile. repeal then, of the duty on it would in effect be equal 10 subscription of that sun per mIle.

 do not intend to touch upon the sexed question Of the tariff. l know that there is diversity oi opinion m respect To the protective policy. This is not the place to agilaie Il; but l would submit that under present circumstances that question cannot be fairly ralsed m reference lo he re cal of ihe duty upon railroad iron. speak on goo authority, when l say such iron ma, be made iu ILc United States a' $6O ton, and also that it cannot be imported into this Country for less than that sum, incud ing the duty, in consequence of he grea, increase oi

 e price oi railroad in Engla hand within the last lew months, from the great demand for the icle for making roads there Under such circums nee s the only effect Of ihe repeal of the duty would be To prevent our owG manufacturers from greatly raising the price m consequence of the monopoly of the market

 approach subject still more delicate, in connec- tion with the protective policy. l have shown that we already prnduce of the leading articles of food and raiment and others Of considerable impor- tance, more than can be consumed within our own limits, including other portions of the Uninn, and that must depend upon tho rest oflhe world fur market for the surplus, l have also shown that to theses m short time, will be added the important articles of sugar, hemp and wool, and obial iar remuneratng prices, it is indispensable that the market shall increase with the increasing develop- ment Of our resources, on lhe great principle that price is regulated by the relation between supply and demand.

 Without an increase of the market equal to tho increase oi supplies, prices will fall tIl they to be remuneraling, which will effecually put stop 10 farther development of our resources But it clear that on free exchange of our products with the rest of the world depends our capacity for mandIng its market, and that every barrier interpos ed m the shape oi tax duties must necessarily limit it's market for products ihe extent. The psitoS being admitted, il IS 10 be hoped that all will concur, whatever may be the diversity oopln0n respecting the tariff, that duty shall be imposed which IS not necessary, according the re- speclye views of each, of the policy which the governme, ought 10 adopt. l am of the impression that the existing tariff throws many impednenls in the way ol our exchanges ih the rest ofthe world which, even upon the principle of protection, might be dispensed with.

 There remains other topic of deep interest to all the lower sections of this magnificent valley-l refer 10 the reclamation of your lands subject nual nundaton by s system of Le,ceing They com prehend a large and most valuable portion of the whole region, and are capable of sustaining n popu- ation greater than any portion of the globe of the same extent. A large portion is held by the Feder- al Government, and do doubt that it ought to snribue to eveeIng them, in proportion to it's In. teresI, or terminate proprietorshp soon as 1t can be done, m favor of the States within whose li- they he. a IeAve tha iva States and the individual owners To construct the Ie. wees. There will be great difficulty in the former in fixing he proportion which the Federal Govern- ment and individuals ought To contribute; and am