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'lhe imbecilc arrogance and bullying of
marks are generally made for the purpose
of introducing condemnation OF Mr.. Clay
for his agency in the passage of the Com
promise Act. Whrch TREY say was sa-
crifice OF the protective principle to pre-
vent a war with the nullIliers. Without
doubling the courage or the sincerity oi
those who thus often boast of the snperIo /
lirnincss and more manly bearing which
they would have exhibited, at that crisis,
| will endeavor, briefly to show you 4hat
these gentlemen are ignorant both as to
the effect and meaning Of the act, as well
as the objects so@g hit to be secured by Its
author.


II IS quite a common error, that the act
itself, proposes IA HuizoniGt iar!f oi ~
per cent on all articles of Importation, as
the minimum rate of duties, and the Enaf
resting place at which the reduction Of
duties, proposed by the act, shall cease,
and stand unchanged and Interchangeable
forever At this day, gentlemen OF III
telligcnce, protesting to understand and
discuss the legal effect of this act, often
speak of it as law, the great object of
which was, by system Of gradual d'ml-
mutton, 10 reduce the duties as they stood
under liie act OF 1882, to an universal
level of20 per cent. at the expiration of
nine years and four months. In other
words, they regard the Compromise Act
as fixing one rate for all dulable articles
from and after the Sch of iWne, 1872, that
rate being 20 per cent. advalorem, and as
containing certain binding stipulatons or
pledges on the part Of the authors of that
law, that no higher rate of duty should
ever, after that day, be collected by the
general Government,-Ths supposlton,
prcpostcrous as ii is, you have doubtless
observed, is an opinion quite commonly
expressed, and that too, not unlrequenly
!-by grave legislators on the floors of Con-
gress, That the enemies OF Mr.. Clay
I should have so expressed themselves Is
matter to be regretted; but hen the friends


of the Tariff, and the very men who pro,
Tess the utmost confidence in the reclitude
aud consistency of that great statesman,
fall into the same error, it is high time


lheir mistake should be corrected.


1t is perfectly true, that the first section


of the act fixes 30 per cenlum all valorem


as the lowest rate at which dutiable arll-


cles should be admitted, after the 3Olh Of
June, 1912; but the third section Of the


act provides, that, from and after that day,
''dules upon imports shall be laid for :he


of "a c m a
necessary to am economical administration


of the Government" and also that such


duties shall be assessed on the home cal
uation and payaGle in cash, The leading
principles estabishedby the act were, first,
that after the 30th of June, 1912, suili-
, cicnt revenue should be raised from i'm
post duties alone to defray the expenses


of the GovernmenE-s secondly, that no
more revenue should so collected than
should be demanded by an economical adj


ministralon Of the heGovernment; thirdly that


the best possible guards against frauds on


the tariff should be established by the ad-
option of the new system OF assessing the
I duties on the home, instead Of the foreign
value, and making those duties payable i'll
, cash. Whether these duties, from which
all the revenue for the support Of Govern
ment was TO be derived, should be fixed
: at 20 per cent, or at 30 per cent, or any
, other rate, was OF course, a subject lei,
for the future consideration and action oil
2 Congress, whenever il should be discover
: ed that the minimum rate of 20 per cent
adopted bv the first section of the bill, was
; insufficient for the support OF government
7 N Nothing was further lrcm the intention o
Z those who passed this law than to at.cmp
4 to prevent further legislation, dlscrlmlna-
= tiny with view to protect home labor
| in the contingency OF defect of revenue
+ lrcm duties of 20 per cent. have ever


regarded the tarlllpassed by the Congres.


of 1912, as a substantial compliance, il


most respects, with this pledge in lh'
t Compromise Act, with this exception only
b that law, while it levies duties on I'M
S ports TO support the Government, looks t.


the sales of the Public Lands as an aux
e iliary for that purpose; while the Compro
1 mise Act gave, to me as thought wheI
d voted for it. and to every other friend o
Y the protective system, at the same time, ;
r. solemn assurance, that, after the 30th o
If .Iune, 1912, the Land fund should ceas
D to be regarded as source Of revenue. ant
If that all the real wants of the government
E should be supplied exclusively from dule
e on imports, assessed so as TO preven
n frauds, and payable in cash.


|, To understand this subject as 1t reall,
! was understood by those friends will
t, whom ! acted in the passage Of the Com


promise Act, it is necessary to recur to
n some other proceedings contemporaneou'
o with it. Mr.. Clay's bill to distribute til,
l. sales of the public lands among the State.
If which passed both Houses of Congress
L..,I IL Z, s.,.,,o limo uiIh do Cnrn