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urmeric, we in enumerated.ted. That on alarbe the overpluses, there to reman due pro

d paid, a duty of twenty per senll be the overplus, if anynthecharges as aforesaid, shall

uties foreign Port of Perchandish thered in the or pers

hall be only to goods: Tom all claim of the and n

chann; the duties on aliter a drawback on goes into entecocted. That on an

called rotten stone, sumac, tartar when crude, teute-ward cause said goods to be advertised and sold, in the neque, turmeric, weld, woods of all kinds when unman- manner provided for in this act; and after retaining the

duties thereon, agreeably to such inventory and appraise3 Sec. 10. And be it further enacted. That on all arti- ment, and interest and charges as aforesaid, shall pay

cles not herein enumerated or provided for, there shall be the overplus, if any there be, into the Treasury of the levied, collected and paid, a duty of twenty per centum United States, there to remain for the use of the owner ad valorem.

for owners, who shall, upon due proof of his, her, or Sec. 11. And be it further enacted, That an addi-their property, be entitled to receive the same; for which tion of ten per centum shall be made to the several rates purpose the collector shall transmit, with the said over-3 of duties by this act imposed in respect to all goods, plus, a copy of the inventory, appraisement, and account wares and merchandise, on the importation of which in of sales, specifying the marks, numbers and descriptions American or foreign vessels, a specific discrimination be- of the packages sold, their contents, the name of the vestween them is not herein made, which, from and after sel and master in which, and of the port or place whence the time when this act shall take effect and go into they were imported, and the time when, and the name operation, shall be imported in ships or vessels not of the of the person or persons to whom said goods were conUnited States, and that a further addition of ten per signed, in the manifest ; and the receipt or certificate of centum shall be made to the several rates of duties im- the collector shall exonerate the master or person having posed by this act on all goods, wares and merchandise, the charge or command of any ship or vessel in which which shall be imported from any port or place east of said goods, wares, and merchandise, were imported, the Cape of Good Hope, in foreign vessels: Provided, from all claim of the owner or owners thereof: Provided,

That these additional duties shall not apply to goods, That so much of the 56th section of the general collec3 wares or merchandise, which shall be imported, after tion law of the second of March, 1799, which provides the day that this act goes into operation, in ships or ves- for the storage of unclaimed merchandise, as conflicts 3 sels not of the United States, entitled by treaty, or by with the provisions of this act, shall be, and is hereby any act or acts of Congress, to be entered in the ports of repealed: Provided also, That when such goods are of the United States, on the payment of the same duties as a perishable nature, they shall be sold forthwith. shall then be paid on goods, wares or merchandise im- Sec. 14. And be it further enacted. That on and after > Sported in ships or vessels of the United States.

the day this law goes into effect, there shall be allowed S SEC. 12. And be it further enacted, That on and after a drawback on foreign sugar refined in the United States, the day this act goes into operation, the duties on im- and exported therefrom, equal in amount to the duty ported goods, wares, or merchandise, shall be paid in paid on the foreign sugar from which it shall be manucash: Provided, That in all cases of failure or neglect factured, to be ascertained under such regulations as S to pay the duties on completion of the entry, the said shall be prescribed by the Secretary of the Treasury, and goods, wares or merchandise, shall be taken possession no more: and on spirits distilled from molasses, a draw-a of by the collector, and deposited in the public stores, back of five cents per gallon, till the first day of January, there to be kept with due and reasonable care at the eighteen hundred and forty-three, when it shall be re-> charge and risk of the owner, importer, consignee, or duced one cent per gallon; and annually, on the first agent; and if such goods remain in public store beyond day of January thereafter, the said drawback shall be sixty days, (except in the case of goods imported from reduced one cent per gallon, until the same shall be beyond the Cape of Good Hope, remaining for the space wholly discontinued: Provided, That this act shall not S of ninety days,) without payment of the duties thereon, alter or repeal any law now in force regulating the exporthen said goods, wares, and merchandise, or such quan- tation of sugar refined or spirits distilled from molasses in tities thereof as may be deemed necessary to discharge the United States, except as to the rates of duties and

the duties, shall be appraised and sold by the collector, drawbacks. Sat public auction, on due public notice thereof being Sec. 15. And be it further enacted, That in the case of? first given; in the manner and for the time to be pre- all goods, wares, and merchandise, imported on and scribed by a general regulation of the Treasury depart-after the day this act goes into operation, and entitled to ment; and at the said public sale distinct printed cata- debenture under the existing laws, no drawback of the 3 logues descriptive of said goods, with the appraised value duties shall be allowed on the same unless said goods,

affixed thereto, shall be distributed among the persons wares, or merchandise, shall be exported from the Uni-a S present at said sale; and a reasonable opportunity ted States within three years from the date of importa

shall be given before such sale to persons desirous of tion of the same, nor shall the additional rate of duty Spurchasing, to inspect the quality of such goods, ---and levied by this act on goods, wares, and merchandise, im-3

the proceeds of said sales, after deducting the usual rate/ported in foreign vessels, be refunded in case of re-exporof storage at the port in question, together with all other tation: Provided, That two and one half per centuin charges and expenses, including interest on the duties on the amount of all drawbacks allowed, except on forS from the dates of entry, at the rate of six per centum per eign refined sugars, shall be retained for the use of the annum, shall be applied to the payment of the duties: United States, by the collectors paying such drawbacks. and any balance of money remaining, over and above respectively; and in the case of foreign refined sugars, the full amount of duties, charges, expenses and inter-ten per centum shall be so retained. est aforesaid, as well as such quantities of any goods, Sec. 16. And be it further enacted, That in all cases wares, or merchandise, as may not have been sold for where there is or shall be imposed any ad valorem rate S the purposes before mentioned, shall be delivered, and lof duty on any goods, wares, or merchandise, imported the money paid over, by the collector, to the owner, im-linto the United States, and in all cases where the duty 3 porter, consignee, or agent, and proper receipts taken for imposed shall by law be regulated by, or directed to be

the same: And provided, That if no claim be made by lestimated or based upon, the value of the square yard, S Ssuch owner, importer, consignee or agent, for the por-lor of any specified quantity or parcel of such goods,

tion of goods which may remain in the hands of the col-wares, or merchandise, it shall be the duty of the collecSlector after such sale, the said goods shall be forthwith ltor within whose district the same shall be imported or returned to the public stores, there to be kept at the risk Sentered, to cause the actual market value or wholesale and expense of the owner, importer, consignee or agent, price thereof, at the time when purchased, in the princiuntil claimed or sold for storage, agreeably to law, - pal markets of the country from which the same shall and the proceeds of the sale for duties remaining un-have been imported into the United States, or of the claimed for the space of ten days after such sale, shall, lyards, parcels, or quantities, as the case may be, to be after payment of duties and all expenses aforesaid, at the appraised, estimated, and ascertained, and to such value expiration of that period, be paid by the collector into or price, to be ascertained, in the manner proyided in the Treasury, in the manner provided for in the case of this act, shall be added all costs and charges except inunclaimed goods in the next succeeding section of this surance, and including in every case charges for comact. And provided further, That when any gouds are of missions at the usual rates, as the true value at the port a perishable nature, they shall be sold forthwith.

Iwhere the same may be entered, upon which duties SEC. 13. And be it further enacted, That previous to shall be assessed. And it shall, in every such case, be the sale of any unclaimed goods, the said collector shall the duty of the appraiser of the United States, and every Sprocure an inventory and appraisement thereof to be of them, and every person who shall act as such apmade, and to be verified on oath or affirmation, by two praisers or of the collector and naval officer, as the case or more respectable merchants, before the said collector, may be, by all the reasonable ways and means in his or and to remain with him; and said collector shall after-their power, to ascertain estimate, and appraise the true wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww

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Mr Clay's Retirement from the Uni. fully answered, and that its deliberations, now and

hereafter, may eventuate in restoring the prosperity of ted States Senate.

our beloved country, in maintaining its rights and * Mr. CLAY resigned his seat in the Senate of the Uni-honors abroad, and in securing and upholding its inter-s

ests at home. I retire, I know it, at a period of infinite ted States on the 31st of March, 1842. After formally distress and embarrassment. I wish I could take my Sannouncing his retirement, he made one of the most leave of you under more favorable auspices; but, with

Jout meaning at this time to say whether on any or ons eloquent and beautiful speeches ever delivered in that!

whom reproaches for the sad condition of the country Sbody. The conclusion of this speech was as follows: should fall, I appeal to the Senate and to the world to s

bear testimony to my earnest and anxious exertions to To from this place under the hope that we shall, avert it, and that no blame can justly rest at my door. Smutually, consign to perpetual oblivion whatever per- "May the blessing of Heaven rest upon the whole

sonal collisions may at any time unfortunately have oc-Senate and each member of it, and may the labors of curred between us, and that our recollections shall every one redound to the benefit of the nation and the dwell in future only on those conflicts of mind with advancement of his own fame and renown. And when s mind, those intellectual struggles, those noble exhibi-you shall retire to the bosom of your constituents, may

tions of the powers of logic, argument, and eloquence, you meet that most cheering and gratifying of all human Shonorable to the Senate and to the country, in which rewards--their cordial greeting of Well done, good and each has sought and contended for what he deemed the faithful servants.'”

The sensation produced by this address from the lips greatest interest and the greatest happiness of our beloved country. To these thrilling and delightful scenes it will of Mr. Clay cannot well be described. There was hardly be my pleasure and my pride to look back in my retire-a dry eye in the Senate Chamber. Mr. Preston rose and ment.

said : What had just taken place was an epoch in their "And now, Mr. President, allow me to make the motion which it was my object to submit when I arose to legislative history, and from the feeling which was address you. I present the credentials of my friend and evinced he plainly saw that there was little disposition successor. If any void has been created by my own to attend to business. He would therefore move that withdrawal from the Senate, it will be filled to over-the Senate adiour

led to over the Senate adjourn; which motion was unanimously flowing by him; whose urbanity, whose gallant and 3 gentlemanly bearing, whose steady adherence to princi- agreed ple, and whose rare and accomplished powers in debate, are known already in advance to the whole Senate and Mr. Calhoun on the Tarifr. country. I move that his credentials be received, and

FORT HILL, Sept. 24, 1843. that the oath of office be now administered to him. Dear Sir-You are right in reference to my opinions

"In retiring, as I am about to do, for ever, from the on the Tariff. I deny the right of imposing any duties 3 Senate, suffer me to express my heartfelt wishes that all but for revenue, or to make any discrimination but on

the great and patriotic objects for which it was consti- revenue principles. I also deny the right of raising reve Stuted by the wise framers of the Constitution may be nue, but for the constitutional and economical objects of fulfilled ; that the high destiny designed for it may be the Government.

J. C. CALHOUN.S wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwvom

A NATIONAL BANK.

§ THE first Bank in the United States which(Tariff and the additional evils arising from

bore a National character was the old Bank the absence of any National Currency, were S of North America, chartered by the Conti- the two great impelling causes of this Union, nental Congress in 1780, after the Finances to effect which the most violent and inveteof the States had been utterly ruined by the rate prejudices, the strongest local predilec-3 {burthens and calamities of the Revolution tions and suggestions of self-interest, were S and the profuse issues of Government paper met and overcome. One of the first acts of

known as “Continental Money.' This Bank the first Congress which assembled under the Swas projected by ROBERT MORRIS, the great Federal Constitution was the imposition of a S financier of the Revolution, whose exertions, Tariff; the creation of a National Bank was Scredit and private fortune were nobly contri- not long deferred. The chartering of such as Sbuted to the American cause, and aided more Bank was recommended by ALEXANDER HA-} than those of any other man but Washington Milton, Gen. Washington's trusted Secretato sustain it. This Bank of North America ry of the Treasury, as absolutely indispensaproved of immense service to our Revolution-ble to the efficient and economical manageSary Fathers, affording a resource in utmostment of the Finances of the Union. The bill

need, and furnishing large amounts of money chartering the Bank was warmly debated in 3 to equip and feed our armies. But after the both Houses of Congress, but passed the close of the War it was discarded by the fee House by a vote of Thirty-nine to Twenty. ble Government of the Confederation and took In the Senate, the Yeas and Nays were not refuge under a State Charter from Pennsyl-called on the final passage of the bill; but a vania, and ultimately--in the season of gene- variety of amendments were moved by the ral calamity which followed the unqualified opponents of the measure, the most plausible opening of our ports to the fabrics and ships and popular of which was one reserving to of all nations, while they rigorously excluded Congress the right to repeat the Charter; our products from their ports—this Bank was and for this there were Nine votes to SevenSoverwhelmed. All the Specie was drawn teen against it, and in favor of the bill as it

from the Country to pay balances for foreign stood. Thus the bill prevailed in either goods, and there remained no choice for a House by a majority of nearly two to one. Bank but to wind up or break. The old Re- An impression has been studiously urged volutionary Bank, which had braved and by the later opponents of a Bank that this weathered the desolation caused by British vote was a party one that the Anti-Federal{arms, was not proof against the disasters in-ists of that day, who afterward took the name duced by aggressive British policy in peace, of · Republicans,' and subsequently that of while our Country offered no show of resist. Democrats,' were united in opposing the ance. It was broken, just as the later United measure. But this representation is unwar. States Bank was after losing its National ranted by the facts. Among the votes in fa-3 charter and in like manner becoming a State vor of the Charter are recorded the names of

institution in 1835-6. The parallel is striking Elbridge Gerry of Massachusetts, (afterward Sand instructive.

| Republican' Governor of that State and In 1789 a new and stronger Federal Gov. Vice President under Madison in 1812,) Floyd ernment was constituted, avowedly to form of New York, Dickinson of New Jersey, a more perfect Union' between the States.--Heister and P. Muhlenberg of Pennsylvania, The want of power to establish a Protectivel&c. In truth, the vote on the Charter was

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A NATIONAL BANK.

31 s almost precisely a sectional one. The loca- and the question of renewing it came up unStion of the Bank at Philadelphia was the der most unfavorable auspices. The Directcause of the opposition. The Southern Mem-ors and a majority of the Stockholders were bers were then struggling for a more South- Federalists, and the Bank was assailed as Sern location of the seat of the Federal Gov- Federal, while the Government was strongly Sernment, and they considered the placing of Democratic, and party feeling overruled every S the Bank at Philadelphia calculated to dimi-thing else, leading all the young and ardent Śnish their chance. Under this impression, all Democrats-Mr. Clay among the number S the Members but seven from the South of to oppose the Recharter. Yet such was the Delaware voted against the Charter, while all earnestness and depth of conviction on the

from the North but Mr. Grout of Massachu-part of those who had shared in the experiSsetts voted in its favor. (Mr. Grout had just sence of the country without as well as with a before voted for the Assumption of the Debts Bank that it nearly overbore the mountain of of the States, which was considered a test of prejudice and party feeling arrayed against Sparties, and his the Federal side of the ques- that institution. The bill to Recharter passed Stion.)

the House in spite of a powerful opposition, 3 of the Members of Congress who voted on including a most effective speech from Mr.3 this bill, Nineteen had been Members of the Clay, then Speaker, and was transmitted to Convention which formed our Federal Con- the Senate, where an equally energetic strug-3 stitution, and ought to have known what they gle took place. The Senate consisted of? meant by that instrument. Thirteen of them twenty-four · Republicans' and ten · FederalSvoted in favor of the Charter, thus clearly af-lists.' On the final question, the vote stoods firming its Constitutionality. With the other seventeen for and seventeen against the Re. Six, the local question of which we have charter, when Vice President Clinton gave spoken had much weight, and was probably the casting vote against the bill, and thus ter-3 conclusive—so that their vote was not so much minated the Bank's existence. Mr. Clinton against the Constitutionality of the Bank as its had been averse to the forming of the Federal location. The only one of them whose opinion Constitution and to any institutions more NaSon Constitutional questions is regarded as tional than those authorized by the old Conweighty is Mr. Madison, and he afterward federation, and still cherished the same tenbecame a champion of the Constitutionality dencies, somewhat modified by experience. of a Bank, signed as President the Charter of On the other hand, among the able and influ

that of 1816, and just before his death wrote ential · Republicans' who supported and voSa most conclusive letter in support of the ted for the bill was WILLIAM H. CRAWFORD

Constitutionality and utility of such an insti- of Georgia, afterward the leader and chamStution.

pion of the Radical Democracy, and its canBefore signing this Charter, President didate for President in 1824. The last publics 3 Washington required the opinions of the paper which emanated from this great StatesMembers of his Cabinet on the question of its man (in 1832) was a most conclusive vindicaConstitutionality. The two Virginia Mem-tion of the expediency and constitutionality bers (Thomas Jefferson and Edmund Ran- of a National Bank. His long experience as 3 dolph) gave opinions against it; Col. Hamil- a leader of the Republican' party in Con-3 ton and Gen. Knox gave theirs in its favor. gress, and more especially as Secretary of Gen. Washington maturely considered them the Treasury, entitles his opinion to great all, and then signed the bill, though all the weight. Members of both Houses and of the Cabinet So the Bank was killed in 1811 ; and, not from his own State had gone against it. attempting to prolong its existence by a State

The Bank thus chartered went immediately Charter, it wound up its affairs, paid every into operation, and proved of immense service body dollar for dollar, and returned its capinot only to the Government but to the whole tal to the stockholders. The country soon Country. By its aid, the Finances were after engaged in a War with Great Britain, brought out of confusion into order, and the and very speedily experienced the want of credit of the Government fully established. the institution so destroyed. Our Finances No man can tell any harm that it did, while again fell into inextricable confusion; the its blessings were universally felt. Mr. Jef-Government was forced to borrow money ata ferson, who had at the outset been its most 12 per cent. interest, give $100 for $88 at Sprominent and determined opposer, evinced that, and then take the proceeds in the notes no hostility to it during his Administration, of Banks which could not pay specie-which but on the contrary signed the bill authorizing notes were worth sixty to ninety cents on a the establishment of a Branch in the recently dollar. Sacquired Territory of Louisiana-an act ui- At the close of the War, with an empty Sterly incompatible with a belief that the Bank Treasury, an enormous Public Debt, and

was either unconstitutional or pernicious. a Currency in every different stage of $ In 1811, the Charter of the Bank expired, rottenness, the Government set earnestly wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww

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