:

SPEECHES

HENRY

OF

CLAY.

DEFENCE OF THE AMERICAN SYSTEM.

IN THE SENATE OF THE UNITED STATES, FEBRUARY 2D, 3D, AND 6тн, 1832.

[Mr. CLAY, having retired from Congress soon after the establishment of the American System, by the passage of the Tariff of 1824, did not return to it till 1831-2, when the opponents of this system had covertly acquired the ascendancy, and were bent on its destruction. An act reducing the duties on many of the protected articles, was devised and passed. The bill being under consideration in the Senate, Mr CLAY addressed that body as follows:]

In one sentiment, Mr. President, expressed by the honorable gentleman from South Carolina, (General Hayne,) though perhaps not in the sense intended by him, I entirely concur. I agree with him, that the decision on the system of policy embraced in this debate, involves the future destiny of this growing country. One way I verily believe, it would lead to deep and general distress, general bankruptcy and national ruin, without benefit to any part of the Union: the other, the existing prosperity will be preserved and augmented, and the nation will continue rapidly to advance in wealth, power, and greatness, without prejudice to any section of the confederacy.