Wlliam Gilmore Simms
Selections from the Letters and Speeches of the Hon. James H. Hammond, of South Carolina >> An Oration on the Life, Character, and Services of John Caldwell Calhoun, Delivered on the 21st November 1850, in Charleston, S.C., at the Request of the City Council >> Page 240

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Page 240

Speech | The Reprint Company; John F. Trow & Co. | 1866, 1978
Transcription 240
manufactures, or any other interest in a hot bed, and
never wished to see a Sheffield or a Birmingham in
this country," Mr. Calhoun said, " as to the manufac-
turing interest, in regard to which some fear has been
expressed, the resolution, voted by the House yester-
day, was a strong pledge that it would not suffer
manufactures to be unprotected in case of a repeal
of the Restrictive System. He hoped that, at all
times, and under every policy, they would be pro-
tected with due care." And, again in 1816, he advo-
cated, without any note or caution, the bill introduced by
another distinguished Carolinian,* long since snatched
from us by a premature death, but whose genius and
virtues--whose lofty character and inestimable services
can never be forgotten —a bill which distinctly recog-
nized the protective principle, and introduced perhaps
its most oppressive feature. The truth is, that at that
day, political economy was in its infancy. Free Trade
was most commonly understood to mean merely the
,freedom of the seas. The most sagacious intellects
of our country--Mr. Webster perhaps excepted had,
apparently no apprehensions of the evils of the false
theory of protection as applied to us ; and that abom-
inable system, since called " the American," it had
entered into no man's imagination to conceive. Mr.
Calhoun, at a later period, so far in advance of his
age, was, at that epoch, the embodiment of the spirit
of the times, and among its most able and effective
expounders.
At the crisis of the war, when the credit of the
Government was prostrate, an United States Bank was
proposed by the administration, and supported by the
* Hon. William Lowndes.