and for the first time presented to our consideration, but whether we
shall break down and destroy a long-established system, carefully and
patiently built up and sanctioned, during a series of years, again and
again, by the nation and its highest and most revered authorities. And
are we not bound deliberately to consider whether we can proceed to this
work of destruction without a violation of the public faith? The people
of the United States have justly supposed that the policy of protecting
their industry against foreign legislation and foreign industry was
fully settled, not by a single act, but by repeated and deliberate acts
of government, performed at distant and frequent intervals. In full
confidence that the policy was firmly and unchangeably fixed, thousands
upon thousands have invested their capital, purchased a vast amount of
real and other estate, made permanent establishments, and accommodated
their industry. Can we expose to utter and irretrievable ruin this
countless multitude, without justly incurring the reproach of violating
the national faith? * * *

When gentlemen have succeeded in their design of an immediate or gradual
destruction of the American system, what is their substitute? Free
trade! The call for free trade is as unavailing, as the cry of a spoiled
child in its nurse's arms, for the moon, or the stars that glitter in
the firmament of heaven. It never has existed, it never will exist.
Trade implies at least two parties. To be free, it should be fair,
equal, and reciprocal. But if we throw our ports wide open to the
admission of foreign productions, free of all duty, what ports of any
other foreign nation shall we find open to the free admission of our
surplus produce? We may break down all barriers to free trade on our
part, but the work will not be complete until foreign powers shall have
removed theirs. There would be freedom on one side, and restrictions,
prohibitions, and exclusions on the other. The bolts and the bars and