The crisis towards which so many eyes had long been directed, had at last come――a crisis which, though sought by government, was sought reluctantly. Any measure that would have obviated its necessity, had been embraced with eager joy. Every expedient was resorted to, in order to prevent the waste of treasures and effusion of blood, with which it would be attended. The great master spirits, Messrs. Clay, Lowndes, Cheves and Calhoun, the bold pioneers in paving the way to and hastening on this crisis, did not attempt to shrink from their duty, nor to shake off the solemn responsibility which they assumed to their country in undertaking to conduct the ark of her liberties, now when they had guided it into the roaring vortex of war. They did not prove recreant to the precious trusts committed to their care, by traitorously deserting their posts. Though the billows of fierce conflict dashed against its sides, they did not withdraw the hand that had hitherto supported it. There was no looking back, no cowardly avoiding of danger, but shoulder to shoulder manfully they breasted the dark surges of belligerent strife, until in safety the harbor of success was finally attained. With the view of shortening the conflict and ameliorating the condition of those engaged in it as much as possible, previous and subsequent to the declaration of war, they sought to place the financial department of the nation in a situation to meet the demands that would be made upon it in case of that event. In pursuance of this view, the secretary of the treasury, Mr. Gallatin, whose reputation for financiering stood high, was selected to devise and report a system that should accomplish the desired object. The public disappointment was excessive when his report appeared, which, instead of exhibiting any new feature in finance――instead of deriving revenue from the vast, existing and appropriate national sources――proposed to obtain it in the old obnoxious ways from excise, stamp duties, &c. Although deeply regretting that a more efficient plan was not provided, still, with a spirit that seemed resolved to turn to the best possible account the propositions of the secretary, they commenced levying taxes according to his plan. To this end Mr. Cheves, chairman of the committee of ways and means, diligently employed himself in preparing bills, whose object was the raising of revenue. After their completion and presentation, a discovery was made that well nigh proved fatal to this. It was ascertained through the efforts of Mr. Smiley, an intimate friend of the secretary of the treasury, that both he and the president were opposed to levying taxes at the time of the declaration of war, declaring ‘that the people would not take both war and taxes together.’