Mr. Clay, in the course of the debate, said: "What, again, I would ask, is the cause of the unhappy condition of our country, which I have fairly depicted? It is to be found in the fact that, during almost the whole existence of this government, we have shaped our industry, our navigation, and our commerce, in reference to an extraordinary war in Europe, and to foreign markets which no longer exist; in the fact that we have depended too much on foreign sources of supply, and excited too little the native; in the fact that, while we have cultivated, with assiduous care, our foreign resources, we have suffered those at home to wither, in a state of neglect and abandonment. The consequence of the termination of the war of Europe, has been the resumption of European commerce, European navigation, and the extension of European agriculture, in all its branches. Europe, therefore, has no longer occasion for any thing like the same extent as that which she had during her wars, for American commerce, American navigation, the produce of American industry. Europe in commotion, and convulsed throughout all her members, is to America no longer the same Europe as she is now, tranquil, and watching with the most vigilant attention, all her own peculiar interests, without regard to their operation on us. The effect of this altered state of Europe upon us, has been to circumscribe the employment of our marine, and greatly to reduce the value of the produce of our territorial labor. . . . . The greatest want of civilized society is a market for the sale and exchange of the surplus of the products of the labor of its members. This market may exist at home or abroad, or both, but it must exist somewhere, if society prospers; and, wherever it does exist, it should be competent to the absorption of the entire surplus production. It is most desirable that there should be both a home and a foreign market. But with respect to their relative superiority, I can not entertain a doubt. The home market is first in order, and paramount in importance. The object of the bill under consideration, is to create this home market, and to lay the foundation of a genuine American policy. It is opposed; and it is incumbent on the partisans of the foreign policy (terms which I shall use without any invidious intent) to demonstrate that the foreign market is an adequate vent for the surplus produce of our labor. But is it so? 1. Foreign nations can not, if they would, take our surplus produce. . . . . 2. If they could, they would not. . . . . We have seen, I think, the causes of the distress of the country. We have seen that an exclusive dependence upon the foreign market must lead to a still severer distress, to impoverishment, to ruin. We must, then, change somewhat our course. We must give a new direction to some portion of our industry. We must speedily adopt a genuine American policy. Still cherishing a foreign market, let us create also a home market, to give further scope to the