_The Webster-Hayne Debate._--Where the actual victory lay in this quarrel, long the subject of high dispute, need not concern us to-day. Perhaps the chief result of the whole affair was a clarification of the issue between the North and the South--a definite statement of the principles for which men on both sides were years afterward to lay down their lives. On behalf of nationalism and a perpetual union, the stanch old Democrat from Tennessee had, in his proclamation on nullification, spoken a language that admitted of only one meaning. On behalf of nullification, Senator Hayne, of South Carolina, a skilled lawyer and courtly orator, had in a great speech delivered in the Senate in January, 1830, set forth clearly and cogently the doctrine that the union is a compact among sovereign states from which the parties may lawfully withdraw. It was this address that called into the arena Daniel Webster, Senator from Massachusetts, who, spreading the mantle of oblivion over the Hartford convention, delivered a reply to Hayne that has been reckoned among the powerful orations of all time--a plea for the supremacy of the Constitution and the national character of the union. =The War on the United States Bank.=--If events forced the issue of nationalism and nullification upon Jackson, the same could not be said of his attack on the bank. That institution, once denounced by every true Jeffersonian, had been reestablished in 1816 under the administration of Jefferson's disciple, James Madison. It had not been in operation very long, however, before it aroused bitter opposition, especially in the South and the West. Its notes drove out of circulation the paper currency of unsound banks chartered by the states, to the great anger of local financiers. It was accused of favoritism in making loans, of conferring special privileges upon politicians in return for their support at Washington. To all Jackson's followers it was "an insidious money power." One of them openly denounced it as an institution designed "to strengthen the arm of wealth and counterpoise the influence of extended suffrage in the disposition of public affairs." This sentiment President Jackson fully shared. In his first message to Congress he assailed the bank in vigorous language. He declared that its constitutionality was in doubt and alleged that it had failed to establish a sound and uniform currency. If such an institution was necessary, he continued, it should be a public bank, owned and managed by the government, not a private concern endowed with special privileges by it. In his second and third messages, Jackson came back to the subject, leaving the decision, however, to "an enlightened people and their representatives."