"How few men have I found true under all trials! Who has a friend on whom he can rely, and who will not, to gratify his own ambition, sacrifice him? I was deeply attached to Buchanan; I thought him my friend, and trusted him as such--through long years our intimacy continued. You see how unwisely this attachment was indulged; I have misplaced my confidence; I am willing to disbelieve this statement of Beverly; he is known to you; I believe he is a miserable creature, but his testimony is but a link in the chain of evidences I have of Buchanan's being the author of this infamous story. It was artfully concocted and maliciously circulated. He was too shrewd to commit himself, and employed this creature to go to Jackson, who lent a willing ear to it; and he communicated it to Creemer. Yet it was settled upon him by Jackson. Beverly told Jackson he was sent by Buchanan, and now the world has the story denied by Buchanan, and I have it confessed by Beverly. All the mischief it could do, it has done; and this death-bed repentance and confession must command my forgiveness of poor old Beverly. "I was not unaware of the hazards of accepting office under Mr. Adams, and yielded my judgment to gratify my friends. I was deeply solicitous of rendering the country independent: our population was increasing; I was sure large immigration would add to the natural increase; and I felt it was the true policy of the Government to commence the manufacture of all articles necessary to its population, and especially the articles of prime necessity, iron and clothing. We had the minerals, the coal, and the cotton; and the sad experience of the recent war warned us to prepare against the same consequences should we unfortunately be again in a similar condition. I was satisfied that this policy would meet powerful opposition by those who supposed their interests affected by protection; and I knew, to build up the manufactures at home, they must be protected against foreign competition--at least for a time. Once capital was abundant and largely invested in manufacturing, with an abundance of educated skill, this protection could be withdrawn; as home protection would not prevent home competition, and high prices would stimulate this competition to the point of producing more than was necessary for home consumption; which would force the manufacturer to find a market abroad for his surplus; this would bring him into competition with the European manufacturer, and he would be compelled to be content with the prices he could obtain under this competition; this would necessarily, by degrees, reduce prices at home, and finally obviate the necessity of protection. Already this has come to pass. The good of the country I thought demanded this; and for this I exerted all my powers and all my influence; never for a moment doubting but that in time and from results the whole people would approve the policy. Nor did I ever anticipate any political result to my own interest.