There were in the speeches of each some remarkable passages, such only as actors in the scenes could furnish, and which history will claim. Thus: Mr. Clay gave some inside views of the concoction of the famous compromise act of 1833; which, so far as they go, correspond with the secret history of the same concoction as given in one of the chapters on that subject in the first volume of this work. Mr. Clay's speech is also remarkable for the declaration that the protective system, which he so long advocated, was never intended to be permanent: that its only design was to give temporary encouragement to infant manufactures: and that it had fulfilled its mission. Mr. Calhoun's speech was also remarkable for admitting the power, and the expediency of incidental protection, as it was called; and on this ground he justified his support of the tariff of 1816--so much objected against him. He also gave his history of the compromise of 1833, attributing it to the efficacy of nullification and of the military attitude of South Carolina: which brought upon him the relentless sarcasm of Mr. Clay; and occasioned his explanation of his support of a national bank in 1816. He was chairman of the committee which reported the charter for that bank, and gave it the support which carried it through; with which he was reproached after he became opposed to the bank. He explained the circumstances under which he gave that support--such as I had often heard him state in conversation; and which always appeared to me to be sufficient to exempt him from reproach. At the same time (and what is but little known), he had the merit of opposing, and probably of defeating, a far more dangerous bank--one of fifty millions (equivalent to one hundred and twenty millions now), and founded almost wholly upon United States stocks--imposingly recommended to Congress by the then secretary of the Treasury, Mr. Alexander J. Dallas. The analytical mind of Mr. Calhoun, then one of the youngest members, immediately solved this monster proposition into its constituent elements; and his power of generalization and condensation, enabled him to express its character in two words--_lending our credit to the bank for nothing, and borrowing it back at six per cent. interest_. As an alternative, and not as a choice, he supported the national bank that was chartered, after twice defeating the monster bank of fifty millions founded on paper; for that monster was twice presented to Congress, and twice repulsed. The last time it came as a currency measure--as a bank to create a national currency; and as such was referred to a select committee on national currency, of which Mr. Calhoun was chairman. He opposed it, and fell into the support of the bank which was chartered. Strange that in this search for a national bank, the currency of the constitution seemed to enter no one's head. The revival of the gold currency was never suggested; and in