:

"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skill, this protection could be withdrawn; as home protection would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
Eur