"In point of material wealth and resources, we are greatly in advance of them. The taxable property of the Confederate States cannot be less than twenty-two hundred millions of dollars! This, I think I venture but little in saying, may be considered as five times more than the colonies possessed at the time they achieved their independence. Georgia, alone, possessed last year, according to the report of our comptroller-general, six hundred and seventy-two millions of taxable property. The debts of the seven confederate States sum up in the aggregate less than eighteen millions, while the existing debts of the other of the late United States sum up in the aggregate the enormous amount of one hundred and seventy-four millions of dollars. This is without taking into account the heavy city debts, corporation debts, and railroad debts, which press, and will continue to press, as a heavy incubus upon the resources of those States. These debts, added to others, make a sum total not much under five hundred millions of dollars. With such an area of territory as we have-with such an amount of population-with a climate and soil unsurpassed by any on the face of the earth-with such resources already at our command-with productions which control the commerce of the world-who can entertain any apprehensions as to our ability to succeed, whether others join us or not?"

“When perfect quiet is restored, I shall proceed. I cannot speak so long as there is any noise or confusion. I shall take my time I feel quite prepared to spend the night with you if necessary. I shall take my time I feel quite prepared to spend the night with you if necessary. I very much regret that everyone who desires cannot hear what I have to say. Not that I have any display to make, or anything very entertaining to present, but such views as I have to give, I wish all, not only in this city, but in this State, and throughout our Confederate Republic, could hear, who have a desire to hear them.”

“But to pass on: Some have propounded the inquiry whether it is practicable for us to go on with the confederacy without further accessions? Have we the means and ability to maintain nationality among the powers of the earth? On this point I would barely say, that as anxiously as we all have been, and are, for the border States, with institutions similar to ours, to join us, still we are abundantly able to maintain our position, even if they should ultimately make up their minds not to cast their destiny with us. That they ultimately will join us be compelled to do it is my confident belief; but we can get on very well without them, even if they should not.”

“This new constitution. or form of government, constitutes the subject to which your attention will be partly invited. In reference to it, I make this first general remark: it amply secures all our ancient rights, franchises, and liberties. All the great principles of Magna Charta are retained in it. No citizen is deprived of life, liberty, or property, but by the judgment of his peers under the laws of the land. The great principle of religious liberty, which was the honor and pride of the old constitution, is still maintained and secured. All the essentials of the old constitution, which have endeared it to the hearts of the American people, have been preserved and perpetuated. Some changes have been made. Some of these I should have preferred not to have seen made; but other important changes do meet my cordial approbation. They form great improvements upon the old constitution. So, taking the whole new constitution, I have no hesitancy in giving it as my judgment that it is decidedly better than the old.”

“In this connection I take this occasion to state, that I was not without grave and serious apprehensions, that if the worst came to the worst, and cutting loose from the old government should be the only remedy for our safety and security, it would be attended with much more serious ills than it has been as yet. Thus far we have seen none of those incidents which usually attend revolutions. No such material as such convulsions usually throw up has been seen. Wisdom, prudence, and patriotism, have marked every step of our progress thus far. This augurs well for the future, and it is a matter of sincere gratification to me, that I am enabled to make the declaration. Of the men I met in the Congress at Montgomery, I may be pardoned for saying this, an abler, wiser, a more conservative, deliberate, determined, resolute, and patriotic body of men, I never met in my life. Their works speak for them; the provisional government speaks for them; the constitution of the permanent government will be a lasting monument of their worth, merit, and statesmanship.”

“Under the old constitution, a secretary of the treasury for instance, had no opportunity, save by his annual reports, of presenting any scheme or plan of finance or other matter. He had no opportunity of explaining, expounding, enforcing, or defending his views of policy; his only resort was through the medium of an organ. In the British parliament, the premier brings in his budget and stands before the nation responsible for its every item. If it is indefensible, he falls before the attacks upon it, as he ought to. This will now be the case to a limited extent under our system. In the new constitution, provision has been made by which our heads of departments can speak for themselves and the administration, in behalf of its entire policy, without resorting to the indirect and highly objectionable medium of a newspaper. It is to be greatly hoped that under our system we shall never have what is known as a government organ.”

“Another feature to which I will allude is that the new constitution provides that cabinet ministers and heads of departments may have the privilege of seats upon the floor of the Senate and House of Representatives and may have the right to participate in the debates and discussions upon the various subjects of administration. I should have preferred that this provision should have gone further, and required the President to select his constitutional advisers from the Senate and House of Representatives. That would have conformed entirely to the practice in the British Parliament, which, in my judgment, is one of the wisest provisions in the British constitution. It is the only feature that saves that government. It is that which gives it stability in its facility to change its administration. Ours, as it is, is a great approximation to the right principle.”