The views of Mr. Tazewell on the important topics which arose out of the efforts of South Carolina in relation to the tariff policy of the federal government, can only be alluded to in the briefest manner. He was opposed to the doctrine of nullification as expounded by the South Carolina school of politicians, and did not regard it as a peaceful and constitutional mode of redress; while he condemned the doctrines of the Proclamation of Gen. Jackson as destructive of the rights of the States, and as opposed to the true theory of our federal system. In a series of numbers which appeared in the Norfolk Herald and were republished in the Richmond Enquirer, he traced in the most elaborate of his compositions extant the history of the formation of the present federal constitution, and expounded its theory in a strain of argument as nearly approaching a demonstration as topics of that nature allow. These articles were published in pamphlet form at the time; and, with the exception of the numbers of Senex which appeared in the Herald and Enquirer, and were republished in pamphlet in England, and reviewed in the London Quarterly, on the policy of Mr. Adams’ administration respecting the West India trade, are the only serial contributions, as far as I know, he ever made to the periodical press.
The only one of the vexed questions which harassed the administration of Gen. Jackson that Mr. Tazewell, after his retirement from the Senate, discussed in public, was the removal of the deposits from the Bank of the United States by the Treasury order of October, 1833. The reasons of the Secretary of the Treasury for issuing that order were communicated in detail to Congress on the 3d of December following; and his report was discussed in both Houses for several months with an ability and warmth never before displayed in a congressional discussion. The people caught the excitement; and public meetings were held in all the commercial cities; and memorials were forwarded to Congress urging the immediate restoration of the deposits to the vaults of the bank. Each memorial, as it was received by a Senator or Representative, was honored with a speech from some master spirit. And now the most menacing monetary crisis occurred which the country had ever seen. In a little less or more than six months the Bank of the United States had shortened its line of discounts ten millions of dollars; and all the State banks in self-defence were compelled to follow the example of that great institution. Confidence ceased to exist. No man in business could look ahead a single day without fear and trembling. Men spoke in whispers, and walked doubtfully as if the earth might quake beneath their feet. The result was a change in the party relations of those who lived in towns without a parallel in our history. And it was soon seen that a new party was forming in comparison of which the tertium quid party of Jefferson’s administration was a mere bubble floating on the surface of the stream. In that tempest was rocked the cradle of that large and intellectual party, which assumed the appellation of Whig, which won some splendid victories, which encountered some decisive defeats, which then slept awhile, and which has recently burnished its armor anew for a fresh campaign.