Mr. LATHAM. Well, then, I renew the amendment of the‘g'Gentfrom Pennsyl vania, [Mr. S'rsvnxsj Mr. Chairman, with reference to the remark made by the Gentfrom Massachusetts, [Mr. Bou'rwnutj that a duty of $1 60 perton would afford no protection to the coal interests, I will only reply that that is all we ask. While Massachusetts interests are asking 100%. protection to many of their interests, Bergen. I desire to give the gen We ask only $1 50 perton, which amount." 20 ‘5%. ijr I use more for the purpose of indicating whatI believe should be the financial policy of this country toward foreign nations than of advocating any particular local interest. I have thus far consistently advocated and will continue to advocate the highest import duties proposed upon all articles which are or can be produced in this country; and I do this not with a view primarily to the protection of American enterprise and capital, but with a view to the protection of the national credit, the indexto which is the gold value of our currency; and the protection thus given to enterprise and capital is incidental and of 2ndary consideration. My own convictions are that enter prise and ca ital will protect themselves the world over wiien placed everywhere upon an equal footing, and that they will seek the most profitable channels of investment and prosper most when least interfered with by 10 'islation. These being my convictions, I am for rec trade and unrestricted competition, for buying what I must buy where I can buy it cheapest, and selling what I have for sale where I can sell it highest, when we can have perfect reciprocity with all nations.. There is, however, sir, no proper or equitable reciprocity in trade between different countries which do not recognize a common currency; and conse ueutly while greenbacks are a legal tender in this country, and are notso in England or other countries, I would protect the public credit by prohibitin importations from foreign countries until tiose countries are willing to receive our securities at par. There is no legitimat'e reason for a premium on gold except that there are demands for money, debts to be paid which can be discharged only with gold, and the greater these demands the greater the premium on gold; or, in otherwords, the depreciation of ou'r currency, which must remain with us a legal tender, and the gold value of which is, as I have before stated, the indexto the national credit. In order, then, to sustain the national credit and bring our currency to a specie value we must cut off, as far as possible, all demands for money for which our currency is not a legal tender. The prohibition ofimportations will strike the‘evil in its vitals and release the struggling credit of the 'country from the encircling folds ofthil anaconda which is crushing out its life. And, sir, this policy is not for the protection of the manufacturer and capitalist alone, but for the protection and the interest of all, as all alike are interested in the value of our car rency; and home competition in the various branches of enterprise will be sufficient to reveut monopolies in any, will purify the c an nels of trade, and reserve a healthful equilib rium between all the depts of industry. But for the sake of the argument, admit that the rollibition of importations from abroad wou d raise the price of commodities in this country; it would at the same time, by cutting off the demand for gold, raise the value of our currency in a greater proportion than the price of the article, and would thus enable us to pay more easily for the article at the advanced than we now can at the lower rate. To illustrate: $1 50 in currency is now worth one dollar; the prohibition of importations would raise the price of goods say 25%., but the value of our currency 50)er cent. What now at the lower rate is wort onedollar, but costs in our depreciated currency $1 50, would then at the advanced rate be worth $1 25, and would cost no more in our currency then up preciated to gold value, being a clear gain to the consumer of 25 cents par in me cost of the articlegold being always the standard of values. I And, sir, we should bear in mind except the drones in society, occupythaatttg, e saute time the double relation of both producer and consumer. What the farmer prouces the manufacturer consumes, and what the manufacturer produces the farmer consumes; and so on through all the depts of industry, tbrpugh which capital and enter rise ebb and flow to seek a common level as o the waters of the great deep. Now, sir, just one word with referencc to the provisions of this section. M admiration at theingenuity with which this iscrimination is sought to be made in favor of British American coal is equaled only by my humiliation at the thought that American statesmen are capable of making an elfort to sacrifice a principle of great national import and application for the pecuniary advantage of a section, and of a few capitalists of that section who have in vested their means in these foreign coal fields, and who will pay by the duty proposed less revenue to the Government by investing their capital out of the country, than the same cap ita would pay under our internalrevenue laws if invested in an enterprise of the same character within the country. This proposition, sir, is not based upon friendship for oradesire for reciprocity in trade with Canada, but upon considerations of a nature purely sectional and selfish. Sir, let us have the principles of political econoui of uniform application through out our entire common country, no invidious discriminations between other nations of the earth, 'protection to the citizen by protecting the national credit, and reciprocity in trade only where greenbacks are money. [Here the hammer fell.]