Mr. CRES WELL. That brings the issue up still more sharply, and it comes up between the Senator and the authority I am about to read, and he must settle it with his NewEng land brother. As everybody knows, Mr. MoR RILL, of the other House, has given this subject a vast deal of labor and study, and everybody is disposed to pay deference and respect to his judgment and opinion on all subjects of this kind. On the 6th of March, 1866, in debate upon a bill which he introduced with a view to restore some of the features of the reciprocity treaty which had before that time been discontinued, he said: “When the reciprocity treaty was made a prevailed lowtariff in Canada, and England only 8 years previously had adopted the doctrine of free trade. Great expectationswere held out by the negotiator, Lord Elgin, feeding the not unwilling hopesof our of an increased demand for American manufactures; but suddenly the Canadas adopted the principles of protection and largely increased their tariff on Inanufactures. The imperial Government did not veto theseacts, and thesegreat expectations were nipped in expecting the bud. The U.S. never to find in the Provinces a productions market for the of its agriculture, nor of its mines, for ests, or fisheries, at once found their manufactures allsaoinptr, actically excluded. But now, making no comwe yet tender a law concedingcertain privileges.. If this shall not be met, by a liberality, sufficiently corresponding indicated in the conditions embodied in the bill, we have the right, and it will be our duty, to change the terms of the presentbill for such as will be most advantageous to us, regard lessof the interestsof others.” Now, when the reciprocity treaty has been disposed of, and when the little benefit that could be derived from it in other shapes has been taken away from our people, we are to have restored and fastened upon us that feat ure of it which was to us the most objection able, namely, the point wherein they brought their coals directly in competition with ours and with our great and all absorbing branch of industry. The Senator says reduce taxation as much as possible. So say I; but are we reducing taxation? The point, as I understand it, and the very turning point of this whole struggle, depends upon the fact of our raising sufficient means to maintain our credit for the payment of our debt, and sustaining such a policy as will enable us properly to diminish our currency until we can come down to a gold stand ard, and then prices will be reduced and the spirit of speculation will be in some manner checked. I am rather old fashioned in my notions in regard to currency; but I still entertain the notion that a gold and silver coin basis is best and the one to which we must ultimately return. Our struggle is to get back to that as gradually as possible and with the least possible injury to the various interests of the country. But, sir, I have spoken longer than I in tended when I rose; and I apologize to the Senate for having occupied so much time.