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| point During the existence of the last Bank of
the United States exchanges sometimes rose as
| high as ten per cent. andhe believed higher. Mr.
Cohen also examined Mr.. Clay's claims to the
support of the people of Georgia, and adverted TO
Judge Berrirn's vote against Mr. Claws nominal


ton as Secretary of State, in 1925, and readthe op-
inions of the leading Wing journals in 1888 and
1889, against his being supported by the Wings
of Georgia.


The hour allotted to each speaking expired Mr..
Cohen was forced to omit speaking on the other
questions. D.


The "veteran Senator" himself was next and
last upon the stage, or rather upon the ground. as
he refused to mount the rosrum, saving 'he pre-
fered to be upon level with: all of his fellow
citizens" Mr.. B: is acknowledged to be the
AJAX OF Whlggery in Georgia, land he brought all
his powers OF eloquence to bear upon his theme
but the gift wasahnoss useless upon. such a SUBJ
|ject


Non hos questum MINUS IN usus" =


He spent nearly the whole Of the hour allotted
him, in defining his position and explaining his
past history. Mr.. Cohen had placed him in an
unfortunate predicament; he conld not praise
Henry Clay because Mr.. Cohen held up before
Mr.. B. his own recorded vote against him as
being unworthy of the office Of Secretary Of
State in 1925; he could not advocate the Tariff
because there in the way the terrible anas
themaS, which he had himself uttered against il
in former times, and so on, with nearly all the
other great measures. He acquitted himself
however, asvery few others could have done unl
der the circumstances and made what we should
denomlnate glowing partizan speech" Mr..
G. had the right of reply, but refused to avail
himself of 1t, as not one of his former positions
had been assailed, and thus ended the battle, and
we end as we began, BY saying, it will be a long
time before the Wings of Chatham will consent
to meet the Democracy in another such Il conflict
Mr.. G. said, that this was clear exhibition of
their opinions, and he defed Judge Berrien to an
swer, or convert them.


And upon the trite argdment of the present
Whlg party, that prices reduced by high
tariff: Mr. G. again brought forward the strong
arguments Of the Hon. Senator:


1t is strongly urged, as a ,moti7e TO fhe COR
tnuance of the existing Tariff that its operation
has been to effect a reduction of prices These
have, in fact fallen SINCE 1876 and our opponents
contend that this has been the result Of domestic
competition. 4 moments reflection will demon
strate the faIlacy of this assertion We present
single fact in the outset The diminution of price
has been generGl-as we'll in relation to articles
which are not protected by the existing tariff Of
duties-as to those which are. 1t cannot there
fore, have risen from this cause. Let us remem-
ber now, that this diminuton of price has occurred
every where-abroad as well as at home-and





quence Of the Tariff ia a greater degree there
than here. Among the causes which have pro-
duced this result, two prominent ones present+
ell TO your conslderati 'n-the diminished amount
of the circulating medium of the world, and the
astonishing Improvements which have been intro+
duced III ffe modes Of production. The cost Of
production is less-the comparative value of mo-
ney has become greater. Can we wonder at the
rcsult2 Take the Of cotton goods-thess
have fallen in price here since the enactment of
the Tariff But the same thing is true, not only
in an equal but in a greater degree, a5Toad-and
the reason is obvious. The causes which have
produced this result-those which have been be-
fore staed-have elsewhere been left to exert their
full influence in efccting the reduction of price
Here their operation has been restrained By the
conflicting influence Of the Tariff Fhe rcduc-


ton, therefore, with us, has necessarily stopped at
point, which is ascertained by adding the a.
mount of duty to the price Of the imported arti-
Gle. Thus the dlminuton of price here has not
been produced by the Tariff but in despite of it
and has been retarded by it. But, for this law,
the imported; which would take che place Of the
domestic article in the consumption of the eoun-
try, would be obtained at a price greatly below
that which we actually pay, ana the difference,
amounting yearly to mary millions of dollars,
would be saved to the community. It cannot be-
doubted that the prices Of all commodities, the
domestic production Of which is forced by tile I'M
position Of q duty on foreign article of SINH
lar description, are raised by the amount of duty
necessary to effect the exclusion Of the foreiga az
ticle, that this increase of price is paid by the
consumer, and that the loss TO the nation, which
is occasioned by this system of protection is
| ly equal to such difference of price.


MIR. Cohen then concluded his extracts by read
ing the following:


/" 1t is said that dependence upon other nations
for those manufactures which are essential to our
wants, is inconsistent with our character as ma
ton; in this view, that the Tariff is essential to
National Independence. To us the term seems
to be strangely misapplied. 1t is agreed, that a
system of Free Trade among all the nations Of
the world, by securing the application of the high
est energies of each to those objects which it was
best qualified to produce, would enlarge the a.
mount Of production, and increase the sum of hu-
man comfort. But such stage of things would,
according to the argument which is urged, be
state of universal dependence, and precisely the
same consequence would follow, in relation to the
commercial intercourse Of any given nation with
the other nations of the world, to the extent OF
that intercourse, whether system of Free Trade
or Of partial restrictions should prevail. That in
tercourse consists in the mutual interchange Of
commodities, and it is impossible TO conceive the
idea of dependence On the one side, without re-
coonizino the fact of a corresponding denendcnce