The protective tariff has destroyed our ocean commerce. It would not be profitable to spend time in reviewing the duty levied upon the materials and in the construction of vessels for ocean commerce. The fact is well known that our carrying has passed into the hands of other nations. That vessels can be built more cheaply in foreign ports is well known, as also that American ship owners build or purchase their ships in Europe, sail under English colors, and use English papers, assigning as a reason therefor their inability to pay the duty upon the materials used in ship building. So oppressive is this duty, and so damaging has it become to our commerce, that congress is being urged to grant subsidies to ship owners. As a necessary result of this system of protective tariff, the American built ships cannot carry freight as cheaply as those built in foreign countries, and the producer must be content to have his produce, already taxed to a half or two-thirds its value for inland transportation, taxed beyond the amounts charged by the vessels of other nations for ocean transportation, or allow the ocean trade to remain as it now is, in the hands of England. American seamen must abandon the ocean, or sail under foreign flags. Protection has destroyed our mercantile navy, and compelled our seamen to seek employment elsewhere, and in other occupations. With our vast agricultural wealth demanding the markets of the world, the protective policy of the government effectually closes our ports to other nations, while the farmer is obliged to accept for his grain the low price that a home market, already glutted, will afford him. The protective tariff is draining the country of coin, and making it impossible to resume specie payment. Taking it in connection with the combination of corporations, and Wall street brokers, the prospect of having coin as a circulating medium is but faint, if it is ever possible.