cal, agricultural, scientific or otherwise.
Whether the cost of the necessities are increased or diminished by
this policy is a matter of comparative indifference, so that the
people are employed at fair wages in making or producing all the
articles that can be profitably produced in the United States.
The gist of my opinions on the policy of protection is contained
in the following paragraphs of this speech:

"Whenever tariff duties are levied at a higher rate than sufficient
to compensate our laboring men in the different rates of wages they
are fairly entitled to receive, then I am against the tariff act.
I have never favored any tariff that, in my judgment, did not
furnish sufficient and ample protection to American labor. As to
American capital, it needs no protection. The capital of our
country has grown so fast, so large, so great, that it does not
need protection. We are able to engage in any kind of manufacturing
industry. We are able, so far as the capital of our country is
concerned, to compete with foreign production. The rates of interest
on money in this country have fallen very nearly, though not quite,
to the European rates. Therefore, capital needs no protection.
It ought to demand no protection, but it ought to demand, and it
ought to receive, in every branch of American industry which can
be carried on here with profit, that degree of protection which
will enable the manufacturer to pay to the American laborer American
wages, according to American standards, to satisfy the wants which
are required by the average American citizen, and that is all that
is desired."

Having referred to the principal measures of Congress during the
long session of 1891-92, I recur to some of the personal events
that followed my re-election. It was received with general approval
by the press of the United States. On the evening of the 30th of
January, 1892, the Ohio Republican Association, at Washington,
extended to me a reception at the National Rifles' Armory. Several
hundred invitations had been issued, and very few declined. The
hall was beautifully decorated with flags, and in the gallery the
Marine Band was stationed and rendered patriotic airs. I was
introduced to the audience by Thomas B. Coulter, the president of
the association. He deplored the illness of Secretary Charles
Foster, who was to have delivered the address of welcome, and then
introduced S. A. Whitfield, who made a complimentary address