The PRESIDENT protempera. The reading of the report of the ComNavAffrs on this question is asked for, and it will be read if there be no objection. The Secretar read the following report, submitted by Mr. itmssv on the 31st of May: The Committee of Naval ffairsof the Senate, to whom was referred the petition of Pn ulS. Forbes. BHIYIDK for relief under is contract With the Navy dept to build and furnish thesloop of war Idaho, have had the same under consideration, and submit the following report: The papersin this cageshow that on the 22dday of Mag, 1863, Paul S. horbes entered into contract with the Navy Dept to build a steamscrew slonp of wrir, andlto deliverher to the Government fully completedWithin a period of 9 monthsfrom the duti of contract, which vesselhe alsoguarantied should have a capacity ofspeedequalto 15 knots an hour. The contract price for the vessel was the sum of $000, s It appearsthat instead of the vessel bring deliv ered to the Governmentin nincmonths fromthodate ofcontract, sheis not yet completelyfinished. And it further appearsthat the vesselfails also in the re aiiisite of speed, and is not cu able of making the ftean knots an hour require by the terms of the contract. The Navy Dept admits, andyourcommitteo fully. Belicye that Mr. Forbes was actuated by pn triotic motives in enteringinto this contract. [0 is a merchant and ship ownor, and has had a large number of steamers uilt for the merchant marine, gaenndcwieisth marked success. At a timewhenthe exi of the country demandeda large increaseof the Navy and when everyeffortin that directionwas ianngetfhfoartt.fhoer twhoeupldubtlhicergeoboyd, Mr. Forbes.fully believ do the country a service, cameforward with his proposition to build the afore said vessel. He did not expect to make any money thereby.but he believedthat he could, with his expenence and cncrizyfurnish theNavy with asuperior vassel ina brief period, and thus assistthe country materially in the conflictwith her foes. the SecyNavy, in a communication to the committee upon this subject, says upon thispoint. “That Mr. Lorbes did ine then gagein this work from mer cenary or pecuniary motives I have always believed." “lic persuadedhimself, toirmwea, s persuadedby othersJhat he could, in n brict build a.vessel (Bissessingsuperior qualities to on ! which the Navy dept eould build." our committee are informed and believe. that the vessel in questionhascostMr. Forbes some300,000 dollars abovethe contract price, or somen ine100,000 dollars in all. They are also inforiiiedjhat. with the exception of the engine, the vesselis well built and thafslic is fully worth to the Government notwithstanding the defioicncics of her engines.the nriiouiit of the contr 0t price. Your committee, therefore, in vie woft is not and In consideration of the patriotic motives which prompted Mr. Forbes to enter into the contract, and also in consideration of the fact that the Government is enabledto profit by the knowledge and experiencederived from such experiments.feel warranted in recommending, as they do. that Mr. Forbes he releasedfrom his contract for the construction and furnishing of the steamscrewsloop of war Idaho, and that the Navy Dept be authorized to purchasethe vessel, when completed, at a cost not exceeding the contractprice. Or if. in the judgment of the SecyNavy, the interestsof the Government may be the better subserved .ho is empowered to transfer to the said Paul S. Forbes the said vassel.wbenthesaid Forbes shall give goodand sufficient guarantee that he will refund to the Govern fmere, nt.within 6 months fromthe date of said transfer all moneys advanced by the Governmentto him on his contract for the building and furnishing of the said vessel. Your committee. therefore, report the accompanying JtResolution. The JtResolution was reported to the Senate without amendment.