Mr. SPRAGUE. 1 object to the bill on every consideration which has been presented by those who favor it. I can see no reason why this I object to it on the round that I stated in the beginning, that it did not come before the Senate properly; that it was sent to a committee that never had entertained jurisdiction of this subject before. It is not a commercial question; it is a question ofrevenne affecting the industry of this country, of every part of it. It is controlled, it receives its power from a few men who live and who prosperin the great commercial metrop olis of the country, and it will Operate on the industrial interests of the country as a rudder operates to bring a shipto or to direct its course. I object to it because it is a class interest; a few people obtain advantages from it, and among the fewlare those who have been enemies of the country, those whose interests are in foreign countries. I object to it because it is a hotbed that produces speculation, enabling parties to carry theirgoo s to anytime within the lnwin order to create a demand, and when that demand has been created, to reap the rewards of the speculation. A I object to this whole systemwhereby the Government become traders and lessors of stores. of all the appurtenances of a commercial house, rent warehouses and stores. fill them, have storekccpers and have draymen and drays; and have everything that s Coinmciclnl 668., rus oouonnssromx. (owns 809 honse has. Forwhatpurposes? 3TO carrythe resources of this country into foreign countries, 150build up the people of foreign countries, and to strengthen Governments that have been for the past century endeavoring to destroy the power which has produced a republican Government. I object to it on that account, because I donot believe that this Congress is intended to operate in business. I have come to the conclusion, in considering this bill, that it is not for the interest of the country to send men here to represent them who are engaged in a particular class of business. iI have a right to make that statement. Imperccptibly to themselves theywill introduce into legislation measures that harmonize vwith the ideas they have formed in the past in carryingon a prosperous business;and especially do I object to it when their honored associates are willing to take theirword as law and approve a reposition which may be submitted to them. tis not true that the plan is simplyvfor the benefit of the $10,000,000Of goods that are reexported. That isnothin; it does not "amouht to anything; it is the eather in the weight of the desire thatisintended to beaccomplished. It is to have the whole $234,000,000, the amount that is introduced into this country, “as a leverage upon all our industrial interests. Now, sir, if we will not follow the example of every other country that has been prosperous, let us at an rate look at that example. Let us see how ngland and France have become prosperous. It has been by taking the raw materials of other countries and enhancing "their value. It is readily explained. I go down to the restaurant underthe Senate Chamber and Ibuy a dozenruw oysters for 30 cents. Free trade people would saythatis allvery well; but I want. them cooked, and then they charge me 60 cents. Now, would it be policy for me, as a grower of oysters, to sell a ozen raw oysters for 30 cents and buy back cooked ones for 60 cents? I would like to ask any senator how I am goingto get rich at thatoperation. That is the policy and plan which has been carried into o ect for the last 25 ears in this country and has exhausted our and s. You have played into the hands o foreigners; you have given them the command of every product of this country, that they might increase its Valueand sell it to you at double the price that you got for it in the beginning. Just so long as you irsuc that policy you will be poor. Just so ong as you permit any instrumentality simply for the idea of getting rich to induce you to submit to that sort ofthing, you will be poor, and you will be foolish, too. I object to the bill upon every possible consideration. I object to it upon the ground that it hurts American interests, hurts the people of the U.S., and benefits the eo 10 ofother countries. I speak of that which I now. I know of 30 instances where we are today returning to foreign manufacturers 30 or 40%. of profit. In the papers of NewYork or Boston, or anywhere else, these profits never arementioned; but ifa poor, and ithorto povertystricken manufacturer is now able to get 30 or 40%., the cry is extortion on the part of theindustrial interests of the country. I have endeavored to show that where thereisno cometition in this country, the foreigner obtainst e monopoly ofyour market and increases the price of everythingto the consumer. I have "endeavored to shew that where there is a competition in this country with foreign products, the article is introduced to the consumer cheaper. I think, then, there is every consideration to influence theSenate, at any rate, to consider well befOrcthey present to this country appropdsition of this character. Allthat I have asked of the Senate is that it shall go to the ComFinance, to be considered by them in connection with themeasures they propose to resgnt to the consideration of the Senate in their policy to relieve the industrial interests of the country of time of its burdens. I haveasked severa times, whythls mud haste, why not bring it in with other indhares calculated and in. wherein they could pay their duties, and the Since that they have not been satisfie with the the tended for the benefit of other interests and of the great industrial interests of this country? There is no possible reason. Since the forma titm of this bonded warehouse system in 1846 you have feund constant manipulations with the system, none of which seem to have been satisfactory. In the 1st place, it was established in 1846; and thenin a year or 2 itwas changed. In a year ortwo afier that it was changed again, and then it was changed back to the system of 1846. It is constantly oing forward and for. ward and back and hue, to suit the convenience of these who are endeavming to effect their personal interests in the establishment of a great public measure. In 1861 the measure adopted was that the duties should be paid within 3 months, and if not paidwithin 3 months 25 perF cent. additional should be levied and assessed on the duties within 2 years, and if not paid within twoiyears and the goods remained in bond for 3 years they were regarded as abandoned to the Government. In 1802 that was changed so that the importers had a year Government formed:1 artnershipwith them by which the goods cond be kept in bulk in bond out of the market, so as to make a scarce market, and then when the market was just in the right trim for their nrpose they would put them on the market an make a profit of them. In 1862 they had a year, and they got rid of the 2tive%. requirement. Theythought then that a year would answer their purpose. year, but the time has been extended on several occasions by resolutions of the Senate and HoRep, it proved by the President, so that they have ha additional time without paying the 25%. additional duty which the law of1861 required to be paid. Now, this proposition is that they shall have 3 years within which time they may pay the duties. Thus you see the time was extended from 3 months to a year and then from a year to 3 years. There is no knowing what they will ask next. The next proposition may be, “We desire to be relieved entirely from the payments of duties.” One successful attack, the accomplishment of one position, induccs efforts to accomplish another and another. I must confess that the passage of this bill in the mad haste in which it was passed has affected me seriously. If the great interests of this country are to be so handled and managed by Congress, I can only say, God protect them. But, sir, there is one satisfaction “save in all this matter, that the American people during st 4 years have had a schooling that has righteued theirinlellect and their perceptions, and they will see what is for their true interests. The power which created slavery for itself, and which antagonized itself against theindustry and interest of the country, except wherein they could be for its profit, has been abolished and destroyed; and that poison will forever be kept from their lips, and their eyes will be opened and will continue to be opened from this time forward, and especially so as these aggressive attacks are leveled awainst theirinterests. I have an abiding faith that in the futureand thatfuture is notvery far off Sens&Reps will receive a reminder from their constituents; and I believe that a reminder from constituents comes with great power upon both Sens&Reps; I am inclined to think that it works wonders at times; and I ask the American people to use a reminder when they find and see from the exriences in their business that it is depressed, t atit is not prosperous. In 9 cases out of ten that is owing to the unsteadiness of legislation here. which the people in the est have not realized and understood. Sir, in studying the characters and lives of men who have governed the nations abroad, England, France, and Germany especially, it has occurred to me that the American representative might learn something by imitating their example, by devetin attention to the may terial interests of the people, by examining into the everyday life of the everyday individual; and instead of soaring so far into the clouds of constitutional law and the practices and commercial relations between States, devoting some portion of his time to the material interests of the people he represents, to prevent them from going astray, to prevent them from having their interests gradual y rusted and frittered away by a policy which takes their substance from them as certainly as the leech takes blood from life. If the policy which has beenv pursued in the past shall be continuedin the future, your lands, as I said before, will be exhausted for the bone fit of other people; and the time will come notin my day, perhaps, but in the day of some of those now livingwhen you will be poor, indeed. Every man engaged in the farming interest of this country knows full well the disadvantages of owning peorland. Ioorlund is the meanest property that is known in the cate gory of property. Now, sir, in conclusion, all Ibeg is, that this measure may go the ComFinance, and that an opportunity may boatforded, when the time of members of Congress is notas much taken up a! now with the “ society" of the capital, when we may have more leisure to give attention to the great interests which are before us. I want to investigate this subject in view of the light shod upon it by the men who have gone before us. When opposed this bill in the beginning, I must confess I did not understand it fully; but my eyes were opened when the suggestion was made that “no one opposed it but yourpredecessor; old Simmons always opposed it.” Finding that he had op. osed it, [p was led into asking the reasons of is opposition; and I have been growingstronger and stronger in the opinions that he endeavored to advance. All I ask is that the bill may go to the ComFinance, that it may receive attention from them, and then that it come to the Senate, and I shall wish to have something to say upon it then.