The Clerk read the petition, as follows: To the honorable, the Senate and HoRep of the U.S. in Conveess assembled: The petition of Paul S. Forbes, of the city of NewYork, respectfully represents that the petitioner is a erritory, for the years ending June 30, 1866, merchant and ship owner, hoof had a large number of steamersof various kinds built in NewYork to compete with English built steamers in China, and always with success. In the course of your petitioner his business becamefamiliar with the methods of onstruction of builders, ships and with the engineers, and who have been employgd by him to build his steamers, and it, occurred to your petitioner that he might possibly be of some service to the U.S. by the useof his experience in procuring for them a steamer, to be built as a fast cruiser, and to combine the advantages which in his private steamers had been productive of the results of high speed and great economy. With this view, and without any design or intention to make money out of the U.S., he procured estimates to beinade by builders and engineers of the probable cost of a sloop of war of 3,000 tons burden as if the vesselwere to be built for his own private use, and having procured these estimates he proposed to the SecyNavy that he would undertake as the agent of the Navy dept to have built for the U.S. a sloop of war of the o.size for the actual cost in money for which the mechanical work could bedone charging nothing, for his own services or time, an assigning to might make, the Navy Dept the contracts he or permitting the officers of the Dept to make contracts on the plans proposed, as Dept thought the mostadvantageous. The Navy Dept at once approved of the general plan of the vessel, but objected to making a contract for an indefinite amount, which might vary largely from the estimated one. The Secretary, however, proposed to make a contract with your petitioner to have such a vessel built for the price it had been estimated to cost at that time, which was $600,000for the hull, spars, standing rigging, and machinery, and in order to advance the interest of the U.S. your petitioner accepted the contract, relying upon the estimates, which he had procured. joi. would have paid for the ship on the basis of currency, may terial, and labor as they were at the time of making the contract. Your petitioner at Henry Steers, once employed Mr. of NewYork, to build the hull by day's work, in order to securethe bestresult, and the Mor gan Iron Works to build the machinery by day'swork under the superintendence of the engineercimployed by your petitioner for that purpose. Soon after the work began, however, a very rapid rise occurred in the price of labor and materials resulting from the acts of the U.S., and as a consequence the estimates upon which this vessel had been ordered at once were in sufficient, and now your petitioner hpariscep, aid out more money than the entire contract and the ship is not yet completed, although every exertion has been made by your petitioner to have the work done as rapidly as possible. atAenlyd your petitioner further showeth that immedi after the vesselbuilding under this contract was commenced, the Navy Dept ordered the con:struction of 6 moresimilar to it, which were designed to be of the same size, but which have been some what lengthened, although not otherwise altered. These ships are building, except one, at the navy ards; but the Dept procured contracts for uilding the engines from engine builders, and the contract price of the engines alone is $750,000 which is $150,000more than the entire price of the ship and engines constructed by your petitioner.. our petitioner submits that as the spirit of his contract was not to make money for himself, but that he should act as the agent of the Government in procuring others to build a steamer, so he ought not to be required to lose money by reason of change the in prices occasionedby the act of the Government; he is not a ship builder nor a manufacturer, and his only desire was to profit serve the country without or loss to himself. Your otherefore respectfully solicits that he may be relieved from the situation in which he is placed by the said contract, by such an act as will in effect carry out the true intention of his offer to the Government, and to this end he '. '. any of the following methods which may be selected for that purpose either, 1. {o} the price of $600,000be increased in the same ratio that the price of labor and material has increased since, the estimates were made, on which he proposed to have said ship built; or, 2. That the actual bills paid or to be paid by your petitioner to the persons employed by him to do the work be paid by the Government; or, 3. That the price paid by the Government for the similar ships and engines built by contract be paid your petitioner. Your petitioner further representsthat the ship in question, the Idaho, is nearer completion than any other of the large vesselsnow building, and can be got ready for usesooner than any other of the vessels of that class. Your petitioner has only received from the U.S. $300,000 and has paid out more than $600,000, and the amount still needed to complete the ship will increase the expenditure required to be made by your petitioner, on account of the U.S., to the extent of $300,000more, as is machinists. estimated by the maYyour petitioner, therefore, asks that speedy action be taken by the Government in order to provide tehxepefudnitdiosunselyc, essary for the completion of the vessel that she may be enabled to render the service for which she was built and for which she is now much needed. PAUL S. FORDES.