Mr. GUTHRIE. Mr. President, I have dif ficulties about this bill on 2 points. It is avowed here as a rule that we are to pay the cost of this work, though it exceeds the contract price. Are we to establish the precedent that nobody that Contracts with the Government is to lose; that Congress will make up any loss? That is a pretty broad precedent to make, particularly at this time, or, indeed, at any time. Another question involved is that you guaranty by this action the value of the currency, or in other words you guaranty them against the increase of war prices during the time the are fulfilling their contracts. I should not like the Senate to establish either of these principles, that the contractors with the Government of the U.S. are to be paid the cost of their work without regard to the contract price, or that they are to be indemnified for the depreciation of the currency and against the increase of war prices. All that is embraced in the resolution that was passed by the Senate at the heel of the session last year, authorizing the Dept to form this board to use upon the cost of the vessels. If I was ma.ing laws to last for all time to govern a people, I would make no such rules and regulations. I have been, to a limited extent, engaged in public works; and my experience has been that there is a difference in the talent, ingenuity, and skill ofeontrse tors. One man or one set of contractors will do their work, pay all their hands, and make money, and upon the same description of work and at the same riccs another set will fall short and not be ob. to pay their hands, and fail in the end. Why is this? It is on account of the superior energy and skill of some, their power of combination, and their ability to aply their means to the end in view, the accomplishment of the work. If I can understan these reports, that has been the case in some of these contracts. Under precisel the same circumstances some have complainc of no losses and others have complained of pretty heavy losses. Now, we know what ship builders are, as well as what the should be. Give them the dimensions of aslip, and the character of the vessel, and they know what quantity of timber is needed; they know what iron la necessary and the amount of labor necessary to accomplish it. They can make their estimate of what it will cost them, and allow for a fair profit, including their capital in machinery and in the investment; and as intelligent men they do make their estimates and air bids accordingly. We know the immense fortunes that some of these ship builders have made, and yet we know that there are others who fail, and so it is in all the evocations of life. Men of skill, energy, and judgment are the pros perous men; men who lack skill, lack energy, and lack judgment are the men who fail in the affairs of this world. Now, sir, I am unwilling (and that is my difficulty about this bill) to make the rule that this Government is to answer for whatever a contract may cost the individual to accomplish the work, without regard to the contract price. They are sagacious men; they make their calculations upon the character of the currency and the chances of its depreciation. They know the effect of war an how it changes prices, and that, too, if they are fit for their avocatrons, enters into their calculations when they bid. I believe all these specifications required them to make additions and alterations before the completion of the work; and that was within their contemplation at the time the made these contracts. It may be true, an no doubt is true, that they have been de layed by these alterations, by the large nddhtional work that was require to be done; but for this additional work they were paid under the contracts. They may not have been paid for all the delays, all the damages that were ; done them. They could not have foreseen the I extent of this additional work. They may have supposed the designers of these vessels understood their business and had made the desivns carefully and that the alterations wou d be but small and immaterial. An altersation that would cost an additional $500,000 certainly was not within the contemplation of any contractor, because it never should have been allowed by a Dept that understood its business in relation to the building of vessels.