Mr. MORGAJ. Some time having elapsed since this bill was before the Senate, and several Senators being present now who were not present at that time, I will, as briefly as possible, state the object of the bill. By the laws of the U.S. the importer of foreign merchandise is permitted to deposit his goo s in public store or bonded warehouse, and withdraw them on paying the duties at any time within the period of one year. After the expiration of that period he cannot pay the duty. He, however, has 3 modes of relief: he can come to congress and ask for an extension of the time; is requires a special act, and has in some cases been granted; he can export his goods to the country from which they came or to any other foreign country, and thus the Government will lose the duty entirely; or he can export them to Halifax or the West Indies, as has frequently been done, being the nearest and least expensive ports, and then can import them again, place them in public stores where they can remain for a year and be subject, of course, to the laws of the U.S. ow, it is proposed that therenall be some additional relief. The 1st section of this bill permits all persons now having goods in public store in any of the ports of the U.S. to enter them for consumption on paying the duties at any time previous to the 1st of April next. There are now 100s of 1,000s of dollars worth of goods in the situation I have stated. The passage of this bill will enable the importers to enter all those goods for consumption, and the Government will receive the duties upou them, and they will be entered prior to the 1st of April next. It is not proposed in this bill to extend the period for which goods are to be admitted beyond one year, except that by paying an additional sum of 10%. they may be entered at any time within 2 years thereafter. The effect of this 10%. clause will be to cause all merchandise to be entered for consumption within a period of 12 months. It has been suggested, as a more equitable mode, to charge a specific sum, perhaps 6% a year, or any additional period beyond the 1st year payable monthly; and it will readily be seen that that would bring some money into the Treasury, because it would be availed of to some extent. For exam le, an importer has goods beyond the period of one year which he wishes to enter; he would pay the %age, whether it be 1/2 of 1%., or 1%, or whether it ran one month, 2 months, or more. But the effect of imposing an additional duty of 10%. will be that all goods will be entered during the year. That will be the effect of this bill if it passes.