Mr. FESSENDEN. We should have to borrow the money and increase our national debt. If the thing is to be done it should be accurately done, carefully done, done upon correct principles, those that will he satisfactory after it is done, and not a he lter skelter, higgledy piggledy arrangement that no one can understand the effect of, except that it does not equalize anything. That is one reason why I think no such measure should be adepted, at this session at least. Besides, I think that before any such great measure is adopted somebody else should be heard from besides those interested in it, the soldiers themselves. I think that nothing will be lost by inquiring of our constituents and when I say “our constituents, " I do not mean the soldiers alone, but I mean all our constitquents and finding out what public opinion really is on this subject. My own notion is that public Opinion is not so decided as gentlemen suppose, when you get out of the influence of those who have been soldiers themselves; and I do not look upon it as a matter of principle that with the present heavy national debt upon us we should increase it by this large amount for this purpose, without very great deliberation and Without an understandingofwhat we are doing, and unless it be in answer to a very decided call of the people, and not of mere soldiers’ and sailors’ conventions held for the purpose of accomplishing the object. Another reason in my mind is, that it is not the payment of a debt. All our debts in that direction have been paid; it is strictly a bounty, agift, nothing more nor less, and as a gift it will amount to the ver large sum stated. Not beinga debt tobe pai, but beinga gift, a very serious question arises whether it would be a sensible or even a popular measure after it was done. You may give to the soldiers $100 apiece if you please, make them a present of that much; it lasts buta few days, they have the pleasure it confers for a short time; but the taxation endures for years and years; and it would not belong in my judgment before those who were instrumental in thus enlarging the debt would be held to quite as severe an account as will now be those who refuse to make this gift; and there is time to make it hereafter ifthe people call for it and will sustain it. These are my 0 inions, and I express them in answer to what has been said in regard to the effect of a defeat of a measure of this kind. I did not vote for the increase of our own pay, for the simple reason that, in my jud ment, it was better to deferaction upon that subject; but a majority of the Senate overruled me. I agree most fully that the compensation of members of Congress, considering their position, considering their expenses, considering what they have to do from year to year, and what they have to bear, is the most miserable compensation paid to any officers of the Government or any persons connected with it that I know of. I have felt it for years. I have borne it because I chose to bear it. There are others, erhaps, not sawell able to bear it as I am. the senate decided that it was proper to increase the compensation. It is not for me to quarrel with the decision of the Senate on that or any other subject. In this committee of conference I represented the Senate. I was disposed and ready to carry out the decision of the Senate; but still I believed that under the circumstances that might as well be deferred, and feeling that the Senate was content that it should be deferred to another session of conress, I was disposed to let it go out of the bi 1, although it would have been a stretch of power in the committee of conference, perhaps, that might. have been remarked upon. If there had been a collision between the House and the Senate on that point, as one must yield, we thought it advisable that the Senate should yield; but as the chairman of the committee [Mr. Siinaxxx] has stated, the question did not arise whether we ought to yiel or whether we could yield. That was not allowed to us from the course taken by the representatives of the other House in the conference. All we had to do was to represent the Senate, and being able to. obtain the carrying out of the views of the Senate on these 2 points, we did so. There is the simple state of the fact. Now, sir, I have great confidence in the judgment of the people. I am not afraid of their decision. I never have been. The same out cry was raised when our compensation was somewhat increased about ten years ago. But there was no real complaint made of it except in some papers that wanted to make party capital out of it. The people were perfectly satis tied with it; and I think they Wlll be satisfied now when they come to reflect and know that there is not a member of this Congress living in this city who can support himself, or begin to support himself, at the expenses here, upon what he receives for compensation. That is the fact. It is the fact with regard to myself; and although I was willing to bear it longer, to continue the present inadequate compensation might be very great injustice to oters who have not, perhaps, the same ability to bear it that I have great injustice, perhaps, to my friendfrom Massachusetts himself. I am perfectly willing to leave that matter to the people, in the full confidence that the people of this country, knowing what their public servants are and what. they do will judge them leniently and kindly., ] With regard to the other question, there is a difference of opinion; it involves 100s of millions; it must necessarily throw a greatly increased burden on the Treasury, not in payment of a debt, not to support persons in the rendering of services in the present or in the future, but to pay for past services which have been settled fully according to law, by a gift. a bounty. Well, sir, if that is justly due, the time will come when it will be paid, and id, as I said before, under a proper bill an one that does really equalize the bonnties. I am not afraid to meet the judgment of the people on both questions.