Mr. PAINE. I renew it. Mr. Chairman, there is no member of this House who is more willing than I am to do anything that can be done properly in a pecuniary way to aid our southern friends in restoring their industry to the position which it occupied before the war bfpke out. But I can see no reason why this railroad company running out of Pensacola should be singled out of all in the U.S. to receive this bounty from the hands of the U.S. Why not include in the same pit pension the railroads of the West, North, and orthwest, those roads which are needed by the country and which need such aid as this? Why should railroad iron be admitted for the present free of duty in the interest of this articular railroad company when we extend the same privilege to no other road? I would like to now or what particular reason, on what particular ground, this claim is presented here. Now, Mr. Chairman, it may be as the Gentfrom Vermont [Mr. MoaniLL] has said, that a large number of the stockholders are loyal men. I believe that the largest number of loyal men are northern men and men who can i pay this duty if theyare disposed to go into the speculation. I am not'inclined to give aid to northern speculators, and as for southern men I know not why their claims should be stronger before this House or the country than those of northern men, or why southern railroads should have any stronger claim on the Treasury of the U.S. than northern railroads. Mr. Chairman, I am willing to do all that can be justly done, but I am not willing to encourage the importation of foreign iron to be used on southern railroads to the detriment of the production of American railroad iron by giving time for the payment of the duty. The gentleman says he oes not anticipate any application being made to Congress to entirely remit the duties for which securities are to be given. I do not concur with the gentleman in that idea. I feel sure that if we give time for the ayinent of these duties they will never be paid? I feel confident that it is an effort made to an entire exemption. And as to the security to be given, I would like to know whathas become of the securities given to this Government for the immense amount of rolling stock upon the southern railroads turned over to southern companies. I would like to know whether anything is to be realized from those securities. Mr. Chairman, this case stands in my view on precisely the same. I have no idea that one penny will be ned on these secu rities any more than on e taken on the roll in stock that has been turned over to the rebels. And while I will do all that can be reasonably done for the South, I see no reason for selecting out this individual company and taking security satisfactory to the SecyTreasury for the payment of the duties. I ’lieve a general rule should be adopted, and insist if it is adopted here sow in behalf of this company, you shall also a ply the same to strriggling companies in the orth and North west, where there has been no disloyalty and where the roads are urgently wanted for the development of thgcountry and for the use of the Government. Here the hammer fell.] '