Mr. RAYMOND. I do not want to be interrupted. You can follow me. I wish to say that is a large increase in the rate of duty on railroad iron. See what is the whole amount of duty levied on iron landed here $15 75 to be paid in gold; freight charges to be paid in gold; insurance and commission; in all $27 75in gold, or $38 62 in currency, is to be paid on every ton of' railroad iron brought here from England. That is so much protection on every ton. According to the present law it is proposed to increase it $6 75 in gold, or ten dollars in currency, so that every railroad that buys aton of iron landed here from abroad has to pay 40 cight dollars in currency over and above the cost of production abroad. If that is not sufficient protection, what, in Heaven’s name, will 1 be? '1he great objection I make to this cry for irotection is not that it is wron in principle, but that there is no end to it. We were told in the beginning if we protected this infant manufacture it would soon stand alone. We have been doing that for 30 or 40 years, and yet every session of Congress witnesses new demands for increased protection. How will this fall on the railroad interest? I take 2 railroad companies in my own State. the NewYork Central and the NewYork and Eric, both employing more capital than all the rolling interests in the U.S., disburs ling ten times as much money and providing for and supporting ten times as many people. They renew one 5th of their roads every year, and will require each 220,000 tons to lay down now portions of the ir tracks, on which they will have to pay $975,000 ofincrense; that is, both will pay u out 2 million dollars by way of protection. In Heaven’s name, is not that enough ‘2' They pay $2, (R)0,000 apiece as internal tax, and we are. to put $2,000,000 more on them in the way of protective duty. They cannot stand such oppression. And these are only 2 roads out of all in the U.S. They all paid something like 6 million dollars of internal tax, and you are proposing now to put $6,000,000 upon them in the shape of protection. I desire to see the time come when this iron interest will be able to protect itself. Here the hammer fell.]