Mr. GUTHRIE. Mr. President, my individual judgment is and has been cotton tax, and also against against any a tax on so ar. thought that ccrtainl, in our present condition, after the people of the southern States had, in the course of the rebellion, lost their whole labor applicable to these productions, We ought not now to tax them. I reflected on what appeared to be the opinion of the majority of the members of this and the other House, and I came to the conclusion from their votes and from what they said, that ‘there was a prede termination to have a tax on cotton and to retain the tax on sugar. Seeing this, I thought we might make the tax on cotton 2 cents, and might reduce somewhat the tax on sugar, and I so voted when the bill was before the Senate. When I was appointed a member of the conference ComDisagreeing votes of the 2 Houses, I found that the House of' Representatives still retained its predilection for a tax of 5 cents a pound upon cot ton, and the Senate sustained the ‘inance Committee in proposing 2 cents. That was one of the difficulties among a great many that were to be reconciled. Now, in legislation it has not been my habit to set down a principle from which under no circumstances will I depart. Though I am as earnest as almost anyone to carry my views and I was exceedingly earnest in relation to the cotton tax and the sugar tax, because I did not believe the pee lc could hear those taxes, and I do not now elieve they can fairly bear them I will not resist this report. After much deliberation we finally settled on all the points of difficulty except the cotton tax, I think, prett fairly. I think the House committee acte liberally and fairly, and I think the Senate committee acted liberally and fairly in comingto an agreement. Both parties determined to adhere to the cotton tax as their respective Houses had fixed it. We offered a com.romise which they declined and I was excceingly sor, and expressed myself so when it was dec ined. Finall, however, a compromise was made settlingt e tax at 3 cents. I felt that it was within the discretion of the committee to reconcile the difference if they could, and not bring it up for discussion before the 2 Houses again. I know very well how the feelings can be harrowed up by discussions on points like this. I know that the discussion runs into the rebellion and all the feelings that have been engendered by it on both sides. I see nothing to be done now but to concur in the report, or else there will be a long delay and interminable discussion which will not tend to harmonize the 2 sections of the country. I intend to vote for this report, and then to vote for the levee bill which has been introduced, so as to give back, in the shape of an appropriation for that purpose, as much of this money as it will take to put the fields in order and put up the levees so that cotton may be made. The southern representatives on this flour for a long period consisted of patriotic and conservative men, and I look to them again on this lloor to join the conservative men and hold the halanceIin favor of aconservative government. I hope and trust to live to see that day, and I hope we shall not by long discussions upon points of this kind widen the breach. llIy judgment, as I have said, is against any tax upon cotton, and ifl were to act upon extreme points and extreme views, I would hold that there should be no tax; but still all legislation is a.compromise of conflicting opinions. Some men yield, and some do not. I am one of those who are in favor of yielding when it is necessary to accomplish an object.