Mr. CHANDLER. I desire to increase the duty on scrap cast iron to 8 dollars perton, and on scrap wrought iron to 12 dollars per ton. How such a bill as this could ever emanate from the ComFinance is to me a mystery. If it did not come from a so distinguished source, I should say it was an absurdity, but coming from so high a source, I can only say of it that it is total ruin to the iron interests of the U.S. The committee propose to admit scrap wrought iron at 3 dollars per ton, and charge 9 dollars per ton on pig metal. Wrought iron can be made from pig at an expense of 28 dollars per ton today. Under this bill all the railroads on earth will pour their old worn out rails as scrap iron into the founderies of the U.S., and it is well known that railroad bars have to be rerolled on an average once in ten years. These duties are destructive to the revenue, destructive to every iron furnace of the U.S., and will put them all out. You might as well admit railroad iron at a duty of 3 dollars per ton as to admit the wrought scrap at that rate. It will put out every blast furnace in the U.S., and not a single pound of pig metal will be imported under the bill. We shall become the recipients of all the scrap in the world, and shall import nothing but scrap. Sir, such an absurdity was never before proposed on this or any other body, in my judgment. It is a bill gotten up to suit the railroad rolling mills, and to sacrifice every other iron interest in the U.S. but the interest of these railroad rolling mills. They buy this scrap, and of course they are satisfied. The result of it will be that they can bring in all the iron they manufacture at a duty of 3 dollars per ton. No doubt the railroad rolling mills are satisfied. It is millions upon millions of dollars in their pockets, and as many millions out of the Treasury of the U.S. You will import nothing but scrap, and you will receive 3 dollars per ton and no more. Mr. President, I hope this amendment will be adopted, and I desire to have it adopted in the form in which I Present it, namely, 8 dollars upon old cast scrap, which is exactly the same value as pig, and 12 dollars on wrought scrap. I leave a discrimination of one dollar between the duty on pig and on cast scrap, and I raise the duty on old railroad bars which would really bring the grand total of our imports under this scrap law to 12 dollars, while the duty on bars is fixed in the bill at 14 dollars. I hope the amendment will be adopted. The section as it stands is total ruin to the iron interests of the U.S.