Mr. COWAN. I suppose it is not necessary that I should say anythin.in order that my opinions may be made pubic upon the subject now under consideration. I am sorry that this question is presented to us at this late time in the session or our consideration; but as I believe it is an important measure, one vital to the interests oft ie country I think we should not now avoid giving to it that attention which it deserves. I had thought that when we were obliged to levy a large amount by internal taxation upon the industrial resources of the country, the vexed question of the tariff would be settled, and settled, perhaps, finally. It seems however, that it is not. At the same time, I cannot but think gentlemen must seethe necessity of adjusting the tariff so as to make it correspond with our internal system of taxation. It seems to me perfectly clear that if we, for instance, levy 2 dollars a gallon on whisky, it would be madness to admit the importation of whisky free. Everybody knows that that would be to destroy our owu manufacture and to put into the hands of foreigners the control of the market of that article; and so it is with1,000 other things; in fact, I may say every thing. There is not a manufacture in the country from one end to the other that is not more or less affected by our internalrevenue laws. Everything now costs 2 or 3 times as much as it did 6 years ago. The production of every article, no matter.what, costs in the same ratio. If we are to be exposed to foreign importations under these circumstances, what is the consequence? The foreigner reaps all the advantage that is to be achieved by our inconvenient condition. Under these circumstances I think it is our duty so to adjust our tarilfofimposts as that it will protect the manufacturer here, notonly against the pauperlabor of Europe, not only against the greater abun dance of capital there and its cheaness, but that we must protect it against those urdens under which it labors on account of the fact that we are so heavily taxed here at home. Now, sir, in order to the fair and proper adj ustment of the tariff for the purpose of protecting our own people, in order that they may not suffer from the fact that a heavy debt is imposed upon us which we are obli ed to pay by interna taxation. I think it is on prudldnt that we should take this subject up an consider it, and give it that careful and prudent attention which it deserves. I am not in favor of monopolies; I am not in favor, exactly, of a tariff merely for protection; I would rather call it a tariff for self defense. I would not have the American manufacturer receive bonn ties; but I would have him put upon an equal footing with his neighbors, and I would not allow him to be crushed out and sacrificed by some factitious happening of certain fancies at home. I think, in a very short time, if the regress of the world keeps pace as it has one for perhaps the last quarter of a century, we shall e relieved of a great many of the difficulties which surround this question. I think there will be an equalization all over the world in the price of labor in a very short time. When it happens that the laborer can seek the highest market for that which he brin s into it, the same as merchandise now see s it, then we shall be relieved of that which has heretofore annoyed us competition with the auperlabor of Europe. A very great change as recently taken place in that respect. Formerly.the laborer was almost chained to the spot which have him birth. He could not get away from it, and he was there ground down to the subsistence oint. But recent improvements have enabled him to get away, an be now goes to Australia with more facility than he used to come to this country. When he came to this country formerly, it took him 100days before he could colonize 100miles away from the coast. By our recent improvements, inaugurated by our western friends in the shape of Pacific railroads, and all that kind of thing, he isthrust, the moment he lands on our shores, into the heart of the wilderness, and he is of fered a fine farm, and if you please, a mine to satisfy his cupidity. So it is with capital. capital is finding its places of investment all over the world with much more readiness than it has hitherto done. I think that all we need is a fair and honest exercise of the power of the Government in its right to levy imposts, so that we may keep our industry as far as possible at home. I am rather inclined to think that the general law, not only of the family, but of nations, is this, that whenever We go abroad to purchase that which we could ourselves produce, in the same proportion we hell have a sufficient number of idlei s who, if they were at work, would produce that which we go abroad to buy. It may be a singular proposition', but I am rather inclined to think that it can be sustained from the experience of the past. Why is it that NewEngland has been more industrious than Pennsylvania? It is only because her industry has been more varied. No man is naturally I idle if you give him that which he wants to work at, that which he wants to do; and if he lives in a community where all kinds of operations are going on, where all the varieties of things necessary to satisfy human wants are being made, he will have something to do, and he will find that which is congenial to him to do. And I may ask why it was that the inhabitants of Pennsy vania were more industrious than the people of the South were. In the South there was nothing but lanting and farming going on, and of course ail men who did not find it according to their tastes to engage in lantin or farming did nothing, and therefore tenumber of idlers was certainly sufficient if they had been set to work, to produce all that which the South would have needed to come from abroad; and they would have been so much richer to da on that account. I think it is the policy of the American people so to regulate their excises and their imposts that everything which they can of themselves they should produce 1perroeduce instead of going abroad to purchase it; and in that way all their people Will be employed, and all will grow rich in consequence. Vhy should my friendfrom Iowa go abroad to buy railroad iron? He is not buying railroad iron exactly. What is the composition of a ton of railroad iron? It is not a certain amount of iron ore exactly. Ifyou take the trouble to take down a ton of railroad iron and unroll it you will get out of it a stack of buy; you will get out of it. a few dozcn bags of cats; you will get out of it; 2 or 3 fat hogs; you will get out of it a barrel of flour; and you will get out of it, I believe, about 40 days of human labor. The iron ore which enters into the composition of it is the very smallest part of it; the rest is labor and agricultural products. Does be desire that labor shall be im orted into this country in order to comete With Iowa labor? Does he desire that barre s of flour shall be.imported into this country in order to compete with Iowa flour or oats or hay or pork or beef or even whisky, because I believe Mr. Morell, of my neighborhood, who manages the largest single '1 in the world, says it requires 2 gallons of whisky to make a ton of railroad iron, or at least that 2 gallons of whisky are absorbed in the manufacture of that article. Now if my bonerable friend will just take into consideration the constituent elements of a ton of iron he will see that in protecting it as against the foreigner, he is protecting the productions of his own people.