Mr. HENDERSON. They may fall off or they may increase; it is owing entirely to the condition of the country. If old continues to go down, of course they will decrease; if gold goes‘ up, they will increase; and if panics in this country produce revulsions in the money market, of course importations will be large. That is my construction; and I cannot be mistaken, because the past history of the country demonstrates it beyond doubt; and I have shown the reasons for it. The interest of the merchants is, of course, in that direction. As this bill is a general increase of the tariff, I see no necessity for it. The Senator says we want it as a revenue measure. He is mistaken. Why is it that we have decreased the excise tax? It is because we collected last year more money than we needed. Was not that it? If we need the vast amount of money thatfo Senator imagines, why is it that we have decreased so largely the internal tax? I imagine that we have thrown off at least 50 millions by the change recently made in the internalrevenue law. Is it the policy of Congress to throw off 50 millions from the internalreve nue and to collect 50 or 100 millions of increased duties upon the tariff? What sort of a policy is that? Is that instice? Mr. President, our NewEngland friends have found out that the tariff system begins to op erate in 2 ways. They find that our friends in the central States have nowpower sufficient, to make them pay something in the shape of tariff duties. ‘or instance, a few years ago they were in the habit of gxetting their coal from Nova Scotia and other ritish Provinces, and they received it free of duty. Now Pennsylvania and Maryland step in and say, “ While you are taxing everything, suppose you put a tariff duty upon coal which on have been usin in your manufactures inNewEngland, ” an they have had to yield. The fought against it, but I understand that that dutyis left in this bill. Hence it is that NewEngland says she has not much interest init now, after having enjoyed the benefits during the last 4 or 5 years of increasing duties all the time. I say that without any as ersion upon NewEng land, because these high tariffs have been a necessity heretofore, and I applaud the loy alty, the intelligence, and the shrewdness of our NewEngland friends. I do not blame them for supporting tariffs; but now our friends in the central States find themselves strong enough to make NewEngland begin to pay; and hence NewEngland folds her arms and says, “We have no especial interest in this tariff.” Why, sir, NewEngland has a very great interest in it, because it is a large manufacturing country; but they are injured by this bill in a great many of their interests, and I suppose in this one of coal; but in many other respects they are greatly benefited by the bill. I am not, therefore, surprised that, however much NewEngland grum led and complained in the lOWer Ifouse against many of the provisions of this measure, yet when it came to the final vote, as has been stated, the NewEng land men voted for it simply because, taking it all together, it was beneficial to that section. I do not blame my friendfrom Ohio for arguing in favor of the passage of this measure, because Ohio is now one of the largest of our manufacturing States. But, sir, if we are going to pass a tariff bill, it is a measure of great importance, and it needs more consideration than we can possibly give to it now. I do not think, taking it alto ether, that much has been made by our friends in the wool interest. Some of the western men supposed they were going to gain much in this tariff by a duty on wool; but when they come to look at the final result, they will find that they have scarcely increased the tariff on wool at all, and yet have increased it from 30 to 50%. upon woolen manufactures; and Itink in view of that result they will be disposed to draw back. It turns out that the duty on the raw material, wool, is not incrcased very largely, but by the peculiar phraseology of the bill, I if do not misunderstand it, it is a tariff upon woolen manufactures instead of upon wool. Hence it is that we have gone shearing, and have not got anything. That is my idea about it, and if my friendfrom Ohio insists upon this plan being carried out and it is done, he will find in the course of a few years that coin will be sent from the country entirely, bankruptcy will succeed, the paper Ofj'our national banks will fall to the ground, an we shall find ourselves not only individ equally bankrupt but the nation in bankruptcy. That is my idea; I cannot help so thinking; and we shall find that agricultural productions which are burned as fuel now will be contin ued to be burned as fuel in the West. To mature a tariff bill requires more time than we have now. There is no necessity for it now. We have decreased the internal taxes Wdy, and we now hlvo a very high protective tariff, and the idea of increasing it for the purpose of preventing importations is all moon shine. The idea that I must give 1/2 of my fortune to my neighbor in order to save the)Ubllc finances and to save the public credit, is all moonshine. Gentlemen may make a learned argument, and a very plausible one, to induce me to believe it; but I will not believe it. Tell it to the Jews; tell it not to me. I know it has been said, year after year, for the last 5 years, that we should check excess ive importations; but just as you increase the tariff so you increase the paper currency of the country and increase prices, and one merely urges on the other; one is an aggravation of the other, and it will continue so until after awhile everything is done upon a false credit in the community. Mr. President, I perceive from the remarks of the able chairman of the ComFinance that he is not disposed to examine this bill at this session. The weather is warm. We cannot be expected to remain here much longer ; we ought not to be required to do so. The necessary legislation, that which is absolutely essential, ought to be passed upon at once, and then we ought to be permitted to leave this capital: The people of the country on ht not to require at our hands that we should stay here during this warm weather. This bill is a measure of vast importance, one affecting the financial, one affecting the commercial, one affecting the agricultural and manufacturing interests of the country to, such an extent that we ought to give it more time and more consideration than we can possibly devote to it at this session. I think, therefore, the Senfrom Iowa has made a motion for which the country is indebted to him. It is exactly the motion that ought to have been made. We ought to get rid of the examination of this measure at the present session, because it 'is one not pressed upon us by any important interest of the country; it is not needed by any of the great interests of the country; but so far from it, it is a measure which strikes, in myjudment, at the best interests of the country bot North and South, because while it may benefit a few individuals it strikes at the national heart, and ultimately, in my honest judgment, will subvert all the great and best interests of the land. Therefore it ought to be postponed, and at the next session we should begin at an early day and revise the tariff duties in such a way as to do justice to North and South, East and West.