Mr. FESSENDEN. I was stating the reason why the committee thought they had better adopt an advalorem rate of duty. There is another idea on which this bill is predicated in regard to articles manufactured from iron and steel, and that is to grade the duty somewhat according to the necessary increase upon the materials out of which the article is made. That was the reason I asked the Senator what quantity of steel it took to make a dozen ocket knives. He says he is unable to answer it, and I am unable to answer it myself; but anybody can see that it is a very small amount. The increased rates of duty on steel could not by any possibility be over 2 cents on all that is necessary to make a dozen pocket knives. You should predicate your increase on the amount of material used to make the article, and not upon the fineness of the work. There may be some fine, careful work about it; but having raised the duties on iron and steel, the necessary increase upon all articles manufactured from iron and steel should depend very much, upon the amount of revenue imposed upon the quantity required. Any body can see, as I said before, that that would be the merest trifle in the world; it would amount to very little on a dozen pocket knives, In order to meet that we have raised the tariff as we supposed sufficient in proportion as we have raised other things. nder the tariff of 1864 this trade has flourished. I am fo not aware that there is any complaint that it has been suffering in any degree under that tariff; but now that we propose additional duty on iron and steel, anybody that manufactures anything from iron or steel comes forward and claims, not a corresponding rate of duty, but an enormous rate of duty, without reference to the amount that it takes from the consumers and the amount of the additional duty which the article itself pays in consequence of the increase on iron and steel, which is the smallest amount possible in the very kind of work that we are speaking of. The committee were of opinion that as the business itself did not suffer, as there was no pretense that it had suffered, but as it appeared to be doing well enough we would impose an additional duty of 5%. which is ample to cover the increase on the articles out of which a knife is manufactured. Now, to put 50 cents a dozen or 75 cents a dozen on these knives, according to their value, is not a large increase of duty upon the higher priced ones. As you go up in price the duty becomes proportionately smaller, whereas as you go up in price the advalorem duty is larger and larger. Under the advalorem duty as proposed by the committee the best kind is the most protected, as perhaps it should be, and by the increase of 5%. which we have given throughout we supposed we accomplished the purpose. It is, however, for the Senate to judge. The amendment to the amendment was rejected.