The daily union. [volume] (Washington [D.C.]) 1845-1857, 1854-04-22

7
CT would thereby bring any substantial relief to these m
eests and whether they might not be subjected to higher
prices by the monopolizng policy OF The Engsh manuae-
turers The of general war IN Europe may
change The reasoning upon part Of the subjects for
there general IN Europe, the demand on hat con
inen of railroad iron would no doubt be dimnispsi ana
IL this country should continue IN peace with Great hnan
railroad iron ght fall materially price. But sr there
shall be in Europe, with the high price Of LABOR 20
this country at this time and ~ England hee
has been great appreciation of labor there as wen as here
consider whether, by repeating The duty ana an
Initiating our own manufactures should NOT RON the
nsk of having 10 pay the existing duty should DC 70
pealed, by addition TO the price of English rats
believe the price Of railroad iron IN England - now
about 20 f6 lOs per ton. Would not the result OF re-
peal of duty be to raise II to 90 or tlU The increase
might not be immediate; but soon as the English manu-
actuep shall perceive that all engaged IN the United States
in making railroad iron had abandoned tho business would
rise in their prices certainly follow II rs not proba-
BILE that would take place Immediately; Tor British
study their interests closely that they never
pursue an impoitic course. The rise IN price would not
Immediately follow but they would wait until the manu-
facurers of railroad this country prostIated
and then would probably find that the railroad interest
| in this country had gained nothing.
am ready 10 IN some measure which VIII give
substantial relief this interest but If we cannot get re-
ducion of duty TO twenty per CENT think according oIhe
reasoning Of the memorast from Tennessee, to whom
have alluded it would be better suspend the collections
for three years after the roads shall have been put IN
operation from terminus the other II that cannot be
dono and be the sentiment of the Senate that we had bet
ter suspend the duty for five six years. should be- con-
strained by the interests which represent TO go with the
gentleman from Illinois on this subject.
have thrown out these suggestions for the purpose OF
showing that this subject which requires mature consd
eraon every aspect OF the question: and that we cannot
safely decide upon such considerations may be given
| IT IN one or two mornings
| Mr. DOUGLAS. Reference has so often been made to
the Of things in Europe reason why this PROPOSE
ton should be adopted that must notice the sugges-
made upon that point by the senator from New York
and the from Maryland They have referred 70 the
fact that in consequences Of the probabilities OF general
upon the continent Of Europe, our American stocks
have fallen in the European Market and they seem TO infer
in some wayI hardly know upon what ground--that this
a why this proposition should not be agreed TO- II
strikes that probability has any effect upon
this subject very decidedly argument In ITS iavor
for It's well known that the railroad iron which we import
for The purpose of carrying railroad system usual
paid by the sale Of American stocks in the European
market and of things has taken place since those
railroads commenced by which those stocks have been de-
in the Market the time that the cost OF the
has been nearly doubled in price, seems to be rea-
why the duties should be removed, IN order that the
stocks should further be depressed and that the expense
of building the roads should be still further enhanced
The argument has been suggested by the senator from
California; and perhaps by others that there is something
of all roads progressing nasmuch as those just COM
have paid the duty upon their IRON wish to call the
attention OF that SENATOR and OF the Senate to the TACT Aat
at the time those roads which he has referred were
made price of railroad iron ranged from perhaps $40
$50 per instead of ranging as at from SO to
$50 per and if this bill shall pass the railroad iron for
the completion of roads under construction though 1t
shall in free of duty, still 1t Will cost more than It
those who paid the duty for the iron used in the
struction of other roads.
When we come to look to this state of facts find that
argument vanshes upon closer examination of the
do that there ID the slightest probability
that the price railroad iron will be much reduced in the
mark during the time that this suspension of duty shall
main existence IL is now up to the highest point I;
high that the of duties cannot IN any way
prejudice the manufacturers of that article II is up to that
point where the remission of duties would leave still
der the principles of protection for which gentlemen con-
tend the duties not necessary to enable our manu-
featuring establishments to continue in successful operation
see no for believing that the price OF iron Will be
diminished within the next three years and you must
bear in mind that this proposition is to apply Tor only
three years from the first of July next If the European
goes on, there TO believe that The price
will be decreased and if it does not go there is still
believe IT, because the present pee arose out
of facts tina, existence before the probabilities OF the
-.
The gentleman from Maryland MR. PRArTl asked me
why fixed upon the first day of July last the time for
the operation Of this bill commence. IL is simply be-
cause il necessary 10 fix upon some Tune IL had
fixed upon the first day of January last he could have asked
the same questonwhy fix upon that day instead OF some
other Ii necessary TO fix upon some time and
wen, back he first day of July last because that was
about the point which the high price OF IRON had nearly
Mr. PRATT. My inquiry was, why fix the time retro
spectyey all In ordinary legislation, bills take effect
and become laws from the of their passage My IN
aury why FIX upon the first Of July last particularly
but why fix II retrospeciIyey st ALL
MIR DOUGLAS. | will answer the senator upon that
point The reason this II being necessary 10 NIX some
period according to my dea fixed that Of July last be-
cause the time when the price OF railroad iron APP
proached about ximum and rs II has continued 10
sell al very high price SINCE know OF no time more
than that period although the increase com
menrnd earlier think necessary back for this
reason large amount OF iron has been spproeepg our
shoes ready 10 be laid down. and great deal of is now
in bond and has been eid down. think proper 10
extend the bill that well that which VIII arrive
within the next few days This iron has been unoe
the increased price; has come IN under ms increased
price, thong right therefore, to extend the prov-
ion back during that period believe that have nothng
more TO ssy upon this point
NV object Is enable tho railroads now IN process OF
which have commenced their operations TO be
COMPLETED IT, sir, a pecun,ary Revision ~ to come, as
Gentlemen redct il wise the completion OF
those roads possible, that they shall not be total loss
n will relieve us very much from the severity Of such en-
sis Our stocks will be available and roads will be useful
The apprehension Of Pccunary crisis rs very strong
argument in favor OF the passage OF The b thee no
| insupernble objection to 1t upon other grounds
do not desire TO go into argument now but fct u
due TO the subject to make these suggestions
i Mr. BADGER II has been asked vha, difference can
il make az 10 North Carolne silroad the amendment
proposed by the senator from Illinois should be adopted
whether tho bill passes now, month hence answer
/ NON, in the world But have another alternative Sup
nose Thai tho proposition offered by the senator from Illinois
does no, meet the appreciation Of the Senate II becomes
then matter Of importance, II IT rs 70 DC OF any
value the State which represent that the s' reported
il by the Committee Finance shall be passed at once
have an amount OF iron now m bond, ana II ough
IN b. laid down The company expecting IN the course
Of fortnight or three weeks 1000 tons more What art
we to dol Let the iron remain bond and suspend oper
atoms upon The road waiting for the prospect OF the passe
Of this b great object Of the substitute as reported
by the Committee Finance, to give TO the company
in North Carolina, well as to all others which are w
cf