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

road iron with the large the Post Office which he
proposes 10 bring forward
Mr. PRATT 1 hope NV honorable friend from North
Carolina viii consent 10 posponement 10 longer day
than the which has been designated He says that
for longer porloi would result IN depriyng
the railroad in his State OF the benefits which he supposes
win result from tins bill cannot see that that VIII be sol
because if the substitute which has been offered by the
Illinois be adopted apprehend, nasmuch as
il not only releases all iron hereafter be imported, but
also iron which has been imported since the first Of July
last tie senator's railroad will not be deprived OF The bene
fits which tins bill proposes 10 confer Then, whether II
pass month hence, will have no effect upon the
road.
Now, sir the State of Pennsylvania unIepesented at
this the floor Of the Senate Is the State most
deeply interested in the question of depriyng the IRON m
of the protection afforded by the duty proposed 10 DC
taken off; and perhaps the little State OF Maryland IS me
interested. Ny colleague Mr. PEAncEl Is
away; he has been called home by ndisposon IN hs fam
lily Both OF the senator's from Pennsylvania are ao
from their seats because OF ndispostion ihen submit
the Senate WHETHER when there ID no possible necessity
for pressing the subject immediate decision Il would
be just postpone until those States are fully repre-
upon this oori hope therefore, that the senator
from North Carolina, who Is obliged 10 80 home, VIII con-
posipoaemen until after he shall have returnedj
and will propose Monday week. instead Of Tomorrow as
the day to which this bill shall be postponed
Mr. President the remarks of the honorable senator from
New York well deserve the attention Of the Senate ana OF
the country We upon the verge OF great commercial
crisis Every it, We have had laid upon our
tables within Jew days past IN reply to resolution Oh
senator from Pennsylvania, Mr. BRoDHEAD now absent,
of the Indebtedness the part OF this country
This already due foreigners by The companies
and people of this country railroad bonds Tor railroad
ron and other securities We know that these raroau
bonds falling In the market The effect OF the Crisis IN
Europe has been send Them back here for sae and you
find that every of this description of securities 10 going
down in the market aprrehend that you 40 not require
stmuants for the purpose of having increase OF
but that the policy of the country at this time is TO 90
nothing any which shalt stimulate the different sec
tons of the country in Increasing the number OF these
If these hundred and twenty-five millions OF our secur-
held abroad be brought back here for sale IN our
every that it will bring about commercial
crisis such been known in the country for half
certainly has been experienced within
the last twenty or thirty years.
At any rate s the subject certainly OF sufhcent
importance entite il to mature consideration u should
therefore be postponed and the amendments should De
printed that every may be enabled to see their bearing
and their full bearing We should have the proposition OF
the from Texas Mr. RUsK before SO That II
anything is to be DONE may what can be done with
the least injury that great class Of the community the
IRON interest OF this country and at The same me we
bound benefit these corporations, that we may do So
For myself on looking at this subject cannot see why
the government Of the United States should be bound 70
contribute "a 100000 annually the large capitalists who
have engaged their for the purpose OF making money
by the construction of railroads the different sections OF
this country That is the bald proposition, stripped OF
everything which surrounds it, BY this bill are TO dis
trb your tariff and to strike down the greatest interest pro-
tccted by it, for the purpose of giving that amount Of
money the capitalists engaged in this particular business
Ihope my proposition 10 postpone this bill anul mex.
Monday week will be acceeded by the Senate not by
the senators who have this bill Immediately In charge ny
that time. may hope have present both colleague
and the senator's from Pennsylvania, and we shall then un
dersand better than do what is to be the effect OF
this measure and its results upon the country, and parcu
lay upon the great interest at which certainly strikes
degree least the of the protection afforded
by the imposition Of annual duty of over "a 0OOO0O
Tho proposition of the senator from Illinois contains an
other feature which, tit read, struck me to be rather
singular in Its effect proposes not only to take OIL the
duty iron be imported for railroad purposes hereafter
but have retroactive effect and the government is
refund the duties paid upon all such iron imported since
the LIST Of July last that to be The policy Of the eoun
uy-if give cspi ass who have not yet CON-
peted these works the money which they have paid TO the
government as import duties on iron for their particular
roads-how ask can we refuse to give to he capitalists OF
your State and Of Mines who have completed their roads
the duties which they have paid for the railroad IRON used
on those roads This is bounty capitalists and ask
from this city BALTIMORE and road from Baltimore TO
the Ohio river without which many Of these other roads
would be comparatively useless and those who have made
other roads which have been completed and the investments
in which have been entirely oducve should not have
returned to them the amount Of duties which hey paid
Those who being engaged in the consrncton OF
these roads are according to this proposuon to have re-
turned them the duties which they may have paid since
July last II is arbitrary rule. Why should be July
do know, except that that time suits some particular
road or particular class OF roads And why II should not
as well be July, 1850, as July, 1853, | do not know
Mr. President this is certainly subject which requires
consideration than be Bestowed upon II this morn
ing and do hope thai the Senate will concur m having
postponed Till Monday week.
Mr. WELLER. Mr.. President, think II ia very evi-
dent the discussion this morning. that II viii be I'M
possible dispost OF thus question now do not THINK
ought to be disposed Of without full investigation Why,
SIR proposition give 81 900 900 per snnum 70 the
railroad companies in the United States; and that my fdend
from North Carolina calls a very small thing. He said
he hoped my friend from Texas would not embarass his
little bill OF bis with any proposition growing out oil the
carrying OF the mails Of the United States hr seems 10
me this is a very important Ii is proposition to
take 900 Of the treasury and give that 10 railroad
companies now organized in the United States thus ena-
bling them compete successfully with other companies
who have constructed their roads, and have paid full duties
upon their iron That strikes me FRS, busb unjust
There many railroads in the United States which have
been completed for years and IN successful opera
and there companies being organized for the pur-
pose Of constructing roads along the lines intended TO
compete with them and you propose that The companies
being organized shall import into the United States
their iron free OF duty. This to me, would be an
Of injustice those who have already constructed roads
after having paid the duties exacted by law,
But SIR there is another question which should weigh
with You to look to the manufactures which have
established IN the United States for the manufacture Of
railroad iron. desire 70 have opportunity OF ascertain
ing what viii be the effect Of aboshng the duties rail-
road the manufactures which have been established
this country IL does TO me- the hfst bush that
the effect be strike down all those manufacturers Of
our who have invested their capital IN this particular
branch Of industry. But have turned my attention 10
this point; have examined this matter desire to do
before called upon 10 upon this BILL trust,
therefore, the bill will not be allowed to without full
MISREPRESENTATION knowing exactly what We are
dong-how 1t will affect only the rights and interests OF
capitalists who have completed their roads, bu, how far
will affect the interests Of the pass Of the country who
have invested their money in the manufacture OF rofroad
iron.
few moments since indicated the proprety ~ poet
ponna the further consideration Of this question for tho