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| l rnndities. from sudden reduction of dn-

 ties. He believed there was quite time enough to have accomplished this desirable object, if it had met the cons eurrenee of the Treasury, and had re- tceiyed the prompt action of tine Com mttee.

 But the Secretary of the Treasury had expressed the opinion that no fur ther reduction of duties in this article ought to take place; and his, (Mr. W's.) main object in rising, was to prevent that opinion from being received, as the unanimous opinion of all those who iii tt bs called oii to act oii tie sub jeot. He, for one, certainly was quite of another way of thinking. He thought that | further and a very large reduc- ton of duties on teas ought to be made, and to be made as soon as might be consistent with justice and equity to the dealers in the article. 1t Is impos- sible that this question should not come before Congress. Ii would certainly be agitated. The golden opportunity for disposing of it, as it seemed to him, in q manner satisfactory to all interests. had been presented, and had been lost. and he greatly regretted 1t.

 Mir. Smith called for the reading of. one of the memorials. in order that the Senate might better understand the lohject the memoriaIists had in view One of the memorials was then read by the Secretary.

 Mr. spaith then observed. that in May. 1880. an act was passed reducing the duties on teas to about one half of the then existing duty, to take effect i from the lst of January coming. Now, said Mr. Smith, the object Of tilese me merials Is to have it settled, that if any reduction Of the duties on teas be made. that such reduction shall take effect si- mnltaneoasly with that provided for. under the existing law. The petition CTS have shown to the Committee. said i aasffr. Mr. $. that the holders Of teas have suffered to the amount of two millions of dollars. Tn consequence of being kept ] ina state ofsuspense, by Congresstam- pering so frequently with the subject, no law having effectualIy taken place I i'll May, 1880, although the proposi- tion to reduce the duties on teas had frequently been agitated. When the memorials were referred to the Com mittee. they took up the subject with the most favorable impressions, and with the fullest intention, to bestow on Iit the speedieSt action; but, on mature deliberation, il had been considered that t would be impossible, at this late period of the month, to act on it so as to get bill through both Houses of Con- gress before the lst of January. i very respectable deputation from the memorialists. said Mr. S., attended the Committee and they had been perfect ly satisfied that the objects they had in view could not now he carried into ef- feet. Many gentlemen of the other House. and some of this, remarked Nr. 1 S., would not consent to act on bill of 1 the nature contemplated by the memo rialists, without going into the whole subject of the tariff.

 Under these circumstances, the Com l mittee had been compelled to report as they had done, that it was inexpedient at this time to act on the subject

 He, Mir. $. was in favor of a considera- ble reduction of the ,duhes on teas, to take effect after the public debt shall have been paid. He did not differ ma terially with the gentleman from Mas sachusetts; he agreed with him that further reduction of the duties was nes cessary; he would even reduce the dn- ! ties to a greater degree than asked for by the petitioners themselves. The Senator. from Massachusetts disagreed with ttiile Secretary of inc Treasury .fi iie Secretary, said Mir. $. had given no opinion onthe subject. The Commit tee had addressed letter to him, stat ling the views of the memorialists, and the necessity of an immediate answer. An answer had been returned the very next day, and what did the Secretary isay?

 sihe Department is not satished- I"though upon this point I do not wish Isto be considered as expressing posi- Is'tire opinion-that it will be expedient tat any time to reduce the duties on ssteas materially lower than the rates ssof January next"

 How far the Secretary was in favor |of reduction of duties on teas he.