SECOND SPEECH.

The debate on the Iowa Railroad Bill was continued on successive days

down to February 17th, when the speech of Mr. Sumner was particularly

assailed by Mr. Hunter, of Virginia. To this he replied at once.

One word, if you please, Mr. President. The Senator from Virginia [Mr.

HUNTER], who has just taken his seat, has very kindly given me

notice that I am to expect "a broadside" from the Senator from Kentucky

[Mr. UNDERWOOD]. For this information I am properly grateful.

When, a few days ago, I undertook to discuss an important question in

this body, I expressed certain views, deemed by me of weight. Those

views I submitted to the candor and judgment of the Senate. I felt

confidence in their essential justice, and nothing heard since has

impaired that confidence. I have listened with respect and attention to

the address of the Senator from Virginia, as it becomes me to listen

to everything any Senator undertakes to put forth here. But I hope to

be excused, if I say, that, in all he has so eloquently uttered with

reference to myself, he has not touched by a hair-breadth my argument.

He has criticized--I am unwilling to say that he has cavilled at--my

calculations; but he has not, by the ninth part of a hair, touched the

conclusion which I drew. That still stands. And let me say that it

cannot be successfully assailed in the way attempted by him.

I said that injustice is done to the Land States, out of this body

and in this body: out of this body, because I often hear them called

"land-stealers" and "land pirates"; in this body by the Senator from

Virginia, when he complains of the partial distribution of the public

lands, and particularly points out the bill now before the Senate as an

instance. I said that this charge was without foundation. Why? On what

ground? Because there is an existing equity (I so called it,--nothing

more) on the part of the Land States as against the General Government.

And on what is this founded? On a fact of record in the public acts

of this country,--that is, the exemption of the public domain from

taxation by the States in which it is situated. The Senator from

Virginia does not question this fact; of course he cannot, for it is

embodied in Acts of Congress.

The next inquiry, then, was, as to the value of this immunity,

which I called an equity. To illustrate this value, I went into

calculations and estimates, which I presented, after some study of

the subject,--not, perhaps, such study as the Senator from Virginia

has found time to give, or such as the Senator from Kentucky, in

the plenitude of his researches, doubtless has given. On those

calculations and estimates I attributed a certain value to the equity

in question. My calculations and estimates may be overstated; they

may be exaggerated. The Senator from Virginia thinks them so. Other

gentlemen with whom I have had the privilege of conversing think them

understated. However this may be, it does not touch the argument. I

may have done injustice to my argument by overstating them. I intended

to understate them. From all that I hear, I still think that I have

understated them. But, whether understated or overstated, the argument

still stands, that these States have conceded to the General Government

an immunity from taxation,--that this immunity has a certain value,

I think very large,--and that this value constitutes an equity to

which the Land States have a right to appeal for bountiful, ay, for

munificent treatment. Has the Senator from Virginia answered this

argument? Can he answer it?

I forbear to go into the subject at this time. I rose simply to state,

that, as the Senator from Virginia generously warns me that I am to

expect "a broadside" from the Senator from Kentucky, I am to regard

what he said to-day, so far as I am concerned, simply as a signal gun.

The Senator will pardon me, if I say it is nothing more; for it has not

reached me, or my argument. Meanwhile I await, with resignation, and

without anxiety, the "broadside" from Kentucky.

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