This bill is entitled, “Concerning Letters of Marque, Prizes, and Prize Goods.” The title is borrowed from the two statutes of 1812 and 1813. It is, in plain terms, a bill to authorize _Privateers_,--that is, private armed vessels licensed to cruise against the commerce of an enemy, and looking to booty for support, compensation, and salary. It is by booty that owners, officers, and crews are to be paid. Booty is the motive power and life-spring. Such is this bill on its face, without going into detail. Surely a bill of this character ought not to pass without strong reason. Looking at the bill more closely, it is found to have two distinct features: _first_, as a new agency against the Rebellion; _secondly_, as a provision for privateers in any future war. I regard these two features as distinct. They may be considered separately. One may be right, and the other wrong. One may be adopted, and the other rejected. So far as the bill promises substantial help in putting down the Rebellion without more than countervailing mischief, it may properly be entertained. But what can it do against the Rebellion? And where is the policy or necessity on which it is founded? If Senators think that the bill can do any good now, I am sure they listen to their hopes rather than to the evidence. Why, Sir, the Rebels, against whom you would cruise, are absolutely without commerce. Pirate ships they have, equipped in England, armed to the teeth, and unleashed upon the sea to prey upon us; but there is not a single bottom of theirs that can afford the booty which is the pay and incentive of the privateer. It would be hardly more irrational to enlist private armed ships against the King of Dahomey. I know it is said that our navy is too small, and that more ships are needed, not only for transportation, but also to increase and strengthen the blockade, or to cruise against pirates. Very well. Hire them, and put them in commission as Government ships, with the immunities, the responsibilities, and the character of such ships. There can be no difficulty in this; and, better still, there will be no difficulty afterwards. This is simple and practical. But, while I see no probable good from launching privateers upon the ocean to cruise against a commerce that does not exist, and to be paid by a booty that cannot be found, I see certain evils which I am anxious to avoid for the sake of my country, especially at this moment. I think that I cannot be mistaken in this anxiety.