"The truth is, that, in the opinion of your Committee, the temper of the times requires that we shall keep pace with the rapid improvements of other nations in their commercial and military marine, and that the only choice is, whether it is to be done by constructing vessels for the packet service, at a boundless expense to the Government, or by aiding private enterprise, and thus not only eventually avoiding expense, but adding largely to the revenues of the country. It will be seen from the above extract from Mr. King's speech, that, in the course of five years, the balance in favor of the Government from the Cunard line alone was $5,286,000. The New-York and Liverpool and Bremen lines will come in for a large, if not by far the greater, share of the postage and freightage heretofore enjoyed by the Cunard line; and the line to Chagres, for the advantages that have, up to the time of its partial commencement, been in the exclusive possession of the British packet establishment in that direction. Nor are the freightage and postage moneys the only sources of profit. In proportion to the increase of these facilities will be the extension of trade, and consequently the Government will receive the duties payable upon all foreign merchandise brought into the country. Besides, persons _in transitu_ will leave much money in our cities and along their routes, to say nothing of the porterage and costs of transportation of goods. To benefit our people is to benefit our Government; as the more we enrich the former, the more able are they to contribute to the support of the latter. "To construct ships and keep them in our navy-yards, subject to the injuries of time and casualties, does not consist with the notions of the American people, on the score of economy; nor is it in accordance with received opinions in regard to the propriety of placing excessive patronage in the hands of the General Government. At the same time, it is in perfect unison with the spirit of our free institutions that the arts of peace shall be made tributary to the purposes of defense, and the same energies which extend the commerce and manufactures of our country shall, in the event of necessity, be capable of being made use of for our protection. While the crowned heads of the Old World keep in constant pay vast armies and navies sustained by the heart's blood of the oppressed people, for the protection and preservation of their unhallowed power, it is the proud boast of our country that our soldiers are our citizens, and the sailors, who, in time of peace, spread the canvas of our commercial marine throughout the world, are the men who, in time of war, have heretofore directed, and will continue to direct, our cannon against our foes."