The act of 1857 had so far reduced duties in general that temporary loans had to be made, and this fact gave rise to the preparation of the Morrill bill in 1861. The object of the bill was to ...

under the act of June, to meet the outstanding Treasury notes. Mr. GARNETT, of Va., (Dem.,) considering that the Morrill Tariff bill provides for a loan of $21,000,000 regarded this bill as ...