Northern Times.
Liverpool, Merseyside, England, 1859-06-13 00:00:00

THE ATLANTIC TELEGRAPH.

Tins great and astonishing enterprise is to go on.
Renewed efforts are to be made to give that practical
effect to a principle which will do infinitely mord
.than anything that has yet been attempted, to
exhibit it as one of the great wonders •of that
scientific discovery and application which so re-
markably. distinguish the present age. It was at
first thought astonishing to communicate with the
most distant parts of our own island in the space of
a minute or two, by means of that subtle and
mysterious elemenrwhich is itself the greatest of
philosophical wonders. Then, still more wonderful,
channels of the sea were crossed by it. And now it
is to be made available for communicating between.
those two quarters of the globe which are separated
by thou§ands of miles of ocean. - The possibility, the
pfacticability, of this has already been prOved.
We have had already messages sent and returned
across the vast-Atlantic in little more than " the
twinkling of an eye.". The means, the Machinery,
for doing so,- is still extant—only awaiting that
Completion and improvement of its apparatus which
they knew not, perhaps, the necessity of doing in
,a
first experiment: All that is wanted is the °capital,
which a large further outlay will render indispensa-
ble. And this, -we say, it is now arranged to raise,•
under circumstances which make it more than
probable they will immediately succeed in accom-.
plishing. ,
The proposition determined upon by the Directors
of the Atlantic Telegraph Company for effecting this
important object, was noticed in these columns not
many days ago. Since that time it has been
adopted by the company with very gratifying
unanimity

, and now, we suppose, it is in the act of
securing that further accumulation of pecuniary
resources which are alone wanting, it is confidently
believed, to bring the enterprise to a triumphant
" The problem to be solved," it was' well
ebserved at the meeting for considering the Plan,
" was how they could effect either the resuscitation
of the existing cable, or the creation of a new one."
For the resolution to persevere with the scheme has
never, we believe, for a moment, been given up by
the Board, amid all their difficulties, and they have
been most formidable, and all but: insurmountable.
They have had to encounter the discouragement, too, of
other schemes having been started to carry out their
object. The Government has hesitated -has, in fact,
refused them the most material aid of all, that of
the money itself. It was complained of, at the
meeting; that the Government took a very' narrr
of this enterprise, as one which it was of
national ithportance to foster ; while, it was re-
marked, "in the case of more absolute GovernmentS;
as in France, such enterprises were liberally met, as
in the case of construction of railways, when a
guarantee was- given by the French Government to
the extent of thirty-two, millions of money, for which
they were never called upon to pay one sou." But
they have got, we have no doubt, the best terms
which,, in the present state of the national
exchequer, could, after all, be reasonably expected:
At any rate, as was shown, " the question now is,
not whether this was the best' agreement that could
be obtained; or contained all that they could get ;
but the question was, would it suffice to get the
capital required ? If not, in their present positior
could they get it ?" We are humbly of opinion that
without the aid which the Government have under-
taken to give them, they. would -not easily get the
large additional capital required. And if this be so
where is the chance of rival Companies sueceedinf,
without such aid ? For 'the Government can neve]
divide its favours in such a case as this.
The Company, then, to which the credit is due of
having first entered upon this great international
project, have authorised their Board of Directors
to carry into effect an agreement with her Majesty's
Government on the basis set forth in the report we
noticed a few days since,—namely; that subject to
the passing of the Bill now before Parliament for
such purpose, they are to issue new shares, of the
nominal value of £5 per share in the capital of the
C 01414117, and to a total amount not exceeding