The Sun.
London, England, 1857-04-29 00:00:00

TILE OCEANIC COPARTNERSHIP.

In a few weeks it is hoped that a combined Bri-
tish and North American squadron may leave these
shores upon such a mission as was never yet .con•
ceived, and that the Terrible, the Niagara, and the
Agamemnon may find themselves in the centre of
the great Atlantic Ocean with the -charge and the
power of coupling the Old and New Worlds toge-
ther. Of the material machinery by which this
extraordinary feat is to be accomplished we have
already given the public some idea, but there are
other circumstances connected with the project
which well deserve notice.

A single glance at the map of the world will ex-
plain the selection of the two points throttgh which
Europe and America are to be brought into con-
tact. Ireland on the one side of the Ocean, and
Newfoundland on the other, lie like outworks of
the continents, and diminish considerably the
breadth of waters otherwise interposed between
them. Across the bed of the Ocean, too, in these
very parts, is to be found a kind of raised bank or
plateau thrown up by the rush of the Gulf Stream,
and on this the telegraphicwires are to be deposited.
No conditions, in short, could appear more fivour-
able, more opportune, or more publicly available,
and yet it actually happened that the power of
bargaining for the use of them was lodged in the
hands of a commercial company. The fact is, that
a monopoly had been granted of telegraphic.com-
munisation across the island of Newfoundland.
As long ago as 1,852 exclu.ive privileges of this
description were conferred upon an association
established for the purposes above mentioned, and
the monopoly, after various modifications and
transfers, became vested at last in a company enjoy-
ing exclusiva right of tele-
ginrgapfmornga tfrerommoofnye
esa::ase of Newfoundland to the

and indeed of establishing any telegraph in
the island at all. A ccordingly the Atlantic Telegraph
Company, alter conquering the ocean, might have
fo an invincible barrier at the very point where
tile difficulties of the enterprise would have been
supposed to cease. The Newfoundland Company
were in possession of the last few miles of the dis-
tance, and were therefore as completely masters of
the whole course as a railway company would be
which c`oromanded the terminus and the ball-dozen
nearest miles of a rival line. The fact would have
been of less importance if other parts of the
-ft American coast had been accessible at no further
Icost than that' of some additional miles of wire ;
but it seems to be doubted, in the present state of
information on the subject, whether any Transat-
lantic communication can be established except
through t owe point or other of that territory which
the Newfoundland monopoly embraces.
Ultimately, therefore, these privileges, though at
first perhaps appearing insignificant, have exerted
aninfluence over the whole arrangements of this
most important international enterprise. The
Newf
'Lindland Company makes terms with the
Atlantic Company, the Atlantic Company makes
terms with the British Government, and, if it
should really be found that no other point of
American territory can be reached by oceanic
wires, the communication between two mighty con-
tinents of the world will have depended upon the
modification or purchase of a small commercial
monopoly. At present we believe the conditions
arranged provide for the accommodation of the
public at reasonable rates. The Atlantic Company
acquire the benefit of the exclusive privileges exist-
ing in Newfoundland, and make arrangements for
the transmission of messagei over the whole course
of the combined Telegraphs. The British Govern-
ment is to have the power of fixing the rates to be
charged for communications, and to enjoy a pre-
ferential right of using the Telegraph, a similar
privilege being allowable to the United States'
Government on the other side. In return for these
powers of control, Government first aids the un-
dertaking with ships in the work of laying down
the cable, and then provides a pecuniery guarantee.
The company is to receive the sum of 14,0001. per
annum, constituting a return of 4 per cent. upon
its capital, until the net profits shall amount to 6
per cent., after which 10,0001.
per annum is to be
paid for 25 years. This payment, however, is to
cover, as far as it goes,. the charges incurred by
Government communications ; the excess, if any,
of such charges over the amount of the guarantee
being receiVable also.
Under the existing circumstances of the mono-
poly, perhaps these arrangements were as good as