American telegraph. [volume] (Washington [D.C.]) 1851-1851, 1851-12-16
TCircular.l
LOHACu1"AsI
WASHINGTON CRY. Dec. 10.

ASHlNGTON CITY, Dec. ~, 1901.
Sir: By the enclosed proceedings of meet
ing held in this city on the Sd instant, it was
made the duty of the undersigned as cem-
mittee to correspond with the several railroad
companies in the United States, and to report
to on adjourned meeting, to be held in this city
on the first Tuesday in March next, to consider
a proposition to petition Congress for change
in the law regulating mail contracts so as to
enable the Post Office Department to deliver to
railroad companies United States five per cent.
coupon bonds, upon permanent contracts for
carrying the mail, to an amount the interest
upon which, at five per cent, would be equal to
the payments to be made under existing laws;
and they therefore respectfully call the atten-
ton of your company to the subject and invite
your co operation. They greatly prefer that
you should send delegates to the adjourned
meeting; for the opinions expressed by con-
vention of practical men, representing so much
wealth, enterprise, and intelligence, will com
mand, as they will deserve, the confidence and
respect of Congress, and thus promote the adop-
tion of such details as may be agreed upon in
convention: but if it should not be convenient
to send delegates, we would ask your company
to submit, through US, your wishes and opin-
ions upon the main proposition, and upon the
details connected Herewith.
1t is well known that many persons are op-
posed to internal improvements by the General
Goyernment-some denying the power of Con-
gress to make appropriations for that object;
others fearing that the exercise of such power
will lead to combinations resulting in partial
and unjust legislation. 1t will be seen that the
proposition under consideration is free from
these objections. 1t asks no appropriation of
money in aid of the construction of railroads.
The contracts will be restricted to the service
which the several railroad companies are in
condition to execute when the payments are
made
1t is true that the proposed modification of
the laws regulating mail contracts will give
similar payments pro rata, as new roads are
made and as old ones are extended, and will so
far increase the credit and resources of railroad
companies. The same effect, although to less
extent, results from existing laws, and surely
it cannot be urged rs valid objection to the
proposed change that it will aid in the exten-
sion of the railroad system. We claim as
merit, that the proposed modification will aid
in extending the system by giving greater value
to railroad investments. Under existing laws
contracts are made for four years and the pay
ments are continucd,oif if not increased ad infini-
tum. Under the proposed modification, the con-
tracts will be made, giving the United States
the perpetual use of railroads; and the rate of
compensation is so reduced that at the end of
thirty three years the payments will cease, and
the Department viii forever thereafter have the
use of such railroad free of all charge
1t is objected that old routes may be super
seded by new ones, and the present service so
diminished as to render it inexpedient to make
permanent contracts at the rates proposed. 1t
has also been objected that railroads now in use
may be discontinued, and that such railroad
companies cannot protect the Department from
loss. We answer these objections by assuming
that the contracts will be made by board ap-
pointed for that purpose, and that no contracts
will be given unless that board be fully satisfied
that mail service adequate to the payments will
be amply secured to the United States.
We desire to obtain the views of your COM
pany upon these and all other matters Of detail,
and respectfully ask of you to furnish us such
statistics as will enable US to submit to the
convention and to Congress statement showing
the comparative increase or diminution, the
case may be, of the mail service performed by
your company-the past and probable future
increase of the weight of mails carried over the
route Of your road. And in this conncxion we
wish to learn what in your opinion will be the
probable increased weight of the nails if news
papers and periodicals are sent free of postage.
We wish you also to state what is the present
current price of your shares, what rate Of disi-
dend does your company now pay, and what
dividend could you pay under contract such
as we propose. .
The committee venture to invite the cooper
alton Of the railroad convention to be held in
New Orleans on the first Monday Of January,
and that the newspapers in the South and West
will urge upon oil those who are interested in
railroads or in the extension of the system q
favorable consideration of the measure pro-
posed, and the necessity ofprotnpt and efficient
cooperation. In behalf of the committee,
DUFF GREEN, Chairman,