Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1852-05-14

rope occupies the attention of Congress and Incl
dentaly that of the country at large. The Collins
line was started under definite contract with the
Government and, SO far as the Government is
oerned that contract has been fulfilled The pro-
prietors come before Congress, and ask to have
their compensation increased to than twice the
amount stipulated in their voluntary contract
with Government. We have, therefore, said that
the question their application amounts simply to
whether the country shall make gift to the Collins
Company, to enable them to carry business
which they have either grossly miscalculated. or
miserably msmanaged. if we believe their story of
losses and if do believe their story of
all action upon the subject should be at an end
National pride and honor appealed to in be-
half of the Collins line. 1t is claimed that the ships
have entered into successful competition with the
British Cunard line and that the American ships
have triumphed in the encounter. Now, we regret
to say, that far the Collins steamers are con-
cerned, such is not the case and this is proved
clusively by their acknowledgment ofbankrupt-
cy and inability to fulfil their contract without aid
charity from Government
Steam navigation is simply commercial matter
and like such matters resolves itself eventually in
to dollars and cents. If success in this important
particular be wanting, the most essential element is
absent. Price is much to be looked at as quality
1t is not enough for that the Collins steamers
should be able to compete in speed with their Brit
ish riyals-t is also necessary in commercial point
of view that they should be able to do this on near
ly the same terms-at nearly the same expense. But
this has not been done. Indeed. the much greater
expense of running the Collins steamers is pressed
upon Congress as reason why an additional COM
pensation should be given them in order to enable
them to continue the competition with the British
line.
We publish paper-say Weekly 50 50-Daily
So 1t is quite probable, that rather larger paper
could be got out at, say 81 and SO per annum if
anybody would pay that price; if company
would make up the difference to the publishers
But this would not be a fair business competition
Such could only exist upon equal terms. Now, the
Collins steamers were built fully one half larger,
and more powerful, than the Cunarders. They made
swfter runs, and they cost twice as much money
The result was. that one speculation-the Cunard
one, was successful. and made money; the other
the Collins one. lost it.
Fair competition, without undue bostering or un-
just monopoly, is essential to the building up of any
legitimate commerce. As long as company like
the Collins line can implore Congress to foot up the
bill for its mistakes and mismana gements so long
will mistakes and mismanagements be the order OF
the day.
Perhaps, matters stand, some temporary assis-
lance should be given to these steamers-but it
should be only temporary. 1t should end at spe-
CITED day, and so should the system. Trade is val
liable for the employment it gives and the profits il
produces. What value would our shipping business
be to US if we did not make cent by it? Or how
long would men engage in it if they lost money eve
ry voyage! And yet the Collins line is a specula
ton of that sort. 1t loses some fifteen to seventeen
thousand dollars per trip. 1t asks the country tc
shoulder that loss in order to foster our mercantile
steam marine Of what value to the country nigh
we ask is mercantile steam marine kept in opera
ton at loss of half its expenses? Rather less thar
none at all should think; and yet such will b.
the state of things so long as overgrown companies
can drain Congress out of money ad Hbitum, in thu
name of national honor Fair and free compe titon
an open field and no favors, are the only judciou
maxims in the end.
EEThe Collins Line consists of four Steamers
the Atlantic, Arctic Baltic and Pacific If the eff
fort for the relief of Collins beng made in Con
succeeds, these steamers will receive cS5S co.