The national era. [volume] (Washington [D.C.]) 1847-1860, 1852-05-20
l6,92S7g

And an aggregate loss annually of 1898 57i.l0
They further show that capital of three
millions invested has paid no dividends, and
been reduced by inevitable losses to a little
more than two and half millions that their
stock is sold in Wall street at fifty cents on II
dollar and that, even if they would, yet they
cannot despatch another ship or mail after the
| 18th of May next. Something must be allow
ed, if not for profits, at least for renovation
and 40 the actual loss on each voyage being in
round numbers Sl7 900 it is quite certain that
an increase of not less than SI9, 900 is necessa-
ry to keep the steamers in vigorous and sure
operation.
| All questions of the fairness of this showing
are precluded by the offer of the contractors
to renquish the enterprise to the United States,
or to any assignee indicated by them, after the
contract shall have been remodelled and by
the neglect of any other party to propose for II
new contract even on the terms thus recon-
mended
| SO, the Increase of compensation solicited is
just and reasonable and is moreover, like the
increase of the mail service necessary and in
dlspensable.
Now, sir, we have arrived Mt the very ques-
ton of the whole question. We must do just
what is thus proposed or relinqush the con-
tract altogether.
The honorable Chairman of the Committee
on Finance Mr.. HUNTER, dissenting from his
associates advises that alternative. Sir, with
a profound respect for that distinguished Sen
ator, not now for the first time nor for mere eff
feet expressed, must have his pardon, never
thelesS for preferring the authority Of his as
soclates Extreme caution is apt to be the
fruit of the patient and patriotic labOrs of his
oihcc. An appropriation bill seldom has pass
ed this House without calling forth from him
or his predecessors eloquent yet groundless
alarms OF an exhaused treasury, and of i'm
pending taxation, il not bankruptcy
While we cannot, without wounding the ma
uonal Sensibllities and impairing the national
character, abandon any great enterprise, it is
equally true that INDIGESTION is among the worst
wees oil the statesman, and that vacillaton in
the conduct OF public affairs is fruitful of ma
uonal generalization and indicative of certain
national decline. Persistence when practical
bie, ih"gorates national energies, discourages
foreign rivalry, and prevents foreign insult and
aggreSs'"''' Compare France enlightened,
vigorous ana energetic. but unstable MS water
WIN England cautious constant and perse-
'erlng or even with Russia, unimpassioned and
| Wv WIN DtG eyes uteWprN-
lngly and forever fixed ON Stanboul and Won
have an apt illustration of my moral Never
theess, these general observations are incon.
elusive, and grapple therefore cheerinlly with
tins great question.
If tins enterprise must be abandoned il must
be for one of two reasons, namely either be-
cause
I. tcaS enormously conferred or beeaus,
?. has been rendered unnecessary unp,a. or
rmprnct'edbie, by subsequent erentS and circum.
| stances
/. Vas erroneoudy eoneeiredl To deter.
mine this question, we need TO ascend some
high emnence Of time, from which we can
look back along the past, and pierce, as far as
Is allowed To human vision through the clouds
and darkness that rest upon the future Come
then, Senators, and suppose that you stand
with me in the galleries of n. Stephens
Chapel, on a day so long gone by us the 22d
Of March, l775. mighty debate has been
going on here in this august Legislature of the
British Empire. Insurrecton against CONNER
cial restriction has broken out in the distant
American colonies; u seditous assembly in
Philadelphia has organized it and brave,
patient unimpassioned and not untried, soldier