The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-01-25

made Tor Vice President Will cheerfully yield my
opinions.
For the Union
Steamships for the Pacihc.--The Rival Lines
In the Union" ofhe 22d inst observed communca.
ton signed by W. G. Snehen, recommending to the
sdeaton of Congress and the public the project of A.
W. Thompson. of Philadelphia, for establishing line Of
steamships from point the Pacific coast OF the
United States 10 China.
To my mind there constitutional objections to the
project OF Mr. Thompson, which it will be found 10 be
very difficult 10 get over.
In the first place, Mr. Thompson asks the government
TO loan him sic millions OF dollars enable him TO build
the vessels necessary TO establish the various lines
steamships the Atlantic and Pacific which his scheme
proposes the loan TO be issued in stocks bearing interest
OF six per cent? reimbursabe in yeaIs certain in
salmens, In other words, it asks of the government TO
provide him with money TO construct ships for him to
In the business OF transporting mails, passengers, and
freghts he receiving in the first place. compensation OF
the government for carrying the mails. and, next, fares
and eights Of those who paironze his ships The gou
furnish all the money, and he 10 pocket all
the profits Nay more, the government virtually TO in
his ships. II 10 true his project speaks of taking
curity for the loan. But what security will steamship
furnish after few years of The economy OF such
arrangement on the part OF the government would be
Preposterous, 10 say the least
But the constitutional objection is insurmountable
What would be said If il gravely proposed Con-
gress by some railroad company that The former should
money 10 the latter 10 enable il grade track, lay
down its rails provide its equipment Of engines and cars.
and then pay that company for carrying the mails OF the
government, and permit it, with its road, engines, and
cars carry passengers and freight taking all the profits
TO itself Dor, If Congress should appropriate money for
Mr. Thompson with which to establish line of post
coaches, The pretex of contracting with him to carry
the mails paying him therefor and allowing him to carry
passengers also, for his profit taking security
the horses and carriages for The repayment of the
advanced Would not both of these schemes be clearly
unconstitutional And where is the difference in princi-
pie between these two propositions and his proposition 10
establish line OF steamers on the Pacific
Blu, the friends OF his scheme say, he does ask for
money-he asks only for stocks, the interest which
he is 10 pay. Aye, stocks better than money. II
six millions directly appropriated 10 him in money
that would be all he could get But give him six
millions OF stocks TO ten years and the moment they
should be issued and put in the market, they would be
worth seventeen per cent IN advance. Thus he would
pocket after paying the interest, the snug little oil
SIR hundred and siIty thousand dollars at the very out
set the sale OF his stocks. This would furnish him
capital TO begin with. IL would furnish him with the
means OF paying in e.sxih OF the stock he pro-
poses A shrewd operation il would be, which he
probably thought would escape the vigilance Of members
OF Congress. No compliment TO their intelligence,
certainly
The rival project is that Of James b. Moore, esq, Of
Cincinnati He asks no appropriation from the govern.
To give encouragement to his enterprise he asks
Congress to contract with him certain terms TO carry
the mails The capital for building his ships is 10 be
furnished by the company formed TO carry out his en-
lerprse. They will be built by private mcans, and will
be private property; but they will be subjec, 10 be taken
by the government for public whenever the emer-
gency occurs Mr. Thompson proposes with regard 70
his ships The government furnishes no money 10 build
Them does insure them, and suffers nothing il any oil
them are lost MIR. Moore asks merely compensation
for carrying the mails and that this compensation sha
be continued for a OF years. 1t is precisely upon
the principle that the government contracts with rail
roads and stage propeiors for carrying the mails Where
is the constitutional objection 10 this plan None can be
imagined.
Mr. Moore looks for his compensation. first, TO The
money he earns by carrying the mails second, TO th'
freghls arising from the commerce which he incidentally
creates and third, 10 the increased value OF the Land
which he selects as his points OF departure, and fol
which be pays the government And certainly these arc
legitimate and proper 10 look for the guaranteed
and reward for the risks and uncertainties of his grea
enterprise.
That the teemiag populations OF the vast countries
bordering upon the Pacific and the islands which repos,
in It's bosom, quiekened by the enterprise and eivza
ton OF the AngloAmercan race, 10 be the instru
mens by which, in the lapse OF time vast commerce is
TO be created no who interpret the desnies Of
nations by the signs OF the times for moment doubt
II the United States are wsef her statesmen have III,
genius TO grasp the magnificent prize which The future
holds ouhey will control the vast and immense com.
merce Of which the bosom OF the mighty and majestic
Pacific is TO be the theatre The moment the western
slope OF this continent is connected with Asia by line
Of steamships the commercial supremacy OF the United
States is established We will then be the fret maritime
commercial and political power Of the world Let nc
cavng pgmy spirit ares, this grand climax OF our des
TIMES.
| word as to an objection which have urged
against Mr. Moores plan by some OF the leerwrilers in
this cliy II is that Mcssrs Moore Co. have no, the
means carry their plan II so happens that Messrs
Moore, Lawrence, Goodman Diehl. & Co not alone
in this business II is true that their genius has projected
this grea, enterprise but they have with them associates
whose fortunes and characters ample guarantees OF
the faithful execution Of their undertaking. Among those
associates are Messrs Wnsow, Laner, x Co. bankers
of New York. for whose standing il only necessary TO
refer TO the Hon James Brooks representative from that