Daily American telegraph., 1852-02-21
TCircular.-

or some one else to represent them.
[Circular.1
WASHINGTON Cry, Dec. 10, 1851.
SIR By the enclosed proceedings of q meet
ing held in this city on the Sd instant, it was
made the duty of the undersigned as a commit
tee to correspond with the several railroad COM
panies in the United States, and to report to an
adjourned meeting, to be held in this city on the
first Tuesday in March next, to consider prop
osition to petition Congress for change in the
law regulating mail contracts, so as to enable the
Post Office Department to deliver to railroad COM
panies United States five per cent. coupon bonds
upon permanent contracts for carrying the mall
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 respect
fully call the attention of your company to the
subject, and invite your cooperation. They
greatly prefer that you should send delegates to
the adjourned meeting; for the opinions expressed
by convention of practical men, representing
so much wealth, enterprise, and intelligence, will
command, as they will deserve, the confidence and
respect Of Congress, and thus promote the adop
ton of such details Ms 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 opinions
upon the main proposition, and upon the details
connected herewith.
1t is well known that many persons are opposed
to internal improvements by the general govern
ment--some denying the power Of Congress to
make appropriations for that object; Others fear
ing that the exercise OF such power would lead
t1 combinations resulting in partial and unjust
legislation. It will be seen that the proposition
under consideration is free from these objections.
Il asks 70 appropriation of r19nc. in aid OF the
construction Of railroads. The contracts will be
restricted TO the service which the several rail
road compaoies are in condition to execute when
the payments are made.
Il is true tha: the proposed modification of the
laws regulating mail contracts will give smpr
payments pro rdtG as new roads are made and as
old ones are extended, and will 50 far increase
the credit and resources OF railroad companies.
The same effect, although to a less extent, re.
suits from existing laws, and surely il cannot be
urged as n valid objection to the proposed change
that it will aid in the extension of the railroad
system We claim 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 payments are continued, if not in
creased ad infnitum. Under the proposed modi-
fcation the contracts will be made, giving the
United States the perpetual use of railroads; and
the rate of compensation is so reduced that, Mt
the end of thirty three years, the payments will
cease, and the department will 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 Mt the rates proposed. 1t
has also been objected that railroads now in use
may be discontinued, and that such railroad COM
panies cannot protect the department from loss.
We answer these objections by assuming that the
contracts will be made by board appointed for
that purpose, and that no contracts will be given
unless that board be fully satisfied that mail SER
vice adequate to the payments will be amply Sc
cured to the United States.
We desire to obtain the views Of your company
upon these and all other matters Of detail and
respectfully ask Of you to furnish us such statis
tics as will enable US to submit to the convention
and to Congress a statement showing the com
parative increase or diminution, as the case may
be- of the mail service performed by your com
pany--the past, and probable future increase Of
the weight Of mails carried over the route of
your road. And in this connexion we wish to
learn what, in your opinion, will be the probable
increased weight of the mails, if newspapers 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 dvi-
dend does your company now pay, and what divi
dend could you pay under contract such MS we
propose.
The committee venture to invite the co-opera.
ton 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 all those who are interested in railroads or
in the extension of the system n favorable con-
sderation of the measure proposed, and the
cessity of prompt and efficient co operation In
behalf Of the committee,
DUFF GREEN, Chairman.
Proceedings Of Meriing held IN Ushingon 9th on DE
m Deceaber, 1851.
At meeting of gentlemen assembled at the request of
Gen Duff Green, consider project for modifyn the ex
sng laws regulating the letting Of mails to railroad
porations-
Cen Norton of Florida chosen president, and Albert
Smith, of Maine secretary.
The meeting was addressed by Gen. Green in explanation
of his proposion after which, dcsultory conversation
held by all the gentlemen present. aud the following
resolution adopted: Il.
ss0ped That committee of five be appointed, with
authority correspond with the several railroad companies
In the United States upon the subject Of an application to
Congress for change in the mode Of compensation for
transporting the mails railroads, and to digest pan to
be submitted 10 meeting to be hereafter convened by the
said committee"
Gen. Duff Green, Mr. Blunt of Florida, Albert Smith OF
Maine. Robert H. daaher and Col fouaine, Of Virginia,
were chosen said committee.
Voted, thatthe meeting be adjourned.
ALBERT SMITH, Secretary