The southern press., 1852-01-06
(BY aEouEsr.l
From the .amtriean Telegraph.
Circular.

a
SIR BY the enclosed proceedings of "a meet
ing held in this city on the Sd instant, it was
made the duty ofthe 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 pro-
position to petition Congress for change in the
law regulating mail contracts, so as to enable
the Post otfire Department to deliver to railroad
companies United States five per cent. coupon
oonds, upon permanent contracts for carrying
the mails, to an amount The interest upon which,
at five per cent, would be equal to the payments
1 10 be made under existing laws; and they
therefore respectfully call The attention of your
company to the subject, and invite your co-ope-
rltion They greatly prefer that you should
send delegates to the adjourned meeting; for
the opinions expressed by convention Of prac-
tcal men, representing so much wealth. enter.
prise, and intelligence, will command, as they
will deserve the confidence and respect of Con-
gress, and thus promote the adoption of such
details as may be agreed upon in convention !;
but il it should not be convenient to send dele
gates, we would ask your company to submit,
through ns, your wishes and opinions upon the
main proposition, and upon the details connected
| ted Herewith.
| 1t is well known that many persons are OPP
posed to internal improvements by the general
government--some denying the power of Con-
gress to make appropriations for that object !;
others fearing that the exercise Of such power
would lead to combinations resulting in partial
and urjust legislation. 1t will be seen that the
proposition uLder 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
/ IA q
dton to execute when the payments are made.
lis 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 extended, and will so 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 valid objection to the proposed
change that it will aid in the extension Of the
railroad system. We claim as a merit that the
proposed modification will aid in extending the
system, by giving greater value to railroad in
vestments Under existing laws, contracts are
made for four years, and the payments are con-
tinued, if not increased ad infaitttm Under the
proposed modification the contracts 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
|
ment 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 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 mali service adequate TO the payments will
be amply secured to the United States
! We desire to obtain the views Of your CON-
! pany upon these and all ether matters of detail,
and respectfully ask OF you to furnish US such
statistics rs will enable us to submit to the con-
vention and TO Congress a statement showing
the comparative increase or dininution, as the
case may be, of the mail service performed by
your company--the past, and probable future
increase Of the weight Of male carried over the
ronte Of your road And in this connexion we
wish to learn what, in your opinion, will be the
] probable increased weight OF the mails, ifnews-
papers and periodicals are sent free Of postage.
We wish you also 10 state what is the pres
emf current price of your shares, what rate of
dividend does your company now pay, and what
dividend could you ay under contract such
ai we propose
The committee venture TO invite the cooper
alton of the railroad convention to be held in
New Orleans on the first Mcrday 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 a
favorable consideration Of the measure proposed,
and the necessity of prompt and efficient CO.
operation In behalf of the committee.
DUFF GREEN, Chairman.