The daily union. [volume] (Washington [D.C.]) 1845-1857, 1852-05-21

$50 worth Is the amount have head satedbeiore
That being the ease they certainly have not been over
paid thus lar, IL presume they bought par but
do their bu ia such way be Obliged the
vesy commencement Of their enterprse pay people in
salaries can he looked upon 40 other highland 10
saddle the stockholder with the expense" .It.
These facts need no comment TO answer The purpose
tor which have introduced them. They show the true
character OF this company and put the seal OF coDdem
naon beyond escape upon all their operations They
without capital. and have conducted them
selves throughout wild and reckless SPECTATORS upon
individual credit aud ereduy, and upon the faith OF this
government.
My honorable friend from Kentucky [Mr. UNDER
wooDl will ind in these statements have read some
thing like a solution OF the questions which puzzled
even his arithmetic the other day. When he made
his calculations them suppose he estimated the pay
ments TO be ~ cash. and therefore put all The items down
al the standard OF cash valuation. He did not then
know that those payments made in stocks dsprecia
ted to MY cents the dollar SO, IL he was puzzled
his arithmetic then, because its relentless rules would
not carry the legitimate amount OF expense up TO the
enormous sum down by the company, | apprehend
that the straightforward honesty OF his mind will be
more amazed al the OF the difficulty than be
puzzled thea al the difficulty itself Now, sr,
practical questions 10 practical man, ask my friend
from Kentucky what would be thought OF company IN
his State who should engage in business no matter how
legitimate and promising in itself upon capital two
thirds of which borrowed at interest and them
the prosecution OF that business, should undertake to
pay all its expenses by selling lis paper ia the mar
ket al my csats hts dotlr2 How long could such
company sell It's paper at all How long could IT
obtain credit at all Would any sensible among
his constituents take stock in such company, or
become in any way connected with it! Would not the
undivided sentiment OF the community be that there
ridiculous folly or deep knavery at the bottom OF the
whole concern, Well, sir, 1t seems TO this Is
in point. II there be any material difference between
them, in practical point OF view. am unable to per-
ceive or appreciate It, Bot II IS said, am aware, that
and few others here do take abroad, statesmanke
national views" OF such questions this and brust
shall, if in doing in this case must repu
dae my principles and the common sense which the God
of my creation has endowed me with.
But this extraordinary cause OF increased expend
ure for two months trip, as set forth IN the pa
per have read. does not carry the amount up 10 the
$650o0, slated by the company; but makes only
1885, although this estimates for the Collins roll
700, while the Cunard is but $1,000, tor the Collins
coal bill $4,000, while the Cunard but ~ 500 and
for the Collins Insurance, depreciation and repairs $685.
333, while the Cunard is but Sl6,666-tota Collins
$i2333toal Cunard 29, 066. Here is an excess yet OF
Sl3267 per trip TO be accounted for Perhaps soma light
may be thrown upon this il any will
certain nferrogatories which will here PROFOUND Per-
haps ii the senator IRON New Jersey lMr. MILLER were
here, he might from the familiarity with the subject he
evinced by his speech weeks ago; any rate
have doubt that The senator from New YORK MIR
SEWARD could furnish answer from that rich
budget OF facts with which he seemed prepared the other
day. and OF which he gave glimpse 80 curious Bot
whether can have them answered here or not, Will
PROFOUND them, and then put them IN my printed
speech, that one else may answer them for the
information OF the country, il not OF the Senate. We
want light. Here the n,errogaiorIes:
l. Who are the shareholders in the company owning
the Collins line OF steamers, and where do they
reside
D. What commission is charged by Brown & Brothers,
the British agents. per voyage or per annum Tor their
services to this line!
g. What extra prices above the current market prices
paid for disbursements, provisions. and outfits al
Liverpool!
T. Wha, commissions are charged by Collins at Ne
York for his services TO the line
5. Do not the expenses these accounts amount To
more than 3d. ainpa
g. Is not this line morgaged to member OF the British
Where the assurances effected and at what rates
Where is the coal purchased, and al what prices What
the difference between those prices and the prices paid
by the Cunard line Where the officers and
employed, and they paid at American English
prices, and what is the difference
Then there few questions asked the senator
from New York Mr. SEWARD the other day in debate,
which be has answered, and which | will now
peat hope be or some other competent person will an
them al their convenience. The senator then SAID
that
steamships. valued $500
a. ass per cent cen do IN E.sans q v;a
s7oo 600 at SIX per cent? o
line 1000
Making against the Collins line los 900
"The rate OF wages for persons poyed p.
ains engineers, and common seamen Is about ons-thrd
higher in this country than IN England"
copy this from his printed speech When he made it,
asked him il ! heard Alright, and i that statement
could be true | asked him If il could be true OF two
companies each running line of ships of the char
acer upon the same ocean 10 and from the ports
engaged in the kind OF misunderstanding access to
the markets for similar Materials labor, supplies,
money, and insurance-that ~ anywse COM
PEELED TO pay, dad, actually, pay double or even
third the rates and prices that the other paid upon
ALL or any of those items, he had set it forth
asked the questions in good faiths for the statement
struck extraordinary, that was not sure heard
the senator correctly He did not then bur
be has put the statement in print take that az
his Let my questions and this answer go to The
public together. submit II to the practical sense OF men
OF business that the senator's statement, be true, that
Collins Co do pay these excessive prices, when lower
their option, their business u either grossly
mismanaged for want of want OF honesty.
Conpeis with the British, indeed AT such rate, and
by such system, cannot pay them money enough to
enable them compete. We might enable them 10
but would be at the expense OF both the interest and hon
or OF the country II would be competition but mis-
cradle scramble for premium upon incompeency
ruption do not believe word OF II And most as
suredly will counienance sustain such state
Of things, il il be true by any vote OF mine,
Again: We are told that must sustain this Collins
ne beeIse the BRUSH government sustains the Cunard
hne. Even a general proposition, do not admit THIS
10 be true But viii not discuss that further than have
done ia another portion OF my remarks Admitting Il,
however, for the Argument though IN fact yet deny
that such consideration gives any force or validity to
the claim Tor this increased allowance, made BY the
Collins line. II is fact beyond dispute that in this mat
ter OF following the example of the British government,
and giving large compensation 10 our steamers becasse
she gives large compensation hers not only
behind but we have already erceed>d her, in the OF
compensation allowed We already pay Collins several
thousand dollars per trip than Great Britain pays
Cnnard for similar service Thus pay Collins Sl9 000
while Cunard receives from his government but $4,000
the in favor of Collins being $4,000 per Trip,
896 900 per annum.