The Trinity times., 1855-04-21
Collins VS.. Vanderbilt.

The war Of interests between Collins and
Vanderbilt the two extensive steamboat pro-
prietors. has been transferred from the halls
of Washington to the columns of the New
York press, and is opened by a long letter
from Mr.. Vanderbilt to the editors Of the
n. Y. Tribune. In this letter MIR. Wander
bilt states that the Collins line is not doing 50
poor n business as it represents. lie says;
"By the device Of paying interest upon
stock in lieu of dividends, and by the con
version of accumulated income into the CAPT
tai they have been able TO represent to a
sympathizing and patriotic people that their
business has been disastrous, and that they
have received no diUidends. Contracting,
in 1917, TO build five steamships, and to
make twenty round voyages per annum, for
which they were to receive nineteen thou
sand two hundred and fifty dollars (Sl9,25O)
per voyage they have succeeded in satisfying
their contract by the construction Of but four;
and. since 1852, have been receiving from
the National Treasury the sum Of thirty
three thousand dollars 1888 ,0u0) per voyage,
in leu Of the sum for which the service was
originally contracted to be rendered, and this
for twenty-six voyages in lieu Of twenty"
II is said by the warm advocates Of the
Collins monopoly, that the ships Of the Col
Inns line are the perfection of naval archItec-
ture, and that their speed IS unattanable by
others. Mr. Vanderbilt begs leave to dissent
from this Belief, and announce that be stands
ready to contract with government, and give
security for the performance OF his contract,
to transport the mail from New FORK to
Liverpool twice month"; for the term Of five
years in ships Of equal or superior descrip-
ton to those Of the Collins line and at an
average time Of twenty -four hours less than
the average time in which the ships Of that
line have hitherto performed their voyages,
and to render the service for the sum Of nine
! teen thousand two hundred and fifty dollars
| (Sl9,2jO) per round voyage, or a little more
| than one half the compensation now given to
| Cons. II it were not madness for private
| individual 10 attempt to compete against a
monopoly deriving nuch sttpendous protec-
ton from the treasury, he would even be
willing to undertake the Atlantic mail ser
vice without further compensation than that
| derivable from the established rate Of ocean
! postage Mr.. Vanderbilt defends the Prcsl-
I dent for Lis veto, declares that be did not
! brbe him, and hopes that If any brlbes were
offered in Washington. in connection with
the steamer appropriation blll, they viii be
exposed to tie public. The following is one
Of his concluding paragraphs:
"But it is said that ! am always in opposi-
ton, and that the same spirit Of resistance
which has often hitherto governed my action
/ has Influenced j; now. in answer 70 thi, i'm
putation have only to say, that this is the
same spirit which founded. tbs great Repub-
/ lie, and which is now drawing the commerce
Of the world TO our shores. 1t was he same
spirit which unclaimed Tie fetters which leg
/ aislation similar in principle to that against
which ! now protest. once fastened upon the
Hudson. Rcprcss it if you dare, and before
many centuries shall have passed away, your
/ greatness aud your glory aud your commerce
viii have gone further we-D'