The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-06-11


TITO vicsnos taken before the By
d,erss Of this government. Of Feb 49, 1856
transfer or profitable disposition Of any, very In
considerable portion Of the stock This CONFEDERATION AZ
BY the additional c,cums Of he almost insu.
perab physical obstacles to the Of work.
the REIMBURSEMENT Of all action in reaon to the pro-
ect, and the EXPENSES incurred ~ the Tran It
the hus 1sndsr the Of canal or
IL not absolutely chimerca at least removed beyond ha
Pracsisasiy Of acc npishment within the time limited
sThs Accessory Transit Copp.ny, as already stated,
Ship Canal C,mpspy. Each held its authority from the
government of Ncxrsgus, and each owed similar ale-
nee BY Serss q The State and In return for
tie pre- Of their privileges and the enjoyment Of
which were fulfil uent, for The benefit
Of the STATE The sta had cempstsnt power to grant,
foruarcs Of stipulated ou,iss 1t commonwsaltn,
endowed with The attributes OF sovereignty, and could
iormsrce Of the conditions Of q compact covenant
tered government with individuals CT foreign
Company were limited in their operations within the
boundaries Of Nicaragua over which the jurisdiction OF
therefore, bs.aeen he government and the company Il
which Rem alone, ard the justie or de-
of the action Of he former must DO upon
the proois which i'm pcate latter wanton violations
Of faith and shameless abandonment OF their pledged
TIE cssrter to the Accessory Transit Company in
posed amorg others, the condition OF carrying out the
object OF the ship Canal Company IN relation 70 .ns con
za,ion Of the former company was perfected, ana i1
grant Of powers and privileges conferred fr me
ship canal. The refusal neglect under the original
charter prosecute the work. construed within ths
uIe Of Is privileges than would be the effect Of similar
remnets duty under the substituted charter In this
tended sgsost its nts gritty, and by its own wanton act
emission has forfeited its claim 10 the protesting esis
II this had zen the only transgression committed BY
the company against its lighted responsibilities the re-
lies wi which it has supplied the Isthmus transit,
would derbss have hesitasd before going 70 the s.-
ea,sd enterprises where wealth and power and influence
give testimony of their success, grew naughty And In
it's obligations and mockins defiance Of the sovereign
power which created it. Taking advantage OF the IN
that siernated power and embarrassed authority the
Transit Company hae consulted for Its aston no gaide but
nifty The late revolution, Which resulted in
threw Of the serve and the estabshment OF the LIBERAL
gaen into the conduct and affairs Of this far reach-
ing and wide rpradirg MONOPOLY Unlike antecsdsnx
les Of the s1 ao ss sa: re tS
company upon Its gracious Consideration, and openly 70
Of fragrant violations gifts chartered pryieges
Safed Of The reckless infections Of its obligations to
the State the government has dared to cespse its
promises defy lis and destroy its organized VI
The Legitimate business the Ship Canal C,mp,ny,
wei the Accessory Trans Company, WAS simply
the transportation Of freight and passer gers from ocsan
OCEAN, across the Territory Of Ncarsgoa in the
slreaty designated. Their duties were exslunvsy
confined within the limits OF the State, and the profits Of
enterprise intended wholly to be derived from
The receipts Of the transit transportation between the
government and the original object Of the company, t.
open thoroughfare, not Tor the accommodation Of
ssAs ':i' VII! sss. ss,:s 70
themselves Of its advantages For psriod
exercls Of the company directed 10 . egiim.ts
channel. Its business restricted soely and sxslu
we're conveyed and transporter across
the count frm ocean to ocean, in faithful compiAncs
ocean raasags from either direction, was opsn for
world wide compsiition and passengers and freight By
Of % ssrv - s
mo'sted without preference or partially on the transit
line Of the company It rsysr was ., Contemplated BY
latter should seize upon the ocean tansis aad By ..
arbitrary use e privilege exclude compe ion I'D build
extended TO the r,ute By the travelling public
dlpgy profitable sourss orsyenus and
ged the ambti views Of the prosperous aivsn
urers. The project OF purchasing charteiirg with
the profits cf,heir enterprise line Of steamers
hs in s.
seized upon practicable msans Of fAc ita.ing
their extended aspirations By this arrangement
All her connecting vessels by btary exclusion from
Nicar'gusn ports IN inerdicng them the transporta
ton privileges a:ross the shus, would be necessarily
driven from competition in the passenger and carrying
ade ana the steamers and otter vessels Of the
Nica,ogu.. Accordingly after two years OF legitimate
action the part of The from which realized
auspices Of Cornelius Vanderbilt Of Ne York meporo.
iEso all administration between the ports Of this
TLs pncpo Of exclusion has Sssn T.
ever since that PERIOD and the government hitherto
account Of the P5e:s,isus By which Ia. h..
,GmiesGs mensysd PSwsf By asserting it's rights And
Ocean Steam and Accessory Transit Companies bssn
idenesao blended In and purpose interest ~
doubtless to have crested the conviction the priv
1cree ~ ,1fnoft
esssions contained in the Transit Company's charter.
Ths fragrant abuse OF power this monstrous usurpaon
Of construction could not fail ia compelling govern.
at the earliest ieabe period TO vii. Offend
Notwi.hstsndfEg however, that immense profits have
been realized BY the Accessory Transit Compsny in the
standing ags ptcuniary returos have resulted fem it's
Il lett combination With the ocean steam enterprise 1t
immediate obligations to the republc Of Nicsrseus
Not Only has it failed to construct canal not only has
oS Of the q,s to supply
with the plain and manifest objst and intention Of the
charter IN hsyIg built , nsnsrous monopoly bat
aSquned opuenee, me msgnanimous government to
which owed its origo is wealth Its power and
centy, It's immunity Il wa1a condition Of this charter
that the company should pay aDnuayto the government
gum Of ten thousand collars and ten per the
prohn OF any route that might be established pending
the completion OF the cans. railroad. The f,ss Ob-
gaticn has been reasonably fulsd-doubt!ess because
a condition Of the charter has been stu
dousy and Jstsmacsly disregs-sd Also dis.egarsed
has been the requirement annually furnish report OF
its n0ilitn, faithfully to ac:ount to the for
its receipts and disbursements and nicate for
esly list of all its vessels In the State Tnese mpers
tive ooEei,ioIs lave oil been dsregareed, and the
Temptness Of their fu!fment, by the government At
Distracted by civil was the government was too mld
at tines to solicit performances, although justified in
exAcrg 1t % right The company, shielding themselves
behind the eisasters Of the Stats laughed ct It's predcA-
| mentand exued at their triumph.
Even when the government hiss venursd to remind the
company OF it's Obligations, and ask fair ana friendly
adjustment Of Its claims, the request has been insatngy
etLieo, and the claim Of indebtedness with hAughty
sesum ption repudsted. When Investigation has been
solicited, he most unbecomirg p,eexts lave BEEN
soi ted to for the purpose of eetpg delay and eudinx
respor sibity. At length the matter assumed oonro