Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1857-05-21

In few weeks IL Is hoped thai II combined British
aud American squadron mny leave these shores upon
SUI "a mission rs whS never yet conceived aud TINT
Tie Terrible, the niagara, aud the \ gamemuun, may
hnd themselves in the centre of the greut Atlantic
ocean, with the chprge and the power OF coupling the
old aud new worlds together, OF the material ma
ehncry by which this extraordinary feat il to he at
eompllshed, We have already given the public some
idea, but there He other circumstances connected
with the project, which well deserves notice.
single gnce at the imp Of the world will explain
the selection of the two points through which EUROPE
and America are 10 be brought into contact, Ireland
side Of the occan, and Newfoundland on the
other lie like out~otk7 ot the two continents and
diminish con sdcfnuy the breadth of waters other
wise inletposcd between them. Across the bed II the
ocean; too, in these very parts is TO lie found II
KIND of raised bank or plateau, thrown mp by the
ruth the Gulf Stream. aud on this the Geographic
wires are 10 be deposited. No conditions, ia short
could appear mofc favorable more oppartunc, or
moro publicly available and yet II actually happened
that the power Of bargaining for the use al them was
lodged ia thc hands of il commercial company Tho
t'et Is that monopoly had been granted Of tele.
graphic communication across the island OF New
toundlAnd.
As long ago as 1853. exclusive privileges of this
description were conferred upon m association cs-
iablished Tor the purposes above mentioned aud the
monopoly, after various notifications aud transfers.
became vested at last in company enjoying for IL
term Of years the exclusive right uftrcgraphng from
one side al Newfoundland Ia Tie other, aud indeed of
establishing any telegraph in the island nj pll-Ac~
eordlug, the Atlantic Telegraph Company after con-
qnering the ocean. might have found IA u,nfblc
lffrlrr n The very point where tie difficulties OF the
enterprise would have been supposed TO cease
HE Newfoundland Company were In possession of
The IA.l lev mile al the distance aud therefore
aS completely masters OF the whole course \ rail-
WY company would be which commanded the ter
minus ami the hill dozen nearest miles of - rvlluc
fhe fact would hYc been of less Importance If other
parts OF the American cunst had been accessible ut
IA further cost I'm that of some additional mes of
We but Il soeas to be doubted, in the present
state Of information ON the subject, whether any
Transatlantic communication can he established
eePl through some point or other Of that territory
which the Newfoundland monopoly embraces
Ultimately, therefore, these privileges, though at
hfsi perhaps appearing insignificant have eNcrted an
influence over the whole arrangements Of this most
important international enterprise. The Newfound-
land Company makes terms with the Atlantic Com
pany, the Atlantic Company makes terms with the
british Government, and, It 1t sluuid really be found
TINT no other point of American territory can be
reached b, oceanic wires, the communication be-
tween two mighty continents of the world Will have
depended upon the ~ 6cation purchase of
small commercial monopoly. At present, we be-
hese the conditions arranged provide for the
mediation OF the public nj rcasonpble rates. The
Atlantic Company acquires the benefit of the exclu-
siNe privileges existing in Newfoundland, and makes
arrangements for the transmission of messages over
the whole course of the combined tclegraphs
The British Government is to have the power of
liking the rates 10 be charged for communication and
10 ENJOY preferential right of using the Telegraph
similar privilege being allowable to the Dotted
States Government On the other side, In return for
these powers of CONTROL Government first aids the
undertaking with ships in the work Of laying down
lnc cable, and then provides pecuniary guarantee.
/ Inc company Il Ia receive the sum OF Lli.OOo per
annum, constituting return OF 4 per cent upon its
capital, until the net profits shall amount per
cent, after which tlo,oo0 per onnum Is to be paid
Tor 20 years. This payment, however is to cover ms
| tar as IT goes the charges incurred by Government
communications the excess, il any of such charges
over the amount of the guarantee being receivable
also.
Under the existing circumstances Of the monopoly
perhaps these arrangements good MS could be
made bit the story oilers striking evidence Of the
extent 10 which the greatest enterprise may be eec-
TED by even small iuiractions of sound commercial
principles. MonoPolies are just as great mistakes
now AS IN any former age Of the world. 1t may be
undoubtedly desirable, and in some instances even
HhpefatNely necessary to encourage undertaking
OF hlgh pnbhc utility but dubious commercial pro-
mise ~ the support OF guarantee, but these con
slderaiions contain no warrant for the addition OF
monopoly to boot
In The present instance the exclusive right of tee
graphing across Northumberland privilege to be re-
ghrded, perhaps, with extreme uncouccrn apart from
t'c ceramic extension Of the INTERNATIONALLY governs
tne Transatlantic communication between the two
Continents, and the effects of monopoIy haye IN he
overcome by State guarantee and Government
control. The Government may fix the rate of ,,arge
for the pnoic, and therefore Tor itself but il mus
make up the sum OF its payments to 900 at tho
end OF each year. II may protect the public from
e&tortoa' but only at the COS, of that kind of inter
ference which must he troublesome to itself nnr
which we are not apt to regar as conducive to roof
management.
Finally II contrary to present expectations an,
teegraphtc communication should he found pracl,
eaoie between oar own coasts and points Of the OF,
posite shore not nOyercI nv the lpounaoly Covern
ment may remain ror.mltted 10 an unnecessary an,
kEkrQsucit-c ILnIlIlcn- A. ,hin.s