, 1857-10-30
Governmental Aid 10 the Atlantic TeIe-
graph Company.


! The Governments of Great Britain, Uni
ted States, Canada, New Foundland Prime
Edwards Island, and the State of Maine
have each, and all given their aid and us
sistance to the great enterprise of connect
ing tho Old and New World, by tele
graphic cable Great Britain has granted
an annual subsidy of Gl4, 1000 until the ne
profit Of the Company reaches six per cent
per annum, on the whole capital Of G350,
600. The grant to then be increased tC
GlO, 900 per annum for period Of twenty
five years.
The United States annual subsidy Of $40,
600 until the nett profits yield six per cent
per annum, then to be reduced to $50, ,00O
per annum for period Of twenty-five years,
subject to termination by Congress after
ten years, on giving one years notice.
New Foundland grants to the Company
the exclusive privileges for fifty years, oi
landing cables in New Foundland, Labra.
dor aud its dependencies. That Govern.
ment also grants to the Company fifty
square miles of land, when the telegraph i
completed to Cape Breton, and an add
tional fifty square miles when the cable shall
be laid between ireland and New Found
land, Interest at five per cent. on ESQ,
900 is also guaranteed for twenty years.
Five thousand pounds sterling is appropria,
ted for building roads along the line Of the
telegraph in that province, and all the wires
and materials for the use of the Company
is to come in duty free.
By act, Canada authorizes the building
photographic lines by this Company through
the province, and also RENTS the duties on
all materials imported for this company
From Prince Edwards Island the Compa.
ny has an exclusive privilege to land cable
for term of fifty years. This is accompa-
MED with gift Of FIVE thousand acres oi
land, and G300 per anuum Novia Scotia
and Maine have each granted this Compa-
ny the exclusive right to land cable on their
shores for tho period Of twenty-five years.
That the enterprise, which has recently
received temporary check by the break
ing Of the cable when three hundred miles
from the shores of Ireland will be perse.
vered in until successfully accomplished
there can be no question. 1t is simply O
point Of time. The means at the command
Of the company, and the guarantees which
the companies have received, ore, in the
opinion Of those most competent to Judge
Of more value than the whole capital In
vested in the manufacture Of the cable. As
the laying of the cable is to be performed
entirely by and at the expense Of the gov
ernments Of the United States and Great
Britain, Of course no part Of the capital Of
the company will be touched for that pur-
pose. The different companies engaged in
the enterprise will thus be left with the
means placed at their disposal to be expen.
ded for liquidating the debt incurred for
manufacturing the cable itself, and paying
such other expenses as will be necessary 10
order to put the line in operation, when
once the cable is stretched from the shores
of ireland to those Of New Foundland!-
These are most encouraging facts, and we
point 10 them as proving conclusively that
the Atlantic Telegraph Company is in such
a condition as to make the completion oI
the mighty enterprise commenced a matter
Of certainty.