The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-06-09
BALTIMORE.
WEDNESDAY, JUNE 9, 1858.

It was supposed in England, up to the time of
the sailing of the Amerea, that if the experimental
trip of the telegraph squadron, which was to have
sailed on the 25th of last month"; proved success
full the Expedition would finally leave the coast of
Ireland on or about the 10th of the present month
tomorrow; would sail in company TO mid-ocean,
and there join the ends of the Cable according to
the programme originally laid down, afterwards
abandoned, but since revived. We may therefore
reasonably hope to hear the result of this import
ant enterprise within three weeks from the present
time. We regard the effort now making as de-
signed to settle the question, if not for ever, vet
for many years to come, of the practicability of
establishing Geographic communication between
Europe and the Continent of America. That
nothing has been left undone which scientific skill
could accomplish towards perfecting the laying of
the Cable, we have the best evidence in the reports
that have continued to reach us from abroad during
the last nine months. Entirely new machinery for
paying out the wire has been substituted for the
old system of drums and brakes Eminent cleo
tricians have been constantly engaged in devisng
the best plans for the prompt transmission of intel
ligence-in testing by variety of experiments the
relative powers of different kinds of electricity.
and the possibility of realizing the important OBJ
ject for which the Cable has been constructed -
SO far as the land tests have been applied, all has
gone well, and it is now conceded that success al
most wholly depends upon deposting the Gable in
its Ocean bed without breaking or alternating the
wires by too severe strain. To effect this also.
the mechanical ingenuity of both countries has
been freely taxed. Besides the new paving-out
machinery, system of buoys to sustain the Cable
and facilitate its recovery in the event of its part
ing is TO undergo thorough trial in the expert
mental trip and every means and appliance that is
calculated to prove useful will be put in reouis-
ton. Notwithstanding all these precautions there
are many eminent men who express grave doubts
as to the ultimate success of the enterprise and
there are really so many contingencies to be guard
ed against, and so many obstacles to be overcome
in novel undertaking of this kind that it carries
with it all the interest of an unsolved problem
In view, therefore, of the boldness of the
project, and the more than ordinary risk
encountered by the Stockholders we regret to learn
that the Judiciary Committee, in Congress, have
found it necessary to recommend the withdrawal
of the annual appropriation of $4,000 by the
Government of the UNITED STATES on the ground,
that the TRANSATLANTIC TELEGRAPH COMPANY shas
changed its charter, and virtually handed the con-
troll of the line to the British Government.
The magnitude of the undertaking, and the Com
mercial revolution which, if successful, it is des
tined to accomplish, gave TO it an international
character and an international interest; but if in
the changes which the act of incorporation has
undergone since the original formation of the
Company, clauses have been introduced. which
sensibly impair the privileges and prerogatves
Jointly acquired by the UNITED STATES and Great
Britain or give to the latter any powers not con-
ceded TO the former, we are certainly justified in
withdrawing the promised subsidy of "7O, 900 per
year. until the net profits of the Company shall
"be equal to dividend of six per cent per annum,
and then, not exceeding $50, 600 per annum for
twenty-five years. We want no connection with
an enterprise that does not place both nations upon
an equal footing, and from the general tenor of
the Special Act of Parliament with reference to the
ATLANTIC TELEGRAPH COMPANY this deSideratum does
not appear to have been accomplished The new
Act OF Parliament provides for the appointment
OF one Director by the Lords Commissioners of the
Treasury, who may, or may not hold stock in the
Company. To this Director instead of a vote. is
given the power to veto any measure adopted or
proposed to he adopted by the Company, which he
may consider inconsistent with the fulflment of
their contracts with the Government or with ind-
viduals. From this veto, the Board may appeal
10 the Lords Commissioners within seven DAYS
and from their decision to the Courts of Law No
new Director can be appointed, or elected member
oil the Board, without the sanction of the Lords
Commissioners but this interdict is not IN onnlv 10
the members constituting the present Board of
Directors, or to any future reelection or appoint
ment of them. The shareholders are empowered
10 increase the capital stock from 350O pounds
sterling to II ,0000 00 at any time they NAV think
proper Priority in the transmission of messages is
to be given to the British Government, until the
American and English subsidies are made of equal
amount. After the expiration of twenty five years,
the British Government may, at any time, assume
possession OF the telegraphs and telegraphic appa
ratus, at all the various stations of the Company,
for the space of one week, and retain the control
from week to week, so long and as often as it
may be deemed expedient for the public service. by
paying the company the same amount of profits as
they had derived from their operations during the
Three months preceding the issue of the first warrant
TO take possession As these provisions inserted into
the charter of the ATLANTIC TELEGRAPH COMPANY
give to England almost the sole control over its
operations it is outright and proper that our Gov
eminent should either cancel its contract with the
Company at once, or claim, by some fair arrange
ment to be placed upon equal footing with Great
Britain.
Crime Baltimore lives tJr;,- a