The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-08-23

| nd
certainty.
Although the weather was unfavorable tho cob1
seems to have been paid out with the greatest rr
gularity, the quantity of cable discharged from the
two ships being the every day within ten
miles On the first two days the amount paid out
by each ship was aboutl30 nautical miles, or at the
rate Of between five and six miles an hour On the
lst of August each ship had paid out 10 nautical
miles at the rate of seven nautical miles an hour.
On the second this rate increased to seven nau-
tica miles and fvc-eighths so that the result seems
to show that a greater speed can be attained with
safety, than has been calculated on. We told
that there good signals between the ships, but,
of course, we wait with much anxiety more precise
information as to the rapidty of communication
that has been maintained.
We sincerely congratulate the promoters of this
great enterprise upon the triumphant success by
which, after many delays and disappontments
they have been rewarded 1t is difficult so sudden
ly to realize the magnitude of the event which has
just taken place; the accomplishment of this mighty
feat comes upon us not in the gradual and tenta-
tive manner in which most scientific exploits have
been performed, but with rapidity worthy of the
agent which it employs. The steam engine, the
other great discovery of our tme has been perfect
ed little by little, and exactly say when
1T was that each of the trumphs which it has sue
cessivev achieved became possible Practice was
so far ahead Of theory that high scientific authori-
ties argued strongly against the possibility of re-
suits, and were not refutcd by counter arguments
but by the accomplishment Of those very results,
the possibility of which they had denied. With the
Atlantic Telegraph it has been Just the contrary
Theory had shown the practica6ility of the ine but
practice Jagged infinitely behindt. Instead of pro-
ceedng by slow degrees, the projectors have leapt
at once to gigantic success.
We believe that are correct in stating that 500
miles OF telegraph have never before been success
| fully laid under water, and yesterday received
intelligence that communication is fully establish
ed beneath 1900 miles of stormy ocean, under Il su-
perincumbent mass of water, the depth OF which
may be calculated in miles. Only now, when it has
| succeeded, are we fully able to realize the magni-
tudp and harIibOOd Of he
what jagged mountain ranges is that slender thread
folded; in what deep oceanic valleys does it rest,
when the flash which carries the thought of man
from one continent to another darts along the wire:
| through what strange and unknown regions among
things uncouth and wild, must it thread its way!
1t brings up tdings from the vast abyss, but not
of the abyss itself, but of men like ourselves who
dwell beyond.
Since the discovery of Columbus nothing has
been done in any degree comparable to the vast en-
largement which has thus been given to the sphere
of human activity. We may that this the
most difficult problem of all has been solved be
justified in anticipating that there is no portion of
the earth's surface which may not be placed in i'm
| mediate communication with We know that
| we have in our hands the means of a practical
ubiquity. Distance ground of uncertainty will
be eliminated from the calculation of the statesman
and the merchant. 1t is no violent presumption to
suppose that within very short period we shall be
able to present to our readers every morning, in
telligence of what happened the day before in
ry quarter of the globe. The Admiralty will know,
| to within lew miles, the position OF every ship
| in her Majesty's service.
The intelligence of Calfre war or an Indian
mutiny will reach us before the first blood that has
been she'd is cold, and we shall be able to economise
| the whole time consumed by the ordinary vehicles
of intelligence. We with not unnatural satsfac-
ton that the advantage of the discovery will be the
greatest to those countries the possessions of which
| are the most remote, and, therefore, that England
has more to gain than any OF her rivals. More
done yesterday for the consolidation of our Empire
than the wisdom of statesmen, the lberality of
our legislature the loyalty of coonist could
| ever have effected. Distance between Canada and
| England is annihilated
| For the purposes of mutual communication and of
good understanding the Atlantic is dried up, and
we become in reality, as well as in wish,
try. Nor any one regaI with indifference the
position in which the Atlantic Telegraph has placed
in regard to the great American republic. 1t has
half undone the Declaration Of lI5 and gone far to
make us once again, in spite OF ourselves, one peo-
pie To the ties OF a common blood, language and
religion, to the intimate association in business and
n complete sympathy on so many subjects, is
! added the faculty OF instantaneous communication,
which must give to all these tendencies to unity an
| intensity which they never before could possess.
We most happy that it has fallen to the lot of
this country to carry out an enterprise in which hui
man nature is deeply interested in concert with
the only other nation the globe in which the fame
of science is famed and kept alive by the breath of
| freedom. Let those who are assembled at Cherbourg
to celebrate another development in the art of de
structiOn and to fee the Inauguration of fortress
avowedy designed to threaten the independence
and prosperity of these islands, reflect on the true
nature Of the enterprise which has thus been exc
ecuted, and turn from the contemplation of science
degraded into the handmaid ofslaughter and dcvas-
taton to science applied to her legitimate office,
as the concator, the benetactress, and the emil ght
ener of the whole human race. 4 military
archy has created Cherbourg; political freedom and
commercial enterprise have made the Atlantic Tel
egraph and they have nothing to blush for in the
comparison.
From tn. Times Cfty Articlel
The Atlantic Telegraph Shares of 81 900 each
which were yesterday offered at f340, Immediately
| advanced this morning, receipt of the telegram
OF success, to nominal quotation of 5000 to $500.
Later in the day it found that holders were cx-
tremely fl m, and the final price GSS0 to f920.
| The first through message from New y ork is
awaited with the utmost interest and most persons
connected with the American trade, sanguine of
the permanent impulse it will give to the commercial
intercourse of the two countries, and the economy
| it will also effect by frequently preventing the
protitless shipment backward and forward of goods
or specie. As the Niagara is announced to be in
Trinity Bay, Newfoundland, the connection with
New York will most likely be established with great
| dispatch.
| The land telegraph through Newfoundland runs
! from St. Johns, skirtng Trinity Bay, to Cape Ray
on the other side of the island thence there is
cable to Ashpce Bay, Breton Island, which connects
! with the lines through Nova Scotia and New Bruins
| wick and the United States system down to New
Orleans. The working of the land line of about $50
miles Newfoundland has not hitherto been
quite satisfactory, but it answers ordinary purposes
and there is an intention ultimately to avoid it by
running a submarine cable from Placentla Bay to
Cape Breton. The financial and general position of
! the Atlantic Telegraph Company appears to be
as follows Their original paid up capital was
$3.50 000 and this has since been increased to f456
OOO an additional &3l 900 having been raised short
time back, and f75 900 in shares having been crea
ted to be handed over in payment for the exclusive
privileges assigned to the company Immediately on
! the successful completion of the undertaking.
Although the amount to participate in dividend is
f456, 900, the capital actually received is 1881 900.
| Out of this the charge for the entire cable has
! been paid with all other expenses, and a small
cash balance is still in hand applicable to the
rent outlay. 1t is understood that the only addi-
tonal capital intended to be raised is the small
that will bring the total to f5O0,OO0, and which
| is required for the stations &C., that remain to be
established The colonial concessions of the COM
pany give them exclusive right for so years
regards the Newfoundland coast and the shores of
Labrador and Prince Edward Island, and twenty
five years regards Breton Island. They have
also a similar privilege for 25years from the State
of Maine.
From the respective Governments of Great Brit
ain and the United States the terms obtained a
payment of fl4,0OO per annum from each for the
r ansmisson of their messages for fifty years. until
the dividends amount to six per cent on the original
capital of $3.50 ,000 after which each Government
is to pay 100000 year, such payment to be de
pendent on the efficient working of the line Pre-
yiously to the failure of the first expedition, which
sailed on the 4th of August 1851 and lost 3S3 miles
of cable the 900 shares touched about 81 $50 or
81 200, and the lowest point has been $500, sale
having been made at that price since the attempt
last june when there additional loss of 4S0
miles. On the present occasion 1T appears that
nearly 500 miles of cable remained, the total paid
out from the two ships, having been only 2,022
miles.
The Liverpool Northern Times of August 6, thus
aIludes to the effect produced in that town by the
news:
THE ATLANTIC TELEGRAPH CABLE.-So little ex-
pected was the intelligence which reached town
yesterday morning, respecting the successful lay
ing the Atlantic Telegraph Cable, and intense
was the feeling of surprise it excited that the ex-
preston of qualification both on Change and
throughout the town generally was much less de-
monstratve than one would suppose such news
calculated to call forth. The announcement at first