Arkansas true Democrat., 1858-09-01
From the Nashville Banner. of August II Gen. Zollicoffers Speech.

In hls speech at the capitol on Saturday nigb Hen- Zoll'coffer said he had not expected to he called upon for speech. He had come more " as spectator attracted by the crowd and the splendid lire works which they had witness ed. Hls feelings were perhaps not so iubilant as those ot vast majority of those present. If that which the telegraph tells us is true--tbat the great Atlantic cable three thousand miles long, has been laid at the bottom of the ocaop connecting Europe with America permanentIv and lnstantaneously y by lightning line of intol' Iigence It Is a magnificent achievement of science and enterptise--the commencemort of a new era in the physical world. the results of winch are moment0us to our great countrv
 But whether these results are to be hane6cioI or banetul to our commercial interests romoins to be determined, and he confessed that be folt distrustful and uncertain.
 As success Of science and enterprise he heartily rejolced in it. And every Amaricon citizen should do so, because the succoss v.as strictly American. The mind which conceived the idea, the science which elucidated its nroc+; cabltty, and the enterprise which put it into execution, were all American. Morse who invented the electric telegraph; Maurv who wrought, silently in his observatory in tba graot work of his winds and currents, vision of tho "telegraphic " plateau'' at the bottom of inc ocean; Berryman, who made the deep sea sound-
 ngs, verifying that discovery. and Peter Cooner rleld and others, capitalists. who put the orand enterprise on foot, are all Americans The Aruc, United States screw steamer. gave the first government aid to the great achievement But It really seems that. after all the Rr;,;sb lion has lad his paw upon the property of the whole concern. The lands at both ends of tbe cable is British soil. The cable appears to he owned in chief by British capitalists; and the law which regulates its action, is framed hv the British Parliament for the ascendancy of British interests.
 He had felt lively interest, from the begin. ming m this enterprise; and he begged leave to to state, frankly. what he had observed. and his reflections upon the facts before the country. that IS when the American projectors had satis lied themselves that telegraphic cable might successfully be laid from the coast of New Foundland to that of Ireland had secured to be taken, a large majority of the stock supposed to be necessary, they went to England Gin l956) and made contract with the Bnti-h govern. ment-to the effect that, if the government of the United States would comply with similar cohdltons, the British government would en- gage to furnish of the aid ships in takino sound- itSs ana laying the cable, and from the time of the cohpienon of the line, pay S7OOOO a year as rem huheratlon for transmitting government dispatches, until the net profit of the omnanv equaiieo Q per cent per annum upon the capital invested-(the capital being fixed at e1 75o OOO)-and then S50O0O year for twenty fl va years; the governments of Great Britain and the United States to have priority (and to be placed upon an equal footng) in the conveyance of their messages, over all others.
 Those gentlemen then returned to Washiro. ton, in the winter of 1856-'71 and laid before the American Congress a communication from the Lords commissioners of the treasury of Great Brtian, disclosing these facts. and asking that the United States would agree to the same conditions, and enjoy an equality of benefits with the British government. A struggle ensued over the proposition in Congress. and he exerted himself for success He secured an amend ment to the bill guaranteeing to all citizens of the United States equality of rights in the use of the Atlantic cable and the lines of telegraph connecting with it. with the subject of Great Britian, and among themselves This was in- tended to protect he great planting interests- The bill became a law, and the government of the United States has subscribed its s7OOO0 year, and sent its ships to lay the cable; upon the condition that it is to enjoy an equality of privilege with the government of Great Britain in the transmission of its dispatches over the line.
 But recently it appears that the British Par lament has taken the matter in hand, and pass ed an act increasing the capital stock to S5OO0,- oO0 giving single director, to be appointed by the Lords commissioners of the British treasury, a veto power upon every act of the company, giving to the British government an absolute priority of right over all others provided that the company may, in their discretion confer a like priority upon the government ofthe United States, subject to the veto power of the British government director, or to any change of pur- pose by the directors of the company Here is a stupendous breaking of faith, and what does it portend? He presumed it would appear that the increased stock had been secured by shrewd British capitalists. that they might elect and control the directory, and as nearly two thirds of our whole exports are purchased in the British possessions, England alone taking about 25,OOO,OOO worth of single article-our cotton-it was fair to presume that those shrewd capitalists would make this stock "pay," not merely in dividends. but in giving them inest- mable advantages in our market. What would few hours the start in information be worth to