The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-02-23
DlhECl TRADE BETWEEN RICHMOND AND

| We have the following account of a rncert ,nao+
ing held at metropolitan Hall. in the city of Rich
mond Tor the purpose of receiving the REPORT of the
Hon: William Ballard Preston of the results of his
mission 10 Europe IN connection with the proposed
establishment of a line of steamers between the
chesapeake and some port in France.
Dr. Mallory called the meeting to order and
Messrs. Ihos. II. De Witt, David /. Burr and VIM,
r. Munford were appointed Secretaries
The following Railroad Companies. represented at
the BriSt0l convention, were called on and answered
by their delegates; Norfolk and Petersbnrn Sontb
Side; Virginia and Tennessee; Orange and AIey-
aaTnufla; alexandria, Loudom and Hampshire :;
Manassas Gap, and Northeastern and South-wes
term Alabama. "
Mr.. Preston then presented himself and was re-
celved with rapturous applause. He entered into
detail OF the difficulties which had long existed
IN the way OF fixing starting point in the South for
the project of direct trade with Europe He said
that he went to Europe with the conviction that
England was the place in which he would be surest
OF success, and as the place holding out the most adj
Vahtages; but he found that the Cunard line had
engrossed the banking, commercial and Government
support. lie appealed to the American interest in
England, but Mr.. Brown, Of Liverpool and that in
1Grest were engaged in supporting the Collins line
Ihe English, too, were then engaged in f.tinp DR.
Livingstone, because they believed he had fonnd a
region which would relieve them from the odiur of
connection with the Southern States. They were
too absorbed in the question of the Indian mutiny.
lie then went to France, and found the Emperor en-
gagged in following out the idea of his uncIa Of
looking for colonies, commerce and ships Mr.
Preston then described the announcement which
the Emperor giving to French lines , ,tr;n,n1s
to New ork, the West India Islands and Rro.I
He described his business interviews with the o.
leans Railway Company, whose capital was 500 600
Voo OF francs, and whose stock was in a most pros
porous conditions. Mr.. Preston exhibited mans to
show the great tract of French Territory which
the Orleans Company's railroads traversed and also
produced plan of the docks at St Nazarre the
proposed port on the French side After a long,
most pD1nnnt nd statn ,o,l;l-
contract, the principal features of which are.
That the number of vessels shall be four of 4 ton
age not less than that of the Fulton and Araoo to
make tWenty-four round trips in the year: two of
the ships to be built in France and carry French
colors and two in America to carry American !
colors The capital stock to be three millions one !
halt OF which was to be American and half French
afls 10 be the headquarters Of the Company The
Administrators of the Company to be seven in MN
Der, four French and three American for the first
year, and three French and four American the
second year, and so alternately The American
pranch OF the Company to guarantee Sl25OO per
round trip, as mail contracts and in the event of
the French Company having any subvention Tho
proceeds to be equally divided.
The following resolutions were adopted. rs we'll
aS ToteS OF thanks to James Buchanan. Mr.. Mason
ana thG orleans Company and their Engineer
Resotced, That the thanks of the Convention are .
rendered to the Hon. VIM. Ballard Preston for tba
hdehty, energy, and ability with which he has dis
charged the duties assigned to him by the Rr;stol
Convention, and for the success which is forosboJ
owed from his efforts in behalf of an enternrisa
deeply interesting to Virginia and the whole south
ern States. ''O ''o"'r
Resosred, That the thanks of this Convention are |
due, and are hereby rendered, to His Eycelency
COY. Henry A. Wise, for the valuable and generous
assistance extended by him to Mr. Preston in aid Of
his mission to Europe; and that we take this occa
SION to express our grateful acknowledgements for |
tne zeal and interest manifested by him in the cause
OF internal Improvement, and in advancing the com,
mepclal independence of the State.
Hesoired, That Committee of five be arpointod |
oy the President to memorialize the Legislature for
charter providing for the establishment of direct
service by steamships between Norfolk and ST |
Nazarre, upon the basis of the preliminary Conyen
ton agreed to by the Hon. VIM Ballard Preston
al and Mr.. Salacroup, Chief Engineer of the Orleans
Railroad Company. Guns
Re8ot1ed, That committee of eleven be appontod
by the President to memoriaze Congress toautbor
lze contract with the Steamship COMPANY. pro-
posed to be organized under the auspices of This
Convention, for the transportation of the United
states mail upon the terms indicated in the prelip-
narles which have been approved at this meetinu
Mr. Anderson moved the adoption of the contract
and 1t was carried unanimously
Mr.. Preston promises to enter tofurther details
which he was precluded from giving ON this occa
sion by severe cold.