The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-04-01

Rv one of those nexplicable somersaults, to
which State and local legislators have, of late
vosrs been somewhat curiously addicted, the
iii for LAYING a submarine telegraph cable from
Yarmouth to Cape Ann, which passed the Senate
Of Massachusetts, by vote of l6 to II, on Satur-
dov last, was, on the succeeding Monday recon-
sidered, and defeated by similar vote of l6 to II.
Three of the Senate who originally voted in ia
vor Of the bill were absent at the time of its recon-
sideration, and one other Senator, who had voted
with them subsequently went over TO the oppo-
sition. The Boston Courier intimates that this
change in the action of the Senate was brought
about BY Jealous appeals to the political preju-
dices of its members; but that Journal still
lures to express hope, "out of regard to the
'claims of common sense to say nothing of moral
.motiyes that the result on Monday will not be
spermitted to stand" 1t was certainly not at all
strange that an influential company, like that of
teTbe Associated Press" should make use of every
possible means to defeat what might have proved
a dangerous competition, and for the purpose of
perpetuating a monopoly which gives to certain
parties full control of the earliest European
intelligence; but it could scarcely have
been imagined that such efforts to pre-
vent the organization of rival company,
should have received the sanction of jority
of the State Senate of Massachusetts,. The APP
plica,ion for an act of incorporation was made in
the name of a number of well known merchants
and capitalists of Boston, and it was for them to
Judge whether they were willing to embark their
money in an enterprise which the opposition had
pronounced "a humbug." If a fair and manly
system of competition is, as it has frequently been
proved to be, of essential advantage to the pub
lie at large, we can see no reason why such rival
nv should have been objected to in this instance,
or why legislators, who ought to have nc
personal interest in the matter, should have
decided, first in favor of, and, subsequently,
adversely to the petitioners. They had moth.
ing whatever to do with the nature of the
speculation. 1t might be good, or it might bt
a bad one. In either case it was none of theil
business If it infringed no vested rights; if i
proposed an open and honorable rivalry; if tn,
application for an act of incorporation was made
bv gentlemen who were of good standing in thu
community, and who knew, or believed they
knew, what they were about, and if it wa:
for purpose which promised to be benef
cial to the public, it not the duty
of either branch of the State Legislature t
examine further into the intrinsic merits Of thu
scheme ITSELF or to inquire whether the representa-
tons of its original projectors, MesSrs. OSBORN
and SMITH, were trustworthy or otherwise.
has been charged against The Associated Press tina
It's chief agents, by being in exclusive possessio
of the key to the cypher in which important mes
sages are transmitted, hold in trust power whic
they may be tempted to violate for specuativ
purposes and it was contended that a monopoly
which was even then attempting TO obtain til
entire control over all the inland lines to importan
points, was capable of welding an influence whic
might prove deleterious, and which could only b
kept under effectual restraint by judicious Compel
ton. But apart from all other considerations, it
manifest to the shallowest capacity that where thel
isrivalry in business there is increased activity; tha
prices are lower, and that the public is bette
served. For these reasons, if for none other, it
therefore to be regretted that the Senate of Massa
chusets should have refused to sanction the gran
of corporate powers to Company which aske
nothing of the Legislature but its simple assent
and which prepared to risk its means upon al
honorable and legitimate venture.