The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1859-01-20

At "a late meeting Of the Atlantic Tcle-
graph Company, the directors report show.
ed that the total receipts Of the company
had been i04G-- leaving balance Of
E5iiJ, against which there were various
outstanding liabilities. Free shares TO the
value Of E7j 900 had been issued 10 project
ors in tho purchase Of their original rights
and privileges. The chairman, the Hon.
STUART WoarLgY, made long explanation
OF N" condition OF the cable II bad been
aDderrun for distance Of eleven miles from
Ireland and found perfect. The directors,
for want Of iuyds were unable to carry On
further operations They had applied to
the Government Tor guarantee Of four and
one half pr cent, on $3.50 Of new cspi.
tai, with which 10 construct another cable,
but no decision had been received. lie
urged npon the projectors harmonious aud
energetic action as the only way to insure
success, and moved the adoption Of the di.
rcctors' report, which VAS carried unan-
mousy
Mr.. WmrEuouse, the late electrician of
the company. called attention to the co,ab-
lisbment OF another company for establish
ing Geographic communication with Ameri-
ca 10y meaps Of u southern route. and having
half Of it, capital subscribed lie had been
which fusion of tho two companies nigh,
he effected. Several shareholders suggested
that such measure could not be- entertain.
cd by the meeting, and the chairman said
that pending the negotiations with the
Government, the proposition ought not To
be discussed. Mr.. Wuirsuouss Withdrew
tho subject, and an adjournment until the
general meeting in February was uuani-
mously carried.
The London Times has taken decided
grounds agalns, the memorial Of the ATTAIN.
tic Telegraph Company for Govcrnmeu,
guarantee upon ia new capital. At the
close Of an editorial. it says
Ii il for the Government 90 decide how
far il will assist these schemes. Our own
opinion ia soon stated We wish telegraph
ic communication Nil success, and shall be-
glad To see the earth eucircltd by wires, and
the furthest lands united by an universal
scheme at instantaneous CORRESPONDENCE.
hut The inauguration ot this new era We
would leave cutlruy 10 the action Of private
enterprise, base! on the principles ot free
trade. Tia cable il wanted across ga or
strait, let any company EogIsh. Fecnch or
American full liberty tn lay Il. aud
receive the profits thu, arise. No national
mislrnst would impede the action Of capital
Invested in such schemes Of cosmopolitan
usefulness.
Bat 10 n great system Of guarantees aud
subsidies w. drcHlcdly object There Is. N
deed one exception. The Telegraph 10 la
dia "a smat,rr of iWpcrial policy. That
vast and distant province il inhabited lay
some millions Of suspicious and suspected
Asia,ics, and at any moment political lis.
tutbapc,s may dtmaua the attention ct the
home government No, far from loo, 600
European troops art now employed within
is limits. host OF civil servants are contin.
ually requiring advice or orders, there aro
continually Governors and Generals in douh,
ar dagger. In such case. on grounds
merely OF public policy, the government may
without passing beyond its proper functions
guarantee system of communication hut
tolegrapbs to andirom everywhere ought not
70 be made AT the responsibility of govern.
ment. Ii sub ocranic communication bc
feasible companies Tor the construction oi
lines will find Shareholders without the a.
sistance Of the state. IL the communities
interested are not confident enough IN the
success OF schemr, 20 take up the shares
il had better he abandoned Government
interference will only create monopolics aui
hinder the Development Of the sci,ucr