The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1866-03-08
Telegraph MonopoIies-Rights and
Interests Ofthe Pnblic-The south
eTn TeIegraph Company.

- =
ern Telegraph Company.
A profound thinker and able P9ltica
philosopher, writing on the subject Of cor
p0rations, says a Louisville contemporary
has said that associsted capitol would create
"fhe dynasties Of republics" L IS quite
certain that associated espital, incorporated
with erciasiUe rights and franchises, mag
not only form dynasties and arisioeraciest
but by the aggregation aad accumulatiOnO o.
| capital acquire poteutisl influence over the
| legislation Of States and nations, securing
ezclasipc franchises, absorbing by ~m0aoPo,ies
the rights and privileges belonging equally
to every citizen, and finally endargert the
liberties Of the people. The Concentration
Of aggregated capital, even where it does
not secure erclusiUe rights by legislation, il
effect setting through 3 corp ration becomes
a monopoly, and is equally harmful and in
j~u.ious. The recent combination or con-
solidation Of the several telegraph coDpa-
nieB, Of which we have had notice in our
telegraph columns, is an exemplifeation Of
this concentration Of great capital under a
single director, which gives power to ex
tort from the people, and renders the con-
solidated corporation powerful for harm.
It is reported that the Western Union
Telegraph Company and United States
Telegraph Company have consolidated and
formed one company, controlling the whose
lines Of telegraph north Of the Ohio from
the Atlantic 10 the Pacific, with a capital of
thirty-fve millions Of dollars, aud the
American Telegraph Company aud the
Southwestern Telegraph Company have also
consolidated into one company, With a cap
ital Of ten millions Of dollars, reach ng
from Halifax to New Orleans, and spread
ing over all the United States. We have
now only two telegraph companies, with
power each Of itself within the territory it
oceapies 10 fix its own rates and exact its
W prices. Telegraphing is in some sense
a luxury, and in q better and more import
ant sense it is q necessary business OF life,
and should not be subject to the control Of
one or two sets of directors, who look only
to it as a means TO make, extract or extort
money from the people. it should be reg
ulated by fair and just rates, yielding far
profits on economical cost, and not at ex-
tortionate rates fixed to pay large divi-
dends on capitals Of many millions, watered
hundreds Of per cents. above its real cost or
value.
The whole people of the country are in
teres.ed in having communication by tele-
graph at fair and just rates. It is under
stood the United States Telegraph was got
ten up as a competing line, to put down the
exorbitant tolls and reduce them to fair
and reasonable rates. We are assured that
this was the object Of our citizens who took
stock in the United States Company. Now
the whole lines East are brought into sub
to a single interest and the business
public and the people cub ct to the extor-
ton Of a grand monopoly. These monopo-
Les, North, East and Southwest, have made
immenso sums cut Of The people by their
extravaganza rates, and paid large and ex-
t~raordnery dividends t. their stockholders.
There is yet one line Of telegraph that is
independent Of the influence Of these two
existing great monopolies. "The Insulated
Telegraph Company" has extended its lines
from Boston, via New York, Philadelphia,
Washington to P~ittsburg, and is unfolding
its extension westward from Plttsburg ria
Cincinnati to Louisville. "The Southern
Telegraph Company" Just organized, OF
which we gave notice a few days ago, viii
take up the line at this place and extend it
through to New Orleans and to all the I'M
centers OF business and trade
throughout the Southern States. THE
Southern Telegraph Company" viii ON
mence the construction Of their lines in a
days, and from reliable information we
assured in a few weeks will give our
city an independent line to Nashville, and
by fall complete it to New Orleans.
". trust that our citizens viii give their
to the enterprise, and aid to furnish
necessary means 10 complete it, and
good men will always be found who
VIII control it with reference to the interest
and rights Of the people as well as of the
stockholders. There cannot be a doubt that
the stock in this company will prove a de-
investment and yield fair dividends
extorting unreasonable rates for tel
egraphing. 1t is believed by men fully ac-
quainted with the subject, that it will pay
large dividends, if it should be "watered"
as other companies' stock, and this, too, by
charging fair aud just rates for telegraph
ing. We hope to see the Southern Tele-
graph Company construct their lines all
over the Southern States, and trust they
will achieve and merit success, without re-
to extravagant tolls and rates. We
believe it is the interest Of the citizens of
this city, and Of Nashville, Memphis, Mo-
bile, New Or eaAs, and all other points
South, TO aid and encourage the construc-
ton of the lines of the Southern Telegraph
Company, without any reference to it as a
or a mode of investment. 1t Will in
crease our Geographic facilities, and at the
time reduce the present rates and
cheaper them. By this means the cities
and the people can rid themselves Of the
subsection to Geographic ~m0nopolies.