The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-11-17

IL need not, however, be overlooked. since the
l memories OF that period have been thus recalled
that, aside from the natural and lepidmate
causes OF dl1iculty and trouble which the New
York and Newfoundland company had 10 ON
counter, their policy of buying off the Legislative
supp0II promised 10 the projected Labrador
rival line was serious error and brought any.
tnlng out credit 10 those concerned in it.. We do
not know now much of the first subscribed
capital OF the Company was appropriated To this
| quesuonaole purpose; but we are satisfied that
| ~ Woulo nave been a gain rather tnan a loss 10
tn tne p,oheers IN Atlantic telegraphy had one or
| tmp OF hali-a-dozen competitors been allowed
! Lney lOund the means-to enter the field by
| 9ther routes. Much valuable time, and we
uouDt not much valuable money also, we're
| spent IN preventing other charters from being
| granted The fear of excessive Competition in
| lntercOntluental telegraph lines may have been
| not altogether unnatural twelve years ago. But
II the Directors of the pioneer Company could
| nave foreseen what long road they had them
selves to travel before their adventure should be
| iound success, they would certainly have
| used their means to better purpose than block
| ocean routes.
The public as yet know too little of the re-
| Gently projected line by way of the Antilles or
| OF the capital and energy by which it is sus-
| lalned 10 Judge OF its early success under its
| present management. But no one doubts that
| not only can Southern Ocean line to Europe
pc made profitable but that others by way OF
Labrador, Iceland, the Farce Isles. and the
HebrdGS, viii be built at no distant dav. If one
incorporated company should fal, another wilt
take Its place, and these companies will be
multiplied until we shall have healthy compe-
tition.
The line from the Pacific coast, through
Northern Asia, which will shortly connect us
with Eastern Europe, will relieve some o { the
pressure on the Atlantic cables But any num-
Der OF additional lines for which capital can be
found in this or the next generation, will we
take ~ only tend to an infusion of vigor, spirit,
M hnsa HrLf &l.-I,., A.
Field himself has made satisfactory statement
conbrmatory in an indirect Way of our predic-
ton. After the cable had been in operation for
but three months, the Directors found them
selves in position TO reduce their tariff by one.
nan. In few months more, Mr.. Field
oeheVes, the Company will be in a posi-
tion TO make their charges onequarter
OF what they were originally. To accommo-
date the increased custom which this will
bring to the cable, the double line will have
70 70 De worked night aud day And it is evident
that tne directors already oontemp plate the pro.
liability of their being compelled TO build new.
lines at anot distant date. While every one will
reJoice 10 md the original enterprsers in At
lanilc telegraphy abundantly recompensed for
Ihelr energy, resolution, long endurance, and
heaVy outlay of capital, il Will be for the inte-
rest OF the public that they should not be the
only ne%sca1riers on tie great Atlantic high
way. We feel more deeply every dav the hanp
ful effect of monopolies in our internal lines of
c0mmunlcatlon. And we are admonished on
all hands TO see that limit IS some where set to
Cue characterization ana consolidation of great
corporations.
New ocean lines, if honestly and liberally
managed, will each, as it comes into existence,
create business for ITSELF Every step. such
as Mr.. Field suggests, in the process of cheapen
Ing the rates, will only be followed by CORES.
pondmg accumulation of custom; and we do
pot see what limit may be set, even within the
luetlme OF the present generation. to the in
come of at least halfa-dozen welLmanaged
lines.
The great banquet in honor of Mr.. Field |
was an acknowledgment fairly due to his en- |
terprise, courage, and manly endurance. If
some OF his injudclous friends have shown an
anxiety for the elevation of his name and credit
which was not at all necessary, and which |
was sometimes ndiscreet, the merchants and |
other leading citizens who have Joined in this
testimonial have only given Just RECOGNITION l
TO services which have been so far beyond the
range of ordinary enterprise. Mr. Field is
enCtled to claim for himself the credit of hay
ing secured for his country fair share OF the
honor which so grand an achievement carries
with 1t. There is no doubt, moreover, that
every one of those accomplished and wor .hy
EnglsLmen who were associated with Mr. |
Field from the first adventure in 1867 down to |
the present time, do full justice to their Ameri-
can colaborer, and heartily acknowledge their |
for his vigorous resolution and |
his unfncIinR devotion 10 the great task they |
had jointly undertaken.