Evening star. [volume] (Washington, D.C.) 1854-1972, 1868-09-07
IPUBLIC-NO. ll1l


AN ACT TO provide for an American line of
mail and emigrant passenger steamships be-
tween New York and one or more European
BE 1t enacted by the Senare end House Of R,pr,
sentGtiues az the United States Of America an Com
Sress assembled, That the Postmaster Genera
is empowered and hereby authorized to con
tract with the Commercial Navigation Com
pany of the State of New York, a corporation
existing under the laws of the State of New
York, under special charter passed by the
legislature of said State under the date of April
twenty three, eighteen hundred and sixty-six
for the weekly or semi-weekly conveyance of
all European and foreign mails of the United
States between New York and Bremen, touch
Ing al southampton, England or Liverpool,
touching al q ueenstown, In first-class ago.
ing steamships, TO be constructed in the nited
rot exceeding fifteen years, in the manner and
on the conditions hereinafter stated.
SEC. 2. And be IL further enacted. That the
said navigation company shall, with a purpose
OF performing the above service. build, con.
tract, and Mt out, within one year from the pas
sage of this act, at least seven first-class sea-
going steamships, f1ve Of which shall not be of
less than three thousand tons each, govern
ment measurement and two others of not less
than two thousand tons each, all of which ves-
sells shall be constructed in the best manner,
under the supervision and inspection Of the
American Lloyds. or, if ordered by the Post
master General. under the inspection of the
most competent engineer, TO be detailed for
tins purpose by the Secretary of the Navy, upon
a written application of the Postmaster Gen
er3l, SO that when completed each vessel shall
be eff the first class in every respect, and with
all known modern improvements in model,
machinery, and outfit, SO as 10 secure he great
est possible speed and safety; which steam
ships, when 30 constructed, shall be organized
into and compose the United States mail
steamship line, for the proper conveyance of
mails and passengers, az hereinafter provided:
the time OF sailing, and all other details. to be
arranged and agreed upon between the said
company and the Postmaster General, with
10 time. as may best promote the object in view
Prorided, That no letters or mail matter shall
be detained for the purpose of being sent by
this line: And prorided further That the average
rate OF speed Of the steamships of the said nayi-
cation company shall not be less than that of
the stf amships Of other lines upon the same or
similar routes, and If for the space of three
months the trips excessively of the steamsh hips
of said company shall be made in longer time
than that employed by other steamships as
aforesaid, then any contract made under the
provisions of this act shall cease and determine
al tie pleas ure OF the government OF the United
States.
SKC. 3. And be IL further enacted That the
compensation Tor carrying and transporting
the mails by sea. rs herein provided, shall be
agrt ed upon, and shall be in conformity with
the act of Gong -ess, approved June fourteen,
eighteen hundred and fifty EIGHT, and shall in
no event or contingency exceed the sum therein
provided, being all postage on letters, news
papers, and ali other mater transported by or
an the mails carried by said navigation COM
y.
be paid TO said navigation company quarterly,
or applied TO their use or benefit, as hereinafter
prov lded: Prortded, That when the receipts
Of said navigation company from sea postsges
under any contract to be made IN pursuance of
this act, shall equal or exceed the sum of four
hundred thousand dollars per annum, then the
right OF said company to receive the inland
postages shall cease and determine, and said
compsny shall only receive the sea hostages:
PrOrided, That such hostages shall not exceed
six hundred thousand dollars per annum, after
the discontinuance Of said inland postage.
SEC. 4. AID be IL further enacted, That to in
sure the construction OF the aforementioned
vessels within the time and in the manner
bereinbefore provided, and the maintenance Of
the said line, the said Commercial NAVIGATION
company may issue bonds To such an am CUNT
that the entire annual interest thereon shall rot
exceed the sum OF two hundred and fifty thou
sand dollars, such bonds TO be made paw able at
the expiration Of the before mentioned fifteen
years, and the interest thereof TO be made pay.
ofsuch bonds to be made paysble in coin of
the United States. That for the protection OF
the holders Of s1ch bonds they shall be sever
ally REGISTERED AZ the Post Once Department
ment, without liability for the payment Of the
Interest or principal of said bonds upon the
part Of the Post Once Department only in
as Sen.s sSva ass.v. Aa al
moneys for postage earned BY the
the same rs far rs needed to the payment Of the
bonds. an d shall retain tie surplus after paying
such interest, and shall invest the same quar-
tsrly in the securities OF the United States TO
BORN sinking fund, TO be held solely for the
ere Al OF the bondholders, and TO be applied 70
the payment OF the principal Of such bonds.
Ar d whenever, and % soon as such sinking
fund sball equal In amount the entire principal
OF said bonds, then nom that time forward the
ncoyne Of such sin king fund, and the principal