The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-12
The Atlantic and Pacific Telegraph Com.
pany.

pany.
This company is rapidly extending it's wires
from East to West. and it is announced that
they will be completed to Chicago during the
present week. It is now in communication
with all the Eastern States, and will soon con-
meet with all the commercial centres Of the
country. 1t has already secured profitable
business, and it is now offering for sale that
portion of its capital stock ofive millions which
has not been hitherto subscribed for, the object
of the company being to employ the proceeds
in the extension of the lines and the construo-
ton of additional wires to meet its fast in
creasng business. The lines were opened for
business about q year ago, and in month
afterwards they were employed to the extent
of half their capacity, since which time there
has been a steady growth of business. Thus
the earnings were thirty per cent more
in February than in January last, and
twenty-one per cent more in April than In
March. When in June the company
built an extra wire between New York and
Albany the receipts Immediately responded to
the change, and q large increase has invari-
ably followed every addition to the capacity
for transmitting messages, while for want of
sufficient facilities the company is compelled
to refuse business daily. As this has gone
to reduce it's rates correspondingly, and it is
estimated that with three times its present
capacity for business its working expenses
would not be increased more than ten per
cent.
The same is also true of the Franklin and
other connecting lines, all of which are doing
prosperous business, the latter growing with
the growth of facilities for telegraphing, and
the larger it is the more the percentage
of expenditures is reduced and the more
telegraph companies are enabled to
reduce their charges to the public.
1t is, therefore, to it's interest to en-
courage the construction of new lines by
literally patronizing them, and we are glad to
find that while the Atlantic and Pacific wires
are being extended due West other lines are
being constructed from North to South, 50
that important additions to our telegraphic
system are constantly being made, and within
very short time we shall have the most COM
plete network Of wires in the world, just as it
is already by far the most extensive. COMPETE
ton is the life of trade in telegraphic enter
prise as well as business generally, and the
public has reason to be gratiaed with the pro-
gress which Is being made in increasing the
al Eoni1itioo a. sto HsovNOco1 Eoc
West, North and South, between those great
boundaries, the Atlantic and the Pacific.
On, Political Stump Orators Financial
Questions.
Scarcely speech has been made by the
stump orators during the political campaign
this fall in which the subject Of our national
finances has not been the chief topic. Far
more has been said about that than about
reconstruction or anything else. This shows
the vast Importance of the question aud that
it is looming up in a manner to overshadow
all other public questions very soon. But it is
lamentable fact that the political leaders of
all parties are utterly ignorant and in the
greatest middle about that which all concede
is the most important subject of the day. On
one side we hear nothing but the old stale
twaddle about paying the debt in greenbacks,
and on the other nothing but the narrow
minded theories Of forcing specie payments,
paying the bondholders in gold and raising the
national credit abroad. There is not COM
prehensive, statesmanlike idea in the whole of
these speeches, from Pendleton's, Buffers and
Fessenden's down to Atkinson's, Tindalls and
Hoffinan's They all get into great muddle
even as to the figures which are officially set
forth by the Treasury Department or the heads
Of that department. Not that the Treasury
officials are 50 clear in their own ideas or
statements; on the contrary they know about
as little as the politicians, and in their state
ments only make confusion worse COMPOUNDED
Still the stump orators and the party press
have not sense enough to analyze the subject,
to take simple facts and to draw general con-
illusions. The country now wants statesmen
Of large views on financial matters. But
where shall we find them? At present we
look in vain. 1t has been said that under
great public necessities the right men come
up-are brought out, 80 to speak, by the pres
sure Of necessity. Let us hope that may be
the case in this country, though such men are
not seen yet; for our national finances have
been brought into fearful confusion, and
unless soon systematized and reduced to
order the Treasury will become bankrupt and
the burdens Of the people be unbearable.
DELMAR FIRING UP AGAN.-Delmar, the
director of the Bureau of Statistics, is not
to be put down by the radical organs
and speakers. His damaging and in the
main correct statement Of the financial condi-