The Placer herald., 1868-11-07
STEAMSHIP OPERATIONS

While we do not feel justified 10 condem.
ming or severely cr,icisiug the acts Of iudi
viduas or corporations, so long a. those acts
are no, intended to inAict injury upon the
people, We cannot help the conviction that
the progress Of California has been greatly
retarded By the termination of the strife be.
tween the rival steamship companies between
this port and New York, by the Panama
route. 1t is asserted that both Companies
were loosug money by their opposition, and
had they kept it up to the bitter end both
would have been ruined. This is dou+ess
correct. and self interest is sufficient excuse
for the arrangements they have made to
cease ruuious opperation. Yet the people
of California had reason to rejoice at the
struggle, and to pray for its continuance for
a series of years; for they and their State
we're greatly benefited by it, and would
have received greater benefits from ts con.
tinuance. The low rates for freight and
passage which have ruled since the opposi.
ton was inaugura,ed, impaired additional
and marked vitality TO our tra6c with the
East, aud promoted a much healthier tone
in all branches Of business than had been
enjoyed under the old regime. In the mat
ter of immigration, the struggle was worth
more to us than the most strenuous efforts
Of immigration Societies could have accom-
pisbed 10 the same time. BY way of the
lsthmus, alone, our increase was nearly tif-
teen thousand souls in the first nine months
Of the present year-beiug equal to the in
crease from all sources, by sea, during the
same period Of 1867. Rates for passage by
the last steamers averaged about $55, in the
cabin, but now they are over three hundred
per cent. higher; while the prices for second
cabin and stearage have undergone pro-
portionate rise. Flour, which was carried
for so per barrel, will not now be taken
for less than $3.50 per barrel; price which
virtually renders it entirely out Of the pow
er Of holders to ship without loss, and dss'
troys the lively and promising traffic which
had been auspiciously commenced under the
reign Of competition. In relation to the
new state Of affairs, it has been intimated
that Mr.. WEpp, of the North American line,
has obtained the advantage in the struggle
with the Pacific Mail line, and has quietly
procured himself controlling interest in the
latter, which will enable him to dictate its
future operations. Division in the old board
of Directors, and wide spread dissatisfaction
among the stockholders of the Mail line
caused heavy decline in the stock, which
was bought by WEBB and his associates; and
the latter having got possession of control
ing interest in the Pacific Mai, have bought
ou. their own line North American) at thsir
own fgures-lhe old or remaining stock
holders of The Pacific paying their full quota
toward the purchase, being melted thereto
by the greatly increased market value of
their shares. If this theory should prove
correct, there will probably be a change in
the management of the Pacific Mail Compa.
ny. That Company will probably under
stand that it is WISER to rest satisfied with
small and regular profits than it is to count
the starting Of opposition lines, which will
prove rulnous to all concerned, and will
therefore regulate the rates of fare and
freight accordingly. In any event. the
Pacific Railroad will soon supply an opposi,
tion ingenious enough to keep the rates of
fare and freight reasonably low, so far as
passengers and light fast freight are con-
cerned. As for heavy freight, that must
necessarily continue to 60 by the steamship
lines. +. CaU