The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-28

We are quite Of opinion with the Journal
| O1acid of Paris regarding this new Franco
American cable-as reported In yesterdays
telegram-that It may serve s'to draw closer
| the bonds of friendship between the two
countries" II is true we are at present on
the most friendly terms with France, but such
bond as this upon our interests will not fail
to strengthen the chances Of our remaining
so. We are glad that our Secretary of State,
although with more delay than was at all ne
cessary, has at last given the assurance that
the government will offer no further opposition
to the new company, and we even expect to
hear in a few days that business communion
lions by this new cable have commenced, thus
forming an additional link to bind us to the
Old World. AS far as France Is concerned this
must certainly prove year forever memoir
able in her annals. The opening OF the Suez
Canal and this new Atlantic cable must surely
stir within her the spirit Of commerce, and
may possibly turn her attention less to the glory
to be found In war than to the arts and tri-
umphs of peace. Indeed, when we look to the
highway to the East by the Suez Canal, which
she has just completed, thereby abolshing the
old route to India, and in all probability
making the shores Of the Mediterranean once
again the busy seat of Eastern commerce, we
see before her splendid future, rich with the
treasures of "Ormus and of Ind aud we are
sure that our merchants will not fail to appre-
ciate the advantages that this new route Of
communication opens up to them.
But, leaving the gorgeous future out of con-
sderation and combining ourselves to what is
more practical in the present, we find that this
new Atlantic cable gives rise to another con-
sideraiion. The old Atlantic cable line was
and is, beyond all question, most exorbitant
in its charges, the consequence being that the
general public has made little use Of it. Com
petition, we are certain, Is the only remedy
for this, and for this remedy we must--at
least for the present-look to the new French
cable. 1t is not long since we were told
that the old company paid Its share
holders dividend of eight per cent
but when the new company compels
them to lower their scale of charges
we firmly believe that they may look for some
thing better than this. The general public,
as we have said, have not contributed to the
profits of the undertaking. The press, and
merchants to whom early intelligence was of
vital Importance and to be paid for at any
price, have hitherto been the main reliance of
the company. Let them admit the general
public, by reduced tariff Of charges, and
their wires will never be idle. Now that the
monopoly is ended, merchants may, according
to their own wise rule, look elsewhere for the
cheapest market, and as to the press, it may
prove no disadvantage to the reading public to
learn the political changes Of Europe as they
are viewed through French medium. While
expressing, therefore, our confidence that this
new cable will prove prosperous undertaking,
we trust that American enterprise will give us
at least Zone cable more," were it only to
support the honor Of public spirit in this conn
| try when cOntrasted with what we see OF it
in this respect in France and England.