The Weekly Arizonian., 1871-02-18
Revival of American Commerce.

The Washington correspondent of the N.
 r, Herald write as follows under date of Jan IT:
 Ot the numerous steamship bills now before Conoress the oue introduced h the Senate yesterday by Mir. Conklin to aid in the con- struction of twenty or more first class iron steamships, together with ship yards, machine shops, rolling mills, wharves, docks, &c, for the buildings and maintenance of them and to secure the government in the use of same for postal, naval auG other purposes, is likely to command the strongest support, Those who have it in charge are we'll known and res- ponsible shipbuilders and capitalists. The leading men of botl houses who have been consulted about the provisions of the bill re- gard it as entirely practicable, and it is the intention of Senator Conking to have 1t re-. ported from the com pittee on Commerce, to which it was referred ,hs soon as possible. The bil is drawn upon the principle that the decline of American commerce is not much owing to the depredations of tR Alabama and other rebel cruisers as to the revolution which has taken place in sbipbpiIding during the last ten years the idea isnot only to construct line of ships that tan compete with any, thing on the ocean il point of speed, capa- city and convenience but to cheapen the construction of the ships. The company
 is first of all to purchase and equlp one or move ship yards with machine shops, foundry and rolling mills, with power and fa- ciliiy to constrUctihe largestclass ofi'on ships. One million dollars of the capital of the com paly actually paid in is to be invested in pur- chasing aud eqnipping these shiPyards. The company Is to construct and maintain twenty first class iron ste lmships Eight of them are to be of not less than 4,0OO tons, six of not less than $500 tons, and six of not less than 5000 tons. Four of the ships are to be constructed and ready for sea with in eighteen months alter the passage of the bill, four within two years and the whole twenty ships within three years from the date of the passage of the bill. While their own shipyard is beins equipped the company may build four of the ships iI ady shipyard ot the Uniied Sta es. The ships of the company are tc car. ou every voyage for thirty years the U- nited States mails, government specie, bullion currency, officers of the diplomatic corps anC s9eciaI mail agent on each trip free O charge to the government. In case of wal I the government may take any or all of the ships of the company and use them as yes sels-of-war, the government to pay the com pany the actual value of the ships. Bond to the amoant of S2O,OOO,O 900 may be issuec ! by the company at the rate of six per sen iuteret, and the interest is to be paid by th government for period of thirty years, bu
 the government will not be held responsible for the payment of the principal. As secu
 rity aud in consideration of paying the interes tbe government is to have a first mortgag on all the real estate and ships of the com. pany. Ia case of the failure of the compan. to perform all the duties to the governmen required by the provisions of the bill. the Secretary of the Navy is to take possession of the property Of the company to indemnlf.
 the government for any bonds it may hav' endorsed at the time of such failure Int endorsement of the go vernment Is simply ih
 promise of the government to pay the lnteres
 or the bouds for thirty years. No bonds ar
 to be endorsed until the company has ac
 tualIv invested in land, works or material for the purpose mentioned in the bill, a sun
 not less than one million of dollars.