The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-01

New York may well be proud of and have
confidence in it's commanding commercial
position. There is, too, great power in its
capital to draw and control trade. But it
may lose relatively or even positively, in
amount of business through the natural adj
vantages or enterprise of other places unless
means be taken to head off rivals and to i'm
prove the channels of. commerce. Over
confidence is sometimes dangerous or
fatal. The greatest commercial cities of
former times have lost their trade by self
satisfied security and by closing their eyes to
the march Of events. The monetary power
and benefits of favorable exchange were
transferred from Amsterdam to London, and,
as consequence, the commerce of the world
to England, by q little adroit financial manage
ment. Our capitalists and merchants should
not feel too secure or despise the efforts made
to create diversion of trade.
A bill has just been read third time in
the Canadian Parliament to incorporate the
International Transportation Company, with
capital of five millions Of dollars The
object is to draw large portion of the trade
renee or by the Dominion railroads to Port
land. 1t is estimated that the cost will be
twenty-five to thirty per cent less for freight
by this route than by the way of New York.
Then the Pennsylvania railroads are building
large steam vessels for transporting coal to
every part Of the United States to be used in
place Of the schooners and coal boats that
have deposited their cargoes at New York.
Baltimore and other Southern ports are striv-
ing for more direct trade with foreign coun-
tries. The object should be, therefore, to
control all these efforts and make New York
the cheapest as well as the best point for
collecting and shipping the produce Of the
country.
In connection with this subject we may ad-
vert to the remarks Of President Grant in his
message to Congress on the value of improved
water communication both with the West and
along the interior waters of the Atlantic sea-
board, such communication being much
cheaper than by railroad. Our canal system
could be made much more useful in this
respect than at present; and the cost Of
handling and shipping grain and other pro-
ducts at this port ought to be greatly re-
duced. In connection with General Grants
idea of utilizing the seaboard interior waters
by canals we may notice that Senator Cam
eron brought this matter before the Senate O
few days ago, with view to have surveys
made by government engineers for q ship
canal between the Chesapeake Bay and Della
ware Bay, by the way of the Sassafras River
and also for making the waters of the Susque
hanna navigable. This project of o shiT
canal from the Chesapeake to the Delaware
by the route Mr.. Cameron referred to is abou
to be carried out, charters having been OBJ
tanned from both the States of Mary
land and Delaware. This canal will shorter
the distance from Baltimore to New York two
hundred and twenty-five miles, and then til,
coal of the Baltimore and Ohio Railroad regiol
can be brought at dollar less cost toi
to the people and shipping Of thi
port. This line OF communication will
make Baltimore an entrepot of New York fo
the vast trade Of the South and Southwest
Such enterprisas "a this one will 90 far no