The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-07
TELEGRAPHIC CONSOLIDATION AND
MONOPOLY,

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MONOPOLY.
Of the s35, 600. 900 of Western Union Tele
graph stock it is said that Vanderbilt own
about S., 600, 900, and his friends who operat
with him about $11 ,0O0, 900, while Jay Goult
owns about s7,5OO,OOO. The latter, in tn,
opinion Of the Chicago Tribune, is striving t,
obtain control of the company. Failing t.
defeat the Vanderbilt interest, he invested
heavily in the Atlantic and Pacific Telegraph
Company, apparently with the view of build
ing up formidable opposition. Recently
the latter named company leased their line tc
the Western Union Company at about $40,
900 year. This latter transaction largely
increased Mr.. Goulds power in the W. o.
T. Co.
1t is the surmise of the Tribune that Mr..
Gould will now succeed and get control of that
Vast and prosperous corporation, and thereby
IN brief time, obtain " complete and abso-
lutte monopoly Of the telegraph business of
this county,"
The time will come. as the Tribune predicts,
when one powerful company will control or
own all the telegraphic lines on the cont.
nent, with such foreign connections as may
be thought most desirable. The owner of a
hundred thousand miles of telegraph can
certainly maintain and operate it at less rate
per mile than the owner of a thousand miles.
Everything favors the wholesale operator and
owner.
He can establish low and uniform rates of
wages for employees. He can buy his wire,
chemicals and batteries upon more favorable |
terms. He can make his main lines nav for |
those lines which cost more than their in. |
come. He can determine with precision |
it will be remunerative to open new
lines or to discontinue those in operation.
de can establish uniform charges. He will
know whether or not it will be advisable to
reduce charges in such manner as to increase
business. And if enormously rich he could
'asily make use Of monopohzed intelligence
% increase his gains by speculation. He
Gould take advantages Of all changes in mar
,ets and of all occurrences which affect the
alues of property, shares and securities.
The owner of hundred millions of dol
ars' worth of telegraph property could, in
II but disastrous seasons, make q net profit
fifteen or twenty millions year on the le-
itimate income from the transmission of
lessages. Besides this he could make an |
ther large profit out of his teIegraphic trans l
RS OF money, which are growing in import c
nee every day as means of exchange. He
ould afford to open and operate a dozen \
anking houses in as many cities, each hav. il
lg an advantage over its competitors He v
'uld afford to employ hundred agents k
it'll talents of the highest order, five thou. q
nd OF secondary grade, and fifty thousand
clerks and mechanics. In any t.
ose political contest his lines could be @
manipulated as to make difference of many Il
ousands of votes. He will WELD more in al
fence than the foremost twenty of the n
aiding newspapers, and can afford to sup q
'rt many journals devoted to the service of n
9 monopoly. His sway would be almost
tocratic, and when linked, as it certainly p'
'uld be, with railroad and other monopolies, m
. combination would become supreme. ha
In the event of such combination of tl'
popular revulsion would en-. an
., In which the masses would insist that fr'
government should interfere directly pa
railroad tolls, fares and freiehts. re-
assume control of all telegraph pc
es after due compensation to owners The
'ple in their eagerness to escape from the lin
,gers and pressure of monopoly will
ke haste to urge upon Congress the as an
option of newly tried and donbtf,l or.hox his
To escape an evil which is present and an
nfully felt men often founder and dash sta
} other evils as great or greater. an
here is successful British example, and Oh
re are some plausible arguments in sup. ITO
of government postal telegfaphic sys-
for the United States. We have become spo
lstomed to look upon it as one of the Wit
'mes which must be tried, and yet we can ne'
anticipate it without some degree of adv
ID and apprehension. A government oie
lopoly is worse than that of individuals Que
corporations. Against the latter the PEG. low
may, at any time, form counter combine VIII
>, or answer its abuses by physical vio- On.
Q and the destruction of its property, but y
nat tho monoro,v nc ,,ouo-,.. mat
onerous, there is no remedy short of re- lof
on and revolution. esp'