, 1875-08-25

corporations from tho tax on capital stock.
.-:-:.::.,::.:- - - -
ANOTHER SUBSIDY CoLLAP3E.
Another balloon has coinlsed-n very
large, very snowy, and very costly balloon,
huilt by contractors with Government help
n balloon built not to navignte the mir but
the sea, and intonfled to carry lnrgc numbers
| of passengers md rast amounts Of property.
Soinewhat over d ycar ngo, the steamship
City Of Peking, bnilt for the Pnciac N1aiI
Steamship Company, WIS launched from the
ship-yard ut Chester, ra., with grnnder
flourish Of trutupcts thnn ever yet hcralded
the christening OF an ocean steamer or any
other kind OF steamer. We wero informed
TINT she 'Sns Aoating pnlace, although it
has since turned out that sho is about rs fit
for 1on.ing ns an actuu1 palnco would be.
We wore informed that gho was tho
longest, tho strongest, aud the most gorgeous
craft that that ever "walkcd tho waters
like q thing Of lifo." For months
sho made trips in New York harbor, and all
the politicians and lobbyists, the soldiers, and
scholars, md poets made excursions in her,
and feasted upon City Of Peking viant1s and
drank City Of Poking champagne, under tho
effects Of which they waved eloquent upon
tho glorios Of tie City OF Peking Tie
politicians mado long speeches and the poots
wrote long poems in her honor. aud at Inst
people cnuo to believe that novcr such
vessel sailed tho wator since CLEorArRA's
barge, with its perfnlned purple snils and
silver oars, (which to tho time Of flutes kcpt
stroke" went sweeping down tho Nile. They
paid glowing tributes to tho enterprise of tho
Company which could order such floating
pnlaces; to the builders who could
build thom and to tho great and good
paternal Government which allowed all con.
ccrned To dip their hantla into tho National
Treasury mud take out whit they wanted for
tho construction and ndornment of 'he City
Of Peking. But at last in the natural course
of business it bccame necessary Tint tho City
Of Peking should mako an ocean trip, for slo
could not always DO devoted to holiday
junketing in tho harbor Of New York. She
went to San Francisco and had to be hauled
mp for repairs. Tho rcpairs mnde she went
to Chinn, and without encountering my &C.
rioua weather was in such q richctty condi-
ton TINT no insurance could be obtained on
her for the return trip, md she was not al
lowed to carry any passengers. Divine
Providence and tho weather being
favorable, s1o got back to San
Francisco and underwent careful in
| vestigation. What was the condition
Of the gorgeous Aoating pnlace7 Three
thousand rivets found to bo so loose, some Of
them having boon worn down from one inch
to tlye-eighths Of IN inch in diameter, that
they had to be drawn out! The cement in
her waterways cracked! Tho joiner work
started, and the doors hanging in all direc-
tions "For over 100 fect," says tho San
Francisco Chronicle, amidships tho fresh
rust running down from her riyeta showed
conclusively that she ia weak, md, when
laboring at sea, working her riveta md ad-
mitting tho wafer" The oakum showing
through tho planka Of the stec1ago and main
deck! We quote still further from tho
Chronicle:
On tho outsde hundreds Of rlrc,a aboYo The light
wster.lno cau bs discovered which have moved, and
soma Of tho Fiseta put In whilo the dry-dock
In February last. will have 10 be akon out, which goes
to prove that she Il still working Instead OF putting
100 Of ballast IN her hod ~ sho had when atriy-
lug here, the samo weight Of Iron should have been
put into the hull Tia sease, although Of enormous
length, hs1 double thcor strake. liar deets, lu-
stoad Of being plated the enrs longth and trcadlh
with 1-inch Iron. are ouly dagonally strapped, the
beams are b.dly attcd to the frames. but worst Of
ILL., tho greater number Ut her Eivptho1Gs through this
bkln and butt stTApA are laI blind.
And this is what ia left Of tho floating pal.
acc, the City Of Peking; and the City Of To-
kio, her companion, is said To be but little
bettor od,-both built by tho same contract
! ora, both built In the game manner, both
| constructed In Pennsylvania Of highly.pro-
| tected American iron, for which tho Ameri-
| eau people were taxed millions Of dollars, az
| Rn unanswerable argument agains. the oppo-
! nsnta Of high-tariaf robbery; both Of thom
built to show TINT vessels could pa construct
cd Of protected iron and successfully contest
| English superiority on the high seas both OF
| them going to pieces; neither Of them 1T 10
cross the ocean.
Tho City Of Peking wns aubs!dy steamers
| built by d ring, Credit Mobiiiar fashion, upon
| money fusnishea-oz expected to DO supplied
by the Government, and only adds ono
more instance to the long catalogue Of mel
anoholy collapses OF subsidy schemes In rail-
road as well 81 steamship construction. 1t
otAy aoaoeeh oAa Mu1e P9oo1 tuas WAese
there ia subsidy there will be sloldy
railroads and shoddy steamships; dishonest
contractors and dishonest companies aud
rings; money flched md squandered, swim.
filing, gross and infamous; commercial dis
honesty Of tho most aagrant description a
carelessuess as To tho lives Of passengers
which amounts to constructive murder. Every
F.! evil of subsidy Ia summed up in tha subsi-
died. high-tariN protected City OF Peking
and the City Of Toxic. With their worn and
fsasting rirsk, their gap!ng saamA their
! ssrainlna blAnts And Bavsd pl&tss, hAy tsp-