Year: 1869

Surprising and important as the develop
rnents and influence of the magnetic telegraph
have been, we have seen only the infancy-the
first signs Of the power--of this mighty agent
Of modern science and civilization. We under
stand there is q now and remarkable invention,
an automatic system of fself-telegraphing power,
which will multiply eight or ten times the
facilities Of telegraphic communication over
the present system. From the information we
have received and from what we have seen
there Is reason to believe this'is one Of the
most astonishing inventions Of the age and
destined to produce great revolution in the
commerce. financial affairs, intercourse and
social condition of the world. We learn, also,
that the government will be asked to test this
invention and to take control of and use IL for
the public good. Congress, we hope, will not
hesitate to investigate the matter and to make
the necessary appropriation, first, to try the
new system between Washington and New
York, and then,. If successful, to obtain the
patent and give the whole country the benefit
Of 1t under government control. Congress
never did better thing than when it appro-
priated thirty thousand dollars for putting up
and testing the first magnetic telegraph line
between Washington and Baltimore. What
wonderful results have followed! Yet the
opposition was so great that it took five years
that is, from 1888, when the Committee on
Commerce first reported the bill, till le43,
when 1t was finally passed and signed by the
President-to get this Insignificant sum for
trying the greatest invention then of the age.
Let Us hope our present Congress will prove
itself more enlightened. It should pass at
once on reassembling Mr.. Washburne's bill
appropriating sixty thousand dollars for an
experimental postal telegraph line between
New York and Washington, with an addition
of any other sum, if necessary, to test on such
line the new automatic system.


1t is known that the object of Mr. Wash
burne and those who act with him in propos-
ing an experimental postal telegraph line is,
if that should prove successful, to place the
whole telegraph system Of the country under
government control. This is the secret of the
determined and powerful hostility of the exist
ing telegraph monopoly to his measure. 1t
would not only be the entering wedge that
must break up this monopoly, but would show,
probably, that in case of proposition to pur-
chase existing lines the government could con-
struct better ones for eight or ten millions of
dollars less than the present companies would
demand for their property. 1t is a curious
fact that when this invention Of the magnetic
telegraph was first brought before Congress in
the way mentioned the idea was to connect Its
operations with the postal system. The in
ventor as he said In q speech at the banquet
given to him short time since in this city,
was the first to propose that. The Secretary
of the Treasury at that time, Judge Woodbury.,
urged this upon Congress and the report Of the
House Committee on Commerce was very en-
phatc. 1t strongly recommended the govern
ment to take possession Of the invention.
Some of the statesmen of that day seemed to
have prophetic knowledge Of what the tsle-
graph would become. But how much more
applicable are their arguments to the present
time and state of things than to the period





argument that can be made In favor of the
postal service being In the hands Of govern
ment applies to the telegraph. And who will
say, except a few crazy theorists, that the
postal system should be under private corpora
ions or indlvldualsP All governments take
charge of letter communications between their
own people and with foreign countries. Why
not Of telegraphic communications This
latter mode Of communication has become as
important and almost ss universal % the for
mer, and With the improvements we have
| adverted to or that must shortly be made II
viii supersede to great extent the business
of the Post Office.


But there is another and very important
view to be taken Of the use and power Of the
telegraph and the necessity Of its being under


government control 1t must become the


great regulator Of commerce, Of financial ope


rations and Of exchange. Few will take The


trouble to write letters and walt the slow pro


cess of the mails when the facilities Of tele


graphing are increased eight or ten fold. TIL,


time is at hand when almost all communlca


ton will be by telegraph. Financial opera


tions will be revolutionized. The old system o


exchange and the profits thereon will be abol


ished. People will communicate directly an,


freely with each other from one part Of tn


country, or OF the world, TO another. Tn


capital Of commercial men will be more tina


doubled in use; for instead Of waiting for th


mails they can learn instantly Of the accept


ance Of bills or the payment and receipt {


money, and can go to work with new opera


tions. Indeed, far less money or currenc


will be needed. The financial operations an
condition Of the banks OF New York, Q


exhibited daily by the Clearing House, wher


o hundred millions or so of transactions al
represented or adjusted by small balance
ono or two Millions will show what An efret