Year: 1867

Ths New Commercial Epsch-Nsw York asd


San Franchise.


The readers Of the HHaAID must have been
struck by the extraordinary falnsss Of the frst
news BY tho new steamship line to China The
news brought By our special kilograms from
Chins aRd japan kili have reached London
twenty days In advance OF the date ct which it
would have been received there BY way Of the
Cape Of Good Hope or the Isthmus Of Suez.


The arrival Of the Colorado at San Francisco
on the goth Of March, on her return-the first
round trip ever made by . steamship from
China and Japan, and the instantaneous trans
mission other news 10 Europe BY way Of San
Francisco and New York, suggest prodigious
revolution in the commercial history Of the
world As ii has been ascertained that the
electric current can be transmitted to dis
tance Of three thousand or ten thousand miles
as surely as that Of one thousand-in fine to
any requisite distance, Il is not unsafe to pre-
dict that ere long the success OF the grand
experiment Of an Atlantic cable viii be rivalled
on still grander scale by Pacinc cable from
San Francisco to the Sandwich Islands, and
thence to some point on the shores of Eastern
Asia. With this, to say nothing Of the Russian
cable, and with the telegraphic lines stretching
across tho American continent not only will
political but financial news Of the utmost
importance be speedily conveyed around the
globe. The rates Of exchange at any time and
at any point will be so immediately and SO
generally understood at every other point that
every merchant everywhere can be his own
financial agent.


The transportation of the immense products
Of Oriental Asia and Of the great Archipela-
goes, with their inland continents lying to the
south Of Asia, must inevitably fnd its way to
San Francisco, while the bulk Of European
commerce will come to New York and The
commerce ef the American qQntiusnt viii dow
out FROM these two points to the rest Of the
world. Thus the two great commercial GEN.
tres will be New York, the Queen Of the
Atlantic, and San Francisco, the Queen of the
Pacific.


Meanwhile our railroads between the At
lsntic and the Pacific will build up . line
of Hourishing cities that shall enliven even the
intervening deserts, - in ancient times the
traffic Of Asia, passing across Asia Minor to
the Mediterranean, built up along the old
camel routes in Syria the marble cities Of
Baalbec and Palmyra, together with those on
the Mediterranean coast


In this broad and world embracing view of
the subject the primary importance Of steam
ship lines between San Francisco and other
points on the Pacific and Eastern Asia stands
out in bold relief The initial experiment
shows what may be done. Whatever obstacles
may intervene, whatever delays may be occa-
stoned by extravagance or mismanagement or
playing with stock after the battiedoor and
shuttlecock fashion r Wall street, the great
object Of establishing steamship navigation be-
tween our Pacific coast and Eastern Asia will
ultimately be attained. To this end and for
the promotion Of tho interests Of steam naviga-
tion on the Atlantic as well a. ON the Pacific
IL win be right and requisite to encourage
American stsamship lines, NOT, indeed, a. one
company has weakly asked, by guaranteeing
its bonds, but by all more legitimate and effec-
tual methods. For years past Franco has emu
latsd England in fostering and developing the
mercantile mzripe. But "a our county this
has waned not only for want Of Sit0Sfss ssehsnt,
but in consequence of positive legislative dis
couragement. Thus all American vessels which
had sailed under foreign flag during our late
war wore prohibited from coming back under
their own; and this is ono reason why Ameri-
can trade 10 to 50 lamentable an extent con-
fined to foreign bottoms. Surely this ought
not and need not so to be. The success OF
the French steamships should stimulate our
rivalry, and American steamship lines should
at once be established. This country Is not
only politically on . broader and 6rmer basis
than before the war, but commercially II is
about to enter upon . new epoch Of power
and prosperity, distancing all competitors and
eclipsing everything in the record of the re-
publics and empires which have passed away