February, there is a paragraph gi details of a new line of submarine telegraphs that will, when completed, stretch from the shores of England to the Atlantic coast of the United States, and from San Francisco to Japan, Ohina, and, ultimately, India.
The projector's name, Jay Gould, is of unpiousing sound to British ears; but the eminent speculator, whose frequent manipulations of Line stook send thrills of anguish through the London aid Berlin stock markets, no doubt has good reasons for supposing that the new and long lines ho has planned, will be profitable. For many good rengons, we are disposed to welcome the enterprise.
The existing sea telegraph lines that connect China with Europe, charge too much, and, as electric communication has become necessary for the safe conduct of the uew order of business, the expenses imposed on traders are-excessive. In consequence of the preposterous tariff charges swollen by a ten per cent—the rea sous for which are now obsolete,—the unreasonable restrictions, and the various ingenious elaborations of tormenting rules, made to puzzle and worry all men who wish to economise, the companies and the public are in constant antagonism. To every unreasonable rule formulated at the periodical congresses, merchants reply by elaborated condensations, so that one number, or one code word, is made to contain, or is designed to contain, sentence. The companies carry on incessant attack, whose objective is to charge the highest obtainable rate for the least accommodation; in converso, the defence of the oppressed tariff-payers is cunning and persistent. The action of the companies is irritating, and will in the end detent itself, but to the merchants who support the banded lines, the defence required against exorbitance produces almost insupportable inconvenience. To compile n code—a very necessary precaution, where, as in some cases, the lines may be in the hands of persons engaged in trade or stock-dealing—is a laborious occupation; to condense it, so as to meet and baffle harsh rules, is a work attended by imperfection but to have to change, modify, and conform to the arbitrary rules compiled at each successive congress, awakens indignation. We repent, the tariff rates are too high, foolishly high, because in many affairs of business the charges are now prohibitory. Farther, the rales are needlessly impermanent and, generally, vexatious.
If the rates wore reasonable, say four or at most five shillings for each word sent between China and Europe, we ar sure that the revenues of the companies would benefit. But, as no chance of any moderation of rate can be expected while the present policy of the combination of companies Lasis, the competition now promised will be welcomed. Traders are uow under no obligations to the existing companies, whose stinted and grudged accommodation are so highly charged for, and will be glad to seo the new cables, whether in a "questionable shape" from Mr. Juy Gould, or from the Western Union Company of-the Thited States.
Of all the countries that have telegraphic communication with Europe and the United States, China and Tupan are the most badly served. The coast line too frequently strikes work, and almost invariably the Siberinn land lines break down just at the anxious time of the opening of our tea and silk markets, Frequently, too frequently, communication with Europe, whether by north or by south, ceases altogether. The impermanency and uncertainty of the lines are grave injuries to trade as now constituted, and when to the inherent and apparently incurable quality of defectiveness of the lines we add the oppressive regulations that worry and oppress us all, and yet, in trath, do not benefit our oppressors, we think that the foreign communities of Northern and Southern China and Japan have reasons for hoping Mr, Jay Gould will. quickly carry out his comprehensive scheme, and so bring to an end all exaction and annoyance by a good, trustworthy, and official service, with moderate charges and reasonable conduct.
The matters we refer to, of telegraphic tariff and regulations, deserve the attention of the Chamber of Commerce, whose remonstrance would certainly have good effect, whether a competing live is Inid or not.
Text read from the printed page and cleaned; old type leaves the occasional error.