THE ELECTRIC TELEGRAPH. 



4500 miles of line, and more than 24000 miles of wire j and the 

 latter 2200 miles of line, and 13000 miles of wire. 



The capital of the former is nearly 800000/., and that of the 

 latter 300000/. 



It is estimated that the total amount of capital invested in the 

 telegraphic lines of the United Kingdom may amount to about a 

 million and a half sterling. 



THE ELECTEIC TELEGEAPH COMPANY. 



273. This company was the earliest established, and was in 

 operation for four years without any rival whatever, and for six 

 years without any real competition. These circumstances will 

 explain the large proportion in which the extent of this company's 

 lines exceed all others. 



The consequence of the exclusive possession of this important 

 machinery of intercommunication combined with the want of all 

 experience as to the extent to which the public in general might 

 be disposed to avail itself of the advantages offered to them, was 

 naturally and very excusably the establishment of a high tariff. 

 The use of the telegraph was regarded, so far as related to private 

 individuals, as a luxury rather than a necessary of social life, and 

 so far as related to men of business, as an expedient likely to be 

 resorted to only in cases of the most pressing urgency : conceding 

 the justice of these views, a high tariff was not only defensible, 

 but absolutely necessary to the protection of the interests of those 

 who had invested their capital in the enterprise. 



Time, experience, and habit, on the one hand, rendered the 

 public familiar with the uses of the telegraph, and created a 

 greater disposition to profit by it for the ordinary purposes of life ; 

 and on the other, supplied to the Company that experience of 

 which its managers stood in need, and enabled them, without 

 imprudent risk, to develop liberal and enlightened views in 

 the commercial management of the enterprise. Gradual reduc- 

 tions were made in the tariff, which were further stimulated 

 by the establishment of competitors ; and a standard of tariff 

 has been established which, as will presently appear, can leave 

 no reasonable ground of complaint as compared with those of 

 other countries. Whether a still further reduction and a nearer 

 approach to the principle of the uniform postage system would 

 not benefit the companies as well as the public is a question 

 that time and experience alone can solve. 



274. The following table, for which we are indebted to the 

 Board of Directors of this company, shows the extent of its lines. 



104 



