Mr. SHERMAN. I do not wish to oppose anything that comes from the ComCommerce, but I dislike very much granting this exclusrve privilege for 14 years over all telegraph lines to South America and the West India islands, which is perhaps the only properway for a telegraph to cross the ocean. this now seriously considered, and by some supposed to be the best mode of conveying tele graphie communications by the French coast an the continent of Europe, and then along a series of islands including the Madeira islands to the West India islands. I should be perfectly willing to give these gentlemen the privilege of landing anywhere on the coast of lor ids, and all the facilities that are necessary, including the right to import their iron duty tree. I shall be [perfectly willing to do that, because they can O it by landing it at Cuba. I am told that a Spanish company have the sole and eminent; power to lau a cable in Cuba and we are now about to grant, the sole and exclusive power to an American company to land in America. The consequence will be that I have no objection to unless these 2 companies can agree no line will be built. As was stated here the other day when the bill was under consideration before, the 2 countries may thus tie up the hands of their people from building a line of telegraph between South America and the U.S., unless it should be conveyed around through Mexico, an impossible condition. It seems to me that the word “solo, ” which is the only objectionable features in the bill, ought to be stricken out. I cannot see, and have not yet heard. any good reason why it should be retained. If this company build their line and are in successful operation, it is not likely that anybody else willattempttobuild one. If it should be a ver profitable company, making extrava gant an exorbitant charges, it may e proper to invite competition. there is no limitation in the bill as to the price. They may charge without limitation the citizens of the U.S. for the transmission of ordinary mes sages, and I believe thereis no limitation asto the price of messages for the Government. It seems to me we ought not to grantapriv ilege of this kind. I do not wish to put my opinion against the opinion of the committee who have examined the subject. I conversed with some gentlemen who were engaged in the enterprise, and they gave me no good reason why they could not go on with the ordinary privilege granted to them to land on our shores without giving them the exclusive privilege. The only pretense of a reason they gave was, that as the Spanish company had exclusive privilege to land at Cuba, therefore they must have the exclusive privilege to land at this country in order to negotiate with them. It was not a satisfactor reason to me.