Mr. FESSENDEN. A gentleman interested in this matter called upon me this mornin and I had some conversation with him in reerence to the bill. It seemed from that conversation that the object was to prevent any foreign company from establishin and thus getting a monopoly of a telegrap ic station on our coast by means of the fact that perhaps we could not get the same privileges which we grant from an foreign country. I. told him that that could be reached very easily in another mode than this, whiclrwas so objection able, of granting an exclusive privilege for any given length of time. I said that if that was the object, which was all very well. I thought it might be attained in another way. I thought that proposition was satisfactory to him, but the conversation wsnot sufficiently definite on that point to enable me to say so. I therefore propose to take the vote again on striking out the word “sole” and to submit this proposition as an additional section:4 and be 2! sons, Abife: That no person or peror incorporated company, shall be permitted to establishtelegraphic communication between the U.S and any foreign country through the watersof the U.S. without the consent of Congress. If, as is supposed and may probably be true, the U.S. have that exclusive jurisdiction over the marine league which would enable them to exclude any person from it that they saw fit to exclude, a provision like this would answer the purpose. If a foreign company is organized an that exclusion should not take place, it might be that the fore company would have such control over the whole matter as would seriously affect our interests; but if we incorporate this company now, with leave to establish a telegraphic communieation, it will enable them to compete on equal terms with the foreign company and make such an arrangement as may be beneficial. If that is all they want, and it is all they ought to have in my judgment, this will entirely protect them, and no person or COPPOHHIOH, whether foreign or native, could establish another tel egraphic communication with a foreign country without the consent of Congress; and if it would not be reasonable to grant such a privilege to another company within the 14 years itweuld not be granted by Congress, and yet Congress would retain in its own hands the power to regulate the whole matter if it became necessary to do so. I therefore propose, in order to test the sincerity of the company as to the reason that they give for desiring this bill, and also to protect them thoroughly, to put in this amendment which I have drawn; will read it again; I think it is ample: Abife:, That no person orpersons.orincorporated company shall be permitted to establishtelegraphiccommunication between the coast.of the U.S and any foreign country through the watersof the U.S. without the consent of Congress. That, I think, will meet all they want and give them all necessary power, and at the same time it will leave Congress in possession of the subject, as they on ht to be.