The subject is still under negotiation.
It having come to my knowledge that a corporate company, organized under
British laws, proposed to land upon the shores of the United States and
to operate there a submarine cable, under a concession from His Majesty
the Emperor of the French of an exclusive right for twenty years of
telegraphic communication between the shores of France and the United
States, with the very objectionable feature of subjecting all messages
conveyed thereby to the scrutiny and control of the French Government,
I caused the French and British legations at Washington to be made
acquainted with the probable policy of Congress on this subject, as
foreshadowed by the bill which passed the Senate in March last. This
drew from the representatives of the company an agreement to accept as
the basis of their operations the provisions of that bill, or of such
other enactment on the subject as might be passed during the approaching
session of Congress; also, to use their influence to secure from the
French Government a modification of their concession, so as to permit
the landing upon French soil of any cable belonging to any company
incorporated by the authority of the United States or of any State in
the Union, and, on their part, not to oppose the establishment of any
such cable.
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