The Government to pay forty thousand dollars for each and every trip; and to exact ample security for the faithful performance of the contract, besides taking a lien on the ships for the repayment of the sums advanced. The contract to continue 15 years from the completion of all the ships. To assist in forming a correct judgment as to the fairness of this compensation, the committee present an estimate of the probable cost of running the said ships. The cost of the ships at $900,000 will be $2,700,000. Upon this amount, interest should be calculated at 6 per cent.; for, although the contractors will pay the Government but five per cent. on the portion advanced, the balance supplied by the contractors, must be estimated at the rates in New York and New Orleans, which are above six per cent. Six per cent. will be a fair average for the whole. The depreciation of this kind of property is estimated variously, sometimes as high as ten per cent. per annum on the total cost; but as these ships will be substantially built for war purposes, it may be estimated at a lower rate. Besides this, an allowance must be made for repairs. New boilers will be required every six years, and the substitution of these for the old ones not only causes loss of time, but also injury to the ships involving much expense. The rate of insurance for this species of property is high. The committee are informed, that the steamships Ohio and Georgia pay 8½ per cent. Add the expense of running the ships, viz., fuel, wages of the crew, provisions, stores, dock charges, harbor dues, agents, pilotage, light-house dues, &c., which cannot be estimated at less than $50,000 per voyage, considering that the distance to Liberia, and thence home, via Madeira, Gibraltar, Cadiz, Lisbon, Brest, and London, is about 12,000 miles; and that each voyage, with the necessary delays in the various ports, will occupy about three months. _Statement of expenses._ Interest on $2,700,000, at 6 per cent. $162,000 Depreciation and repairs, 10 per cent. 270,000 Insurance 7 per cent. 189,000 Cost of running the ships, $50,000 per voyage, 12 voyages per annum, 600,000 ---------- Total annual expense—$1,221,000 _Profits._ Estimating 1500 passengers for each voyage, and 12 voyages per annum, we have 18,000 passengers. These, $10 for adults and $5 for children, may average a profit of $3 each, making $54,000 Government pay 480,000 -------- 534,000 -------- Balance of expense over Government pay and profit of emigrants $687,000