July 31, 1848, were $34,835.14 „ 1853, „ 82,214.16 „ 1854, „ 79,683.73 „ 1855, „ 101,307.98 „ 1856, „ 102,151.78 „ 1857, „ 103,134.06 „ 1858, „ 98,097.73 „ 1859, „ 96,136.06 In 1848 the above company had a monopoly of the business between these places, but in 1849 two rival companies constructed lines over this route and divided the business with it. In 1848 the tariff between New York and Boston was fifty cents for the first ten words, and three cents for each added word; and to intermediate points twenty-five cents for the first ten words, and two cents for each added word. UNFORTUNATE EFFECTS OF LOW RATES AND COMPETITION. In 1849 the rate was reduced between New York and Boston to thirty cents, in 1850 to twenty cents, and in 1852 to ten cents. None of the lines, however, paid their working expenses from the time of their construction up to 1853. Even in 1848, when there was no opposition, the expenses exceeded the receipts by $1,199.00. One of the three lines was sold at public auction twice within three years after its construction, to pay the debts incurred in operating it. In 1853 two of the lines were united under one control, and an amicable arrangement entered into between the two remaining companies, by which the rates were advanced approximately to those of 1848, and they remained unchanged for the next ten years. AMERICAN AND EUROPEAN RATES COMPARED. In 1851, when the tariff between New York and Boston was twenty cents, the average French rate was $1.56, and the Belgian, for less than one third the distance, $1.56. In 1852, New York and Boston, tariff, 10 cents. „ French, average „ 2.25 „ „ Prussian, „ „ 2.35 „ „ Belgian, „ „ for less than one 1.21 „ third the distance, „ Austrian, „ „ 1.55 „ 1866, New York and Boston, „ .30 „ „ French, average, .83 „ „ Prussian, „ .65 „ „ Belgian, „ for less than one .25 „ third the distance, „ Austrian, „ .46 „