ates of all future discretion as to the
increased service and compensation, whatever changes may occur in the
art of navigation, its expenses, or the policy and political condition
of the country. The gravity of this objection is enhanced by other
considerations. While the contractors are to be paid a compensation
nearly double the rate of the original contract, they are exempted from
several of its conditions, which has the effect of adding still more to
that rate; while the further advantage is conceded to them of placing
their new privileges beyond the control even of Congress.

It will be regarded as a less serious objection than that already
stated, but one which should not be overlooked, that the privileges
bestowed upon the contractors are without corresponding advantages to
the Government, which receives no sufficient pecuniary or other return
for the immense outlay involved, which could obtain the same service of
other parties at less cost, and which, if the bill becomes a law, will
pay them a large amount of public money without adequate consideration;
that is, will in effect confer a gratuity whilst nominally making
provision for the transportation of the mails of the United States.

To provide for making a donation of such magnitude and to give to the
arrangement the character of permanence which this bill proposes would
be to deprive commercial enterprise of the benefits of free competition
and to establish a monopoly in violation of the soundest principles of
public policy and of doubtful compatibility with the Constitution.

I am, of course, not unmindful of the fact that the bill comprises
various other appropriations which are more or less important to the
public interests, for which reason my objections to it are communicated
at the first meeting of the House following its presentation to me, in
the hope that by amendment to bills now pending or otherwise suitable
provision for all the objects in question may be made before the
adjournment of Congress.

FRANKLIN PIERCE.

PROCLAMATIONS.

BY THE PRESIDENT OF THE UNITED STATES OF AMERICA.

A PROCLAMATION.

Whereas by an act of the Congress of the United States approved the
5th day of August, 1854, entitled "An act to carry into effect a
treaty between the United States and Great Britain signed on the 5th
day of June, 1854," it is provided that whenever the President of the
United States shall receive satisfactory evidence that the Imperia