to Mr. Fish.
Quito, Ecuador, August 10, 1874. (Received September 9.)
Sir: Herewith I have the honor to forward to the Department three clippings from the Panama Star and Herald of July 25 ultimo, bearing upon the important subject of the commerce of the Pacific coast.
No. 1, I am gratified to observe, shows the improved condition of the Pacific Mail-Steamship Company.
No. 2 evinces that the Royal Mail Company between Liverpool and [Page 397] Aspinwall is beginning to compete successfully with the Atlantic connections of the English steam monopoly on this coast.
No. 3 portrays a state of affairs which is somewhat surprising, in view of the previous enormous gains and dividends of the Pacific Steam-Navigation Company; and in my judgment may be attributed in large part to the fact that the recent French line on this seaboard must have interfered more materially with the business of the English steamers than was supposed at the time.
I have, &c.,