The British Press; or, Morning Literary Advertiser.
London, England, 1825-08-17 00:00:00

At the two extremities harbours will be constructed, and, as
will be seen by the evidence. these harimurs will not only secure
to vessels using the Canal safe and commodious entrances to it,
but will be of pest service to the Shipping Interest Fe iorally, as
Asylum Harbour', and will also prevent an immense Wm of lives
and property. The proposed harbour at Beer will, in time of war,
be of incalculable advantage in preventing captures by the enemy's
onisers.

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The total expense of forming the Cans! and Harbours, and of
nply providing for ever] contingency incident. to mach a wok, is
. .

okih. @ aollea ra t-6--itais allowed for each iliatinct part tithe
work a aum at which ha can immediately find parties willing to
contract for it.

The sources of a revenue, proportioned to this expenditure,
established by the evidence of competent and respectable witnesses,
were arranged under the following heads : Tons.
Ist. The supply of coals to the whole extent of emmtry
bettering upon the Canal, and fora considerable dis.
tante on each side of it, including the towns of
Honiton, Taunton, Ihninster, Axminster, Chard,
Crewkerne, Yeovil, Colyton, Langport, Bridge.
water- and others, taken only as one-half of the esti-
mate, w 45,000 tons, and groceries and other goods
at 15,000 tons - - - - 60,000
2d. The like supply of coals to the southern parts of
England, taken at one-half only of a reduced esti.

mate
3d. Tonnage of limestone for paving, building, &c.
4th. Tonnage of ships trading between English pone,
passing through the Canal, taken at one-half of the
tonnage of vessels at present navigating round the
Lands End, as appearing by returns made to Par.
liament for the purpose of this calculation -
3th. Tonnage of foreign vessels using the Canal, taken
at two-thirds of the amount ascertained by the like
returns 127,868
Ith. Tonnage of British vessels trading to foreign
ports, taken at one-half the quantity, ascertained by
like returns 89,010
7th. Tonnage of vessels trading from Ireland to Bri-
tish and foreign ports, taken at one-third of the
quantity, ascertained by like returns 83,312

500.000
30,000

Total tonnage
At a charge of 1.1. per ton per mileon an average,
the above tonnage •ill produce, for the whole
44 miles of Canal, a gross revenue of - X 200,846 12 4
Add a tonnage rate, to be levied on all vessels
taking refuge in, or using the proposed har-
bour, and also en vessels proceeding along the
Canal, to Bridgewater and the river Punt.
The amount annually from these sources may,
OD an average of years, be taken at 10,000 0 0

1,095,327

Clear annual income arising from the Canal and
Harbouts, and applicable to a dividend among
the proprietors, of about 12 per cent. - 210,001 12 0
N.B. The expenses of management, repairs, and every other
contingency, will be provided for by the tonnage arising on the in-
ternal traffic on the Canal:

In the above calculation no allowance is made for the vast in.
grease of trade which is annually taking place in South Wales. and
to which this undertaking will moat essentially contribute; nor is
arty tonnage reckoned in coal brought from Wales to London ; the
Stone Coal and Culin is however already used there, and on the east
coast of England ; and there Is every reason to expect that the com-
mon Welsh Coal wUI find its way to the London market, when a
safe and regular mode of transit shall be secured.

The consequent increase of trade and manufacture in the fine and
populous country through which the Canal will rase, presents*
prospect of additional revenue to a very considerable extent; and
in the great Northern Canals, which have proved so immensely
productive, that increase has been the great source of profit. It
should here be noticed that a recent negotiation will allow the Cur.
partition, at a very moderate expense, to make a branch Ship Ca-
nal to the populous and wealthy town of Taunton, and that a junc-
tion with the Grand Western Canal will, by the saws means, be
effected.

It should also be noticed. that although in the event of a war the
transit through the Canal will be very materially augmented, the
additionallimeome to be derived from that event has not been tan
into consideration in the above estimates.

The Committee, therefore. conceive that this undertaking cannot
be considered of a delusive or even of a doubtful and hazardous
itharseter, but a measure affording to the subscribers every reason-
able easurance of an ample present profit, and the additional pro.
rake of an income incensing with the advance of national prospe-
rity.

Tts esplital of 1.750,01101. is directed in the Act to be raised, by ,1
sham of 1001. each. No shareholder will be liable beyond his
shares, and his liability au future calls in respect of such shares will
owe immediately on a transfer ; the Act directs, that two months
at the less shall intervene between each call, and that no call shall
exceed 5 per cent.
A General Meeting of the Subscribers will take place To.morrnw.
to elect Directors, and make the necessary arrangements for the
commencement of the work ; and the Conimitt^e regoest that all
communications, in the interval, may be addressed to Messrs.
King and Lukin, 4, Gray's Inn.tquare ; and Mr. Clarke, Chard,
llomeraet.