Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1826-05-30

Thus discharring the whole of the national
debt, Except thirteen and aquarter millions OF
| per cents. redeemable at the pleasure OF the
Government in " years, affording, In the mean
time, eighty-nine millions SIX hundred and sixty
six thousand seven hundred and thirty-four dolls
forty eight cts to objects of internal improve
ment, which if vested in stock in roads s canals,
yielding per cent per annum, lhtue more
than half the receipts of the New-fork ca
nal,) it would yield an annual revenue to the
Treasury, of four million four hundred and
eighty-three thousand three hundred and thir-
ty-six dollars seyenty-two cents, equal to hall the
ordinary expenditures of the Government, and
which would add an equal amount to the annu-
al surplus applicable to these Objects. On
thirty canals in England, the tolls averaged IN
1912, 80 per cent. per annum, and the STOCK mad
risen in value 600 per cent. per annum. Inc
Loughborough canal yielded ITO per cent per
annum; and the stock, originally llooper share,
was worth $4,000.
1t may not be improper here to remark, that
the result, as stated in the foregoing table, is
produced without counting on any increase OF
revenue from tolls and from the increase OF our
national wealth and population, or any dlmunl-
ton of expenditure from the extinction OF the
pension list, and the completion OF the fortllica-
tons and other public works, which Will short
ly be accomplished, now requiring several mil
lions year. The Committee, however, cannot
concur in so much of the plan proposed by the
Committee of the Senate as contemplates the
distribution of the surplus revenue among the
States, without retaining any control over us
application and expenditure: Congress certain
ly ought at least, to retain the right OF select
ing objects within the States, on which their
money should be expended. The proceeds OF
the tolls, however, might be divided among the
States according to population, to be applied to
purposes of State improvements. The Com
mittce object especially to the plan proposed in
the Senate, because it would put 1t out OF the
power of the Federal Government TO discharge
the duties which it owes to the nation, by pro-
viding for the construction OF such roads and
canals as may be necessary and proper Tor the
regulation of commerce between the several
States" "for the common defence" and Tor the
transportation of the mail; which are several
w enumerated in the Constitution, among the
powers and duties Of the Federal Government,
and which it is bound to execute and fulfil to the
extent of it's means. But if the whole surplus
revenue be absolutely surrendered up to the
states, the National Government can accom-
plish nothing, and Of course, great national OBJ
iects, such as the canal under consideration,
will remain neglected This canal is an internal
concern of no State vet it is calculated to unite
and benefit all the States; the internal naviga-
ton which it opens from the Chesapeake to
ew-Orleans, will wash the shores OF nearly
half the States in the Union, and receive IN It's
course the produce of several others, whose RI
vers flow into the Potomac, Ohio, or MississiP-
p; vet il is external to all these States, Except
Pennsylvania and of course these individual
States have neither the power, or perhaps dis
position, to devote their means to 1t, when other
--j--+S. internal. and of course more interest
ing to them, Claim preference.
The Committee now beg leave briefly to pre-
sent some of the most prominent advantages
which the accomplishment Of the Chesapeake
and Ohio Canal promises to the United
States, and which, in their jud gment, will am
ply compensate for the cost of its construction;
and
LIST. lis advantages IN q political point Of rie,c.-
For their views on this branch Of the sub ect the
Committee will merely refer to the arguments
and views Of General Washington, already
quoted and to the following extract from the
Report Of The Committee of Roads and Canals
at the last session of Congress, in which they
fully concur; when referring to the. Chesapeake
and Ohio Canal, the Committee say, "This OBJ
sect, regarded as the most important and ma
"tiona, was the first to claim the attention of
"the Executive in carrying into effect the provi-
"sions Of the law of the last session, to procure
Surveys, Sc; and the able Board of Engineers,
"who have given the subject full and careful
Denomination during the last Summer, have
'pronounced it perfectly practicable, at an ex-
"pense small, compared with the magnitude
''and importance Of the object This work,
"whether regarded in military, commercial,
cor political point Of view, is equally important.
Passing through the centre of the Republic,
from one extreme to the other, opening an in7
Eternal communication of more than $500
"miies, allowing at once powerful bond of the
"Union, with every commercial facility iii time
"of peace; and in war, the most efectual means
"of national defence. Besides its immediate
connection with the seat Of the National Go
"usynmeni; its central position; the great extent
"of inland navigation which it opens, touching
sin its coure eieoen States of the Union; and
furnishings vent for the produce Of several
"others. The shortness of the canal by this
route, connecting the Atlantic tides with the
Steamboat navigation Of the west at Pittsburg,
being les tian $50, and to Lake Erie, less than
"45o miles,
"These Considerations, together with the ge-
"neral and titfusive nature OF the benefits to re-
| oSult fro,,, ,,o,l, nEeripu adyanfa