Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-09-21
VOLUME XXNV.-.-No. 80.
The people cr the State a. large are

words the Legislature pared that amount Of ths
canal tolls 70 the ordinary usfs of the Government.
By sc!s' qusn' Get. passed May 10, l>6. the Legs
aru-e Ucr. sd this annual sum from $3.50 eco TO SuO,
COO bn, Prssby for The purpose Of q ling constitutional
sCrgp'cs the phraseo!oEV Of that law directed the on
missorsrs UC the Cana Func 10 ban" that sum
ally o the Treasury of ts Stair, FIR The and be-
neh Of the General Fund; onG the prol!eT was d.
iec'ed 10 charge the General Fnrd "as debtor, by
such loan 10 the Canal Fund 1t rather 10 be regret
ted that should have bern thought proper necessary
10 throw the transaction into tins fvrm. Il the Stats
owned the tolls irce from the sncu5rance OF the pub
lie cr;dtor Necessity existed Tor this legislative c.
ton II It did not the pTop!Iey % sbslrsc,ng the tolls,
under the guiss Of a loan the General Fund. ~ hct
fund existed only The canals thtmEevesl may well be
Curs0nsd while the fact OF charging the State
the General Fund ofbtor. for the aaoant Of the
tolls. calculated nesdesSy 10 rernIex he public
mind in regard 10 the true state OF the finances
is tEer fore quite evident that the tolls of The canals
have been brought fully within The reach of The Legs
aiurr and the very important question then arises, ic
what mode shall Ihry - appropriated, n"sl eIec
uGlly 10 promote he progress Of the public works:
~ the acts Of lc33 and l-3G, the tolls after de-
ducng 800 coo Annually. tand &C which sum about
one hall IS applied IN psyng the In,eFss; on the debt
for .tera canals have been appropriated 10 the enlarge
ment Of the Ere canal The Of that enterprise,
originally estimated At $4,000 600 will 20, probably
fall short Of $j COCOON that II! only the ns
(n"w amounting rs It rs above shown, to S71T,-
l-} shall be applied to that purpose, the work cannot
BE- completed short of twenty years: and during the
Inch could be aided ~ this revenue IN props-
scheme OF finance were 10 be adopted.
The policy end the plan Of eH!aIging the canal, hav
been definitely settled ~ the Constituted authorities
ana after mature consideration. Expenditures have a.
ready been incurred in prosecuting the work 10
amount exceeding $500 D3, und contacts have been
made in sddon the extent Of nearly three mllli0ns
The IDEA Of abandoning The undertaking. # It
WIRE desirable therefore quite out o.. the question
The committee moreover satisfied, that the sneedy
en's Of the canal required W e besc a;e
rests, only OF the inhabitants IN It's immediate vlci
nlY but 81 the people o! every part n! the Slate The
Commissioners their report 10 the Legs
a,ure have estimated It's annual tolls w:tbIn Few years
after shall he completed. no less thsn hae millions
dollars, equivalent to annual income OF FIVE per
d capita! Of Silly millions and that Of this largo
revenue at last hall wII be paid upon properly
passing and from other States II is quite evident,
that such will enable the STATE after making
the mos, iudicous revision Of The rates Of toll, scIcnd
fostering aid every portion Of ;s territory however
remote or seausstered To secure such G with
the sas; practicable delay therefore an object Of &C.
neral importance.
The canal when enlarged, will oe greatly increased
in value and power and III point Of magnitude will 30
one Of the important works, not cEiy Ct Thu. cOUn.
tv out of The age It's capacity exceeding that Of the
pfrs-nt canal hast old-b"ing feet deep
and feet WIDE wish double locks o'sn d.
mems ons throughout the whole Iae,it will furnish the
means Of transit for not less than mil.
lions Of annually The suppl Of will be abGn.
tln and untang and the enlarged size OF the boats by
poT,auu nearly half; That If the tolls should
bs retained their present rates, the saving TO the
murY IN hr aggregate PPnse ni conveyance would be
from one fourth third of the paid 4
must Do borne mind. however, that IN eject this
Inr the rseeit must re completed throughout the
hols line lvuiQ r cXpsns. and delay Of trans
shIpmept-and from this fact IT will be obvious, that i'm
polant financial consequences are involved It's spaady
prosecution. By proper effrrs tie enlargement may Be
cnrpeted and De liable within five wears the
expiration Of that period the interest, OF FIVE per cent
compounded halt yearly. the cost OF the work lest:
mating fifteen mltlrns will amount to ABOUT two
millions and half of dolars whereas. If the compile.
ton shall be delayed twenty years, the Intervening
tees alone will exceed nine millions showing !oes Of
interest by proceeding the present uCg:s rate. Of
least six and half millions Of dollars which %!
Itself would go far xend the benefits OF internal m
prnvemenl 10 every other section Of the State.
In order thus to expedite the work II Will become ne
cess,rv borrow money and incur temporary debt.
That this suggestion viii alarm those who r@garta pub
nc debt as the greatest NJ oil public cs.nes, not I'M
prrbabI+; and very possibly arouse opposition.
violent that which arraysd against our canals IN
their earlv stages The hope Is however INDUCED ha.
the successful example furnished by that great expert
nlsut will grOauGless fears and impart 10
public counsrS that degree 0; moral c0uiags which The
uccs requires
Our fathers cd not hesitate encounter Gstt even
when the u paying the interest were unascer.
,,n.d and contingent, and surely upon
similar effort that we certain that the revenues
oil the State vii suffice ~ pay he Interest The p:ess o..
annual Of the state, after paving
prnses and the interest on It's debt, 1cTlc3 above
stated That alone IS ~ the annual interest at
FIVE per centum on 3Ii3 too aud that snIouGt
therefore be Borrowed and expended, and the interest
punctuaiY met without taxation. ANY Augmentation
which shall bS experienced (ebcT By means o! die
pr ndIture sum- from ay other crusel ms
revenue OF the canals Will itself increase 10 CORES,
bonding extent the ability Of the Sa'e further 10 b"rrow
and pay interest II evident that every $500 600
ri revenue Will serve basis oil finance TO sustain ten
debt III the estimate Of the Canal Commits
suners correct, land from their wall known caution
their opinions 10 this respect are peculiarly entitled to-
confGence) that the enlarged Erie Canal will yield an
annual OF thee millions, equivalent 10 hive pr
cont ON sixty millions, it viii at be obvious that
sum of thirty millions may mol only be borrowed, oac
e,Dendrd but wholly reimbursed. within twenty years
or that forty million. 5e borrowed expended aud
reimbursed. in twenty eight years.
Nor need II be- appshe ended. that IN order 10 produce
these immense results, the tolls OF the canals must be
narutsined at Oppressive Or injurious rass During The
wears 1888 1884 ard ESD the RATES were reduced Ia The
aprreuac about 30 per cent and yet 1fng these three
years the tolls amounted 10 81 2y9 G; whereas IN the
three wears nrAt preceding thu reduction they had
amounted only 50 lc5 go exhibiting increase Of
upwar Of a million ot dollars The responsible duly
of regulating the tolls 10 bS imposed upon the great and
almost IIIIm.abe trade winch canals arc 10 enJ1y,
and of fixing the rates udIcousy best promote
our commercial and agricultural prosperity and al tho
time adequately 10 strengthen oar h.caFesoaf1fs
will undoubtedly b. exercised with that prudence IT.
beralily and forecast which the magnitude OF the sub
ect demands Whatever rates Of revenue may be event
usy adopted. may ss!ely asscne 'nai the stale VILE
TAKE care s.ich amount Ia The aggregate as
the interests Of IFS Treasury and he general welfare Of
It's citizens shall require.
The committee therefore, have no hesitation IN re-
commencing that State praceed promptly to borrow
such moneys nrecrd 10 prosecute most 'Sof'usy
II. publ. works and IN len OF apPToPFauns tie rs's-
nue. only of the pe-en canals for the purpose OF making
rct ,osudrrrrs as The general interests require they
w.d suggest THAI the State should retain that revenue
as sinkirg fund 10 pay The interest on all moneys
NAV borrow from Time 10 tune, to prosecute and pe.Sct
liberal system Of internal improvement.
IL is nat lhs appropriate duty OF the present commit
toe 10 point out those particular works which stand