The pilot. [volume] (Baltimore [Md.]) 1840-1840, 1840-04-15

One-SeVentn, 10 reach OutuucIldHu1 eICtHUHS
interest, 50, 100000.
II thus appears that the six-sevenths of the
finished canal, costing $40 100000, must con-
tinue valueIess and reproductive 10 The stock
holders until the remaining one-seventh, that
VIII cost 50, 5000 shall have been construc-
ted; and. further, that the delerring Of the COM
pletion of the canal, for any length Of time,
does, in effect, add to its cost the interest for
the same period on the 100000 already ex.
pended.
To enter more into detail
LIST. Tie total suspe nsion Of operations up.
on the canal that must follow the recent fail
ure to obtain a further subscription from the
State of Maryland renders it certain, even if
there should be every thing done by that State
nextyear that can be asked for by the compa-
nv, that the canal will not be completed TO
Cumberland in less than four gears from this
time. II might easily have been finished in
t,uo gears with rate of progress through lS4O
and until completion no greater than in 1888
and 1889. The amount of work done in 1888
and 1889 somewhat exceed $4,000 600, while
the work to do 10 finish the canal on the LIST Of
January, 1910, was So, S60,0J0)
| Irepeat, the gradual lessening Of operations
| for few months past, and the total suspen-
sion work for one year, for want OF means,
will add t,Uo gears to the time required for.the
completion Of the canal TO Cumberland, even il
Maryland, year hence, should do all that the
friends of the canal can then desire.
There is evidence that cannot be questioned
to sustain the assertion just mace. 1t will be
recollected that, five years since, when the ca
nal was finished upto dam No. 5. there was a
total suspension of work for upwards Of a
year. During which time the company was in
| L.. i b,I oto. nj
" raise the means TO pay the laborers enga-
ged upon the repairs. In the springof 1885
| money was obtained for the further prosecution
of the canal, but with every effort that could
be understanding abroad for laborers, and
paying high wageS-there was less than AGO
600 of the work done within the first year ai-
ter the resumption of operations, (including
the time required for letting of the work,
and less than 100000 in the second year, and
| it was not until the third year that the amount
a little exceeded 81 100000 per annum; since
which time the rate per year has been rather
more tnan 100000 dollars.
Apply the above facts to the present case
upon the supposition that sufficient appropri-
alton will be made next year, and we have:-
Work done first year
second year $500 0OO
third wear 100000
| fourth year 100000
and in the next five months, say 100000
Making the amount that was to do
on the LIST of this month So, 100000
! Instead of the four years and five months
| that would appear from this calculation to be re-
CURED to complete the canal TO Cumberland,
we have named only four years, To be rather
within the time, and we are confident that we
are so, even allowing that circumstances may
be somewhat more favorable for resumption
of work year hence than they were five years
ago.
Having referred to past experience in sup
port of the assertion that total suspension OF
work for one year is equivalent TO deicrrin9
the completion ofthe canal to Cumberland for
four years, will add, that in my opinion no
other result could reasonably be anticipated
1t is with public works as with individuals:
those tina pay promptly and give regular en-
ployment to their labOrers can do work at con.
siderable less cost than those who pay badly
and whose hands are much of their time idle.
In this respect our canal has suffered greatly.
| The frequent embarrasSmenis OF the company
and inability to pay promptly its contractors
have OF late years, proven ed many responsible
contractors from distance from entering into
competition for work at our public lettings;
and, owing tothe same causes, mechanics and
aboring men prefer employment elsewhere.
| Let contractors, mechanics, and laborers be
again driven in a body from the line, and fore
ed to seek employment on other works, as
must be the case upon suppending operations.
and they will not easily be induced TO come
back, and only at high prices. Thus it was, in
the instance referred to, five years since, after
a suspension for want of MEANS and when the
company had been for long time in very bad
credit; and so, am confident, will it ever be
under like circumstances. e
Cd. The suspension corporations at this time,
is to be regretted in another point OF view
The presentisa remarkably favorable period
for doing work economically. Labor is now
butS7. cents per day, in place 81 25, the
price paid year since. Let one year be lost,
or rather two years, for that, in effect, will be
the time lost and the Canal Company may a.
gain be forced TO carry on this work at high
prices. But, even if wages throughout the
country should remain as at present, such will
be The demand for labor upon the canal when
resuming work, and such will be the difficult
Ties to be encountered in bringing labor back
to the line, in consequence Of past difficulties
and q want Of confidence in The company, that