The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1841-09-03


learn from advertisements of the Canal Commis-
-oncrs, that, on the Goth of next month, tory-sir
sections Of that work are to be let, the contractors
receiving in payment for their contracts, State
Bonds at par. We also learn that, TO accomplish
this end. Gov. CarIu has agreed to place iii the
hands OF the Canal Commissioners, State Bonds
TO the amount Of scUlUteR huEdyJd MVE0Rd dbl
ilrg.
Confident that no man could take a contract on
the Canal at u fair raie and receive in payment
state Bonds which are at a discount of iouy-iyc
cents on the dollar, we were led to the enquiry
how the lettings could he accomplished, except at
rulnous rates to the state. The result of our IN
qurlcs Is, that these iorly-siX sections were sur
ycyed and estimates placed upon them, about five
years ago at prices rs eXtravagant as every thing
else was in this country at that time and that a
majority OF the Commissioners are IN favor, should
the lettings not be completed or consumalcd hy
competition or the 10Th Of next month-as there
is no likelihood they will bc-of letting these
tons to a ayortc clique Of the party At the Cnor-
nous rates or estimates put upon them by the
Engineer at the time Of their original survey,
when in fact the work cgR be- dane for about half
the then estimated cost. We further learn that
II the fory-slX sections are let at those estimates,
/ it will result in clear loss of the State Of up
] NdIiS % tt-Nt NIiIfiftN lN|li'hItu NN'tufN.
/ We cannot believe that General Jacob d. Fry,
who was elected last winter by the Wigs of the
/ Legislature as an honest, faithful and competent
officer will ever consent to n course Of this kind.
/ And it is due not. only to him, but to his numer-
Gus friends in this section of the State that his po
slion should be dgfucd and haglcn, in regard to
/ this matter. We should like to know if the ru-
nors above referred TO are truc.--Nhat the orgi-
nal estimate of the cost Of these fory-slN sections
was--whethCr the same work cannot now be let
/ for a hundred per cent less for prompt pay
whether 1t snot the design Of the Commissioners,
or a majority of them, 70 let these torty-Sx Sec
/ tons at the original CstlmatCs--and whether, if
they do. It will not result in loss to the State of
100000, or thercahoutsl Thcscinquircs should
be answered Immediately and satisfactorily; and
as one of the friends OF the Canal, we demand it,
We desire 10 sec that great work accomplished
at the earliest possible day, consistent with our
embarrassed condition; but are opposed to see
the state swlndlcd out of some 100000 to APP
pcasc the avarice of few political desporadocs,
who, to accomplish their self purposes, would be
willing to plunge Us into the very abyss Of pccu-
mary ruin and distress. We repeat, we should be
greatly gratcd as personal friend of Gen. Fry
If he would solve the mystery that now so appa-
rcntly hangs round the contemplated lettings of
the 10th Of next month.--Ak@l 1ttgraph
or In answer to the enquiries of the Alton
Telegraph, we have bat to say that the awfui
rumors about the canal letting are entirely UNI
founded. 1t is not the design OF the Commissio-
ners to let the work at the original estimates; nor
is it their desire to let it to farorite clique of
the party"
The work has all been relocated and ic-cstima-
ted by competent corps of engineers, under the
direction of the able and efficient chief engineer,
WILLIAM GooDING. The estimates made are
CASH estimates wthou, any regard to the kind
OF pay the contractor is to receive, and are much
less than the former estimates; and we can inform
the Alton Telegraph and all others DESTROYS of
knowing, that the State will not lose SSOO,OOO bv
letting this work--nchcr will she lose one cent.
II the State promptly pays the interest upon her
bonds, they will steadily continue to advance un-
I'll the contractor can realize eighty or cghy-live
cents on the dollar; and when they once do this
the contractors can easily progress with their
work, as produce and labor bear proportional
deprecated price with tho bonds. Whilst our
bonds are below par money remains scarce and
prices low. AS our bonds rise to par our iacili-
ties for procuring money become greater, and
consequently labor and produce are worth more ;
so that, in fact the contractor performs no more
work with his bonds at par value, than with the
deprecated bonds
Again The community all feel that interest
in the progress Of this great work, that they offer
every facility in their power to aid in its compile
ton, by extending long credits to the contractors
and selling at low prices, which they would not
do iitho State was in funds.
The Telegraph appears to be under the i'm
| preston that the contractors who receive bonds
of the State, are compelled to sell them at their
market value but this is no, the case. The men
who are carrying on their work, and those who
are willing to take more, are men of captal--
who have means of their own to complete their
work, without using u dollar Of the funds thew
get OF the State.
| Is 1t not good investment for men who have
the capital, TO take work aud finish it, aud &c,
bonds bearing interest at six per cent per annum,