The Illinois free trader. (Ottawa, Ill.) 1840-1841, 1841-01-22

fail to result injuriously.
Paper number four a. attached TO the
secretary's report, exhibits the quantity,
description, prices and purchasers of the
lands sold at the late sale; and the trea-
surer's report shows that the amount of
sales for which certificates were granted,
was S6O,775 57--the cash payment be-
ing 81 1897 06 in scrip. AGO acres Of
wood land averaged SIP 81 per acre !;
and 7043 acres of prairie averaged So 6l.
No more could be sold, unless by reduc-
ing the best selections to Il third Of their
intrinsic value; and such n sacrifice,
without pressing necessity. would be as
preiudcial to the future negotiations Of
bonds, as unjust to the people of the
state. among the many onerous and re-
sponsible duties imposed upon the COM
missioncrs, none have been more difficult
Of execution than those connected with
the protection, improvement, and sales Of
property. In every collision Of interests,
If the state insists upon hcr.rlghts, unrea-
sonablc individuals are apt to be displeas-
ed; and if their displcasurc could accomp-
lish their objects, it would he in vain to
expect that the manihcent donation of
Congress will afford any material aid in
the construction of SO great work. 1t is
the interest of large number of citizens,
who have settled or intend settling on the
Inc of the canal, to have the lands and
water power sold early and at low prices;
and strong disposition has been constant
ly manifested by few, to throw obstacles
IN the way of building up state towns,
and creating manufacturing power, which
they view and denouncc rs an opposition
to individual enterprise. But the true
policy Of the state, like that OF her citizens,
is to sell her property to the best adyan-
agc, and where she has improved 1t, to
claim the benefit Of the Improvements
without regard to selfish complaint, espe-
cially as the people have been uniformly
assured that the National appropriation
would finish the canal. This can only
be done by 4 stern perseverance III sccu-
ring to the state every source of profit to
which she is Justly entitled. The lands,
towns, water power coal mines and stone
quarrics must bring their iAprorea worth
or they will not be sufficient to pay the
current interest and discharge any consl-
derablo portion of the debts. On this
subject, the Board remain firm III the
j opinion, expressed in their first annual
report, and repeated in several others,
that irlhesc lands and town lois be grad
ualIy and cautiously brought into market
r,scrying the chief part until the canal
shall have been completed, and all It's ad.
yanagc5 clearly understood, there !.
enough to build i, ON It's present capaciou'
and permanent plan. But on the contra
ry, if sales be forced before their true val
ne be known, there cannot fail to be :
deficit Of several millions"
The receipts into the treasury from
Z sales Of canal property, in cash instal
mcnt and interest on debts were $50 ,
$50 81 on the LIST Of Dec. 1889 ; t.
which has been added, this year the sun
ors2t ESQ so. Making the total amour
IF money derived from property 500,
0 5G7 - The "biIls receivable" or cyi
= dcnccs Of indebtedness to the canal fund
: for credit sales as reported at the close c
u las, wear. amounted to sIOl7.5il SO an
|, has bccn Increased this wear to 81 ,Opt, 57s
III * or his amour, something like fou,
c fGhswere taken in paymcnta the Chicag
ri s,Ics in ls3G when speculative prices S
3. FAR exceeded the rca value of property
e a,r,;cnI,rIy ,bo,c. ,s ,o iniure the Greot,
!, nor, AMI r,;, m,pv If the purchaser,
+, Sovor,I cv,ons;on laws have been passe