The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1841-10-02
10 TIL. PEOPLE OF MARYLAND
NO. VIZ.


Early in the veg. 1885, by reason Of
sthe Slate Cog,>nment's interference, for
asoucd pary proposes the Chesapeake
Ind On Canai Companv's board of dir.
.c,o- was changed, and the Hon. Frma-
c.s Thomas was elected tic President
II the greet diish." Ii is, of course, far
beyond the scope of our present design to
examine and expose mr. Thomas's ex-
.raordi airy mal-administration of the af-
"talrs Of The Chesapeake aud Ohio Canal
Company We can do DO moro than coca
sionaI!y refer TO the voIuminous positive
evidence ol it, for purposes of illustra-
zion. lpon The meeting of the General
ASsemb Of December session 1899.
there being large majority OF Var Bu-
.ren delegates in the House,) the devel-
"pemenl W IS very carly made that, under
Mr.Ihomas's auspices, there had been a
most inexcusabiy rapid sale, ard corsc-
tluent rulnous sacrifice, of the States
bonds, some of them having been sold as
Low as S57 j the 500, il the New
York market, and that, Notwithstanding
these forced sales, for the first time the
Canal Company declined paying the in
Gerest $3.50 ,OGG) due Ist OF January, lS40
ON the States loans, to the State Treasury
The disclosure of these facts filled the
State Treasurer ar. Mckubin) and the
members of the Legislature with ''amase-
rlnent and dismay." (Treasurer's letter,
Vol. Pub. Doc. 1889, State Library.) The
Development was further made that the
State 3 per cent, lends issued to the COM
,aany.Jtc ter Mr.. Thomas became President
under resolutions Nos 26 and GS Of 1897,
and the acts Of 1858, chapters 3S6 and
1895, to the amount Of S4,575,000, had
iAeeE resrlv all exhausted, ard that g.
1l0,222 mere were necessary to finish the
-canal.-CThomas's report to the Govern
or, Vol. Pub. Doc. 1899, State Library
The development vas further made that
Mr. Thomas had introduced into the man
.agement OF q company that had hitherto
been the nHrseling Of the mhole People,
the most ruthless, vindlctive party spirit,
turning loose fruitful, raluabie and ac-
Dcomp!ished oGcers and agents, to make
room for .taroriic pdriizaas. In its testi-
mony, under oath, before the Committee
al Internal improvements. Doc. sess.
1c4g, Mr. Thomas says-"Thc under
signed will ,ay for hmselt,-for others he
lsnot authorized to speak-hat his party
,pncpi7'c'icns are so decided that he ,cili
nat ctaim to be altogether free from po-
Mical considerations in the management
of large public corporation by the good
,or bad management Of which the interests
of all Maryland are to be materially al
lected. lie haa s,r""''.' :, 80
his party preferences are founded IN pa
.&,sci;; he has promotsd his parly, he SER
we'd well his country The dcyelope~
ment was further made, that Mr.. Thomas
had, "ithoW authority, nay, IN The rery
teeth Of adrices to the coniruyn drawn
bills upon MIR. Peabody, the Company's
agent i'll LONDON, for large amounts ofmo-
ney, III consequence whereof large por-
ton Of the States bonds were forced into
the market, and sold at the most calami-
tous sacrifices, and another portion hypo-
thccated upon system which the Inter-
nal Improvement Committee of 1910 has
characterized as "deplorable" and slran-
tic" Mr.. Peabody, in a letter addressed
10 Mr.. Thomas, dated London, July 9Th,
5o40, thus expressed himself "Your
bills, as advised, amounting to ElS,l7l,-
l4S sterling, shall be duly honored but /
must beg you tor The present to decline
dra'cing for more. Unless favorable
change takes place in the money and
stock markets, do not expect to be able
to sell even that amount of MARYLAND
Bonds before the acceptances mature, I'M
less i submit to uery low price indeed,
and this should much regret, as it wonId
have most injurious effect on subsequent
sales, and do hope my necessities will
net require me to do So" Copy from the
siles Of Senate, Nd. 1880 It was after
this advice, to wit, on the 10th day of
September following, when the stock and
money markets had become much worse
instead of better, that Mr.. Thomas sold
bills on Mr. Peabody to large amount,
TO the n orlh American Trust and Bank
ing Company, in New York, which were
protested for non acceptance, BY reason
whereof sales of the bond. were forced a,
such "deplorable" sacrifices, (vol. pub.
Doc. 1899, State Lib
G4eles these circumstances, it was, that
Mr.. Thomas as presented himself at the
Bar. Of the House Of Delegates, at De-
cember Session, 1899, and solicited in
person, further subscription to the a.
mount of $2,4O0,222, in aid of the COM
pletion of the Canal In his commune
cation to the Legislature, through Gov.
Grason, he sad-"The Board Of Direc-
tors are deeply sensible that the prices at
which bonds of the State, issued for the
benefit OF the Canal Company at the last
session OF the Legislature have been dis
posed OF. is lceW caLcuLnted To discnnran.