Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1841-12-14

are supposed to be due for tabor already
: done on that line The cost OF its entire
compIelion is estimated al fifty thousand
! dollars.
The debt due to contractors on the
I Wabash and Erie Canal, for labor dur.
ing the present year, is estimated at a.
bout $4,000. Assuming the estimate
sent to the Legislature by the Board of
Public Works, during The last session as
q safe guide, it may be considered as
probable, that this work can be compile
ted by a further expenditure OF about
5000 600
The smoun. now due for labor on the
Miami extension is estimated at SIOO,.
000 and according 10 the estimates fur.
nished in the report OF tho Board of
Pubic Works, al the last session of The
Legislature, an additional sum of about
100000 will be required 10 complete
that work,
From this data, not protesting TO be
minuteIy exact, but which, doubt not,
are a near approximation TO truth, il
will appear that the debt owing at this
time, for labor done, With The estimate
for he work not yet flushed, and a part
Of which is not under contract, will to.
gether amount to about S ,355, 900 OF
The Miami Canal extension, (being l9l
miles including a navigabIe FEEDER
there remains IS miles to complete the
navigation from Cincinnati on the Ohio
to The MNumee Bay, When this work
shall be finished, there will be 703 miles
of Canal owned entirely by the State,
and including I2l miles OF Canal con-
srucled by companies, in which the
State has an interest, there will 9l4
miles ofnavigablo canal within The State.
These enduring evidences Of enterprise
and wealth traverse the State in such
directions, as to draw to them the pro-
ductons Of the richest agricultural and
mineral regions Of the State, and bring
markets to the door of the farmer & me.
chanIc, for the products orthoir labor.
The amount paid into the Treasury
from these canals during The present
year, is $i84758 Is. When the route
through the valleys OF Miami and Mau.
NEE shall present an uObroken commu.
nlcaIon from the Maumee Bay 10 Gin
cInnali, aud the Muskingum and Hook.
ing Canals, now quite finished shall be
IN full operation, it is obvious, that at
he present rate Of tolls, the receipts in
TO the Treasury will enable the Legis-
Iature greatly 10 diminish the taxes -
The amount (ss | have shown) necessa.
ry 10 the completion of all contemplated
works now unfinished, will add compar-
atiVeIy little to our existing debt; and
that sum is necessary to enable US 10
use those works on which large expen-
dtures have been made; expenditures
which must be quite unproduclve until
the worksto TO which they were applied
shall be completed. In The existing state
OF the money market, the arrangements
OF The currency, and consequent embar-
rassmens, 1t IS not probable that loans
10 any extent can be made during the
present year by sales of stocks, on fair
terms ellher in the Atlantic or European
markets. Should any favorable change
be effected by the action Of Congress
upon the currency, during the present
session OF that body, its influence would
undoubtedly be felt in an increased fa-
clJIty CIV to every department OF bu'
slness, and in that case, sale OF stocks
on terms more advantageous 10 The in.
terest OF the States, might be expected.
In the present condition Of the national
councI'S. any measures in that quarter,
tending towards relief from the evils
that have so ong operated with malig.
nanl energy upon the currency, are
scarcely to ba hoped for, and certainly
not at"I 70 be relied upon as a basis of
our legislation.
Should The sound Banks Of this State
whose charters will expire IN lB43, be
'echailered, or their capital be transfer
red TO any new scheme Of banking
which the Legislature may enact at this
session, there is good reason to believe
that loans might be obtained from that
source, tho interest on which would be
PAYABLE in our own Sate; and thus we
might he rnabled, from our own capital,
to carry on TO final completion our own
public works Ojher means there are,
undoubtedly, by which the same sums
necessary tor carrying forward our pub
Irc works might ne raised, which tho
wisdom of the Legislature may devise,
bat the foregoing has occurred to me as
mostsaic aud prco'icab'e, upon the sup
| Pos'llOo IUal some general scheme of
banking shall be adopted at this time.
In contemplating tho future operations
/ OF the state IN the management Of her
public debt, we should not forget the Iale
act of congress, making distribution of
the proceeds of The sales of the public
lands among the states The amount
TO be received by Ohio, under This bill
must of course depend upon the quaint.
( L ,,,bl,. InpI. IA Oh h,I I.o