The Illinois free trader and LaSalle County commercial advertiser. [volume] (Ottawa, Ill.) 1841-1843, 1843-09-08

The loan for the completion OF the Illinois and
Michigan canal we believe we may state With con-
ilcnce, has been taken. News received by the
latest steamers from Europe confirms this all-ost
beyond doubt. J. G.. Bennett, the editor Of the
New York Herald, who is now in Europe, writes
from London By The Great Western as follows
The financial confidence and feelings between
the United states and England are increasing
every day. A few months ago, on the arrival OF
several agents from tho L. s., they were met by
broad and hitter feeling of hostility and, sngu-
lar 10 say, this feeling increased by the letters
OF the agents and stockholders of Wall street to
their principals here, against the credit and cha.
rac'cr of the United States. have every reason
10 believe that, before this time the agents Of the
state of Illinois, Messrs. Oakley and Ryan, would
have succeeded but for the stuckjobblng msrspre-
seutaons from Wall street. As it is. am happy
10 say that there Is every prospect Of their success.
FHey want a loan Of 5 ,GOO,00O, on ample sccu-
rtY, to finish most important canal that con-
meets the Mississippi with lake Michigan, aud
learn that the holder. of The bond, IN England, to
the amount Of 81 600 900, have agreed TO advance
DrD rata the amount aud II is expected that the
whole negotiation on the balance of 5000 0J0,
will be completed in short time with tie large
houscs.--Ihis 10 the FIRST rerl movement leading
10 a recovery Of American state credit, aud If the
Other delinquent states would follow in the foot
steps Of Illinois have no doubt every difficulty
on that point would be removed in year.
The following paragraph is from the New York
Courier and Enqui,cr:
Several lctlcrs have been received by the III.
beruia which indicate the prospect Of favorable
Tor Al 4 10
mlsslouers. It's understood that the foreign bond
holders view the proposition Of the commissioners
in 50 favorable light as 10 have determined to
send ont au AGENT 10 this country, who is to look
at The canal and form his own conclusions as TO
the propncy OF further investment Oh their part
and that should hc report that the work can be
completed by the expenditure Of the amount pro-
posed 10 be- raised, they viii advance the sum.
We think that II only requires thorough ac-
quainnncc with the condition Of this work aud
Just appreciation of the immense trade that IT will
command 10 ensure such further expenditure Of
money by the bond holders as will complete the
canni and thereby secure the repayment Of the
money they have already expended, aud which,
without such completion, would be entirely lost.
From this it would seem that the only impede
mont to tho immediate advancement of the money
to complete the canal, is the distrusi of the Eu.
ropean bondholdcrs in the good faith Of Illinois,
in consequence of which they have determined to
send an agent here to look at the canal and form
his own conclusions. The effect of this will be
u delay the advancement Of the loan for some
time but it cannot defeat it; for who can for
moment doubt but that, if an agent is sent here.
he will be fully satisfied with the ampeness of the
aud that it will DO the interest of the bondhoders
to complete the canal!