The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1843-11-24

II Is not stated whether be is accompanied bY ia,
agent Of the bondhollcrs, sc.
-----------.------.
The Snngnmo Journal and the CuunI l.oun
The last SaDgamo Journal, in speaking of tn,
caDal loan, has the following;
The matter * bcscl with difficulties As we
understand the subject, the facts are these The
bondhoIers have agreed to advance $500 COO dol.
lars on condition that the agent ycries the state.
ment5 Of the canal conmissc' rs. The agent il
governor Davis, of Massachusetts, who, by this
time probably making examinations ptcpata5urv
to decision On that point If the decision is fa-
vorahc, trustees viii be appointed and the money
advanced, on coalition that al The canal p,opcdy
shall be put into the hands Of the Trustees Il, sr-
cure this advance the money to l., c,uendcd
newt summer. II the legislature IN the winter of
1871 as shall refuse to tax the people, or refuse 10
make appropriations from the resources Of the
state (moncy 10 be derived from the sale Of public
lands is probably regarded a. 'regorHrcs ~ no iur-
ther advances will be made, and the canal lands
VIII then be sold by the trustees, or otherwise dis
posed of as they shall think hcs, to rcmuocratc
the bead holders for their advance Of 100000.
This extract shows that the editor of tho Jour
nal has either committed a wiitu G,l5chood, or
that he does not "undersland" what he is taking
about. II is NIL true that, if the next Legislature
"reiuse 10 tax the people, &C.. mo further al.
vancol will bO made. and tho canal lands will be
sold by the trustees, or otherwise disposed Of, as
they shall think best, 10 remuneratc The bondhold.
crs for their advance Of 100000" The bond.
holders ask the governor to enter into contract
for securing the repayment Of boir advance ",,
manner pointed ont IN said act nj Hc hgj,laiu,c
q illinois,, Che canal act;) and II is one of the
provisions Of the "said act (scc. l3) that "Nonc
OF the lands, lois, or water powers so granted TO
the said trustees shall be sold until three D,o,,ib,
after The completion If tie said canaL" The
bondhoders by the proposed contract will there.
fore merely obtain lien on the canal property 10
the amount of their advance, bot that lien cannot
be discharged before the canal completed. Nor.
alter the camel is Completed can The trustees in
whom The property il now TO be vested sell 1t 80
Fcmunera,e the bondhoders for their present ad
vance of $500 COO" without, at the same time -
30 Recommending" all others who may have nude
a ianccs 10 complete the canal The bondhold
ers obtain no preredeHce-tho sum lhcy agree to adj.
vance isto frank pAri pAssu with any other sums
10 be contributed towards the completion Of the
canal aud no more. In short, the bondhoi,lcrs
ask no other security for their present advance |
than - given them ia the canal law, aud that |
is little more than wha, they have for the whole
canal debt, to wit, a lien on tbe canal p,opcyiy.
Thus is easily disposed of the FIRST difficulty
Che astonishing aeumen Of the editor of the lopr.
nal has enabled him To discover in the arronc,.
ment for completing the canal. Bat gross and
palpable as is his blundcr DO use no horshcr ,crmN
now that he has been set right, will the journal
have the candor TO place this matter in its pfoncr
light before its rcadersl We venture TO say no.
'he object OF the Journal is to render the arrange
men, TO 90 on with the canal odous in ,hc south.
ny means OF such statements as the above, no
matter II false 1t expects to do this for it knows
that but few papers friendly To the canal aud that
will take tho trouble 10 contradict such statements
circulate in the south. False statements therefore
answer It's purpose us well as true ones would.
Hut there is one important consideration the whig
papers Of the south lose sight of in their inccs.nu
opposition to the canal While they fondy ina.
glne they are daily rendering our democratic M
iois more unpopular there, their course is IN
creaslng their popularity in more than u two.lold
ratio here IN the North. The wings editors in the
south have no idea how earnestly the wings here
ueprecate theIr unreasonable orpohilian tn the cn