The Evansville journal. (Evansville, Ind.) 1834-184?, 1844-04-18

account the States Of Illinois and Missouri.
We have shown as above, that, from the trade
Of three millions of people, our canal will
produce upwards of one million of dollars,
consequently, from the trade of eight mil
lions, it must produce nearly three millions
o. dollars; so that, by the application of the
good old rule of three TO two given quanti-
ties, we arrive at the enormous result of
upwards of two and a half millions as the
annual receipts from our canal, from and af-
ter the year 1860, besides the yearly in
crease which must necessarily arise, after
that year, from the continual augmentation of
the population and the increasing cultivation
of the soil. We acknowledge this result to
be SO astonishingly great, that it may well
startle the belief of the most sanguine, and
we will, therefore, endeavour to present the
matter in a light which we think very few
will be inclined to dispute.
We have shown from data, which we hold
to be unquestionable, that, when the Canal
is completed and our population has arrived
at three millions, the receipts from the tolls,
by the trade ofIndiana alone,wil be upwards
of one million of dollars. Let us now sup
pose that these receipts will only amount to
S50O.O00, and surely every one must allow
that this estimate is exceedingly low. Let
us also suppose that the trade of all the
Southern States will produce $50O,0OO
more; and it will be passing strange indeed,
if with a population Of upwards of five mil
lions, it does not produce a great deal more.
From this we see that, even the verylowest
estimates which any rational man could
think of making, give, in sixteen years from
the present time, a clear income from our
canal of one million of dollars annually.
We will now proceed to enquire in what
period of time, when applied annually, this
amount would be able to pay off our debt;
and, in this enquiry, we shall make no al
lowance for repairs, because,i in the "Report
Iof the Commissioners of the Wabash and
Erie Canal, December 10, 1885," address
ed to the General Assembly ofthe State oil
Indiana, we find it stated at pages 8 and 8.
that sson the Centre Canal from near Ander-
sontown to Evansville, the water power which
will be created would yield an annual reve.
nue. of $l25, 700; which would be a suffi.
cient sum to pay for all the repairs which
this line would require"
: In the Report of Mr.. Dunn, our late Treas
urer of State, which we have already REFER
6 ed to, he says at page 6 that the public debt
. ssas estimated to exist on the first day o
. January last, was 2 ,l29,339 dollars, anc
: the annual interest was S609,2S9 49,
This interest is so little over being at th'
! rate of five per cent. that, in what follows we
n have assumed that rate. We have found b,
calculation that if one million, of dollars wer'
appropriated annually TO the liquidation o
IS a debt oftwelve millions, bearing interest a
e the rate of five per cent, the whole woul
be paid off in nineteen years. We believ
" the people of England would think this
Of most incredibly short space o ftime in whic
at TO pay off a national debt. They have bee
h. trying 10 pay off theirs for more than on
to hundred years, and, as yet, they have mad
r. but very little progress. The fact which W
re have stated, however, is undeniable, and an
We one can verify it, as we have done, by calct
ds %lation, which will prove TO him beyond
"a doubt, that, as soon as the canal will enabl
ne us to devote one million of dollars annual
he TO the payment of our debt, the debt will
e. swept off in nineteen years. We may ais
m state that one and a half millions of dollar
ro- so appropriated, would sweep it off
ill eleven years; and two millions would do ,
1.-THE same good turn in eight years.
Cd 1t will no doubt be said that, until Il
lie time shall arrive when the Canal will be col
ii pleted, the debt will be augmented by Il
it accumulation of unpaid interest, but this a
en- cumulation will be met, in a considerab
the degree, by the receipts from the Canal as
to- progresses; and, after the completion of t
the Canal, the yearly increase of these receip
in will more than counterbalance the rema
inc der. We are also aware that there are ma
the causes and circumstances, bearing upon /
on subject, which will have tendency TO me
as fy the result, some tending to augment a
of others to lessen 1.-THE review of all The