The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1845-01-31
OTTAWA, ILLINOIS, FRIDAY, JANUARY 81, ls45.

dspel. 1t is not surprising that, when some o
the states were openly regulating, ind other
failing to pay any part of their interest, or tax,
any action upon the subject, the bondh older
should require some proof that we intended I,
pay what we already owed, before loanns US NOR,
money.
For the reasons he had now offered, he was op
posed TO the proposition offered by the gentleman
from VerEilion, and, unless some batter reasons
should be offered in its favor he should feel il hi.
duty to use his most strenuous exertions agaius
any plan of the kind.
He had listened with attention to the remark.
which fell from the gentleman from Greene, and
he had come to the conclusion that the gentleman
| had not given the ject due consideration. He
proposed that we should raise Sl50,OC0 by tax
alton, and apply II directly to the completion OF
the canal, and issue land scrip for the halance OF
the work to be done each year, which should be
receivable for canal lands. But he would inform
the gentleman from Greene, that he had greatly
overcalculated the sums he would derive from the
sales of canal lands, if they were to be hrough,
into market in the way he proposed. !, was ut
terly useless to depend on these sales to complete
tho canal and he challenged any senator to
show that the canal could be finished in twenty
years if its completion depended upon these sales
| The deterioration Of the unfinished work would
nearly equal each year the amount expended upon
the canal in this manner. Mr.. r. read an abstract
of the sales of canal lands in 1904 and AZ -
Quantity sold in lSiO 1903 acres for SCOTT 81.
Average IS 10 per acre. Quantity sold in 1911
| 10,4l3 56-l0C acres for SS4 610 81 Average 20
/ per acre. Quantity sold in 1912, 81 .72S 81
| 100 acres, for 5 l59,S52 81. Average, 81 IS per
| acre.
These sales were made on ere dit of
twenty years, payable in canal scrip; and
at the time of the last sale, the scrip could
be bought in the market at, from 20 to %
cents to the dollar. At the last sale, about,
l35, 900 acres were offered in the market.
and only about one.sixth of the whole
amount was purchased, though offered on
a credit of twenty years. and payable in
scrip that could be bought for 20 cents to
the dollar, and even of the amount sold,
7l5 acres were forfeited. There is but
small number of farmers comparatively,
living in the vicinity of the canal. and
what canal lands have been sold, have
been principally sold to them; they have
now got their supplies, and until the ca
nal is recommended with certainty of
speedy completion, and until new settlers
are attracted to that section of the country
there will be no purchasers for the canal
lands, even if they were offered for sale.
There is yet large quantities of govern
ment lands at no great distance from the
canal, which can be purchased at 81 so
per acre; therefore until after the com
pletion Of the canal, we cannot expect the
canal lands to greatly exceed the price
of government lands. Was it not enough
that we had sacrificed already by these
sales, the very best Of the land, and had
failed in obtaining 1.-THE of the means
necessary 10 complete the canal, without
having the very same scheme urged upon
us at this late day Proceed in this man
ner (said Mr.. r. and filter away little by
little, the choicest of your lands, and there
will be no means lett to complete the ca
nal. We would in this manner barter
away the only means the state had, and
still leave the canal unfinished. --Sacrifice
the canal lands in the way proposed. and
you dispel the last hope tina, remains, Of
ever getting that great and noble work ac-
complished.
Mr.. Il. thought the Senator from
Greene entirely too hasiy in his calcula-
ton. That gentleman went on to say,
that after he had finished the canal, he
would take all the tolls arising from it,
and with these tolls he would pay tie
school debt.
He was indeed asionshed at this part
of the Senator's speech. Does that SEN
ator forget that those tolls with which he
proposes to pay the school debt, are ir-
revocably pledged for the payment of the
canal debt Does the gentleman desire
to add disgrace to our present humility,
by all open, unnecessary violation Of a
solemn pledge ! We may at present be
unable to pay our debts, and our failure
to do so. is in some degree palliaed by
our inability; but what excuse would the
gentleman offer, after we had the ability
when the canal should yield a revenue
for appIopria,ing it TO the paymen, of
a domestic debt, when the money loaned
for its completion, had been given upon
the pledge of its tolls! The gentleman
said, the bondholders had refused our of.
fer, and now he would say to them
"stand off !" Does the gentleman con-
slider to whom he uses those cruel words
Does he know that among the holders of
our bonds are many widows and orphans,
whose sole hope Of earthly comfort rests
upon our honor! Does he know that
among them are aged men, past the sea-
son of active labor, who have invested the
savings Of long lives in our good faith |!
Does he know how many homes have