The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1845-10-24
The Q IL per cent. Con, missile n I.
We find the following paragraph in the NJ
York Journal of Commerce Of the ll,h inst.

We find the following paragraph III the New
York Journal of Commerce Of the ll,h inst.
Illinois Loan-We have the authority Of
personal friend Of Mr. LeavItt. (vho is iu.t now
absent from the city, for saying. that Mr.. Il. has
not claimed % per cent. commission on the Hi
nois loan, as reported by the Ottawa (lli) Free
Trailer, and o.! course that no such commission
has been allowed.
We are heartily rejoiced to hear tina, Mr.. i
hps made no such claim, and hope sincerely this
is the last we shall hear Of ii. 1t had been re-
peatedly stated to US upon what we considered
fair authority, and the report was daily spreading
wider, that such a claim had been made. and the
feeling i, created was any thing hut favorable to
the interests Of the bondholders or the early com
plction of the canal. Hence we ut once deter
mined to probe j, to the bottom. and we have
accomplished all the friends Of the canal could
wish in elic,ing the above we hope authentic
contradiction Of the report. How much better
this course, than to remain silent, or taci,ly all
nit the report by attempting to defend the 'rus-
tees on the assumption that it may be true and
thus let il do its worst in creating feeling
asains, the trustees and the canal, when 1t could
80 easily be completely put TO rest.
In regard to this silent policy We have one
other word to say There is always right and
awrcng way OF doing a thing, and we have vet
to learn tina, i, is bad policy 10 contend for the
right, The loan to complete the canal was oh
tanned with grea, difficulty and only with the
full understanding, both on the part Of the peo-
lle Of hi, state and the bondholders, that II was
sufficient TO accomplish the ohjec. in view. We
have no reason to hope, il the present loan lsex'
haus,ed without completing the canal, that our
people would consent to u new loan being raised,
or that the bondhnlders would make further adj
vances; and we know that, unless the present
loan is prudently and economically expended, 1t
will no, complete the canal The great danger
therefore. we have to guard against ia cxtrava-
ganoe in the use Of our present means, md not, as
some appear To believe, in offending the present
board of trustees and their under.,rappers. II
these constituted the whole body Of The bondhol-
dcrs, the case nigh. be different; but the truth
10, the bondhoilets arc as much opposed to extra.
vagsncs as the people Of Illinois can be; and Il
they are once convinced thu, their money is i'm
providcntly expended, they will drop our canal
like no, potato. As the true friend Of the ear.
iy completion Of the canal. therefore. we shall no,
cease to expose and exciam against extravaganza,
and pecula,ion, and every kind Of msmanagc-
ment on the canal, whenever and wherever we
see il. The pre.ence tina. j, can do no good, and
THAI the trustees will at all events do as they
please, is no, valid. Our state is not so irreriv-
ably sold that she must submit. to every kind Of
wrong withou, remedy; and il she were, the
trustees are not above the reach Of public opn.
iu; nor are they independent Of every other con-
trolling influence. They hold their places a, the
mercy Of the bondholders, who will hold them &C.
countsb!e Zoe oil their acts, and will remove them
without the Iess, hesitancy, end appoint better
inca Ia their places, IL they abuse their trust.