Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1845-09-24
ps lsnas east Of Tppecanoe 81 IS per although
Inc sales were instances, at inauspcious


the sales made in some instances at InausPcious
periods.
what might be deemed suffice guarantee for the per-
formancs the work. but have fears that could
not be accomplished in this way, unless the Company
should hold the bonds of the State
and which suggestion shall refer hereafter Ind
viduals unless waen acting under very peculiar in
centve would not De willing dvest from other pursuits
and make tina heavy advance III money necessary
~ such extended work. But few companies
would be found able to do it, and the land alone would
answer, the progress Of the to be given
exchange for materials and labor of which have very
convincing experience the line of canal between Ter
Halte and lafayette In this there an issue
Of Land Scrip but the depreciation of showed the differ
ence between and and money IN the prosecution OF pup
lie improve ana it has been gre and runous
almost to put entire stop to the work.
This reference applies, with at least equal force. to
third plan suggested that the State should
rely upon her turner's and others along
the line, finish the canal by giving them, from time
TO time such small tracts OF land they might select and
work II is said that in part of Illinois, and on
the Railroad from Detroit the St Josephs, in Michigan,
this mode has bee found to but are not
priced Of thing the general condition of the public
of those States such belief If it be
the fact it very limited degree and
under very peculiar circumstances In our opinion n
has but little it, although the first blush
may appear be rendering praise worthy service
to portion of our citizens. In the construction of pub
lie works there must be simultaneous operation by the
many-a concentration Of effort An occasional voun-
along the line would be slow process Eut sup
No. tho came en- n,ss they coud not do il it'll
the abandonment of their homes and agricultural
pursuits; and it would lily st them TO yield to those
fcmatc repula,ons-ounctuaity as TO time prompt obe-
dence orders, aud the other properties of dsci
pne indispensiby to the successful
ton of any extensive public work Would 1t not be bet
them upon their farms, push their inn
provencnt and extend their crops, that they might
have surplus for those whose peculiar pursuits is to
work public nprovemeAts-huS realizing good prI-
cash. AMI acquiring ample for the purchase
of the freehold the canal, wherever they light
there thcn doubt Of the completion OF the work. to
give permanent value to their possessions
We speak n candor We cannot, this occasion, do
ote for this the last the State will
ceive from the for the construction of this
4 II
away by yielding to sinister purpose, we shall be
Justly Reproduced for folly and weakness, and much
than this iniict fatal stab the honor and
prosperity the If loan could be effected by
the State should consider decidedly better plan;
and it that the interest might be provided for
of the of the State without imposing bur
den that could reasonably be complained Of The inter
est the whole amount required TO finish the canal IS a.
bout 10000 dollars According to the official returns of
the State for the last year. the number of polls
wards of hundred thousands and the fore evident
that, frem 10 81 fndina Wien }heir habits
industry and thrift considered, and their advantages
in climate and solthat this of interest might
be raised Again the of taxabes for the
year. the polls not included, considerably rising
hundred millions of dollars; and, taking into view the
of the present year, may be fairly estimated
that one-wentieh part of per the
would make the amount of interest And again: the
actually collected and paid during the last year
upwards 1909 ordinary xpe nses of the gov
ernmen were $oOOOO-the difference. it sumed, be
ing principally applied in the ABSORPTION of State Scrp-a
domestic debt which could soon be extngushed, but a
large portion Of which, it is believed will be outstanding
years come, merely for the want of
But has said that the people living in that part of
the State remote from the canal would consent
loan for this that thew would be thus
to burden, without equivalent interest; and that
those locally interested should follow the example which
had been set at other points the State and finish the
the work themselves 1t is true that on the Madison
Railroad and Whitewater Canal most praiseworthy
spirit Of enterprise manifested and we rejoice
that there goodly promise that will be attended
with the best results. The People of the Wabash wish
them all speed. But, surely it will not be contc ndcd
that the parallel, when the length of the line
from Evansville Terre Haute considered that
the country through which it passes is tniv populated
md nj a q OF york tn he state Anda IN
receiving equivalent should be borne mind that
the expenditure on the Wabash and Erie Canal has been
in great paid back the State of the pro-
ceeds of the Canal Lands and that in regard the
of the other works. there is such to; and that
the Madison Road and Whitewater Canal alone there
has been expended by the State 81 6215l3, about
third of the whole amount received all the loans nego
tiated for her System of Internal Improvement. Yet,
for this latter class of expenditure People of the Wa
bash will have to bear taxation equally with the rest and
doing this they will halt compare the weight
Of the burden with the measure Of the equivalent re-
ceived.
to be believed that the People of the would consider
the Wabash and Erie Canal work in which the princi
pie OF equivalents could apply account of its locality
1t is alphabetically the work of the State, and part
Of it. 1t runs diagonay through it nearly four hundred
miles, and is TO be regarded the fruitful from which
that be derived which enable the
to restore its credit and redeem its honor In acknowl
abe is but just to he rsef We feel fully warranted
these expressions for it manifest to that,
ion with the acceptance of this and the
OF the work, an arrangement can be made for re-
storing State credit and paying the State debt. and in
entlreIy acceptable those who hold bonds
At the Convention which appointed the undersigned to
address Mr. Chas Butler of New York, the Agent
Of the BOndholdcrs upon invitation submit his views
upon the subjects there agtated. did with great frank
In the Of his remarks, he sad allow shall
this great object the payment of State debt be
compshed, and that, the shortest and with
the least possible expense' can only mproys well
you For. with the speedy completion of this W abasi
and Ohio Canal permit date the relief
prosperity Of your State And again Il have
fnlly compared the prospective of this canal
with the certain profits of the Ohio canal. There
been said to be no connexon between the two. Nv o.
pinon is that the Wabash and Ohio Canal will in three
years, produce more revenue than the other
ten years of its existence FOUR Bondholders think.