American Republican and Baltimore daily clipper., 1846-02-25
Making
4631,50l 95

The committee are not without strong
hopes, that the time is not lar distant when
the revenue which may be expected from these
investments will be very essentially increased.
From the report of the directors on the part Of
the ate, in the Baltimore and Susquehanna
Railroad Company appears from data which
the committee see no reason 20 distrust, that
the annual revenue from that work will he
augmented from twenty thousand, 10 up wards
of eighty thousand dollars, provided meas
| ure which has already received the sanction
/ Of the House OF Delegates shall become law.
| The SusquehanDa and Tide Water Canal
! Companies, 1t is now belle we'd, will be ab G 10
pay regularly the full amount of the interest
on the debt contracted by the State for their
benefit, and if so, the Chesapeake and Ohio
canal is the only work in which the Sta te has
a deep interest," which is not affording mate
rial assistance TO the revenue.
The State holds, Of the stock and oonds of
this company, for subscription and loans un-
der various acts of as emily the sum of
$7,l63, ,724 A
And there is due for interest 2,l59,443 rs
Making together the sum Of 50 1913, l69 l9
If this large amount should hereafter be-
come only partially productive, the relief
which it would give to the Treasury will be
most sensibly felt, whether the revenue TO be
derived from il is used in the more rapid ex>
/ tlnguishment Of The public debt or is applied
! to the payment of interest upon it, in lieu of
so much of the taxes now expended in that
| way.
The committee DO not mean 10 indulge in
speculatlonS as TO the future productiveness
of the canal, which in the judgment If some,
might be considered as fanci(ul; but they sup
pose the anticipation is not an unreasonable
one, that it will, when finished, contribute
something to the Treasury. That there are
in Allegany county vast deposites of coal and
other minerals, is truth too well established
TO be denied and that these will find market
by some avenue, we suppose to oe equally IN
dlsputabe Without entering into the much
controverted question of the relative capacity
OF railroads and canals TO transport neavy and
bulky articles r,r long distances, the commit
tee are strongly persuaded, that the rivalry
for the coal and iron trade, between the canal
and the Baltimore and Ohio Railroad will not
be of very long duration, or keenly main, ain
ed. They hope and believe, that the rail-
road, at no distant period, will BE- inished to
the Ohio; and when that is accomplished, the
committee believe that the trade and travel
"hioil VIII ue supPlleu Uy L'e IeIuiS anu
boundiesS west, will be quite sufficient to give
full employment to the energies OF this pow
erful and skiliully conducted company. The
committee therefore think that at no very dis
tant day, some assistance may be expected
from the Chesapeake and Ohio Canal, which
th're is now good reason to believe will be fin
ished.
There is one feature in the proposition for
funding the arrears Of interest, as suggested
by the committee, which has not yet been ad-
verted to. The State, as already observed,
has in bank stocks $50 966 &C. and she has
other productive securities and claims of con-
siderable amount, If the arrears Of interest
are funded, it will be mpaned with
proposition TO authorize the proper officers 10
dispose of these bank stocks and other sccuri-
Ties and to apply the proceeds and all claims
due the State as collected, to the PAYMENT of
the certificates to be issued for the funded in
terest, by which it is believed these certificates
can be redeemed in a short time Care how
ever will be taken that the ability OF the Treas
ury o Jay the ordinary expenses Of the Gov
ernment shall not be endangered by parting
with these securities, as discretion over the
subject will be confded to those whose oppor-
tunIties will give them full means of orminG
correct judgment in the p-emises.
All which IS respectfully submitted.
JOEIN InINChN