The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1847-07-23

is credibiy stated, that all the inter-
est allowed to this time is $4,000,
although at 6 per cent. the money
must have earned 100000. The
canal was then just under contract,
and most Of the old contractors, pre-
emptors under the law, resumed
their sections. 1t was now evident
ly to the intent of all parties, except
the trustees, that the work should be
prosecuted and closed as speedily
as possible. For this purpose sup
ply of laborers was necessary, and
to procure that supply it was indis-
pensible that the men should be well
treated, and paid promptly in mon
ey; u most pernicious system was
however imme diately adopted. AS
Mr.. Leavitt, with the money in his
pocket, lived in New York, he could
not be on the spot 10 audit bills and
pay hands. 1t was also the case that
enc of the leading contractors was
interested in many shops along the
line of the canal, and to pay the men
in orders on his own shops instead
Of money, would suit his views ad-
lnirably. 1t was therefore agreed
that the contractors accounts should
lie made up every 80 days, and trans
mitted 10 Washington for Capt.
Swift's examination, and sent BY him
to New York, to Mr.. Leavitt, and
the Latter to transmit the amount, if
right, 10 the contractors, as the law
required that the money should be
paid to them in Illinois. By this
means five months work was done on
credit, while the money was lying
in New York. That is to say, if an
account was made up TO April lst,
It would be the middle Of June be-
fore the men got the money, less the
amount Of the store orders which
they had been compelled TO take up,
as labofing men cannot work on
credit five months at a time. For
this reason numbers lefi. the canal,
and still more refused TO go on to it;
and when the work went on slowly,
the engineers complained of want of
hands, and the trustees ascribed it
to the "ttnheahhiness IF the State"
Another mode Of proceeding promo
ted dissatisfaction. Mr.. Lcayitt
was assignee forhis nephew, to whom
person, who took contract on the
canal, was indebted $4,000: when
that contractors money fell due, Mr..
Leavilt, instead Of paying as trustee
for the bondholders, withheld it as
assignee for his nephew, and the
hands employed by this contractor
were enraged at the disappointment.
These are causes which more than
anything else, have contributed to
the scarcity of hands on the Illinois
canal. These charges Of the trus-
tees upon the canal funds may be
apProXimated as follows:
l~o years s,'5ty. ''''>' I"ooo
Tnorcr cent hroKcragr.n 81 COO 600 ~ go
Two years Interest ON $500 600, lrss
$500 ,l!oweI, 5a00n
Brokerage nn bills neg ,iia,ed, 500
Stz,d As oS,iguer, 5000
Total, sO2 $40
The second item was, we believe,
withdrawn. Now, all those facts,
in connection with the knowledge
that efficient management would
have had the canal en- for naviga-
ton this spring, caused great dissat-
isiaction. Col. Oakley was appoint
ed trustee in place of Gen Fry, and
the American bondholders made an
effort TO change the other trustees,
and meeting was held at the Office
of Jacob Little & Co in New York,
for that object; at that meeting a
preamble and resolutions was adop-
ted, which expressed the views of
the meeting in relation to the injury
sustained by Illinois, as well as the
bondholders, through the non-atten-
dance Of the trustees, and the excess
sive salaries charged by those gen
tlemen. Messrs. Swift and Leavitt
published a reply, in which they
state, in answer to the charge that
the work is delayed through their
on-attcndance, they care not aware
tat such is the fact" This is very
possible. How should they know |?
There were this spring, many con-
tracts forfeited by the contractors.
The chief engineer would not take
the responsibility of closing them
and giving them out TO new men in
the absence of the trustees, and six
weeks of the finest possible spring
weather elapsed without blow
struck. This state of things it is
very possible Mr.. Leavitt, in his
bank parlor 1900 miles off, scrutini-
zing bills offered for discount, per-
haps with Illinois money, is ':not
aware Of" How should he know :?
$4,000 per annum does not make