The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-06-02

the Hatohie river which flows into the Msslsspp ry.
err thence down the Tuscumbis and aeress It, passing
TO the west Of Pennington Tishamingo county, Miss
to the Tennessee river in the State of below
the "Bg Bend" shoals FROM which point to the mouth
of the Tennessee river there obstacles conse
quence to navigation From the Ten river the
route proceeds in direction forming tangent to the
great bend of the Tennessee river down the valley of
the south fork of the Forksd Deer river the town of
Jackson Madison county, Tennessee; thence to the
Town of Trenton Gibson county, Tennessee; thence
crossing the Obion river the junction ofhe north
and south fork Of that river to the town of Moscow
KY and thence to Columbus, KY the terminus on the
Mississippi river The line is nearly straight and for
its length if constructed within the estimate will be
one Of the cheapest roads in the country If the sub
scrptons along the line in proportion to those
made at Mobile the whole sum required will be rails
ed and the construction of the road guaranteed 1t is
stated that most of the six hundred thousand dol
lars raised in Mobile has been subscribed principally
by working men, and persons of small means-capita
ss real estate owners and of property generally
having, up to the last accounts subscribed but very
small sum. This, however, is nothing strange. Men
of property those who in fact most interested in
the construction of works of internal improvement
never come forward and subscribe as much, In pro-
portion to their MEANS of moderate means 1t is
the middle class that gives impetus to all species of
enterprise and afterwards capitalists in and reap
the benefit of it, AL the risk and responsibility rest
at first upon those least able to bear them and when
the work has become established when 1t is longer
matter of any doubt the wealthy classes step in and
invest their capital in it, As general thing the rich
men of this country the most narrow minded short
sighted illiberal miserly class of people in it, and if
the public depended upon them for the success of
any public Improvement it would look in vain for
completion. The people of Mobile must not depend
upon their of capital to fill up the subscription to
the railroad they have in contemplation. We have
had experience enough this city upon this subject
and know that there is public spirit in that class
The annual report of the Susquehanna and Tide
Water Canal Company of Maryland states that the
work is in good order, and is annually performing the
purpose for which 1t constructed. The trade Of
the past year has exceeded that of the largest previous
receipt for like period, by the of $21 400 49,
This increase would have been considerably augment
ed but for the freshets which about the mid
die of October last which injured the State works
that the Susquehanna Canal deprived Of full six
weeks of its most profitable trade. The financial at
fairs Of the company will admit of much Improvement
Its debt is too large in proportion to its capital stock
and 1t Is suggested that such be adopted
will ensure speedy rec uction of the debt and an in
of stock. With capital of twelve hundred and
fifty thousand dollars the company have constructed
q work which cost three and a half millions the re.
suit Of which u.s. that far there have been no div
dends paid upon the stock Most Of the ebtedness
is past DUE having been issued short dates and the
company have been subject to demands for payment
which it was unable to satisfy.
The annexed statemen exhibits the receipts and ex
pendtures ofthe company for the year ending Dec g.
1S47:-