New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-07-08
NETWORK DAILY TRIBUNE, JULY

rrlold n. far a. income is concerned, by United
States commerce yet it does not yield per cent.
on the money invested. The uetreturos are stated
At Sii3,e69; the gross revenue at stJS gos; and
the Canal, begun In ls2j, was only hnlshed week
ago uu-
and for repairs inspections, &c. al the public
works at sls4,sI4.
The w elland Canal would have been shortened
about four miles bad It been carried 10 direct ine
along the table land at the foot OF the Q1eenston
RIDGE near Lake Ontario, to Port d ilhOuse.-
NeaIIv four miles would have been gained oat Of
six or seven, by following the level country which
yould have also saved many thousands OF dollars
damages incurred by placing it IN the bottom OF
the rayise of Twelve Mile Creek. The level ground
was most favorable, but the private interest OF
spectators at the vIisge Of 81. Catherine finally
prevailed. At great cost, some years hence, the
shor, route will be followed. II would save every
vessel every "trip, fall hour on the average, In
her voy age through the canal, which is now re-
duced TO eight bours from lake % lake.
The Sc Lawrence Ship Canal, including the
Beauharnois, Cornwall and Williamsburg cuts, pro-
duced last year gross revenue Of S5.53l, and the
expenses Of collecting the tolls, and for repairs, in
spectioD &c. amounted 10 s22,026, or four times
the amount Of the gross revenue. The Lachine Ca
nal, Of nine miles, however, above Montreal, yield
ed $685. GROSS while the cost OF working II was
under sl2 600 so that on the whole outlay on these
four short canals there was more cash collected tnan
paid for keeping them up, by about $4,000, giving
dividend of more than the hall OF one per cent
upon the actual cost, which was nearly S6,OOO,OOO
The Rideau Canal cost the British Government
So OOO, 0O0-it is located between Kingston and
BytoWn-and managed by the imperial authoTi-
tics. see account OF its income or OF the ex-
penditure in the public accounts-but 10 years
since it did not uphold ITSELF though very duraby
made OF course it is, like other works, source
Of official patronage.
government carried on By Committee of the
Legislature, that Legislature containing few men,
bers, chosen by unequal constituencies, must IN
the very nature OF things, be corrupt have heard
that favorite politician named Powell, up at Nor
folk. expected to get twenty one years lease OF
the harbor and public works at Port Dover, on
Lake Erie, the twelfth in importance in the Cana
das on terms most dsadvantageous to the country,
but will make further inquiries.
The public debt Of the Canadas, part of it in-
cured for Improvements, for in old times the railing
fashion swa owed up all the revenue-dl'lded II
among themselves and their dependantsl-is said
to be about s22 600 900, including the floating debt
1t is reported that England has recently loaned the
colony two millions, but these accounts make no
reference TO any such loan although [ understand
that this Government is selling bills on London
near you Ipresume that large part OF any loan
that may have been got in England VIII have been
rails ed TO pay interest due there.
The Ins pector General states that $4,000 OF IN
tereat were paid in l5I9, on about fifteen millions
of debt-and much complaint Is made about imam
cial embarrassment here-but whether the men IN
power are pnched, or only say so to keep claim
ebts off, is more than can tell.
Oftbe debt Of Canada, e, 100000 sterling is due
TO the Bank of England, which has lent that sun
ct per cent payable in London, under the guar
anty OF England.
Glynn, Mills, Halifax & Co. and Barring Broth
RS 4 Co have raised another million sterling Ia
England, for Canada, at per cent. interest Win
pant Of this loan, certain old Upper Canada deben-
lures were paidup.
do not s. that ca pitalists in Canada or this
Continent, are heavy creditors some OF them Nj.
Caruthers for instance) are SAID TO prefer Invest
ments on your side, or private loans mere, taking
mortgages of (which aiew persons IN this CITY nave
actually got trunks tall. This would not be the
case were the management In money matters Pru
cent and frugal, rs in Massachusetts,, Connecticut
and in many cases in England; bat it is not So
The financial expose shows great adrotness IN
raising revenue by taxation, bus very little wisdom
in the expenditure ofit.
The Tories though in opposition and unpopular,
have evidently struck terror INTO the sous OF tno
Ministry who try to cOnciiate them in every pos
sible way. Tho Church and this Bank are ultra
| Tory Education is chiefly in the same hands;
and Of the public trusts OF great emOlument and the
cerkships in Offices, the Tories have two to one
! even p0caHces are chiefly filed by them. There
/ are memDtfs VI tuc NaoiuNs VIM "O"-@
worked with either the ms or outs, and 50 small Is
the difference in practice that, but for the name,
| few would know " ch was WHICH.
The outs scramble for place and popularity by
aH, citing to go far beyond New England Repuoit
csnism in their measures, and II IN office would,
ike the others, forget all their defamation and rant
IN sobservie1 &c to the unseen guiding power The
pick-sxes and shoyels OF Universal Suffrage Elect
senator, Annexation Independence Promo5eni
lure Abolition, aud honest Jury Laws, they would
hand over to Baldwin, Lafontaine Co. or such OF
heir party as might have failed to drop into snug
sinecGres previous to the upsetting OF the Reform
| Coach ROGER SHERMAN.