The southern press. [volume] (Washington [D.C.]) 1850-1852, 1851-01-08

The first two articles of the Richmond T.,
quirer, on the internal improvements of Me-
York and Virginia, betrayed good deal of il
norsnce - the last an almost hopeless inca
pacity. We were not surprised that the edite
had adopted conclusions that have been quit
!, current for We never suspected him of the il
i dustry or attainment, requisite to the formatio
Of sound opinions of his own. We therefor
kindly undertook to enlighten him; but instea
Z Of being thankful to US for correcting his blum
ders, and thus attempting to prevent him froI
making further exhibitions of his incompetency
he goes on desperately to expose himself still
more to general ridicule, not only by committing
further absurdties Of calculation, but also o
temper and docorum. And whilst squirminI
like an animalcule in the burning focus of SO
lar microscope. he imputes the pangs he suffer
to our anger whereas we have only been max
ing q philosophical experiment on him, will
phiIosophic GOODNESS, for the purpose Of illus
trating some of the truths of the great science
of political economy.
We have driven him from some of his origina
positions, or at least silenced him; for he nov
confines himself chiefly to the proposition tina
the New York canal system has been very pro
fitable. He has also forsaken his great favoritt
statistcian, Mr.. KETTELL, and betaken himsel
to original documents, the Comptroller's report.
of New York. This would be some sign o.
progress, If he did not forthwith proceed 10 mis-
understand and miscalculate as much from his
last authorities, as from his first.
It is rather amusing to see man undertaking
the championship of the internal improvements
of great State, involving the expenditure Of
many millions, who is Incapable of seeing the
results of such works in other States, even after
they are reduced to certainty, and the evidence
is before him. If he cannot cypher any better
when all the data are known, what confidence
is 10 be reposed in his calculations and con-
lectures, in engineering over the stupcndous
ranges of mountains, and along the precipitous
waterfalls between eastern Virginia and the
Ohioa What is the capacity of man, to in
struct State on internal improvement, whose
own mind exhibits such melancholy want of
it, between whose premises and conclusions
mountains aud chasms lie, in all the confusion
of prmeval chaos, without its sublimitys
But as the Richmond Enquirer is aspecimen
of numerous class of quacks, whose theories
have led, and may yet lead many States into
ruinous undertakings, we must exhibit him lit
tie more. He says:
~Mr. Fisher clings to the assertion that the
New York canals pay only five ard a half per
cent. upon their cost. He marshals figures and
manufactures facts with wonderful ingenuity
and facility, to prove its truth. He estimates
their total nett revenue up to l842 at s. III or
898. allows interest upon this sum to the amount
of S5,329, 800. and brings out an aggregate
principal and interest of earnings at that date, of
$I6,432 ,236. From 1912 to l847, he makes the
nett revenue $9,000000, which, added to the
above aggregate, makes the total nett earnings
up to l847, $25,432,236.
Mr.. Fisher will excuse us for overhauling this
calculation. If he will turn to page Ill of the
Canal Commissioners report, in January, 1850,
he will find n statement of the canal tolls since
1923, amounting at the close Of l849 to a grand
total of S44,.89,434. If he will turn to page
81 of the report of the Commissioners Of the
canal fund in February following, he will find a
table of the total annual expenses and repairs
since 826, showing them to have been 80 per
cent. of the gross tols. A deduction of this
per centaee from $44,389, 434, leaves $685.
133; to which, If we add eight years interest,
the nett earnings up to 1849, according to Mr..
Fishers principles, will be $42, 1902, 635 Mr.. f.
rates them at 25,432,236, and thereby makes a
mistake of $l7,27QL399 So much for the
credit side OF his account now for the debit
side"
1t will be seen that the attempt is here made
TO refute the proposition that the nett income Of
the New York canals is only about five and a
half per cent. on their cost. And it will be seen
that we made up the account of tolls to lS47,
in accordance with Mr. KETrELL's tables, the
very authority the Enquirer cited us as the
highest. The Enquirer makes it up to 1919.
So we deducted the whole expenses from the
time the tolls commenced. The Enquirer
counts the rerenue from 1923 to l849, but the
expenses from 1926. And thus, by adding two
wears of revenue more than we did, and leaving
oh six years Of repairs and expenses, and they,
from the recent construction Of the canal, likely
to be the most heavy, attempts to convict US of
mistake of s ,270,399 For navigation CON-
menced in 1920, and although the tolls were tri-
fling, the repairs and expenses were great De-
duct two years of revenue, about $6000,000'
and six years Of the most expensive for repairs
and expenses, say $5,ooo,ooo, and we have
$ii 100000 to which add the interest, which is
averaged by the Enquirer for eight years. and
which would amount to $5500,000, and we have
nm aggregate of mistakes made by the Enquirer
of $l6,5OO,00O, in an attempt TO correct us OF
one of Sl7,270,399. So that, on the face Q,
his oDn account the Enquirer stands convicted
of this great blunder, instead Of us. Now, why
did the Comptroller resort to the expedient Of
counting expenses and repairs only from 1926
instead of 1920! Was it because it was i'm.
portant TO make better showing for the canals
than all the facts would authorize And is it no,
rather verdant for the editor of Southern pa
n. I 4 l.. r.