Bedford inquirer and chronicle. [volume] (Bedford, Pa.) 1854-1857, 1856-01-11

= aug the past year, 10 AAFiCNS AoN Iot ~
successful operation thIainal deserve the |
highest connenda,ion. Everything that /
skill, energY and industi could accomplish !
has been dane. The lar 70 be performed /
was great, aud renderenuore difficult and /
perplexing by tie imperet and fraudulent |
construction of TIE old ,rk and some por- ]
tion of, the new The lar quantity of rocks /
trees, stunips, and roots Pced in the bottom
of the Canal, and tue lefectiye material
used III the eHbankment suffered the wa
+ ter to escape almost as rialy as admitted,
and rendered reconstritiun Of the work,
in many places ,indispeas,iy necessary Its
/ successful completion, ii hoped, will soon
| be announced.
L viii appear by the sport Of the Com
/ mittee Of Ways and Nieauniade to the House
of Representatives in 1872, that the entire
/ amount necessary 10 conlele and rut in
operation the unfinished portions Of this
Canal was estimated at II sum Of 81 ,l06,-
037 90. The amount acially expended on
the work sin ce that perid, as appears from
the Reports Of the Supsinteneent, Enei-
neer and Canal Conmissipers, is Sl.S57,-
3i1 o., being an exces OF expenditures
over the original estimataof ST5l $40 81;
and the Canal not yet irpperaiion. With
such facts before us-sun evidence of mis-
mana cement and reckless penditure as the
history Of this Canal shos--it is net mat
ter Of surprise, that the Commonwealth and
people are burdened wh debt and taxa
ton.
In pursuance OF the 4et Of the Sth of
May last, providing for III sale of the Main
Line OF the Public Work. after giving the
notice required by law, lcansed the same
to be exposed to public sale, at the Mer-
chants Exchange, in theE'ity Of Philadel
phia. No offers were nae and corsequent-
Is the works remain unsld Sealed pro-
pusals for the "sale or Iase Of the Main
Line" were subsequently invited, as diree-
ted 6y the Seventeenth pction of the said
Act, and the proposals received are here
with submitted 10 the legislature for their
acton and FINAL lisposiiie4.
Having On former ociasion presented
my views Of the proprietj and policy of q
sale of this branch of 0utpublic improve
ments, repetition of the sentiments then
expressed become unnectsasy. In lela-
ton to this subiect, nybpinion has not
changed On she contrasy The experience
Of the past. and careful examination Of
the question in its eeoncnieai aud political
relttiess hsvssa+s'rts sslssaS sosl srA,sss.rlifeI
it. That the state should, long since, have
been separated from the management an 1
control Of these works, the history Of their
construction and napageHent clearly &c
inonStrates. Public policy and public SEN
tnnent deinqnd this separation: and every
consideration of present and future interest
requires their sale. The late financial N
barrassmentso OF the soantry--the imperfect
character Of some of the provisions of the
bill authorizing tie sale together with the
adverse influence Of rival interests, defeat
ed TIE recent attempt to sell. These Diff
have been, OF can be, removed and sale
yet effected on terms amply protective d
.4e rights and interests Of the people and
At The same time just and liberal to the
purchasers
70 reduce the State debt and relieve tbs
people form taxation, arc objects worthy the
earnest aad anxious consideration Of tht
Legislature. To accomplish these objects
speedily aud certainly, sale of the whelf
or part Of our public Improvements becomes
important and necessary. The revenues ot
the State,under the present system OF mar.
agement of the public works arc but
llttle nors than sufficient TO pay the inter
est OF her debt, and tue ordinary expenses
.4e 81. A =. I'll
for fair consideration, and upon terms Just
and liberal, would constitute beginning il
the process of liquidation that would FREE
our Commonwealth from debt and her .peo-
pie from consequent taxation. Ia every
measure calculated u produce these DC sira-
DIE results, will clleerfully co operate witt
the Legislature.
The currency OF the State, in its relation
to banking institutions, aud their increase
is subject that demands careful and intel
ligent consideration. From the notice giv-
en- OF numerous intended applications TO til,
Legislature for new banks and an iuereas,
! of banking capital, this subject will doubt
less be presented to, and strongly urged
upon your attention. Shall the number o.
Banks and the amount Of banking capita
be increased aud if So, to what extent anc
in what localities, are questions Of absorb
ing public interest.
Without desiring to assume a general anC
uucompromisiug hostility to7all Banks, ol
to ar increase of banking capital, canno
discover the necessity that requires, or tht
CIRCUMSTANCES that would justify the incor
poration Of all that may be denanded frou
the Legislature, The incorporation of new
or the recharier of old and solvent Banks
when indispeusibly necessary and clearl,
demanded by the actual, business wants o.
tine community in which they may be loca
ted, should not be refused; under no other
/ circumstances should their incorporation b
permitted.
The ueeessitylfor increasing the uumbeI
of Banks should be determined more BY
the actual wants Of legitimate trade, than
by the number Of applications and the viii
fencies of stock jobbers and speeulators.
/ The suddeH and unnecessary expansion d
the currency should be avoided. and what
ever tends to. produce such result ought t
be discounten1nced aud prevented. In tht
creation Of Binks tie true interests OF tho
State ard people should be consulted; ;;aant
a Just and honest discrimination, as to mum