The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1857-03-07

Illinois River. Improvement.
The act recently passed by our legislature
incorporating company to improve the
Illinois river, is exciting much discussion in
the river towns and among river men, and
so far our observation extends, is generally
condemned. A large meeting At Peoris
passed very emphatic resolutions against the
scheme. We find nervous communication
10 the ST. Louis Republican on the subject,
written apparently by boat captain, the
main paragraphs Of which are here copied
The whole bill is one of the most auda.
on earth. 1t has an appearance of fairness,
but careful analysis Of it shows it to be q
gift Of the entire river to mammoth mono
poly forever No one can foresee the Rum-
berless evils that will result from the carry
ing into effect this extraordinary law. The
fraud and the audacity of the whole thing is
SO Overwhelming, that no one can fully real
ize it without studying aud mastering the
contents Of the entire bill, which unhesi-
tatingly pronounce . fraud from one end to
the other, and one of SO alarming charac.
ter, that the mind is bewildered in attempt.
ing to measure the consequences that may
ensue If the managers Of the whole affair
succeed in getting the approval of Congress
bsiore the close Of the session, which is evi.
dent'y their object, and which we ought to
spare no exertion to prevent.
The bill is so framed that almost every
thing important that looks like restriction
upon the company is rendered imperative
and of no practical effect. Their charter is
to be perpetual and there is no Limitation al
to rates of toll. Ofthe forty six corporators,
named without their knowledge or consent,
three only are required to organize, open
books of subscription, elect President and
Directors, and get entire control Of the whole
affair. All the public notice required is one
insertion in one Illinois newspaper.
The evident fraud intended in the bill be-
comes more and more apparent the more il
is turned over.
The appointment of Commissioners, to
whom oil plans Of construction shall he sub.
nitted, is complete humbug. Of the
twenty eight persons named in the bill,
three-fourths are probably in favor Of any
plan the company may wish TO adopt, and
some are directly interested. All that is re-
quired is simple majority Of those present,
and besides which, a proviso is inserted
depriving the Commissioners of any real
power.
The provision that at first glance appea,z
to give the State or the United States the
right to resume possession Of the river, &c,
by paying cost Of construction and twelve
per cent. interest, estimated semi annualy,
is rendered wholly impracticable by the
company having unlimited power as to the
increase of capital stock, and the right to
sell any amount Of bonds, at any price they
may think proper-thc State in the event of
buying out the company, being required to
pay all their bonds. More dangerous pow
ers, and a more glaring humbug than to call
this q safeguard, cannot well be imagined.
Another so called safeguard is the paying
over to counties and cities subscribing stock,
all the net earnings over fifteen per cent,
with ten per cent added while in course Of
construction.
All that part of the bill that relates to its
finance is gotten up with such Internal inge-
nuity, that counties and towns on the river
would not dare to subscribe stock, and would
lose it if they did, although this part is
glsssed over with a provision that { ,009,-
600 shall be first raised from other sources.
Common sense would require that if a
private con- pany was to he entrusted with
such mighty interests, they should at least
be limited as to the duration Of the charter,
and restricted as TO the rates Of toll, as well
as in every point where, after the strictes,
scrutiny. be deemed necessary; but, as l
said before, the bill as it stands is nothing
more nor less than free gift Of our noble
Illinois to set Of schemng SPECTATORS
This is monstrous and incredible, but we
can make nothing else out Of il; and it is
an insult to the people on this river to say
that they petitioned for this bill, or that they
would have deemed it possible that our Le-
gislature should be induced to pass it.
The bill cannot go into effect without the
approval Of Congress, and our present hope
is to be able to putsur Illinois members on
their guard in time. The danger is immi.
nent. We held a meeting Of our citizens on
Monday evening. and this morning started
. messenger to Washington We have also,
in connection with .he people o. Peoria,
teiegraphed to Hon. S. A. Douglas If we
fail, and they get bill or resolution SNUG
gied through, and thus get an odious, un-
limited and unnatural monopoly made legal,
the Illinois valley will flame with indignation
against the men who have dared to thus at.
tempt to wrsst from US, or rather steal our
natural rights.