The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1858-03-24

On the 14th inst. In the House Mr.. En-
lish, the representative Of the Second Dis
trict offered res olution requesting the Sc
cretary of the Treasury to communicate to
Congress: statement of the present eondi-
ton Of the accounts between the Govern
ment and the Louisville and Portland Ca
nal; and to inform the House what was the
extent and nature Of the interest Of the
United S.atea in the Canal. The Committee
on canals was also instructed to inquire into
the expedieucy Of reducing !be tells.
Mr.. English in his remarks stated that the
Canal Company was incorporated in 1895 by
the State of Kentucky, and the United States
became stakeholder to the amount of $780,
600. The canal was completed in 1890
Since its completion the dividends on the
Govsrnment's stocks has reimbursed the
Government for its original investment, and
enabled it to purchase the entire stock held
by individuals. The original cost of the
canal was 81 900 900. There has been col
lected in tolls over $4,000 900, which has
been levied as tax upon the commerce Of
the river. The United States has been the
sole owner Of the canal since 1856 except five
shares of 800 each which have not been
formally transferred to the Government
For the last three years the tells have sx-
ceeded the expenditures more than $780,
annually. The object Of the resolution wa,
to learn what had become of thcsesissfeceipt'
collected from the boatmen; they had no,
gone into the public treasury where they be-
long. II is stated the persons in control O
the work-notwithstandng it belongs to the
Government-claim the right to collect the
tolls, and appropriate the money without
consulting Congress. They have applied fo
and obtained charter from Kentucky I,
construct a new canal, rs q branch Of TN
present work, and, according to statemen
of the Superintendent, recently made to tn
public, it is proposed to commence the con
struction of it at once, and to expend no
only all tie money accumulated in tn
Treasury and the future tolls of the canal
but create a loan on the credit of the Com
pany, which is, IN fact, the United State
Government. Into this unauthorized an,
irresponsible management, it was the objec
Of the resolution to inquire.
A contract for building branch canal q
q cost OF 100000 has been made, and
is said the work will be commenced in April
Mr.. Marshall, the representative of the Lou
isville District, stated in reply to Mr.. Eng
lish, that the right of the United States t
the canal was made conditional by til
statutes Of Kentucky. The company wa
authorized to transfer the canal to the Gov
eminent, when the Government should 8
improve it as to make its capacity sui
fcient for the entire wants Of the con-
merce of the river. Till that condition W,
fulfilled, the Government could not becon
the owner of the canal; and it was not no
legally the owner Of single share mo-
than it originally subscribed for. In repl
to this assumption of the representative
the Louisville District Mr.. English quote
the report of Mr.. Guthrie, as Secretary
the Treasury In 1855, in which no says:
ain January, 1855, the receipts Of the e,
nal were sufficient to purchase the balance
the private stock, and all was purchased ar
transferred to the United States except a.
shares left standing-one to the Presiden
and one to the name of each Of the Directo
of the canal"
Mr.. English's resolution was adopted, Il
to AZ. n