The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-02-28
The Canal.

it appears that proper provisions are likely
to be made for the preservation of the Canal
in case any portion oft shall be abandoned +
by the Bondholders. By the provisions OF
Mr.. Conner's biIl-which is likely to pass /
without much opposition-the State will |
relinouish her right of redemption, and en-
power the Bondholders to convey or assign |
their interest in the work. Mr.. Blythes bill
is designed to authorize the formation of
Canal Companies, to take a conveyance and
possession, and managementof such sections
as they may acquire from the present hold |
ers of the Canal. This is all that is desira-
bic that the Legislature should do.
The discussion of the subject has been at
tended by one great beneft-whether the
Canal be retained or relinquished by the !
Bondholders; it has awakened public at
tention to the vast Importance of the canal
even under the mal-administration of its
affairs--to the prosperity ofthe State. This
new conviction of its Importance and value
will induce the people to give it more at
IeQLlOh stIlu lIlSlSJ OIl u ANS
management. The drones and sinecurists
who have lived for years on its declining
revenues in utter neglect of its interests, will
be made to give some heed to their duties.
If the agents of the bondholders will not
give it up, they will be compelled to keep
the work in order, or the people will enforce
Il forfeiture through the courts or Legisla-
ture and take it from their control with the
lands still belonging to it.
The canal extends 1886 miles diagonally
through the State, from its Northeast boun-
dairy line to it's extreme Southwestern
limits, passing through fourteen of its rich
est and most productive counties. The APP
praisers of real estate in many of those
counties have declared that they should es-
innate the decline of land, caused by the
abandonment of the canal-mismacaged
and neglected as it is-to be not less than
30 or 80 per cent. This fall in value would
be a greater loss to the State than the whole
sum expended upon the canal. This state
ment proves that though the canal may be
an entire loss to those who built it, neither
the money nor labor invested in it has been
lost to the State. The expenditure has APP
peared in another form, and though tits not
paying dividends in canal tolls, it is paying
interest in the improvements of farms and
real estate along it's line.
Mr.. Rice, a member from Tippecanoe, in a
A. 7 oo;e1o+,,ra on Wednesday,
said his constituents annually shipped mil
lion of bushels of grain upon the canal
That last year. when the canal was unnavi-
gable, they were compelled to haul their
grain to the railroad to be forwarded at an
increased expense of five and half cents
per bushel, making the additional costs OF
shipment, and the loss by the interruption
of canal navigation, $4,000 for one year.
He thoughtsthe injury to the fourteen coun-
ties-through which the canal passed-could
not be less to each. He estimated, there
fore, the aggregate loss to the farmers in
those counties by suspension of navigation
on,the canal for one year., at nearly $4,000
If the canal be of such vast importance UNI
der its past wretched administration, how
immense will be its value under a system OF
efficient and improved management that
would secure confidence in its permanent
navigability. .5 -
In the leases given by the State for the
use of water power, it appears there are
provisions by which the lessees are entitled
to damages in case of the failure of the
canal, which damages are to be assessed by
referees-one chosen by the State and one
by the lessees, and these to chose the third
On the canal east Of Lafayette these dam
ages would amount to more than quarter
of a million of dollars and the amount
South of that point that would be claimed
cannot be less; the State thereiore-if the
canal were acknowledgements become liza.
bic for at least half million of dollars.
We observe, in some of the counties no
intersccted by the canal, an ayowed indif
ference to the results of the canal discus
sion, and dissemination to have the Leg
islature NEEDLE ut all with the subject, be
cause, as they think, it is a matter that vii
not fleet them. BY showing them tina
the destruction of the canal will reduce tn
taxable property, in fourteen counties, 81,
or eight millions of dollars, and entail cost
of 100000 annually upon the farmers @
those counties, and render the State liabl
in damages for over half a million, ever
county in the State will feel that it has a
interest in the canal question, and will b
willing to do something to preserve so i'm
portant a work from ruin.
Legislative Summary.
In-the Senate, the Bill creating six add
tional branches of the State Bank, and sui
jecting all the branches of the bank to mt