The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-01-18


pie along the line, and shows them what is
to be done, and the necessity of prompt and
efficient action in the case. The Judge has
displayed zeal and activity in the business
that reflects the highest credit upon his pub
lie spirit and business energy:
Communicated.
Mr.. CARLrLE Dear Sir:-Last Thurs
day morning 1 was shown letter addressed
to yourself and other gentleman of the city,
from DR.. Barton, stating that the Board of
Canal Trustees had determined to close the
canal, and had agreed upon report, and
would adjourn the previous day (Wednes-
day. to Indianapolis, to make their report to
the Legislature.
Feeling deep interest in the canal, and
being anxious to hear as much as | could of
the cause, and the possible mode to avert
the evil, Immediately took the cars for In
dianapolis, as I was anxious to see Mr.. But
Ter before he left, and learn from himself the
future design of the trust. On my arrival
at indianapolis, found the Board had made
IUtlE IcpOIb W lilo uAo WOiO
ready to leave. ], however, found Mr.. But
Ter, Mr.. Bowling, DR.. Barton and the Chief
Engineer, Mr.. Jesse L. Williams, all there
They all acted with spirit of frankness, and
all seem to regret the situation of affairs.
The immediate cause that led to the deter
mination of closing tho canal was the dis
astrous food of June last; a food unprece-
dented since the construction of the canal,
and which caused great damage all along
the line but more especially near Lafayette.
The repairs cost upwards of sixty thousand
dollars, and navigation was closed thereby
nearly all summer, and the less in tolls was
more than the repairs, leaving the trust at
the end of the season without the means of
putting the canal in repair for Spring use.
They all seemed to think that an apprepria-
ton from the State treasury by the Legsla-
ture was the only remedy. Mr.. Butler and
Mr.. Bowling make out very good case
against the State. They say all the benefits
contemplated by the arrangements of 1916
and 1s47 have Injured to the State, and all
the benefits expected to be derived therefrom
to the bondholders have entirely failed, and
this caused by the Legislation of our own
State The browning act of all was the
building of the Wabash Valley Railroad /;
that has drawn the life blood from the canal
and left the railroad itself bankrupt.
The bondholders relinquished about half
tba Ctota dahf and oduonoad GQ00 nm in
money for this Canal, on the implied faith
of the State that no competing line should
be placed in close competition with Land, to
prevent any unfair monopoly, reserved the
right to regulate the tolls, and after all the
benefit had Injured to the State, they suf-
fer a Railroad to be built along side without
providing any guard to the vested rights OF
the Canal, not even the right to equalize
freights. Under these circumstances the
Trustees think it would be nothing but a
stnated share of justice to give back to the
Canal small pittance of the amount that
has been unfairly taken from the trust, by
this reckless competition, especially MS its
outlay will keep in operation public work
of the State, that has added, and if contin-
ued in operation, will add millions to the
taxable property of the State. That the
trust has no means to apply in putting the
Canal in order for Spring, use, consequently
without Legislative assistance; they have
.IG no alternative but to close the Canal.
The truth is, the Canal is in a very bad
situation, and in great danger of going to
utter ruin. 1t was taken in charge and held
in trust under the act of Jan. 10, l84G, and
supplementary acts thereto by the present
arrangement for three objects: First, the
settlement of the " funded debt of the State
Secondly, the extension of the Wabash anG
Erie Canal to Evansville and thirdly, the
refunding to the bondholders the money ad
vanced, and for the bonds surrendered.
The first object was fully accomplished
nearly half the bonds of the State were sur
rendered by the bond-holders. They under
took the completion of the canal to Evans
vile, which has been partially performed
but neverwell done, yet they expended tn
money contracted for, and have no securit,
but the canal and canal lands, and the pros
pect of it ever paying them one cent is pas
all hope. s as s--ee
But the question is not of refunding t.
the bond-holders--they have no remedy
the State could not refund it to them if
would-the fundamental laws of the Ian
forbids it, and the contract is clear an
binding on them.
The other portion of the arrangement
ga the extension of the Wabash and Fri
Canal to Eyansville-how can that be pr,
served2 A state of affairs has arisen neve
contemplated by the Act of the 10th (
January, or any supplementary act theret
1t was never contemplated that its re'
enues would ever fail to keep it in repai
and no provision is made for the contingenc
The only provision made for its passir
from the hands of the trustees are, after r.
funding all bonds surrendered, and intere
thereon, and money advanced and intere