Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1860-01-17

be taxed, ii at all, not by uncertain as
sessments, but by reserving from pay
ments Of interest sums equal to the av-
erage taxes for all purposes on other
property of equal value. If it be OBJ
jected to this mode of taxation, that it
takes back with one hand the interest
paid with the other, and is therefore
equivalent to mere refusal to pay the
full rate stipulated, the answer is obvi-
Gus, that the same objection applies, just
as forcibly, to every mode of taxing
bonds given for money loaned to the
State. 1t is very serious, and, in my
judgment. an insuperable objection, un-
less the right of taxation be reserved on
the face of the bonds when issued
Whether bonds bearing such reserva-
tions will find takers, can only be deter
mined by trial. That they will not, is
more than probable; and if they will not
it is certain that the taxation of State
bonds is alike impolitic aud unjust.
| recommend, therefore, such legislation
as will give the suggested discretion to
the Commissioners, fix beyond liability
to alteration the rate Of interest, and Sc
cure the control, reduction and final pay,
ment of the debt, at the earliest time
and in the most economical mode.
The two great lines of canal, includ-
ing the Wabash and Erie, with Their
feeders, cost s12, ITO, 12O; the other ca
nails, with the Muskingum Improvement
and the Western Reserve and Maumet
Road, cost S3,467,112 and the amour
subscribed to turnpike and railroad Com
panies, was S3,226, 500, making an ag
gregate cost of SIS, ,803, ,922.
For number of years the net reve
nues derived from these works though
never sufficient to pay the cost of the in
vestment, were very considerable. Tht
competition of railroads, however, soor
deprived them of great part Of th,
business on which reliance had beer
placed for increase, and at length
marked decline took place. Within thu
last few years the outlay for repairs ant
improvements have succeeded the in
come. The real deficiency last year, af
ter deducting the extraordinary disburse
ments directed by the. Legislature, wa
| not large; but there is little room fo
hope that it will be less hereafter, whil
there is much ground for, apprehension
that it will be greater. 1t will certainl,
be greater, unless the introduction o
steam navigation, or other circumstance
now unforeseen, shall enable the canals t
sustain, at less disadvantage, the railroad
| composition. The cost of these works
however, has doubtless been repaid t,
the State in the increased value of land
/ in the counties through which they ex
tend. And this consideration may vel
,abate the censures which the debt con
tracted for their construction is apt t,
| provoke; while it suggests caution ant
/ prudence in dealing with interests S,
important as are involved in their dis
posal.
| | have heretofore expressed the opin
ion that they should not be retained un
der State management, if sale can BE-
effected at reasonable price, and under
such restrictions and guarantees as vii
secure to the people the benefits of trans
portation originally contemplated Thai
opinion remains unchanged. With eco,
nomieal management in private hands
the canals can probably bemade suffi-
t!clently productive to warrant the invest
ment of considerable SUN in their pur.
chase. The reduction Of the debt by
the same amount, and relief from taxa.
ton for interest, recommend the sale lte
the people at large; while the suggested
restrictions and guarantees will prevent
any loss or ineonvenience to the inhabi-
tants of the eanalcounties.
The State stocks in turnpikes and
railroads should rot be included in any
sales, unless the interest on the pricewiil
equal the revenue now derived from
them. recommend that authority be
given to the Governor to appoint an
agent with ample powers to ascertain the
condition of all companies in which the
State holds stock The productiveness
of these investments would, I have NO
doubt, be greatly enhanced by such an
Investigation.
Should you regarda sale Of the Canals
IS inexpedient, and, in any case, so long
las they remain under State management
the propriety of strict compliance, in
their administration, with the directions
of the Constitution will not be ques,
toned. The separation of them into
several divisions, and the assignment OF
each division to the control of single
member of the Board of Public Works
independent, in most importantrespects
Of the Board itself, seems to me not only
inexpedient but Of more than doubtful
constitutionality. [ recommend, there
fore, such notifications of the act of the
last General Assembly on this subject as
will secure to the whole Board the con-
troll Of the Public Works which the Con
stitution commits to its superintendent.
[ also recommend the restoration of that
provision of the act of 1854 by which
the, Governor, with the advice and con-
sent of the Senate, is authorized to APP
point collectors and inspectors; and 1 re-
new the recommendation addressed to
your predecessors, of more stringent pro-
visions regulating the settlement of ac7
counts for repairs and other expenses on
the canals. Under the law, as it now
stands, there is too much room for abuse,
to the serious prejudice Of the public in
terests.
" During the year 1858, as was fullyex-
planned to your predecessors, the sum of
SIG, 1888 was advanced by the Treasurer
of State, upon my advice, concurring
with that of the other Executive Officers,
for repairs of the Hooking Canal, greatly
injured and seriously endangered by re-
cent floods. The emergency didnot per-
nit delay; and as the Legislature had
made no provision for extraordinary
contingencies, an occasion seemed to have
arisen in which pnblic officers ought to
take the responsibility of providing the
means necessary to protect the State
from great loss, and the citizens, depend
ent on the canal for transportation, from
great injury. The responsibility was
4,I-a !