Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1860-02-03
Chesapeake and Ohio Canal.
For the MONTGOMERY County Sentinel. l

For the Montgomery County Sentinel
Mr. EDGToR The measure about to
be introduced into the Legislature of the
State, for the disposal of the States in
terest in the Chesapeake and Ohio Canal,
is one Of such magnitude. that think it
but fair the people should be put in pos
session Of all the information necessary to
enable them to form correct under
standing of the proposition.
In the first place, would like to be
Informed upon the following points -
The amount of all the debts and oblga-
tons the character of each, and the in
terest thereon, Of the Chesapeake and
Ohio Canal Company, ,ohich hare pre-
ccdence to the hens or mortgages held BY
the State Of Maryland.
Also, the Indebtedness Of the said
Chesapeake and Ohio Canal Company,
with the interest thereon, due the State
of Maryland, whether for stock sub
scribed, loans made, or repairs done to
that work, uAich are sa5jeet to the liens
| II he State
Also, all other debts or liabilities, the
character Of each, with the interest
thereon, incurred for, and growing out of,
the construction and management of that
work, and orer 0ticb tie States mort
gage has precedence.
Ifthis information has not already been
officially communicated to the Legisa-
ture, would 1T not be well for some mem
Der to introduce an order into either
branch of that body, calling upon the
treasurer, or other proper officer, for
such Information, so that it might be
promulgated among the people?
Whilst 1 think it very proper that
some provision should be made for the
relief of numerous class Of creditors OF
that work, whose claims are Just and
equitable, and should have been provided
for long ago. yet do not agree that,
under cover of relieving them, it is ne
cessary to sacrifice and abandon all other
interests to what | fear, in the present
instance, is to enuro rather to the benc-
fit Of stock jobbers and spectators, than
to tile interest of the honest creditors Of
the canal. Nor do | think the Legisla-
tnre empowered by the Constitution Of
the State,t to gioe array (snch is the plain
design Of the present project) the inter
est of the people in that Work, with
tout their direct approval at the polls ]
would not however be considered as un.
conditionally opposed to a sale of the
States interest id the canal but | an
opposed to surrcnGering the interest oil
the State without some consideration in
the transaction and if | were called upor
to propose a plan which | would consider
best for all parties, ] DO not know of {
better one at present. than first for the
State to make some direct provision fol
the relief of the creditors of that Worl
and then .foreclosc her mortgage, ant
then sell the whole concern, priv
legos and all, to the highest bidder 70
cash or reliable securities. To wha
extent and in what shape such relic
should be extended would of course be
matter of legislative wisdom and discre
ton but some such action would be ia
preferable to the contemplated measure
which, in my opinion, subjects the in
terests of the State, as well as those of 1
! class of meritorious creditors of the ca
nal, to contingencies which must termi
nate disastrously to both. There il
danger in the whole scheme as at presen
concoeted, and | throw out the sugges
ton, whether it would not be more
proper, before the States interest in the
canal is finally relinquished that any
"Aet' for that purpose should be couples
with proyiso that it shall not take Of
feet unless confirmed by the succeedin.
Legislature, which might be empowered
| By the terms Of the Act, to amend anc
perfect it, aided as they would be by th'
cautious surroundings which two year
discussion on the popular forum would
give it,
In regard to thecommittec which wcr,
sent to Annapolis by the authorities o
Alexandria and the District cities fol
the purpose Of instructing Maryland
legislators in their duties to theii
own State, ! consider the mission
very indicate one, and would repudiat,
it as such but the efrontery' of specula
ting harpies hesitates at nothing, and
think | can discover their agency in thi
attempt, and that the authorities" arr
the catspaws to be used in the accom-
plishment Of their purpose. p.