Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1862-01-15

Impossible to estimate too highly the import
ance OF this great work to the Comm onwealth
and especially to Philadelphia and Erie and
the hitherto neglected counties near its route
west of the Susquehanna
BY the act of the q April, 1868, for the
sale of the State canals to the Sunbury and
Erie railroad company it was provided that if
that company should sell said canals for a
greater sum in the aggregate than three and a
nan m1illons OF dollars, seventy five per cen
tum of such excess should be paid to the Com
monwealth by transfer of so much of such
bonds and securities as said company should re-
| celve for the same and payable in like manner.
The company sold the canals and reported
that the share of the profit such sale, due
TO the Commonwealth was S2S1 ,250 of which
! $3.50 was paid in cash and for the remaining
| S2Sl 600 the Commonwealth received coupon
bonds OF the wyoming canal company o that
amount, being portion of bonds for $500 900
issued by that company and secured by a
| mortgage of the Wyoming canal, formerly
call the Lower North Branch canal. These
! bonds bear an interest of six per cent. per an
mum, payable semi annually on the 18th of
January and July, and the interest was paid
| by the company to January last inclusive.
The interest due in July last has not been paid
judgments having been obtained against the
company on some of the coupons for the un-
paid July interest, bill in equity was filed in
the supreme court by bond and stock holder
IN which such proceedings were had that by
decree made on the I'd September last the
property and affairs OF the company were
placed in the hands of a receiver.
A plan has been suggested for the assent of
the stock and bond holders which contemplateS
sale of the canal under lawful process. and a
purchase of the same for the purpose of form
| ing new company, of which the capital stock
snail be one million of dollars, divided into
twenty thousand shares of fifty dollars each
OF which each asserting holder of a mortgage
bond for one thousand dollars sha be entitled
to eighteen shares, and each asserting holder
OF fifty shares of stock of the Wyoming canal
company shall be entitled to nine shares. Of
course no officer of the Commonwealth had
authority to assent to the proposal or in any
way to affect her position. 1t is believed also
that the plan is not one that ought to be as
sented to by the Commonwealth and that
under all the circumstances, if the convenience
OF Individual parties requires change such
proposed, the debt due to the Comm onwealth
ought to be first paid or fully secured.
suggest that the Act passed Sth of April,
1861, entitled, fEAn Act concerning the sale of
railroads, canals, &c., should be modified so
that in all cases in which a debt may be due
to the Commonwealth by the company as
whose property public work may be sold,
the purchasers thereof shall not be entitled
to the benefits and privileges conferred by the
Act unless they shall have first paid the debt
due to the State. or secure the same by their
bonds to the Commonwealth secured by
fist mortgage on the work itself.
Icommend the subject to the immediate con-
sideration OF the Legislature las an effort may be
made at an early day to enforce sale of the ca
nal land some provision by law to protect the in
terests of the State would in that case be neces-
Sary.
The wicked and monstrous rebellion which
broke out many months ago, has not yet been
quelled. Every sentiment of loyalty and pa
triotism demands its effectual suppression.
In my messages Of the 9th and Both of April
last, set forth at length my views of the char
acter and objects of the contest which is still
pending. Subsequent reflection has confirm
ed me in the correctness of the opinions then
expressed and to which | refer. In addition
it ought to be understood that leok ing to the
variety and character of her products and in
dustry, her material interest alone would rem
der the preservation OF the Union from the
present assault upon it, indispensable to
Pennsylvania. She cannot afford to have a
foreign power below or above or bounding her
on the Delaware, the Chesapeak or the Mis-
sissppi, and she will never acquesce in such
result, whatever may be the cost in men and
money of her resistance to it.
On the 9th of April last directed the at
tention of the Legislature to the necessity
which existed Tor an improved military organ
ization, and on the 18th of the same month
the Act entitled "An Act for the better Or
ganlzation OF the militia of this Common
wealth" passed, appropriating the of
S5OO,OO0 for the purpose of organizing, equip
ping and armng the militia. On the 18th of
April the President, by proclamation, called
Tor military force of 75,0 600 men, of which
the quota assigned to Pennsylvania was at
first sixteen afterwards reduced to fourteen)
reglmentes to serve as infantry or rifemen for
the term of three months unless sooner dis
charged. This call was enthusiastically re-
tn " npla Of Pnnn IL ia
The first military aid from the loyal States,
which the Government received at Washing
ton, was Pennsy lvania corps which arrived
there prior to the 18th of April. On that day
the passage of other corps from this and other
States through Baltimore was impeded by
force and during nearly two weeks after
wards the communication between Washing
ton and the loyal States was almost entirely
cut off. On the 18th [ received request
from the W ar Department that the troops pre-
pairing in this State should be clothed, armed,
equipped, subsisted and transported by the
State In consequence of the then inability of
the United States. This request was of course |
complied with, and twenty-five regiments,
(being eleven regiments beyond our quota,) |
20, ,l75s men from Pennsylvania
served for the term of three months under |
the Presidents proclamation above referred |
TO. AS the furnishing those volunteers with |
supplies was necessarily under the circum |
stances hurrlSd operation, and as complaints |
were made in Eegard to them, aud frauds were |
alleged to have been perpetrated, appointed |
a board of commissioners to investigate the |
whole subject. A copy of their report with |
the evidence taken by them has been already |
laid before the public. 1t is the intention of
the Auditor General to open the accounts of |
such parties as appear by testimony to have |
been oyerpaid and this course has already |
been taken in two of those cases.
On the expiration of the term of the three /