, 1870-05-27
THE LOUISVILLE CANAL JOB,

The Louisville and Portland Canal cost
about $1,000, 600. The United States
owns ali the stock save three shares. The
canal ceased many years ago to pay interest
upon its cost. The managers, therefore,
proposed to enlarge it, and improve it, with
the hope Of increasing its business, and
Congress Was induced to vote the entire
earnings of the canal to reimburse the cost
Of the enlargement. A debt Of $1,000, 600
was incurred by those engaged in the work;
but the business OF the canal continued to
decrease, until its annual earnings are not
more than equal to the cost Of repairs and
management. It will require 51,2o0, 1000
to complete the work, Of which S2oo, 600
has already been handed over by the secre-
tary of War for that purpose. The cities
of Cincinnati and Louisville arc clamoring
to have the government complete the en-
lsrcement, and, Of course, pay the out
standing debt Of s., GOO, 900, with several
yea1s accumulated interest, We see that
Mr. Senator Sherman, Of Ohio, has re
ported in favor Of taking S250,0o0 Of the
revenue collected from excessive taxation,
! and squandering it on this canal abortion,
/ and That the House Committee on Com
| merce has made similar Recommendation.
! We hope there is enough integrity IN one
| or the other house to arrest this waste Of
| money, We do not believe that this ap-
| rrop1iation for this canal could get re-
spectacle numerical vote in either house, if
stood alone, but it is made an item in CON-
binatiou of other measures, equally unjus-
tifable, and members are thns, for local
considerations, induced to vote thi2 money.
The Louisville and Portland Canal served
it's purpose until rnilways carried off the
once extensive commerce of the Ohio River.
EnlarQinp the canal will not increase the
number Of boats on the river. The trouble
is not in the dimensions Of the canal, but in
the falling of Of the number of boats re-
uuirine il, No trade is lost on account of
the size of the canal and no enlargement
Of will induce men to build boats for
which there is no business. There is a
railroad bridge over the river, connecting
Kentucky and Indiana, and that tells the
whole story why the revenues Of the canal
do not pay the expenses Of maintaining it.
The folly Of this expenditure is shown in
the fact that Congress has already voted the
entire revenues Of the canal to any person
who will improve it and enlarge it, and nc
one will take them. The revenues OF the
c.1al, when enlarged, will not pay the inter.
-. on the additional expenditure and
when it was proposed, some time ago. to
make free grant of the whole work to inc
Board Of Trade Of Louisville, there was a
vehement protest from that body, and from
all others along the river, declaring that the
canal was not, and never would be, able to
reimburse the cost of improving it. In the
face of this candid acknowledgement, Con.
Eresa is now asked TO vote the money tc
complete the work, aad, as proprietor, as.
sume the debt OF $1,000, 600 already e1.
! pended and lost
: All the Legislation needed is joint reso.
! luton authorizing the secretary of War te
} cede and convey to the State Of Kentucky
or to thecity Of Louisville, or Cincinnati, o,
al OF them, all the right, interest, ana