New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-07-12
FHAT SHALL BE DONE FOR THE ERIE
CdhALf

There is a principle in the carrying trade
which is identical with that law of political
economy by virtue Of which bad money drives
the good out of circulation. In accordance
with this principle articles which can pay but
small freight must monopolize the canal
routes Wheat flour in barrels has only re-
Gently left the Erie Canal for the railroads,
and now the bulk of the grain trade shows
signs of going In the same direction. The
quantity of lumber, coal, iron ore, and such
articles moved in canal-boats, constantly
increases, and the quantity of wheat,
corn, rye, oats, barley, and other grain
perceptbly dminishes. The capacity of the
canal is limited, and the great railways are
formidable competitors. They can form no
combinations with the canal for putting up
the rates of freight, and consequently there
is an "irrepressible conflict" between them.
The population of all the cities and States on
the Atlantic coast, from the Potomac to the
st. Lawrence, are indebted to the Erie Canal
for that rivalry which gives them cheap
and abundant food. Hence they are deeply
interested in having the competition main
tanned in its utmost efficiency. Is it not omi-
nous that the railroads are every year growing
stronger while the canal is growing weaker
In the second place it cannot be doubted
that the great West has again outgrown the
Erie Canal. The wheat and corn which should
come through that channel and down the
Hudson TO New-York are now running off
to Montreal, Boston, Philadelphia, and Bslti-
more. Canada has voted twenty millions for
the enlargement and improvement of her
canals, and her statesmen confidently expect
that within ten or fifteen years Montreal will
take tho place Of New-York as the great de-
Dot of America for the expectation of grain.
When Montreal obtains the exports Of grain,
she will also get corresponding share of the
imports, and the commerce of New-YOrk
will be forced to submit to this double
loss. Even with tho Welland and st.
Lawrence Canals in their present i'm
perfect state, the foreign commerce of Mon
treal is increasing much faster than that Of
New-York. For instance, comparing the
years ended June 80, 1869 and 1872, we find
that the exports Of Montreal increased 90 per
cent in the three years, while those of New
York increased only 81 per cent, to which
some addition should DO made for the in
creased value in 1872 Of the paper currency in
WHICH dIo ITO lmpOlto VI
Montreal increased 20 per cent during the
same interval, while those of New-York in
creased only 4S per cent, the values being in
both cases taken in gold. In this calculation
exports and imports of specie and bullion are
excluded. 1t may be added that Of the ex-
ports of Montreal for 1872 moro than one-half
are of articles not tho produce Of Canada.
The only possible remedy for this diversion
of trade, and the still greater diversion which
is threatened, is tho enlargement of the pres
ent water routes from the Hudson to Lake
Ontario or to tho st. Lawrence. The Erie
Canal may be converted into ship canal
from Troy TO Oswego, or ship canal may
be made out of the Champlain Canal and Up
per Hudson from Troy to Lake Champlain,
connecting at the head of that lake with the
proposed Caughnawaga Canal to- the st. Law
renee. The former would be the shorter