Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1874-11-19
The Peninsular Ship Canal.


SALE OF BoNDs-How THEY SET FORTH THEIR
ENTERPRISE
Col. Forney writes from London that the pro-
ject of the Maryland aud Delaware Ship Canal is
now being pushed in financial circles there, with
the view Of selling its bonds. He says
In this connection the project Of constructing
. ship canal across tho peninsula Of Maryland
and Delaware, uniting the waters Of the Chesa-
peake and Delaware bays, has been much dis
cussed in London commercial circles. This
scheme, which was the subject Of a resolution Of
Senator Cameron last session, will open up an
immense tract Of country to settlement, and al
80 an incalculable trade between Baltimore and
New York. The route, which has been careful
~ surveyed by eminent engineers, is called the
Bassafrss route, and the distance from the
point OF the Sassafras river to the mouth Of the
Blackbird Creek, OIL the Delaware Bay, is seven
teen miles. The head Of the Sassafras river
and that Of the Blackbird Creek meet in the CEN
tresOf the peninsula at the same point, snd for
merly the tides of the two great bays flowed
within three miles Of each other. It is propos-
ed to cut canal across this peninsula, which,
under tho Delaware charter must be at least rs
feet wide and 2l feet in depth. The Maryland
charter requires the canal to be at least IL feet
deep, and 60 feet wide upon its surface and 40
feet wide at the bottom. The company created
Of some OF the most prominent men in New
York, Maryland and Delaware, with full powers
to issue four millions Of bonds, bearing interest
ct six per cent, and capital stock, and is also al
lowed to own ships To give some idea of the
vast advantages Of this proposal. now most IA
yorably considered by some Of the capitalists of
London, cut the following extract from the
official statement
'It lessons the distance by water communica-
ton from Baltimore to all the Northern and
Eastern and European ports about two hundred
and twenty five miles, besides avoiding tho dan
gers Of navigation around Cape Charles, thereby
oheapening transportation Of freight and the
saving OF insurance; as, for instance during the
last year there were shipped from Baltimore
over l,2O0, 900 tons OF coal, the freight on which
by sea to New York, was 52.15 per ton, and 81
by rail. ly this canal coal could be transported
for u. per ton, and in the same space Of time.
The same remarks are equally applicable to IRON,
lumbcr, lime, tobacco, flour, which constitute
extensive shipments, and all other freights. Tho
frnit-growers Of the State Of Delaware paid dur
ing the year 1872 the sum of $3.50, 900 for freight
on peaches, and the farmers on the Eastern
Shore Of Maryland paid very large amount for
freight on their products. These are now car
gied by rei Pet.nlanrn in vsat quantities would
be carried through this route. The traffic between
Baltimore and Philadelphia is large. The receipts
Of the Chesapeake and Delaware Canal, small
canal running between these cities, during the
year ending in 1870, the last report published,
amounted to ll4.2O2.95, and the whole ex-
penses incurred during the same period were
$l3S, 8dO. 30, netting :275,34266. Thore is no
reason why the Maryland and Delaware Ship
Canal Company should not take, if not all, at
least greater part OF this trade, as tho trans
portaton through it wonld be quicker and
cheaper, and entirely free from the detention
incident to horsepower and the use Of locks. It
now takes sixteen hours to pass through that
canal from bay to bay, while it would hardly take
more than five hours at the utmost to pass
through the canal in question. The amount Of
receipts and expenses Of the Chesapeake and
Delaware Canal is taken from Poors Manual Of
the Railroads of the United States(p. 403), where
the nature OF the merchandise shipped is set
forth in detail. II is Of great variety. Lumber,
timber, lime, grain, flour, oysters, stand out
prominently in the list OF freights. These
would be greatly increased by q more rapid
transportation. The Maryland charter Of this
horse canal forbids its becoming ship canal,
but it would be entirely imprasti,sabe i the