New-York tribune., 1874-03-31
OF the Bankrupt law, and an Appropriation
tpvo tionO Of n plow.

modification OF the Bankrupt law. aud an Appropriation
| for the invention OF stoam plow'
THE LOUISVILLE AND PORTLAND CANAL Bill"
| Mr. WHEELER Oicp, N. W, from the Committee on
Commerce reported back with amendments the senate
b providing for the payment OF the bonds OF Tn ebos
vilc and Portland Canal Company The bill continues In
nrce the appropriation made IN the River and hsrpor o
of March 1871 for tho OF the debts OF the LOUIS
nlle and Portland Canal Company and makes IS ~ w pei
nssssfy snail bc applied 20 pay Of the inere st
sar Su, he secrsary Of 6e Treasury buy any Of
such bonds at fcir market price, not above par par
cssury Co tnke possession OF the canal aud all lts
property subject 90 the mortgage securing ths oon1s
directors bcing sco 10 each director with six per cent
interest The Sh OF February 1885, and IS ~ oooGt M
any money due ~ or held for the Company Oy lts
directors or the trustees. by any person whateveIi
Tue rbrd section provides hst th onhai az s nic free
of tolls aud charge except such as are necessary 10
pair The tolls for present are TO be 10 cents
per ton steam vessels ond cents on Othcr VeSSs,
Mr. WHEELER offered amendment on ms own
behalf for0dding any payment until after the State OF
kentucky shall have codei TO The United states eh'ie
Jurisdiction over the canal and all its property. 49,
Mr.. BANNING lib. Rep, Oho) gave history OF tue
canal. and explained and advocated tIe bill. -,,,,,
The discussion was continued by Messrs SiASDnn Dn
FORD (Dem, XVI. LAYLOR Dem, Ohiol. SfANAkD
rep MOI. aud NEGIEY Rep" Penn all OF whom az a.
voclted the bill in the interest OF cheap reEhts on 'no
Mr. WILLARD Gep. VI OpPSsed n The bin and and 1oS gave
the for his opposition The bill would take ron
the Treasury sl25Oco and that fact IT no other made
OF
of the Ohio had been IN operation since ISL snce ", IN
time the Government had been part owner OF ~ an az,
the expenses and cost Of the canal down 10 1867 ha pee
received back in tolls that the Government had been
reimbursed it's outlay it, and some s25 600 more
o tbe % impToyemeHt of the canal 81 8C for which
the Government had got return whatever Tue blll
@ m6re InS. to 5s se Sp and cancel the bonds to
amonnt which bonds were mortgage lien on the canal
I' iSs t arS Of te frassny had not
for certain reasons Scrna deemed pIopyr pay the
money aud take possession of the canal THIS Dill ,c re-
appropriated that o. with some VspId OH
yate the objections the measure Tue bill proposed,
oiIer the Government should take possession of the
canal TO fix the tolls at 10 cents and cents tOn an
verage OF "A cents In his Judgment those rates wo @
wholly inadequate to meet the current rate
so cents ton, was s2OlOJ ana II was ooNoS nu
a the rate was u cents the receipts on the same volume
of business would be only about onesevsnth as nucn'
The monthly EXPENSES exclusive OF repair. averaged
Sc 600 or S72 COO year Ii obvious, therefore, hat
the tolls provided would not meet half the current sh
penses TO nothing of repairs lie hoHgh' tnc cye Seo
then it was very doubtful whether Sufficient wouu pe
realized to pay the current & penseS ncn anC si rail
road, and he could not see why, the onI mT'erm thc
% %nt x0 the S keen ohio up Rver ems ne D'
would not justify the Government IN purchasing tno
IN the Toiroads of the country and running them at
Government expense He admitted that II the U9veru
ment was putting any burden beyond what
| rnmmerce could bear, it should be removed But tue
| Goyernment could not relieve interest, or one
class from taxation without bringing another c'ass
| or another interest under taxation. II tne
! Government were 10 go into IN, tms DuSauss' uSarto
ton for that was substantially the theory OF TINS p'
il would simply be taking the burdens OF commerce,
which was abundantly abo TO bear them, ana putins
| them upon the people. The Government must haft
revenue. Money did not come from the clouds ~ ohy
COT into tho Treasury by being taRen from e
fbe people. II the Government were to 20 INTO tle
business of furnishing free iransporaon ITS inua
penses, instead OF being s5OOOCVJO Houiu pe w,
and then there would De reaction aValhSt
taxation. He intimated tnat che prmtpe OI ,n,I @ J r
| would bring the Government 10 communism anu nc
suggested amendment thdt no exrehdiIu ure siai m
made the canal in any one year greater tnah 'ne
| amount received for tolls. -.
Mr.. KAssON Rsp.. IOwa) had nothing to say against
tie policy Of the bin which was 10 emanclpa,e con- ON
from tax4tion The 0hect wac iauuaee pr } t ho
means OF cODplislng 1t presented question iVl 'e
% Su9e o Ks sbe consent of The state of Kentucky
conf jurisdiction the canal on the United oiaes
payuient Of nearly Sl.25oOO' until he state OF Kentucky
"a re clean bill of sale 10 the United states Govern
Nj CoBURY (Rcp., In1) replied to thel objections OF
McSsls. KsssOn and willard anal suggested Una" ,v
clmc unuer the principle as that when Jnstned
the Government IN building lighthouses ureoEng 0n' %
the entrance TO NcW-1ork h9ID0I, ana TeoFns M or
| structions from the ST. Clair Flats ana the Deuot
Me- woOpFORD Rep.. n. W said that!this was one
great nation and the great rivers OF the country
anould developed and their navigation facilitated
the p but he would simply suggest belief that the
state OF NewYork, with its great cOmnerca interests
ternal commerce precisely as 1t favored everything
that developed external commerce. ne. therefore, &
should gladly do all in his power TO make the rivers luo
! highways OF internal commerce.
| Mr. HOLMAN Dem, InI) replied 10 the objections
| made To the bill, aud argued IN support OF It.
Mr.. sPEER Dem., PENN remarked that the passage
Of mis- bill would send the bonds of the canal company
up to par suggested that the price paid for them
hy the Government should be that pad by their present
| holders
Mr.. HOLMAN remarked that the bill did not require
the bonds 10 paid until maturity The interest had
always been paid. He appealed 10 the House to pass
the bill ia the interest of the people OF his section oI the
country. He quoted the report OF Gen Wezel TO snow
that an average toll OF cents ton would lie sum
the cost Of repairs and the current eA
penses.
Without dsposng OF the question the bill went over
| until tomorrow.
Nj. KELLY Rep., PENN asked leave to report from
| the Committee Ways aud Means, aud have passed,
the b admit free Of duty articles intended Tor the
International Exhibition OF 1876, with provision mat
any articles sold withdrawn for consumption shal be
| liable for duties.
| Mr.. GARFIELD G.ep. Ohio suggested that the word
I "Internatona" should be struck out, and the WORD
| Centennial" " substituted
Mr. KELLY objected to making that alteration. and
was sustained in that position by Messrs MIER (Rep,
| PENN and RANDALL (Dem., PennD
| Mr.. GARFIELD then obj scted TO the bill, and 1t was
| Withdrawn.
| The House then, at o'clock. adjourned.
COMPUTATIONS BY THE SENATE.