Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1876-08-29
ALEXANDRIA, VA.
TUESDAY, AUGUST %, 1876.

A PAID OFF Distributing the darkest
period OF the existence OF our old iowa. "neo
everything was at standstll, and the progress
of the iowa so slow that in ten years Its popu-
latiop Increased but twenty-five souls; when
the town had been just ravaged by hire, and
when, without hope at home, the faces OF al!
Young Alexaudrians turned for their future to-
wards the great West, the town determined to
embark in great effort to regain Its trade.
The deslgu of the Chesapeake and Ohio Caua
was one that then captivated every SaDgulne
imagination, and gave promises that lured even
the most sober and thoughtful men OF the com
munitv. The State of Virginia had lncorpo-
rated the company in 1924, aud in the pream-
bic to the charter it Was, 10 language more
glowing than Is usual 10 an act OF the leglsla-
ture, declared to be a work ot"great profit aod
advantage to the people OF this State ana OF
the oeighboriDg States, and may ultimately
tend TO establish connected navigation be-
tween the Eastern and Western waters, so as
to extend and multiply the means and iaclli-
ties Of Internal commerce and personal Inter
course between the TWO great sections OF the
Ioited States, and to Intervene more closely
all the mutual interests aud attectlous that are
calculated to consolidate and pcrpetuate the
vital principles OF uuion.'
The towc was awake on the subject, and 1t
was agreed with cordial unanimlty to subscribe
$3.50 900 to the Chesapeake aud OHIO Canal,
ana although the taxes previously had been
very liyht, the peope submitted chesrtully to
tax OF IS cents on the hundred dollars. Inc
other district cities We're also greatly Interested
~ the project, and Washington submitted to u
tax of lis cents on real aod personal estate,
aud GEORGETOWN to i like tax OF 5b cents, III
order to make subscription to the great work.
The history of its accomplishment cannot be
told in the limits Of newspaper article, but at
list, with aid from Maryland aud the Onlted
States, and the issue of bonds, the work was
carried to the coal fields, and aquarter OF
century afterwards the sons OF the men who
had made the subScri ptlon 10 1927 kindled bon
fires on the hills near town to s:guaze the Joy
of Alexandria at the completion OF the work to
the Cumberland coal fields.
Long before this, however, the money to pay
the subscription had been borrowed 10 gullders
from company OF Holland merchants, and the
United States had guaranteed the payment OF
the debt, and had provided that on the occur
renee of any deficiency 10 the sums collected
for the payment of the creditors, the extent OF
,,,ob 1o6ciapcv Should HI, asoartainad by the
Secretary of 1.-The Treasury, and the creditors
should be paid Interest at the Treasury of the
Ualtad States.
The people soon became FESTIVE under the
tax The Chesapeake aud Ohio canal was yet
unfinished, aud in order to be sure Of its ad
vantages Alexandria was making ready, at u
great expense, to construct the Alexandria
canal to GEORGETOWN, where the q. i y. canal
eaded. 1t grew to be a common saying that
the town was ''mortgaged TO the Dutch, and
the Holland debt was the grievance of the day.
Finally Congress assumed the debt, paid the
Holland merchants, and left the town free to
contract more loans and 20 yet more heavily
into debt. This Was one debt paid of. The
$3.50 900 thus subscribed disappeared from
public notice for many years; but in 1872 it
again saw the light as 40 asset on the credit
side of the annual report of the finance CON-
mittee, thus due from G. & 0. Canal Com
papy-$250 00O.' 1t again appeared in 1878,
but since then has been dropped, as an asset of
no value.