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In this spirit all the acts and doings of the company have been misrepresented by those persons, in the hope of exciting popular prejudice, and of operating upon the Legislature itself, so as to in. dice the imposition of such restrictions as will paralyze our cfforts and prevent our progress; and then in turn to furnish then the opportunity of saying to the world tlíat the company never intend. ed to progress with it. If the company, by virtue of their char. tered riglits; purchase an interest in a tract of land from a settler or other person, which is peculiarly well situated, the pitiful envy of a few of the leaders in this opposition being excited; it is at once proclaimed-Lo! a speculation ! a speculation !! the com. pany are denounced, and the Legislature invoked to enact new restrictions to take from the company rights conferred by the Le. gislature and confirmed by Congress, and which no constitutional power, under our present form of government, can in any manner limit, aller or annul.

Why is this so ?-why is this warfare waged against the com. pany? These questions admit of only one answer-hostility to the canal. It cannot be for the public good; and we challenge the most rigid scrutiny to show that the measures of the company are in any manner calculated to compromise the public interest. If the company speculate in lands, they only exercise the right naturally possessed by every citizen, and which has been legally conferred on them. If no grant of land had ever been made to The Territory, would it be pretended that the company would not have liad a right to invest their means as might best meet their interests? Was it not under the full assurance that the rights con. ferred on the should be religiously preserved, that they incurred the labor, expense and risk in applying to Congress for the rich boon that lias been granted 10 the Territory? And shall it now be said that haviig thus placed in the hands of the Territory the basis of a fund worth half a million of dollars, it shall be used as a rod over them, or as an engine to wrench from them the rights conferred by solemn enactment ? Never, never.

At the best the privileges conferred on the company are barely sųfficent to induce capitalists to take the stock, and our enemies

confidently predict that we cannot get it taken at any rate. If this be so, it appears to us clear, that good policy, to say nothing of good faith, would dictate that those privileges should remain un. impaired. Without incans being raised by the company, it would be impossible for ihe Terri'ory to accomplis!15o work. The sale of its lends if judiciously inanaged, will probably pay one half of the expense, and but litile if any more. Where would lle remain. der be obtained? We as ciiizens of the Territory would not ad. voćate the contracting a debi on behalt of the Territory for that purpose, to be paid by taxation, even if jhe Territory had the law. sul rig’t 10 contract such a debt, which we believe not to be the case without express authority from Congress. If then the Ter. ritory cannot and ought not to contract such a debi, ard possesses no means of revenue, it is evident that, single handed, she could not perform this work, and the attempt would be futile.

A spirit of amity, and an united co-operation of all the available financial elements properly applicable to this measure ought to be cultivated; and with such a spirit we feel no doubt but it will be completely successful. Let the work be commenced under favora. ble auspices, and we feel every assurance that its obvious advan. tages are such as will enlist the public sentiment and feeling in its support, and insure the investment of capital sufficient for its com. pletion ; and not only will it attract the attention of capitalisis 10 itself, but to other portions of our favored country, where the faci. lities and advantages it affords for similar improvements are appa. rent, and thus secure their completion at an early period, which oherwise might remain unimproved and unoccupied an indefinite length of time.

The members of ihis company are, also, citizens and members of this community, and feel a common interest wiih our fellow. citizens in the general prosperity of the country. We are fully sensible that whatever shall promote the general interest, will also promole our individual interest in common with that of every citi. zen. This company is no monopoly, and if it possesses any valuable privilege, that privilege is open to the acceptance of every citizen of the Territory, and we should be happy if the people of the Territory had the means within themselves to advance for the completion of the work, and thus secure to themselves whatever advantages might be found to result. Our great and paramount ob. ject is to see the canal in successful operation, and we would wil. lingly forego all thc direct advantages likely to result to us grow. ing out of the charter, if by so doing we could bave the assurance of its speedy and certain completion by any other means. Let us but have the full assurance that ihe canal can and will be com. pleted by any other means, and we will gladly lay down our char. ter at the feet of the Legislature. We ask no rights or privileges which are not open 10 the people of the whole Territory, and we invite the co-opera:ion of the people of every section to come for. ward and invest their moncy and share equally in the benefits to be derived from the work, and we extend this invitation to those who have assailed us most violently and bitterly. Let them but invest their means, and we will freely yield to them all the advantage that can be derived from the privileges which are conferred on us. But those opponents will not do this. Their object is not thus · 10 advance the interests of the country by aiding in public improve. ments; and it is worthy of remark that the persons in this county who have been most hostile to the canal, have never themselves advanced one dollar for any public measure of any kind, for the benefit of the country.

We have labored indefatigably in this cause, and not only devo. ted to it our time, but a considerable amount of our private means; the result of which, thus far, is chiefly in having secured to the Territory a munificent grant to aid in the prosecution of this ines. timable work. Shall it be said, then, that the country is willing to receive the fruits of our labor, and that in return for our exertions an attempt should be made to disfranchise us not only of rights previously conferred by solemn enactments, but also of the ordi. nary rights of citizens conferred by a beneficent power superior to all human legislation ? · Shall we be the first and only persons in the community restricted from the exercise of their natural fa. culties, in securing such personal benefits as are incident to the

progressive improvement of the country, of which every citizenshistes has a right to avail himself ? We trust not.

Your memorialisis would further respectfully represent, thai, feeling as they have before said, a deep anxiety for the successful prosecution of this work, and coliscquently for an economical and judicious expenditre of the amount which may be raised from the sale of canal lands, they would most respectfully suggest for the consideration of your burly, certain modifications in the act of February last, whereby a considerable saving may be made in the current expenditures, without in any incasure affecting the perma.

renius nent interests of the work.

In the second section of said act, it is enacied that “ the regis. ter and receiver shall cach receive for their serviecs an annual salary of one thousand dollars, and the acting commissioner, an annual salary of twelve hundred dollars ; provided that the whole compensation to be received by cither the register or recciver in salary, commissions or otherwise, shall not exceed the sum of fif. teen hundred dollars in any one year.” Now we believe it will be conceded that for the services rendered during the present year, These salaries are extravagantly high. There has been but one sale of lands requiring the official attention of the register and re. ceiver, which, ingether with the examination and registry of im proved claims, would consume a few hours per day during about two months of their time. In addition to this, they are required to report to the Governor quarterly and annually, the condition of the affairs of the canal as connected with their departments, making four reports per annum, which ordinarily may require two or three days cach, but which during the present year, would probably not require iliat length of time. In relation to the acting commission. er's dutics, ihey are for the present year merely nominal, and so must be until a loan shall be obtained on the part of the Territory, and applicd to the construction of the canal. The appropriate duties of the acting commissioner for the present year have not probably occupied a week of time in the whole, and yet by law he is authorized to receive $1200 for less than one week's actual ser.

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vice. From these facts, it is apparent that the compensation is greatly disproportionate to the services required, and we have un. derstood from one of the commissioners that ho so conceives it to be himself.

In the original bill drawn by the president of this company, and which was taken as a başis hy ihe committee who reported the original bill to the legislature last winter, it is provided that the register and receiver be each enti led to receive one per centum of the amount by them received in payment for lands, and one per centum on all moneys by them paid out in the manner provided by law, and fees for other special duties; which compensation would always be proportional to the amount of business which they must necessarily transact. Also in that bill a commission of ap. praisers was provided for, with a compensation of three dollars per day, for the time actually employed. Establishing this as the rule of payment, the register and receiver would this year receivo about one hundred and thirty dollars each, as per centage; and perhaps as much more for fees, which it is believed would be a fair compensation for the services rendered. And as regards the ac!. ing commissioner, he having no appropriate services to perform, w.juld consequently be entitled to no compensation. Whenever a loan shall have been obtained, the acting commissioner will have some duties to perform; but on a canal, the extent of this, they will never be arduous; and it is believed that three dollars per day, for the time devoied to the public service, will command the ser. vices of any of our ablest men who feel an interest in the success of the canal. If these prices were this year paid, instead of the salaries allowed by law, the amount chargeable 10 tho canal fund for commissioner's salaries, would be about $260, instead of $3,200 ; making a saving of $2,940, without any detriment to the public service. Again,

In the 15th section of the act of February last, it is enacted that “the Governor, by and with the advice and consent of the Council, shall appoint a competent and skillful engineer who shall be known as the chief engineer, whose salary shall be three thou. sand dollars per annum,” which provision presents two subjects

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