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vote was taken. It was the duty of the State of Mary-
land to vote her own stock through her own agents, and
prima facie the high officers who now performed this
duty were the proper ones to do it.
He thought it was a most unfortunate thing that the
State of Maryland ever had anything to do with this
canal. He had always thought it bad policy, and that the
true interest of Maryland was to do as Virginia did—
abandon it, and let her $250, 000 go. The work never did
inure to the benefit of Maryland, but to that of Virginia,
and it was for this reason that Virginia had embarked in
it. It had its terminus in one of her cities.
He was a member of the Legislature in 1844, when the
act providing for the issue of the bonds to complete the
canal was passed. It was never estimated then that to
complete it would require more than $1, 300, 000 or $1, -
400, 000, and the reason why the $1, 700, 000 was issued
was because of the uncertainty which it was supposed
would attend the payment of the interest. They were
really obtained at 60 cents on the dollar, and this was
considered a sufficient payment.
By all the laws of justice and equity, these parties are
entitled to but the $1, 700, 000 and simple interest on it,
but they come here and ask for $4, 000, 000, which is com-
pound interest. Out of whose pocket is this to come?
Not the canal company, but actually out of the treasury
of Maryland. There was great force in the arguments
made against political management, and he appreciated
them, and if Maryland could do like Pennsylvania and
New York, sell out entirely and get her $17, 000, 000 back,
or even one-third of it, it would be the best thing that
could be done, but not to hand it over to outside parties for
fear that your Governor, Comptroller and Treasurer may
become corrupt. He did not believe it was the interest of
these parties to make the canal pay beyond a certain
amount. All they need do is to produce a revenue of
$400, 000 and their end is accomplished, their interest is
paid and the bonds will become negotiable. Under this
section they can retain control of this work indefinitely.
When Mr. A. concluded the Convention took a recess
until 8 o'clock P. M.
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