|
|
|
political management was not to be denied, but when this
work was nominally finished, in 1851, it was not really
finished.
It was known that many of the disasters to the canal
were due to the breaking away of dams which were not
completely finished, and from the embarrassed condition
of its finances from its very inception. Even had there
been no claims upon it, it would not have been prosperous
in its first years. But it had progressed from year to
year. When there has been a chance for increased busi-
ness, the canal has been hampered by its political man-
agement. Men have been unwilling to embark their for-
tunes in it when they knew that the tolls would not be
graduated to draw the carrying trade, but in the interests
of a rival company which always had and always
would compete with it. He proposed, then, to do away
with this political management—to give the management
to those who had a direct pecuniary interest in it—to let
those who lived along the borders, and were concerned in
its success, also have a share. It was argued that if the
State did this it would be recognizing the scrip debt as a
State debt, but this could not be so—the scrip debt was
the debt of the canal company. The plan that should be
pursued was to develop the resources of the country trib-
utary to the canal to open an outlet for the great mineral
wealth of Allegany. Mr. W. argued that under no con-
struction could the scrip debt be claimed as a State debt
in consequence of the adoption of his proposition.
Mr. Wilkinson said the object of his proposition was to
leave the canal in the hands of the State as now, and de-
clare unconstitutional the act of 1867, which gave these
bondholders $240, 000 interest instead of $120, 000, which
was all to which they were entitled.
Mr. Wickes considered the amendments obnoxious to
every objection which had been urged against the main
proposition. The question that devolved on the Conven-
tion was to protect the interests of the State. The propo-
sition of the gentleman from Allegany is fraught with
danger to the State; not that the gentleman intends it.
Who can tell what long accounts will be presented by
these contestant parties? Who can tell what plans will
be projected and combinations formed to get the control
485
|
|
|
|
 |
