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and thirty-six, become the owner, by purchase, of
|
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|
the fifteen thousand shares of stock subscribed by
|
|
|
the Cities of Washington, Georgetown and Alex-
|
|
|
andria, thus being the first to encourage a work
|
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|
of great magnitude and utility, by owning two
|
|
|
millions and five hundred thousand dollars worth
|
|
|
of its stock, besides expending large sums of
|
|
|
money in explorations, maps and surveys, and
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|
publishing the same with words of encouragement
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|
as to the probable success and profits of the in-
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|
|
vestments in said work; and
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|
WHEREAS, By reason of such liberal subscription on
|
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Preamble.
|
the part of the United States and the encouraging
|
|
|
estimates of cost by its engineers, and the reports
|
|
|
of prospective profits made and published by the
|
|
|
same induced a large number of private parties,
|
|
|
together with the States of Virginia and Maryland
|
|
|
to make investments therein, so that the State of
|
|
|
Maryland has contributed to the construction of
|
|
|
this work up to September thirtieth, eighteen hun-
|
|
|
dred and seventy-five, the large sum of twenty
|
|
|
million nine hundred and forty-one thousand and
|
|
|
seven hundred and forty-eight dollars and twenty-
|
|
|
eight cents; which latter sum the State cannot
|
|
|
increase in further aid of the work by reason of
|
|
|
constitutional prohibitions; and
|
|
|
WHEREAS, The increasing trade and demand for
|
|
Preamble.
|
Cumberland coal leads to the belief among pru-
|
|
|
dent and farseeing men, that an extension of this
|
|
|
work to the center of the coal basin, by the im-
|
|
|
provement of the navigation of the Upper Poto-
|
|
|
mac, would not only repay the investment, but
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|
|
render all investments already made in the Ches-
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|
|
apeake and Ohio Canal productive and profitable;.
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|
|
and
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