can be offered, in proof of the justice, and necessity, of the pas-
sage of the bill, which the committee has the honor to submit.

We do not perceive how the Legislature can with propriety,
adjourn and omit to pass any law on the subject of our delibera-
tions. To the committee, there seem to be obstacles, in the
way of those who have charge of this great public work, that
cannot be removed, but by some remedial law, to be passed by
the Legislature. Hitherto the President and Directors of the
Canal Company, have, managed to repair damages on the canal,
and pay officers salaries, by borrowing money for that purpose.
The incomes of the Company have been inadequate even for
those objects. These incomes for seven years last passed have
amounted only to $853,689 47, the expenditures, for repairs and of-
ficers salaries, for the same period, have exceeded the receipts by
$65,194 86. In this state of affairs debts have been contracted by
the President and Directors, to the amount of $463.000, in aid of
the income without which the Canal must have been closed up alto-
together. Of these debts $200,000, is due to the State of Virginia.
The other debts of this class, are due to corporations and individu-
als, and as the income of the Company are insufficient to pay these
debts, and its current expenses, there will be no means for their
liquidation, unless some such bill is passed as the one the com-
mittee recommend. In addition to these existing debts, there
are other unavoidable engagements to be met within the next
twelve months, as will be seen by reference to one of the state-
ments appended to this report. One of these arises under a con-
tract entered into by the Board of Directors, for building the
stone dams across the Potomac. Speaking in reference to these
dams, the President of the Company, in his report to the stock-
holders, made on the first of last June says, "It is morally
certain, that neither salaries nor debts due for repairs, nor other
debts of whatever character can be paid, either interest or prin-
cipal, for any considerable period of time, unless permanent
dams can be erected, and the Canal put in substantial order."
And in another part of the same report the President says: "The
plan of the present Board is, to build the masonry dams without
delay."

Looking to this state of affairs, the committee do not perceive
how the Canal is to be kept open for navigation at all, without
some such aid, as the bill will afford. The incomes of the Com-
pany are insufficient to pay current expenses. They cannot be
relied upon to pay the $263,000, now due, to pay judgments
against the Company to the amount of $100,000, and to pay
$100,000, for the construction of these stone dams. Within
the next twelve months, unless some remedial measure be adopted,
it is most probable that the Canal as a means of transportation,