9

debt, to be afterwards paid, and encouraged those who were la-
boring for these several companies to persevere, in the expecta-
tion that their claims would be, at some subsequent period, fully
paid.

At a period subsequent to the passage of the law to which we have
adverted the Legislature, still more distinctly signified, that Mary-
land would never consent to have their laborers on the canal
lose their claims.

By the act of December session, 1842, chapter 301, the trea-
surer of the State was authorised to receive proposals for the
States interest in the C. & O. Canal Company In the second
section of that act it is provided, that before any transfer shall
be made of the interest of the State in the said Chesapeake and
Ohio Canal Company, the president and directors shall, in proper
form, secure the holder of scrip and other creditors of said company,
the payment of said scrip and debts, within twenty years from the
date of said transfer, with annual interest at six per cent. In animad-
verting upon the law, we cannot overlook the fact, that it was not
prompted by any memorial or petition from these creditors. It was
a voluntary act of justice by the representatives of the people of
Maryland. They were about to offer for sale the State's right to
control the canal company. It was known that there was a
large number of meritorious men, who had faithfully labored to
give value to an expensive public work, under the direction of
State officers, and it was felt, injustice might be done to these la-
borers, if they were to be made to depend upon those who might
purchase the interest of the State. Hence the precaution in
the law. The directors of the canal were required to secure
these debts in proper form, that is to say by such instruments of
writing known to the law, as would suffice to insure their pay-
payment. The Legislature did not stop to enquire, whether, the
State's interests would be of little value or of no value at all,
by placing on record a mortgage in proper form to make these
debts safe. The Legislature knew, that these debts were honestly
due; they knew that the value of the State's interest would be
lessened by securing their payment by a mortgage on the canal.
Nevertheless, the law directed that it should be done, so that all
who desired to purchase the State's interest in the canal, should
do so with a knowledge, that this interest was to be subject to a
mortgage, intended to secure the payment of every dollar of the
debts of the canal company. This is all in this respect, that
the bill now reported designs to do. In the third section of the
bill we propose to secure the payment of these claims in proper
form. And we shall be much gratified if these long deferred
measures of justice meet with the approbation of the House...

We can readily suppose that the honest claims of the credi-
tors of the canal company, may be projudicial by the recollec-
tion, that so large an amount of public money has been unprofit-