The American Annual Register for the Years 1826-7, Or, the Fifty Year of American Independence

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1828 edition. Excerpt: ...roads. In the year 1798 was incorporated a company for opening a canal from Philadelphia to Man i.iou n, a drstance of about sixteca miles; and in 1792, another for the construction of a water communication, partly by canals, and partly by creeks, from Reading 10 Middletown. on the.-Misqiieliaumi, a distance of about seventy-six miles. The capital of each wns $400,000. The schemes were both examined, and pionounced practicable, by Mr. Wcsten, an accomplished surveyor. The cost of the first he estimated at $400,000, of the second at $1,221,330. The secretary of the navy, however, in his report, differed from Mr Westen, and made tlie cost of the fiist amount to #530,000. In 1794, the sums expended on the first amounted to $420,000; and at that tinin not more than one third of it was completed. As its funds were expended, and no more could be procured, no further progress was made. Id relation to the other, the result was still more unfortunate. In 1796 it was so near completion, that in two weeks it might have been in use. There had been authorized in its favour twolotteriss, from the first drawn of which was realized the sum of $50,000, but owing to ill conduct on the part of the persons intrusted with the management of the second, its prizes were not paid; and by these means the company lust the funds necessary for its purposes. The principal difficulties had been already overcome; the heavy digging of the summit level, the towing paths nnd locks were all very nearly finished. The company was by this disaster thrown back; a considerable number of the subscribers declined to pay their instalments; suits were instituted by claimants; the sites were, in many instances, sold by the sheiiff; and thus, all hopes of the immediate improve ment of...