eration of these different estimates and actual expenditures, we are fully persuaded that this great work will not cost more than 20,000 dollars a mile, or six millions of dollars in the whole; but willing to make every possible allowance; and even conceding that it will cost double that sum, yet still we contend that there is nothing which ought to retard its execution. The canal cannot be made in a short time. It will be the work perhaps of 10 or 15 years.
The money will not be wanted at once. The expenditure, in order to be beneficial ought not to exceed 500,000 dollars a year, and the work may be accomplished in two ways, either by companies, incorporated for particular sections of the route, or by the state. If the first is resorted to, pecuniary sacrifices will still be necessary on the part of the public, and great care ought to be taken to guard against the high tolls, which will certainly injure, if not ruin the whole enterprise.
If the state shall see fit to achieve this great work, there can be no difficulty in providing funds. Stock can be created and sold at an advanced price. The ways
