fuel, in consequence of high freights.
But this could never recur with these enlarged canals. Indeed, the
products to be carried on these canals would include the whole valley of
the lakes, the Ohio, Mississippi, and Missouri; and many articles, thus
reaching there, thence be carried, on our great imperial railway, to the
Pacific, bringing back return cargoes for the same routes. Breadstuffs
and provisions and cotton would be carried more cheaply through these
canals to the manufacturing States, and their fabrics return, the same
way, in vastly augmented amounts, to the West.
Last year, even during a war, breadstuffs and provisions, reaching
$109,676,875 in value, were exported abroad, from the loyal States
alone; but, with these enlarged canals, the amount could be more than
tripled, the augmented exports bringing in increased imports, and vast
additional revenue. Can we not realize the certainty of these great
results, and have we not the energy and patriotism to insure their
accomplishment? Assuredly we have.
Nor is it only our revenue from duties that would be increased to an
extent sufficient of itself, in a few years, to pay the principal and
interest of the debt incurred in the construction of these works, but
our internal revenue, also, would be prodigiously augmented.
The census of 1860 shows our increase of wealth, from 1850 to 1860, to
have been 126.45 per cent. (Table 35). Now, if we would increase our
wealth only one tenth, in the next ten years, by the construction of
these works, then (our wealth being now $16,159,616,068) such increase
would make our wealth, in 1870, instead of $36,593,450,585, more than
sixteen hundred millions _greater_, or more than _ten times_ the cost of
these works; and, in 1880, instead of $82,865,868,849, over three
billions six hundred millions more, or more than twenty times the cost
of those works. The same percentage, then, of our present internal tax,
on this augmented wealth, estimated at only one per cent., would be
$16,000,000 (annually) in 1870, and $36,000,000 (annually) in 1880, and
constantly increasing. Add this to the great increase of our revenue
from duties, as the result of these works, and the addition would not
only soon liquidate their cost, but yield a sum which, in a few years,
would pay the principal and interest of our public debt.
With such works, we would certainly soon be the first military, naval,
and commercial power of the world. The West, wit
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