USA > Washington DC > Washington DC > Centennial history of the city of Washington, D. C. With full outline of the natural advantages, accounts of the Indian tribes, selection of the site, founding of the city to the present time > Part 30
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The original capital stock of the company consisted of 701 shares, which, at $444;, amounted to $311,560. Of these shares, 220 belonged to Maryland, and 70 to Virginia.
In 1821, the affairs of the Potomac Company became the subject of investigation. Commissioners appointed by Maryland and Virginia assembled at Georgetown June 2, 1822, and afterward reported that the company had expended not only the whole of their stock, but in addition had incurred heavy debts, which their resources could never enable them to pay; that not only the whole of their original stock, but also all their tolls had been expended in an attempt to improve the river; and that the failure to accomplish the objects of their incorporation was attributable to lack of information on the subject
19
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at the time they were incorporated. Accordingly, a low water survey of the condition and depth of water was made at the suggestion of the commissioners, which was taken minutely from day to day in 1822, as the river was descended; from which it was ascertained that the Potomac, from its confluence with the South Branch to Goose Creek, below the month of the Monocacy, is one hundred and fifty- seven miles long; that there was no section of ten miles at all navigable in low water by loaded boats of any kind or description, and that for more than eighty miles obstructions from shallows suf- ficient to stop a skiff were to be met with. A full text of this low water survey is to be found in Jonathan Elliott's "Ten Miles Square."
But from the survey it was evident that the floods and freshets gave the only navigation then used; that these floods and freshets occurred from September 1 to June 20, and much of this time there was ice in the river; and there were times between the floods and freshets when navigation lasted not more than about ten days for full loaded boats late in the year, and about thirty-five days in the spring. These periods were, however, longer below the Great Falls and less above them. Besides the shortness of the navigable seasons, there was con- siderable danger from rocks and the windings in the torrent, which it was hoped would be overcome by the construction and completion of the contemplated Chesapeake and Ohio Canal.
The Chesapeake and Ohio Canal Company was incorporated by the Legislature of Virginia in December, 1823. This action of the State of Virginia was confirmed by the State of Maryland and also by the Congress of the United States. On May 16, 1825, the Potomac Company assented to the provisions of this legislation, surrendering all their rights to the newly incorporated company, and conveying in due form of law to the said company all the property, franchises, rights, and privileges it possessed. The deed of surrender was signed by John Mason, president of the company, Jonah Thompson, John Laird, and C. Smith, in the presence of William Cranch. Robert Barnard was secretary of the company at the time.
The following statement shows the condition of the finances of the Potomac Company at the close of its career:
Capital stock.
Number.
Amount. $311,111 11
Shares held by Virginia ..
120
53,333 33
Shares held by Maryland ..
220
97,777 77
Shares held by individuals
360
160,000 00
8311,111 11
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The total amount of the expenditures of the company from the commencement, in 1784, to August 1, 1822, including original improve- ments, repairs, interest, and expenses of collecting toll, was $729,387.29.
The debts due by the company, August 1, 1822, including interest, were as follows:
To subscribers to the Monocacy loan, 1803. $3,876 49
To subscribers to the Shenandoah loan, 1812.
4,608 77
To subscribers to the Antietam loan, 1812 17,026 33
To subscribers to the Cumberland loan, 1813. 7,642 12
To the State of Maryland, 1814. 39,950 00
To banks of the District of Columbia 101,192 88
To sundry individuals. 1,500 00
Total
$175,796 59
During the period of twenty-three years, from August 1, 1799, to August 1, 1822, the aggregate of the tonnage of articles and goods of all kinds brought by this company was as follows:
Barrels of flour shipped, 1,135,761; whisky, 38,382; hogsheads of tobacco, 4263; tons of iron, 5,476; estimated value of other arti- cles, $215,151.75; value of goods retransported, $180,597.29; tonnage, 162,798.
Work on the Chesapeake and Ohio Canal was commenced imme- diately after the incorporation of the company, but the surrender of the Potomac Company to that company, referred to above, was not finally made until August 15, 1828. The work on the Chesapeake and Ohio Canal for the first year was principally for the purpose of ascertaining whether the undertaking was practicable. During the following year the survey of the route was made, and the data secured necessary to form a general plan of the work, and to make an esti- mate of the probable expense of construction. The Chesapeake and Ohio Canal was to extend from Georgetown to Pittsburgh, in the State of Pennsylvania, a total distance of 341 miles, 1,450 yards; nearly 342 miles. It was divided into sections, as follows: Eastern section, from Georgetown to Cumberland, 186 miles; middle section, from Cumber- land to the mouth of Cassehan's River, 70 miles, 1,010 yards; western section, from the mouth of Casselman's River to Pittsburgh, 85 miles, 440 yards.
The descent in feet from Cumberland to Georgetown was 578 feet; in the middle section, 1,961 feet; and in the western section, 619 feet, making the entire ascent and descent 3,158 feet. The estimated number of locks in the eastern section was 74; in middle section, 246, and in the western, 78; total number 398. According to estimates
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made by General Barnard, the cost of constructing the eastern section would be $8,177,081.05; of the middle section, $10,028,122.86, and of the western section, $4,170,223.78; making the cost of the entire canal from Georgetown to Pittsburgh $22,375,427.69. An estimate of the cost of the canal was made at the same time by Geddes & Roberts, who made it $12,528,019, a difference of $9,847,408.69. The sequel will show how wide of the mark both of these estimates were.
Congress passed three acts relative to this canal -first, the one mentioned above, confirming the incorporation of the company, ap- proved May 5, 1828; second, an act authorizing subscriptions to the stock of the company, approved May 24, 1828; third, an act to enlarge the powers of the several corporations of the District of Columbia, etc., approved May 24, 1828.
Act No. 2 authorized the United States to subscribe for 10,000 shares of the stock of the company, and No. 3 authorized the corpo- rations of Washington, Georgetown, and Alexandria to subscribe for stock in the company. Under the authority thus granted the United States subscribed through commissioners for 10,000 shares of the stock; the city of Washington for 10,000 shares; Georgetown for 2,500 shares, and Alexandria for 2,500 shares. Each share was $100. By May, 1829, the entire number of shares taken was 36,089, or $3,608,- 900, and these, together with the Holland loan, placed the company in possession of funds sufficient to complete the eastern section of the canal.
The first officers of the company were as follows: HIon. Charles Fenton Mercer, president; Directors, Phineas Janney of Alexandria, Joseph Kent of Maryland, Peter Lenox and Dr. Frederick May of Washington, Walter Smith of Georgetown, and Andrew Stuart of Pennsylvania. The treasurer was Clement Smith, of Georgetown, and the clerk, John P. Ingle, of Washington. Robert Barnard was assistant clerk. The corps of engineers was composed of Benjamin Wright, of New York, engineer-in-chief; Nathan S. Roberts and John Martinean, of New York; Robert Leckie, of Scotland, inspector of masonry, and Philibert Rodier, of France, draughtsman.
IIaving thus briefly glanced at the organization of the Chesapeake and Ohio Canal Company, it may not be uninteresting or devoid of valne to briefly present the measures taken by the people themselves of Maryland and Virginia which led up to this organization. Among the first of the meetings held by the people, looking toward the accomplishment of this great object, was one held at Fredericksburg, Maryland, August 12, 1823, at which the project of constructing this
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canal was discussed. It was held to hear read a report of a committee previously appointed to correspond on the subject of a canal with those who, it was supposed, were in favor of it, and who might be able to carry it forward. Delegates were present from Baltimore, Washington, Georgetown, Alexandria, Leesburg, and Rockville. The meeting viewed with great gratification the efforts of the Legislature of Maryland, and the noble-minded participation of the Legislature of Virginia, to effect the contemplated water communication by canal from Cumberland down the Potomac to tide water, and it also felt increased pleasure at the contemplated connection of the Potomac with the Ohio, "thereby affording our fellow-citizens of the western parts of Pennsylvania and Ohio, 'whom we cannot consider in any other point of view than as members of our great political family,' the same facilities and advantages which we shall ourselves enjoy."
A meeting was held in Frederick County, Virginia, October 6, 1823, to take into consideration the subject of a convention to be held at the city of Washington, November 6, 1823, to deliberate upon the best means of improving the navigation of the Potomac. A similar meeting was also held in Prince William's County, Virginia, on the same day for the same purpose. Committees were appointed in each case, and a preliminary meeting was held in Washington, October 18, for the same purpose. Delegates were appointed also in Alexandria, in Prince George's County, and in Washington County, Maryland, and many other places. The convention itself was a grand assemblage of citizens from the District of Columbia, Virginia, Maryland, Pennsylvania, and Ohio. The National Intelligencer said of it: "A volunteer assemblage of citizens so numerous, so respectable, had never been seen before in any part of the Union," and it looked upon the connection of the waters of the Ohio and the Potomac and the Atlantic Ocean as truly a national object. Albert Gallatin was present from Pennsylvania; Bushrod C. Washington from Virginia; Robert W. Bowie from Maryland; and G. W. P. Custis from the District of Columbia.
The convention assembled in the hall of the Supreme Court. Joseph Kent, from Maryland, was made chairman, and General Walter Jones, of Washington, secretary. General Mercer, from Virginia, presented a series of resolutions reciting what had been done to effect the object contemplated, and then made a very learned speech, manifesting an extensive and accurate knowledge of canals, both in this country and in Europe, which was of great service in directing the deliberations of the convention. Up to this time the name used in connection with the projected improvement was "The Union Canal,"
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but at this meeting the name, "The Chesapeake and Ohio Canal," was substituted. The convention lasted three days, the 6th, 7th, and 8th of October, and the following preamble and resolutions were adopted:
" WHEREAS, A connection of the Atlantic and Western waters by a canal leading from the seat of the General Government to the river Ohio, regarded as a local objeet, is one of the highest importance to the States immediately interested therein, and considered in a national point of view, is of inestimable consequence to the future union, seeur- ity, and happiness of the United States:
" Resolved, unanimously, That it is expedient to substitute for the present defective navigation of the Potomae River above tide water, a navigable canal by Cumberland to the mouth of Savage Creek, at the eastern pass of the Allegheny Mountains, and to extend the canal as soon thereafter as practicable to the highest constant steam- boat navigation of the Monongahela and Ohio rivers.
"That the most eligible mode of attaining this object will be by the incorporation of a joint stock company, empowered to cut the said canal through the territory of the United States in the District of Columbia, and in the States of Virginia, Maryland, and Pennsyl- vania, and therefore that committees be appointed, each consisting of five delegates, to prepare and present in behalf of this assembly, and in cooperation with the central committee hereinafter provided for, suitable memorials to the Congress of the United States and the legislatures of the several States before named, requesting their concurrence in the incorporation of such a company and their cooper- ation, if necessary, in the subscription of funds for the completion of said canal," etc.
The other resolutions were very long, but covered the following points: Accepting the act of the State of Virginia of February 22, 1823, as a basis for the incorporation of any new stock company, and accepting it as a charter for the proposed company, with certain modi- fications; changing the name to the Chesapeake and Ohio Canal Company; that the canal should be not less than 40 feet wide at the top, 28 feet wide at the bottom, and not less than 4 feet in depth; permitting the States of Maryland and Virginia to construct lateral canals, and using the waters of the Potomac River. The convention also proposed that in case of necessity there be a subscription to the stock to the amount of $2,750,000, to be divided as follows: Maryland, 1'; Virginia, &; the United States, }; and the three cities of the District of Columbia, A, to be divided among them as they might determine. It was also proposed that a committee be appointed of
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five delegates to prepare a memorial to the State of Ohio, inviting her cooperation in the work of completing the Chesapeake and Ohio Canal, and its ultimate connection with Lake Erie, etc.
By August, 1824, the board of engineers, having finished their first general reconnoissance, of the eastern and middle sections of this great national design, and having no doubt of its practicability, made out instructions for the different brigades of engineers ordered upon the work. They then went to examine the Monongahela River to Pittsburgh, and also that portion of the proposed canal which was to unite the Ohio River with Lake Erie by the Beaver and Grand rivers.
During the succeeding winter the legislatures of Maryland and Vir- ginia incorporated the Chesapeake and Ohio Canal Company, and on May 16, 1825, the stockholders of the old Potomac Company assem- bled, four hundred and sixty shares being represented, and came to a unanimous determination to assent to the charter granted to the new company in the terms of the act of Virginia. On the 17th of May, the central committee of the Canal Convention met at Brown's Hotel in Washington, those present being Charles Fenton Mercer, John MeLean, Frisby Tilghman, John Lee, A. B. Powell, John Mason, and II. L. Opie. Commissioners were appointed by the 1st of July, to open subscription books to the stock of the Chesapeake and Ohio Canal Company, as follows: For the District of Columbia, Samuel HI. Smith, Anthony C. Cazenove, and Clement Smith; for Maryland, Governor Sprigg, Colonel Frisby Tilghman, and Philip E. Thomas; for Virginia, General John C. Hunter, Colonel William Ellzey, and Richard H. Henderson.
Their appointment completed the legal requirements to the estab- lishment of the Chesapeake and Ohio Canal Company. But the consent of Pennsylvania had not yet been obtained for the extension of the canal beyond the line of Maryland to Pittsburgh; in fact, that consent had, in the winter of 1824-25, been refused, with the peculiar wisdom that is so often found in legislatures. But on August 29, 1825, a large meeting of citizens was held at Uniontown, Pennsylvania, which passed resolutions forcibly approving of the canal project, and viewing "with apprehension and alarm the extraordinary and unaccountable vote of the last legislature." Subscriptions to the stock also remained to be secured, but there was every reason, and even stimulus, to cause these subscriptions to be made, both on the part of individuals and the States, as well as the District of Columbia. The price of lands beyond the Allegheny had already been augmented, as a result of the
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movement, as had also the thousands of unimproved lots in the city of Washington.
The central committee of the Chesapeake and Ohio Canal Com- pany met at Brown's Hotel, in Washington, Angust 30, 1826, and adopted an address to the members of the convention, and to the inhabitants of the counties, and corporations of the West, and Penn- sylvania, Maryland, and Virginia, who felt an interest in the object to be accomplished, and giving such information as it could regarding the progress of the work. They said it could scarcely be questioned that the markets of Philadelphia and Baltimore might be brought, by the connection of the Potomac and the Susquehanna above the Blue Ridge and by the Patapsco below it, into fair competition with those of the District of Columbia.
On July 8, 1827, a meeting of the citizens of the District of Columbia east of Rock Creek urged the commencement of active operations on the canal, and the appointment by the Mayor of Wash- ington, R. C. Weightman, of nine citizens to act as a committee, together with the Mayor and two citizens east of Rock Creek, to take into consideration the future of the canal company. Hon. Charles Fenton Mercer was present at the meeting, and was publicly thanked for his services in behalf of the project. >The committee appointed by the Mayor was as follows: Daniel Carroll of Dud- dington, John P. Van Ness, Thomas Law, Thomas Munroe, Walter Jones, C. MeLean, Joseph Gales, Jr., William A. Bradley, John Davis, for Washington; and Samuel H. Smith and Joseph Pearson, for the county. This committee reported to a meeting held July 17, 1827. In their report they said that it was greatly to the interest of this city that the canal be completed as soon as practicable. It would save to the city in fuel alone, by the substitution of coal for wood, more than $100,000 per year, small as the city was at that time; and there would be a diminution in the prices of grain, flour, lumber, butter, whisky, meat, marble, iron, and the various other commodities that were brought in from a distance, which would be paid for with the fish and manufactures of the city, etc. The corporation of the city of Washington was therefore advised to subscribe to the stock of the company $1,000,000, on the condition that Congress was to be applied to to grant authority to do whatever was necessary to enable the city legally to assist the canal, etc. This was the first decisive step taken by the city, although the inhabitants had all along approved of the project and wished it to go forward; but they had done nothing but to invoke the aid of Congress, and of the States of Maryland
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and Virginia. As some at the time expressed it, "they had been upon their knees invoking .Hercules, but Hercules would not alone put his shoulder to the wheel; the citizens must themselves put their shoulder to the wheel, and then it might be, if they needed assistance, that Hercules would condescend."
Subscription books were opened at the Branch Bank October 1, 1827. The amount of each share was $100 in current money, and $1 must be paid on each share subscribed for at the time of subscribing, the rest to be paid upon the call of the president and directors of the company, but not more than one-third was payable each year. On the first day the books were opened there was subscribed in Washing- ton, including the city itself, $1,066,300, and in Georgetown, including the subscriptions of that city, $425,000; total in the two places, $1,491,300. The work was to begin when $1,500,000 was subscribed; so the first day's subscriptions rendered its beginning a certainty.
But, notwithstanding this auspicious beginning, by November 6 those interested in the project living in the District of Columbia became considerably alarmed at the prospect, because of the proposed construc- tion of the Baltimore and Ohio Railroad from Baltimore to the Ohio River. This railroad project deprived the canal company of much of the money it had expected from many of the citizens of Baltimore, and from the towns and country through which the railroad was to be constructed. It therefore devolved upon the District of Columbia to take that step which would immediately be decisive of the fate of the canal, which would not only embark in it a liberal contribution, but which would be a most efficient means in securing the powerful and decisive aid of Congress. A strong and earnest appeal was there- fore made to every man 'to do all in his power in furthering the canal. Committees were appointed for each of the wards of the city to procure further subscriptions as follows:
First . Ward, and Charles Vinson; Second Ward, James MeLeary and James Larned; Third Ward, Andrew Way and Andrew Coyle; Fourth Ward, J. P. Ingle and James Young; Fifth Ward, Griffith Coombe and E. S. Lewis; Sixth Ward, Adam Lindsay and William Easley.
The Congress of the United States, in response to the petitions of the citizens, passed the Chesapeake and Ohio Canal bill in May, 1828, by a large majority in both Houses, and the papers then burst forth with congratulations somewhat as follows:
" We may congratulate ourselves on the passage of a bill which con- templates, and which will, no doubt, secure, the execution of a work
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so beneficial to this District, to the States through which it will pass, and to the country at large. Georgetown and Alexandria, in whose streets the grass now grows green, will become once more the scenes of commerce and wealth. Washington, which is now poverty-stricken and humbly dependent on the regular or casual expenditures of indi- viduals attached to the Government, will be able to hold up her head among the cities of the country, and to participate with them in some of the benefits resulting from population, capital, and productive industry. The intentions and anticipations of the Father of his country, as to the city which bears his name, may now be fulfilled and realized. The city of Washington may be made worthy of its founder, and worthy of remaining forever the metropolis of the Union," etc. "The author of this great enterprise is Charles Fenton Mercer, of Virginia. IIe will be called the 'Clinton of the South,' a title more honoring than the proudest which heraldry can boast."
In honor of the success of the preliminary steps taken in this enterprise, the citizens of Georgetown gave a public dinner to IIon. C. F. Mercer, on the 26th of June, 1828.
A meeting of the stockholders of the canal company was held June 20, 1828, at the City Hall, to receive the report of the board of commissioners on the part of the United States, and the States of Maryland and Virginia, and to organize the company by the election of a president and six directors. On motion of General John C. HIunter, Hon. Richard Rush, Secretary of the Treasury, was invited to preside; but on account of the possibility of his having to attend to official business before the meeting should close, he proposed the Mayor of Washington, Joseph Gales, Jr., for chairman, and Mr. Gales was selected accordingly. Clement Smith acted as secretary. The report of the commissioners was read by Samuel II. Smith, and in this report it was shown that the subscriptions to the stock of the company then amounted to $3,090,100 in money, and $100,149.77 in the stock of the old Potomac Company. The salaries of the officers of the com- pany about to be organized were then settled, and the company organized as stated in former pages. Notice was then given that subscriptions, which should be first offered in whole shares up to $6,000,000, would be received at the Bank of the United States in Washington, and that these subscriptions should take precedence over others later received.
June 28, 1828, it was resolved that the municipal authorities of the three cities within the District, the president and directors of the canal company, and guests specially invited, should proceed by
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water on July 4, to the point where the ground was to be broken on that day, for the beginning of the canal. This spot was just within the limits of the District, near the powder magazine and above the Little Falls bridge. The ceremonies of the day were intended to be, and were, very imposing in their nature. At an early hour, the invited guests assembled at Tilley's Hotel, the President of the United States arriving at 7:30 A. M. There were also present the Sec- retaries of the War, Navy, and Treasury departments of the Govern- ment; the Postmaster-General, Senators, and Representatives, and many of the ministers of foreign countries. At eight o'clock, the procession formed and moved to High Street wharf, whence the steamer Surprise, two other steamers, and a line of barges moved up the Potomac to a spot just above the lower termination of the canal. On leaving the "River of Swans," the procession marched a few hundred yards to the canal boats prepared to receive them, at the upper bridge across the canal, from the banks of which "there shot up along its entire course a large variety of the most beautiful native trees, whose branches, interwoven above, would have excluded the rays of the most piercing sun. . . . Noiseless, but in crowds, the people moved forward on the bank of the canal, keeping even pace with the long line of boats, whilst airs, now animated, now plaintive, from the Marine Band, placed in the forward boat, lightened the toil of the work."
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