The Illinois and Michigan Canal: A Study in Economic History

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University of Chicago Press, 1917 - 213 páginas
 

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Página 74 - Canal shall never be sold or leased until the specific proposition for the sale or lease thereof shall first have been submitted to a vote of the people of the State at a general election, and have been approved by a majority of all the votes polled at such election. The general assembly shall never loan the credit of the State, or make appropriations from the treasury thereof, in aid of railroads or canals : Provided, that any surplus earnings of any canal may be appropriated for its enlargement...
Página 94 - ... the canal region. Shrewd business men perceived that Chicago would necessarily become the transfer point for all passengers and commerce passing between the Great Lakes and the canal and that it was destined to be the emporium of western...
Página 40 - The climate, soil, and capability of productions of the country which will be benefited by the construction of this work, will certainly equal, if they do not exceed, any other part of the United States; and when I view it in this light, I think it justly merits to be executed upon the best and most permanent plan, and will justify by its revenue any outlay which may be put upon it in reason.
Página 9 - ... between the Mississippi and the Michigan Lake; at another season, a portage of two miles; at another, a portage of seven miles, from the bend of the Plein to the arm of the Lake...
Página 45 - Report of the Board of Commissioners of the Illinois and Michigan Canal to the Legislature of Illinois.
Página 115 - ... shippers to use the boats for storage purposes when navigation was closed, the canal traffic continued to increase till 1882, in which year the tonnage carried was 1,011,287 tons. From that year till 1899 the amount of freight carried annually declined at a variable rate.
Página 134 - Boats have made but two round trips from Chicago to St. Louis during the season; the low water has interfered very seriously with the lumber business and the grain trade from the River.
Página 74 - Bonds," shall take effect or be in force until such law shall have been submitted to a vote of the people of the State, and adopted by a majority of the electors of the State voting upon the same.
Página 174 - Through freight" is that which is cleared from Copperas Creek or Henry to Chicago ; or from Chicago to Henry or Copperas Creek. "Local freight
Página 37 - ... the borrower makes his several payments to the local association which forwards the money thus paid to the land bank. The local association is but an agent acting for the land bank to secure accurate and intimate knowledge of the land values and personal character. Each borrower insures his own loan to the extent of five per cent, of the amount of the loan. We have every element of safety; local knowledge, mutual liability, and self interest. The land bank, as the mortgages accumulate, deposits...

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