266

A TREATISE ON ROADS.

Materials for surface repairs

215,835

Interest of debt - 301,508

Improvements

211,808

Debt paid off 132,983

7 , 116,702

Bonded mortgage debt

Number of trusts, 1,111.”

It would appear from this statement, that themanagement of the finances of the trusts was im-proving. Against the sum borrowed in 1835, of165,474/., is be set the sum expended in improve-ments, of 211,808/., and the sum paid in reducingdebt, of 132,983/., leaving a surplus of 179,317/.>arising from care and economy. The great changefor the better, within a few years, that has takenplace in the manner in which trustees attend totheir duties, has introduced an improved system ofmanagement, which will, no doubt, lead to thegradual reduction of the debt. In those caseswhere neither principal nor interest can be paid,there does not appear to be any just claim on thepublic at large, upon the part of the suffering cre-ditors. Many of them have received compensationfor their money by the improvement of their estates,and the others stand in the same position as allcreditors do who lend money on speculation.

But although it is unquestionably true, that it isto the turnpike system that the abundance of use-ful roads is owing, it must at the same time beobserved, that great errors have been committedin carrying the system into operation. For how-ever numerous and however useful the roads may