HISTORY OF

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sterling; besides the advantage of this internal navigation from east towest, without which vessels would be obliged to go round the islandtwo thousand miles or snore. In time of war, likewise, this communica-tion will be a prodigious advantage to the whole trading interest. Uponthe whole, the many advantages arising from this navigation from seato sea are so many, and so various, and of such prodigious value to thekingdom in general, as well as these counties in particular, that it is dif-ficult, if at all possible, to form a just idea of them.

Having taken a short view of some of the advantages which arelikely to arise from this undertaking, it is necessary to consider the ob-jections : and in doing this, the two following first present themselves;but I hope to answer them satisfactorily.

1. That such a canal will injure, if not take away the properties ofthose persons through whose lands it is intended to be cut.

2. That the profits of the navigation will not equal the interest of themoney that must be expended to complete it.

As to the first of these objections: It is intended that the proprietorsshall be, by act of parliament, particularly restrained as to houses, gar-dens, yards, parks, paddocks, planted walks, or avenues, or lawns in-closed, and adjoining to any house; and as to all other lands, a full andample consideration must be paid for them before the proprietors can cutinto them.

As to the second objection, the calculation given above, made by themost skilful and experienced men that could be employed, will be asufficient answer.

And in order to make tire expence, and raising the money, as easy aspossible, it is agreed to petition the legislature to have the powers vestedin a company, and to divide the capital into two thousand six hundredshares, of one hundred pounds each, to bear an interest of five poundsper cent. regularly paid on a stated day in every year till the work iscompleted, when the full profits shall be equally divided annually, inproportion to the shares each person is possessed of; and that each sub-scriber shall have a vote upon all occasions, by himself or proxy, for

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