188 .4. L. Bisliop — The State Worhs of Pennsylvania. 



companies furnishes conclusive evidence on this point. Moreover, 

 as we have already seen, the state from time to time had made lib- 

 eral subscrijitions to the stocks of these concerns. Having pursued 

 a policy of assistance in the past, it was no radical change, at this 

 time, for the energies of the government to be applied directly to 

 matters of internal improvement. 



But there seem to have been definite reasons why the Avork was 

 constructed by the state itself. In the first place, the era of large 

 corporations had not been reached by 1826, and there was not the 

 large quantity of floating capital, such as exists nowadays, ready 

 to be applied to the purchase of stocks. Moreover individual capital 

 and energy were not considered commensurate with such an exten- 

 sive enterprise as that proposed.* Again, even though sufficient 

 private capital could have been commanded to build the canal, the 

 advantages to be derived from it after its construction were regarded 

 as too numerous and important to be surrendered to a corporation. 

 It was believed that both the maximum of impartiality and the 

 minimum of cost of operation would be insured by state control; 

 and, since the canal was essentially a state object, these needed to 

 be guaranteed to every one of its citizens. Moreover, the work was 

 looked upon as a source of large income in the future. This point 

 seems to have been hardly doubted by the majority. Hence the 

 opportunity to fill the public treasury by such a legitimate source 

 of income as canal tolls should be seized and not be forfeited to a 

 few individuals. In view of the general acceptance of these ideas, 

 throughout the whole popular movement the question as to who 

 should build the contemplated improvement was discussed but 

 incidentally, it being taken for granted that if the work were built 

 at all, it should be executed and operated l>y the state. 



* "Tlio ])iil)lie are now firmly eonviiieod tliat. in the United States, where 

 the fortunes of private individuals are limited in amount, great public works 

 can only be accomplished by the expenditure of the public treasury." — Facts 

 and arguments in favor of adopling Railways in preference to Canals in the 

 State of Pennsylvania, p. 10. 



