The bill for the further prosecution of the Illinois and Michigan canal was then taken up. The amendment introduced by Mr. Maus. “That the contractors be at liberty to abandon their contracts on giving notice to the commissioners in writing, and shall then be entitled to their retained per centage,” was laid on the table.

Mr. MOORE said, that when this bill was up before, he had opposed its being engrossed, not because he is opposed to the canal; he is friendly to that work and wishes to foster it by every correct means within the power of the State; but, because he was apprehensive that the scrip would fall while in the hands of the farmers and laboring class, and expose them to great loss. He was satisfied that the State would not lose, nor the contractors, but he feared that the people into whose hands it fell would lose. Last summer there was an issue of certificates by the canal commissioners, and they fell as low as 80 or 85 per cent. He would like to know the amount which will probably be needed under this bill.

Mr. NAPER believed he could satisfy the gentleman in regard to the difficulties he entertained. The products of that section of the country this year, are abundant. Corn, pork, oats, and wheat are so abundant that not only is there enough for the supply on the line of the canal, but a great surplus remains for exportation. This makes it very desirable and convenient to go on with the work. The scrip which was issued last year was on the authority of the commissioners only; the State was not responsible, and yet nothing was lost. Those certificates did not fall much more than Illinois bank paper. He is sanguine in believing that such issues would answer to carry on the work; and it would be remembered, that to stop the canal is not like stopping operations on a railroad. The work already done is liable to much greater loss on the canal than on roads. Embankments will be washed away, and sections of canal already excavated will be filled up, and in this way great loss must ensue to the State.

Mr. LINCOLN said he had not examined to see what amount of scrip would probably be needed. The principal point in his mind was this, that no body was obliged to take these certificates. It is altogether voluntary on their part, and if they apprehend it will fall on their hands, they will not take it.

Further—the loss, if any there be, will fall on the citizens of that section of the country. This scrip is not going to circulate over an extensive range of country, but will be confined chiefly to the vicinity of the canal. Now we find the representatives of that section of the country are all in favor of the bill. When we propose to protect their interests, they say to us, leane us to take care of ourselves—we are willing to run this risk. And this is reasonable; we must suppose they are competent to protect their own interests, and it is only fair to let them do it.

Mr. MOORE moved to amend by adding, “provided that not more than one million dollars be issued within the present year.”

Mr. MAUS moved to amend the above amendment so that it shall read thus, “provided that the commissioners may issue scrip to a sufficient amount to carry on the work till the end of the next session of the Legislature, and no more,” which was agreed to, and the amendment was then adopted. Adjourned.