for the formation of a Joint Stock Company: the capital consists of a million, so that his Majesty is proprietor of half of the concern:—we need not question that it will enjoy the royal encouragement or that of his ministers. It is to be hoped, however, that the Dutch will not exact the exclusive privilege of the passage; but that it will become open to all nations; although they might reasonably expect to derive some specific advantages on account of transit dues, for having carried the plan into execution.
For the satisfaction of those who may yet feel an interest in this undertaking, although the object can, now, no longer be of any, very particular, consequence to ourselves, I subjoin a few observations, which, after the most diligent inquiries of parties best calculated to give me good information on the subject, I was able to collect. Without adverting to even some general remarks on the feasibility of establishing a water-communication between the Atlantic and
