and flat-boats, with a total tonnage of two and a half million tons, netting a toll of $1,227,625.20.[1] On the stock owned by the United States a cash dividend (to 1843) of $258,378 was earned—$23,378 more than the Government's original investment. Other stockholders fared equally well from this systematic highway robbery. Such a drain on the public purse as was the Louisville–Portland Canal in the "good old days" would not be countenanced a moment today. The canal was rebuilt and enlarged in 1872, and in 1874 it passed into the control of the United States by the authority of Congress.
Following is a synopsis of the expenditures on account of the canal previous to June 11, 1874, the date when the United States assumed complete control and management:
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- ↑ Id., p. 38.