7107. PUBLIC WORKS, Government and.—
The New Orleans Canal Company ask
specifically that we should loan them $50,000,
or take the remaining fourth of their shares
now on hand. This last measure is too much
out of our policy of not embarking the public
in enterprises better managed by individuals,
and which might occupy as much of our
time as those political duties for which the
public functionaries are particularly instituted.
Some money could be lent them, but
only on an assurance that it would be employed
so as to secure the public objects.—
To Governor Claiborne. Washington ed. v, 319.
(W.
July. 1808)
