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 complete the canal, on the basis of the January 1839 estimate, was, at that time, $2,935,103.

At the following session of the general assembly, December 1839, the company made a formal application to the state for further assistance. The accompanying communication, dated February 10, 1840, affirmed the correctness of the engineer's estimate of January, 1839, and stated that the fifty miles of canal between Dam No. 6 and Cumberland would cost $4,440,350. Of this, $2,030,128 was expended on the first of January 1840, leaving $2,410,222, necessary to complete the work. The resources of the company, on the same day, estimating 318,175 Maryland five per cent sterling bonds at par, were stated to be $1,489,571; the liabilities of the company $1,244,555, leaving, January 1, after paying all debts, a balance of $245,016. Upon this exhibit, presented to the legislature, the additional appropriation was asked for.

At this time the public appeared fully cognizant of the great importance of pressing forward an early completion of the canal. The members of the legislature