An account of the measures taken to give
effect to this act will be laid before you by the Secretary of the
Treasury. As the object which it had in view has been but partially
accomplished, it will be for the consideration of Congress whether the
power with which it clothed the Executive should not be renewed at an
early day of the present session, and under what modifications.
The act of Congress of the 3d of March last, directing the Secretary of
the Treasury to subscribe, in the name and for the use of the United
States, for 1,500 shares of the capital stock of the Chesapeake and
Delaware Canal Company, has been executed by the actual subscription for
the amount specified; and such other measures have been adopted by that
officer, under the act, as the fulfillment of its intentions requires.
The latest accounts received of this important undertaking authorize the
belief that it is in successful progress.
The payments into the Treasury from the proceeds of the sales of the
public lands during the present year were estimated at $1,000,000.
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