present his views in reference to a total suspension of operations and the postponement of the completion of the canal, the chief engineer estimated that the accumulation of interest and other losses would amount to not less than a million dollars. Petitions from the contractors, merchants, and others, residing in the neighborhood of the operations, were received by the company, begging the continuation of the work and an issue of scrip, or promissory notes, which would be a convenience to each community. Accordingly the company decided to allow the work to proceed and to gratify the petitioners by issuing scrip. In 1839, and previous to that time, the issues had generally been secured by a pledge of state bonds or stocks. The present issue, on the other hand, which, during the year 1840, and from January to April 1841, amounted in the aggregate to $555,400, had no pledge to sustain it. It was the company's last issue of scrip.
At the December meeting of the Maryland legislature, 1840, an appropriation for aid was again asked for. The expenditures upon labor performed during the year had
