Historical Sketch of the Middlesex Canal

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Excerpt from Historical Sketch of the Middlesex Canal: With Remarks for the Consideration of the ProprietorsThe inhabitants of the city of New York have expended the enormous sum of twelve millions of dollars, or thereabouts, in order to obtain a full supply of water. They have borrowed the money, and are now paying an annual interest thereon, and by direct taxation upon their property. This, at first view, would seem calculated to alarm the owners of both real and personal estate, but, when duly and properly considered, it, in reality, takes little or nothing from their pockets. Immediately upon the introduction of a full supply, by the Croton aqueduct, the fire insurance offices voluntarily reduced the premiums of insurance twenty-five per cent., which, estimated upon all the assurable property both real and personal, would amount to a sum greatly exceeding the interest on the cost of the aqueduct, thus giving, as it were, free of cost, to every inhabitant, the use of thabelement so indispensable to cleanliness and health. What difference can it possibly make to the citizen whether he pays his money for water or for extra insurance gainst fire? There can be no doubt, had New York been as ell supplied with water when the great fire took place, but few years since, as it now is, that the amount of property which might and would have been saved thereby, would equal, if not greatly exceed, the whole cost of the Croton aqueduct. This magnificent work gives such a charac ter to the city, that merchants, at a distance, feel a greater confi dence in consigning their property to it for sale. The saving of insurance to them is certainly no inconsiderable amount.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.