"The company's Act of Incorporation is in every respect complete and comprehensive in its details. It empowers the company to survey, to take, appropriate, have and hold, to and for the use of them and their successors, the line and boundaries of a canal between the St. Lawrence and Lake Champlain, to build and erect the same, to select such sites as may be necessary for basins and docks, as may be considered expedient by the directors, and to purchase and dispose of same, with any water-power, as may be deemed best by the directors for the use and profit of the company. "It also empowers the company to cause their canal to enter into the Chambly Canal, and to widen, deepen, and enlarge the same, not less in size than the present St. Lawrence canals; also the company may take, hold, and use any portion of the Chambly Canal, and the works therewith connected, and all the tolls, receipts, and revenues thereof, upon terms to be settled and agreed upon between the company and the governor in council. "The cost of the canal, with locks of three hundred feet by forty-five, and with ten feet six inches the mitre-sill, is now estimated at two million five hundred thousand dollars, and the time for its construction may not exceed two years after breaking ground. "Probably no question is of more vital importance to Canada and the western and eastern United States than the subject of transportation. The increasing commerce of the Great West, the rapidity with which the population has of late flowed into that vast tract of country to the west and northwest of lakes Erie, Michigan, Huron, and Superior, have served to convince all well-informed commercial men that the means of transit between that country and the seaboard are far too limited even for the present necessities of trade; hence it becomes a question of universal interest how the products of the field, the mine, and the forest can be most cheaply forwarded to the consumer. Near the geographical centre of North America is a vast plateau two thousand feet above the level of the sea, drained by the Mississippi to the south, by the St. Lawrence to the east, and by the Saskatchewan and McKenzie to the north. This vast territory would have been valueless but for the water lines which afford cheap transport between it and the great markets of the world.