"LINDENWALD, _Jany. 5, '51_.
"MY DEAR SIR,--Please let me hear from you at your earliest convenience
on the subject of my money as it lies unimproved; also your opinion of
the best investments now to be made. What would you think of putting
five thousand dollars in Erie income bonds if you do not take it?
Explain to me the character of the stock and the principles upon which
it has been issued. Don't forget Lawrence. Excuse me for troubling you,
and believe me,
"Very truly,
"Yours,
"M. VAN BUREN."
The measure for the enlargement of the Erie Canal at an expense of nine
millions of dollars, projected by jobbers in what are still known as
the canal counties, and which is referred to in the following note of
Mr. Burwell, was so effectually resisted by Mr. Tilden, both by speech
and pen, that it was put to sleep for more than forty years, when it
reappeared and was passed. It resulted even more disastrously than
Mr. Tilden had predicted, and to this day no one knows what became of
the $9,000,000 that were spent, though no one will pretend that a new
canal-boat was built or another ton of freight was ever carried through
the canal in consequence of that expenditure.