In consequence of the difference and conflict of political sentiments which pervade the United States, respecting the administration of the government, and the appropriation of their resources, it is probable that it will be left to the future politician to duly appreciate and justly admire the ingenuity and patriotism of Mr. Jefferson, which devised and promulgated the idea of appropriating the surplus revenue of the United States, after the payment of the national debt, to the improvement of canals, roads, &c. which he threw out in his second inaugural speech.

It appears by the president's last message, that there is a greater surplus of revenue than was anticipated at the time the terms for the discharge of the national debt were stipulated; so as to leave a sum of money in the treasury without any appropriation; for the use of which he has suggested its application to the improvement of some great national object, the undertaking of which is to be immediately commenced.

I will presume to assert, that the president himself will agree that, if not even before, at least, next to the utility of a National Institute, is the improvement of the navigation of our fresh waters.

This admitted, the next inquiry is-where and what waters can be improved, to afford the most extensive and immediate benefit to the agricultural and commercial interests of the United States?

With due deference to the president of the United States, and the committees appointed by the national legislature, who now have the subject under consideration, I will presume to suggest to them, that improvement which would afford the most immediate, and consequently the most extensive advantages which any other in the United States can possibly do. It is the connecting the waters of Lake Erie and those of the Mohawk and Hudson rivers by means of a canal.

As this project is probably not more than twelve months old in human conception, but imperfect data can be furnished on the subject at present-such as I am possessed of, I will add.

It ought to commence at the foot of Lake Erie, as soon as a suitable place can be found to afford a draft on its waters-to gain and preserve a moderate descent of ground it will have to pursue a north-eastern course for some miles, it then may pursue an east course and cross the Genesee River, somewhere above its Falls, thence near to, and probably in the channel of, Mud Creek, an outlet of Canandaigua Lake, and follow them into Seneca River; but leaving that, up stream to Jack's Rifts, for the purpose of preserving the head of water -thence meandering along between the high and low grounds of Onondaga and Oneida counties, going south of their lakes, and let it fall into the Mohawk and mingle with its waters somewhere above Utica.

The distance from Buffalo village, at the foot of Lake Erie, to Canandaigua, is ninety miles according to the present road-from thence, on the Seneca turnpike to Utica, is one hundred and twelve miles-making two hundred and two miles from Lake Erie to Utica. It is possible that the angles of the roads are equal to the necessary meanderings of the canal through so extensive and level a country. By Ellicot's map of the Holland company's tract, the level of the waters of Lake Erie are four hundred and fifty feet above that of Ontario. The level of the Mohawk above that of Ontario is not correctly known, but we can approximate the fact from the following comparative statement. From the canal at Rome or Fort Stanwix, down Wood Creek to Oneida Lake, is twenty miles through a tract of very level land, say ten feet fall. Oneida Lake thirty miles in length, say three feet fall-from thence to Three River Point, eighteen miles, say twelve feet fall-thence to Oswego Falls, twelve miles, say ten feet fall. The Falls a quarter of a mile, say fifteen feet fall-thence to Lake Ontario twenty-four miles, say fifteen feet fall, makes the elevation of Rome sixty-five feet above the waters of Ontario. From Rome to Utica sixteen miles by land, and twenty-eight by water with good current, say twenty-five feet fall, which deduct from sixty-five leaves forty feet, the elevation of the Mohawk at Utica above the Ontario.

As the whole of this calculation is conjectured without ever seeing any part of the ground except the villages of Utica and Rome, it cannot be pretended that it is correct; yet it is presumed to be sufficiently large. Deduct the difference between Utica and Ontario (forty feet) from the difference between Erie and Ontario, (four hundred and fifty feet) and it leaves four hundred and ten feet fall, between the waters of Erie and the Mohawk at Utica, which will average two feet a mile on the whole distance.

The result of this crude calculation is sufficient, and merely intended to demonstrate the possibility, and even practicability, of the undertaking. When we consider the Herculean task performed on sundry canals in Europe, the crossing Genesee River and other streams which intersect the course of the route, cannot be admitted as insuperable obstacles to the undertaking.

Pretending to no knowledge in the science of canalling, consequently no calculation on the probable expenses will be hazarded-but the level country through which it would take its course, is such, that more than half the distance would require no further digging than to sink the ditch sufficient for the depth of water and its necessary banks; and it is obvious that it would require but few stone. The western part of the Genesee county and Onondaga county afford a sufficient supply. Other tracts no doubt would furnish at least partial supplies by occasional beds and quarries. The principal use of stone contemplated here is to wall the banks of the ditch. Where stone was scarce, timber could be substituted in the first essay, and stone could be boated to supply its place when decayed.

The magnitude of this improvement is far beyond the reach of individual capital in America, for the present age, and probably for a century to come. The present governor of the state of New-York has indeed suggested the idea of calling into its aid British capitalists; but as their object, by vesting their capital in foreign stock, would be the double consideration of having that stock permanent, and to receive from it a rate of interest above that which they can obtain for their capital in their own market; consequently both the immense agricultural and commercial interests of America, flowing through this channel, must for ever, by an inexhaustible load of taxes, be tributary to foreign capitalists.

America already suffers by foreign capitalists drawing from her resources large sums, in premiums, from her stocks and new lands ; from which she can have no possible reciprocity of interest, except merely in the contemplation of redressing at some future day, the wrongs of foreign nations, in spoliations on her commerce, by a sequestration of this foreign capital. And unless the government holds the idea of sequestration in reserve, as the dernier resort for the redress of foreign aggressions, there can scarcely be a palliative argument offered by them for their toleration to foreigners, of foreign residence, by their superior wealth drawing a private revenue from our best resources. We, therefore, can alone, with confidence, turn our attention and our best tropes to a patriotic government, whose treasury must in a few years, be amply competent to the undertaking; which, when finished, may be given to us for an insignificant tax.

When completed, this would afford a course of navigation from New-York, by sloop navigation to Albany, 160 miles-from, Albany to Buffalo, by boat navigation, 300 miles-from Buffalo to Chicago by sloop navigation, 1200 miles; making a distance of 1660 miles of inland navigation up stream, where the cargo has to be shifted but three times.

The probable charges of freight would be-from. New-York to Albany (the present price on small packages of merchandise up freight is about) five dollars per ton, from thence to Buffalo (full large enough, including no charge for lockage) fifty dollars per ton, from thence to Chicago, say large fifty dollars per ton-is equal to 105 dollars per ton, or five cents per pound nearly. From Chicago harbour it might be continued up its river, by portage, into and down the Illinois, and up the Mississippi ; and into, as yet, almost unknown regions.

The navigation of the four largest lakes in the known world, together with all their tributary streams-the agricultural products and the commerce of all the surrounding country, would pass through this canal-and even the fifth (Ontario) would become its tributary. The additional duty on the Canadian trade alone would defray the annual repairs of the canal.

The vast extension of and facility to commerce, together with the additional spur to industry which this canal would give, would in twenty years redeem the principal and interest of their expenditure, at the rate of their present imposts, by its additional increase. Its invitation to the culture of the fertile soil surrounding these extensive navigable waters, would be such, that in a few generations the exhibition of their improvements and the display of their wealth, would even scarcely be equalled by the old world.

HERCULES.