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Potomac Company

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could attract sufficient private funding. Its apparent failure, on the other hand, can be understood as a project which gave way to a superior technology, as railways came along and grew up before the slow subscription system of stocks common to the day attracted sufficient funding. In the day, men of means and many such officials of the early Federalist U.S. government were very conscious of the desirable effects of building transportation infrastructure to link the near west and tie it to the eastern seaboard. As settlers poured west over the mountains after the Revolutionary War, serious concerns arose that newly settled lands would become financially tied better to and so make arrangements with Spanish, French, or British colonies to the west, south, and Canada, and given a look at water communication, the risk was very real. Hence, from the start, the fledgling Constitutional Republic was conscience of benefits that could accrue from its involvement in developing infrastructure in the fledgling republic but was unable to generate revenues to boost such efforts. The rare exception in the era receiving federal public works monies was over a decade later and deemed far less risky, the
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importance" of the project. Washington's formidable reputation in the U.S. during the time after the Revolution persuaded the governor to present a letter to the Virginia Assembly asking for support for the project. The Virginia Assembly appointed Washington, Gates, and Thomas Blackburn commissioners to seek Maryland's agreement. Washington's subsequent visit to Annapolis was successful and led to the incorporation of the Potomac Company in 1784 Maryland and 1785 in Virginia. These meetings would continue and have a major impact on national development as the navigations on the Potomac were in regular use supporting coal from Cumberland to Georgetown until 1929; in 1908 the
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failed, the Maryland and Virginia acts of incorporation were very similar—the company stated it was going to raise 220,000 Spanish dollars (50, 000 pounds sterling) through 500 shares and also stated its plan and timeline. In the charter, the Potomac Company had three years to clear the upper Potomac, and ten years to build bypass canals and locks around the Little and Great Falls (a distance of 175 miles). Both states passed additional laws to go further—building roads and connecting headwaters to link the Potomac River to the Ohio River.
2495: 362:. The project to improve the Potomac was seen as a major opportunity strategically (it would transport troops to the frontier with the French or the Indians more rapidly) and economically (it would increase fur trade and improve real estate values). A lack of technology, a severe shortage of labor, conflicts with foreign and colonial powers, and internal rivalries would prevent the project from being started until the 1780s, thirty years later. 417:
by Maryland, Virginia, and some individuals could not offset growing expenses due to poor technical advice, labor problems, poor planning, and incessant repair work. The work was stop and go because of the continuous need to raise more money. At many points in the project's history (for example in) all work would stop as the company begged for economic assistance, settled lawsuits, and revised its plan.
413:), who purchased 500 acres (200 ha) of land around Great Falls (he named it "Matildaville" after his wife) to build a warehouse for goods being transported down the Potomac (predicting the route would quickly become profitable after the project's completion). The legal troubles of the Potomac Company kept its lawyers in and out of court constantly. 484:
support interstate infrastructure projects after that. The significance of transportation in such a large country cannot be understated, and the failure of such a large project made clear that expensive (but in the long term, profitable) infrastructure projects would not be achieved without support from the federal government.
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A commission in 1821 agreed that water transport in the Potomac valley would only be possible with a still-water canal, and the Potomac Company announced it could not fulfill its charter. Virginia created the Potomac Canal Company. Maryland incorporated the Chesapeake and Ohio Canal Company in 1825,
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The decline in public confidence in the project led to a more difficult economic position because the Potomac Company relied on individually buying shares for funds. Maryland and Virginia continued funding the Potomac Company's project beyond the original contract. However even continued investment
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While it was not the first or only project started after the end of the American Revolution, its incorporation was a milestone because it was the first project that connected different regions and required the cooperation of multiple state governments. While the Potomac Company's charter eventually
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The earliest movement toward developing the inland waterways of the country began when, under the influence of George Washington, Virginia and Maryland appointed commissioners primarily to consider the navigation and improvement of the Potomac; they met in 1785 in Alexandria and adjourned to Mount
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As energetic men all along the Atlantic Plain now took up the problem of improving the inland rivers, they faced a storm of criticism and ridicule that would have daunted any but such as Washington and Johnson of Virginia or White and Hazard of Pennsylvania or Morris and Watson of New York. Every
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The failure of the Potomac Company to make the Potomac River navigable does not mean that that project was without serious economic implications. The failure of the Potomac Company was largely attributed to a lack of federal support and oversight, and the U.S. government was much more careful to
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In February 1802, the locks at Great Falls were completed, and the Potomac Company was expected to be immediately profitable. Also in 1802, the Patowmack Canal was completed after 17 years of construction. However, the poor snow in the winter of 1801-1802 and little spring rain in 1802 meant the
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in 1828, its curtailment has overall minor significance only as in that it serves as an example of how a deficient amount of support from the responsible leadership balancing the federal government can seem to undermine a large, desirable infrastructure project that is a conceptual overreach, or
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imaginable objection to such projects was advanced—from the inefficiency of the science of engineering to the probable destruction of all the fish in the streams. In spite of these discouragements, however, various men set themselves to form in rapid succession the Potomac Company in 1785, the
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When completed, bulk goods could ship by wagon out of the Pennsylvania and Virginia Alleghenies plateau country downhill to the river port where the canal allowed boats and rafts to float downstream towards Georgetown, a significant port of the time on the Potomac River, now an upscale bedroom
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In 1784, a year after the Treaty of Paris was signed, George Washington and Horatio Gates traveled to Annapolis to seek the state's assent to the project. Washington urged Virginia Governor Benjamin Harrison to bring the matter to the Virginia Assembly, citing the "commercial and political
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river was too shallow to navigate that year. The late realization of these unanticipated problems caused the company to give up its earlier goal to link the Potomac and the Ohio Valley, and the new goal was to improve other rivers in the watershed such as the
220:. It had an early and more immediate goal of improving the navigability of the Potomac River, by building canals and navigations around a succession of blocking rapids or falls of the lower and middle Potomac River. In this latter goal, it succeeded. 132:. The Potomac Company's achievement was not just to be an early example, but of being significant also in size and scope of the project, which involved taming a mountain stream fed river with icing conditions and unpredictable freshets (floods). 113:
and improve its navigability for commerce. The project is perhaps the first conceptual seed planted in the minds of the new American capitalists in what became a flurry of transportation infrastructure projects, most privately funded, that drove
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from his days as frontier surveyor and militia officer and saw these regions ultimately fail due to insufficient capitalization, an unstable American economy, a lack of sufficient investors, a lack of government aid from a poor and young
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Further, the Potomac Company's plan made it possible for the Chesapeake and Ohio Canal Company to take over and complete the project. These two regions were linked, and goods and services moved through the Potomac for nearly a century.
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As early as 1749 many leaders in Maryland and Virginia had been interested in making the Potomac River into a major transportation route to the trans-Appalachian West. Advocates included Philadelphia resident
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Vernon, where they planned for extension, pursuant to which they reassembled with representatives of other States in Annapolis in 1786; again finding the task a growing one, a further conference was arranged
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The Potomac Company originally wanted to hire only free labor, but due to the shortage of labor, the directors hired free, indentured, and slave labor to build the locks and canals and deepen the river.
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In a few decades, the eastern seaboard was crisscrossed by private turnpikes and canals were being built from Massachusetts to Illinois ushering in the brief seven decades of the
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Littlefield, Douglas R. (1984) "The Potomac Company: A Misadventure in Financing an Early American Internal Improvement Project." Business History Review 58.4: 562-585.
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The Potomac Company built five skirting canals around the major falls of the Potomac opening the river to commercial bulk goods traffic from the
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The Potomac Company, an investment bank based in Philadelphia, is not related in any way to the original Potomac Company referenced above.
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Douglas R. Littlefield (1984). "The Potomac Company: A Misadventure in Financing an Early American Internal Improvement Project".
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as director. This last president served for eleven years before the corporation's assets were merged into the more successful
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The larger endeavor, connecting coastal communities with the blossoming trans-Allegheny settlements, was championed by
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George Washington, Benjamin Franklin, and other founding fathers believed they were the key to the New World's future.
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A New Chapter in the Early Life of Washington: In Connection with the Narrative History of the Potomac Company
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After 21 years, the Potomack Canal was sold, along with the other assets of the Potomac Company to the
402:, well known for his work with steam-propelled riverboats, was hired as the project's chief engineer. 2555: 2367: 2116: 1845: 1611: 1135: 981: 971: 472: 335: 785:. The Chronicle of America Series. New Haven, Toronto, London: Yale University Press and two others. 379:
in 1787, with delegates from all the States. There the deliberations resulted in the framing of the
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In his will, Washington left fifty shares toward the endowment of a university in the
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could be poled up-river in even the shallowest of waters, they could not traverse the
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Washington and the West: Being George Washington's Diary of September, 1784
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A Connected View of the Whole Internal Navigation of the United States
553: 467:, and son of President Washington's mentor and fellow Founding Father 176:, who was its first president, as well as an investor in the company. 840:", 14 photos, 1 measured drawing, 1 photo caption page 779:. In Johnson, Allen; Jeffreys, Charles W.; Lomer, Gerhard R. (eds.). 309: 208:
into the nearer frontiers connecting to the headwaters of either the
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The Potomac Company's charter stated that its goal was linking the
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Longfellow House–Washington's Headquarters National Historic Site
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notch leading west across the Alleghenies, where it intersected
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One of the major constructions of the Potomac Company was the
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Society for Promoting the Improvement of Inland Navigation
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American Civil Engineering History: The Pioneering Years
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Three of the canals, at Seneca Falls, House Falls (near
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Potowmack Company: Great Falls Canal, Locks No. 3, 4, 5
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Preliminary report of the Inland Waterways Commission
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Western and Northern Inland Lock Navigation Companies
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Washington's relations with the Iroquois Confederacy
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in 1792, and the Lehigh Coal Mine Company, owned by
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Navigation on the Upper Potomac and Its Tributaries
1788:General George Washington Resigning His Commission 444:(since 1863, West Virginia) the Company built the 405:There was a large conflict with Virginia Governor 554:George Washington; Archer Butler Hulbert (1905). 2536:Historic American Engineering Record in Virginia 2512: 1749:George Washington and the Revolutionary War Door 845:Potowmack Company: Great Falls Canal, Lock No. 2 838:Potowmack Company: Great Falls Canal, Lock No. 1 831:Potowmack Company: Great Falls Canal & Locks 1825:George Washington Taking the Salute at Trenton 1193:Initiated, co-wrote, 1769 Virginia Association 338:Company, which built a canal on the opposite, 876: 854:", 4 photos, 2 photo caption pages 1246:1788–89 United States presidential election 456:and Congress quickly approved its charter. 883: 869: 22: 2218:Washington–Rochambeau Revolutionary Route 1961:Washington and Jefferson National Forests 1692:Washington Monument (Boonsboro, Maryland) 544:, Chapter III. The Mastery of the Rivers. 1356:United States Capitol cornerstone laying 1218:Chairman, 1787 Constitutional Convention 1546:Ford Mansion, Washington's headquarters 1438:John Rutledge Supreme Court nominations 1223:George Washington's political evolution 763: 745: 2513: 2328:(step-granddaughter, adopted daughter) 1627:Electoral history of George Washington 792: 168:community and college town within the 2290:Attempted theft of Washington's skull 2171:Founding Fathers of the United States 994:Washington in the American Revolution 890: 864: 679:Arlington County, Virginia: a history 571: 1946:Washington Masonic National Memorial 1774:General George Washington at Trenton 1632:Post-presidency of George Washington 1208:Court of Appeals in Cases of Capture 999:Commander-in-chief, Continental Army 823:Historic American Engineering Record 812:. Western Maryland Regional Library. 805: 235:Lehigh Coal & Navigation Company 2285:George Washington Memorial Building 1351:Presidential Succession Act of 1792 774: 541: 13: 1951:George Washington Memorial Parkway 1941:Washington University in St. Louis 500:. The shares were lost, however. 478: 459:In 1817, fellow directors elected 448:in the Shenandoah River, creating 370:notes the following significance: 14: 2567: 1141:Resignation as commander-in-chief 817: 388:1908 Inland Waterways Commission 358:(in Pennsylvania and) across the 278:Chesapeake and Ohio Canal Company 2494: 2493: 2275:Mount Vernon Ladies' Association 2055:Mount Rushmore Anniversary coins 1760:Washington Crossing the Delaware 1198:Initiated, 1774 Fairfax Resolves 1033:New York and New Jersey campaign 1781:Washington at Verplanck's Point 1697:Washington Monument (Baltimore) 1566:President's House, Philadelphia 1403:State of the Union Address 1790 739:Books are list chronologically. 681:. Arlington Historical Society. 624:, Cabin John Press, 1983. p. 10 566:thomas johnson potomac company. 105:) was created in 1785 to make 2320:George Washington Parke Custis 2253:American Philosophical Society 2015:America the Beautiful quarters 1859:George Washington on Horseback 1811:The Washington Family portrait 1158:Washington Before Boston Medal 906:President of the United States 711: 686: 670: 627: 614: 600: 578:James E. Held (July 1, 1998). 547: 1: 2050:250th Anniversary half dollar 2010:D.C. and territories quarters 1831:Reception at Trenton painting 1622:Washington and Lee University 1591:James River and Kanawha Canal 1433:Federal judicial appointments 1048:Battle of the Assunpink Creek 677:Cornelia B. Rose Jr. (1976). 518: 2322:(step-grandson, adopted son) 1936:George Washington University 1795:Surrender of Lord Cornwallis 1686:The Apotheosis of Washington 1285:Cabinet of the United States 1213:1785 Mount Vernon Conference 782:The Paths of Inland Commerce 285:conversion into a migration 135: 44:; 239 years ago 7: 1767:The Passage of the Delaware 1561:Second Presidential Mansion 929:Second Continental Congress 775:Hulbert, Archer B. (1920). 636:The Business History Review 577: 560:. The Century Co. pp.  513:Alexandria Canal (Virginia) 506: 368:Inland Waterways Commission 354:to combat the influence of 342:side of the Potomac River. 164:, today's U.S. Route 40. 10: 2572: 2356:Elizabeth Washington Lewis 1983:Washington–Franklin Issues 1556:First Presidential Mansion 1361:Proclamation of Neutrality 1263:1792 presidential election 939:First Continental Congress 917:Commander-in-Chief of the 912:Senior Officer of the Army 793:Kapsch, Robert J. (2003). 187: 2479: 2413: 2298: 2148: 2118:The War that Made America 1846:Princeton Battle Monument 1640: 1612:Society of the Cincinnati 1610:President General of the 1491: 1448: 1393:Thanksgiving Proclamation 1300:Secretary of the Treasury 1231: 1181: 1009:Washington's headquarters 982:Battle of the Monongahela 948: 898: 491: 473:Chesapeake and Ohio Canal 336:Chesapeake and Ohio Canal 242:Archer B. 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At 295:US 40 216:, or 214:Cheat 156:near 2421:List 2139:film 1971:Arch 1645:and 1423:1796 1418:1793 1413:1792 1408:1791 267:and 196:the 85:The 64:1825 60:1825 49:1785 42:1785 903:1st 754:207 644:doi 562:187 463:of 2517:: 797:. 696:. 658:. 650:. 640:58 638:. 593:. 582:. 564:. 532:^ 475:. 331:. 297:. 121:, 97:, 93:, 2141:) 2137:( 1236:( 884:e 877:t 870:v 721:. 707:. 666:. 646:: 66:) 51:)

Index


United States
improvements
Potomac River
wagon road
turnpikes
navigations, and canals
American Canal Age
Chesapeake Bay
Cumberland, Maryland
Cumberland Narrows
Nemacolin's Trail
Braddock's Road
National Road
District of Columbia
George Washington
Tobias Lear
Thomas Johnson
East Coast with
Old Northwest
Ohio Country
Allegheny Front
Ohio River
Cheat
Monongahela Rivers
Society for Promoting the Improvement of Inland Navigation
Western and Northern Inland Lock Navigation Companies
Lehigh Coal & Navigation Company
Benjamin Franklin
Founding Fathers

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