State of Ohio Canal Stock - 1848 dated Ohio Canal Stock CertificateInv# AN1061 Bond
Bond with bull, horse and dog vignettes. Especially nice example! The Ohio and Erie Canal was a canal constructed during the 1820s and early 1830s in Ohio. It connected Akron with the Cuyahoga River near its outlet on Lake Erie in Cleveland, and a few years later, with the Ohio River near Portsmouth. It also had connections to other canal systems in Pennsylvania. The canal carried freight traffic from 1827 to 1861, when the construction of railroads ended demand. From 1862 to 1913, the canal served as a water source for industries and towns. During 1913, much of the canal system was abandoned after important parts were flooded severely.
Most of the remaining portions are managed by the National Park Service or Ohio Department of Natural Resources. They are used for various recreational purposes by the public, and still provide water for some industries. Parts of the canal are preserved, including the Ohio and Erie Canal Historic District, a National Historic Landmark. Ohio, which achieved statehood during 1803, remained a sparsely populated region of 50,000 people who were scattered throughout the state and who had no means of transporting goods economically out of the state. Without easy access to distant markets, agriculture served only local needs and large-scale manufacturing was nearly non-existent.
As early as 1787, George Washington and Thomas Jefferson had discussed the desirability of a canal linking Lake Erie to the Ohio River as part of a national system of canals. It wasn't until 1807 that Ohio's first Senator, Thomas Worthington offered a resolution in Congress asking Treasury Secretary Albert Gallatin to report to the Senate. Read more at https://en.wikipedia.org/wiki/Ohio_and_Erie_Canal
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.