Township of North Bergen, NJ | istock by Megan Brady
Township of North Bergen, NJ | istock by Megan Brady
#morriscanalmonday The Morris Canal and Banking Company was established as a private company by an act of the New Jersey legislature on December 31, 1824. The company had the mandate to construct an artificial navigable canal as a public roadway across northern New Jersey in 15 years. According to the charter, New Jersey could take control of the canal after 99 years. If the state did not acquire the canal, the charter remained to be in effect for an additional 50 years, at which time it was automatically transferred to the state at no charge. The original firm failed in 1841; it was reorganized in 1844; banking powers were revoked in 1849; and by 1851, all that remained was a canal operating company. #morriscanal #seepassaiccounty #richhistorybrightfuture #njhistory #passaiccounty
The image is of the Morris Canal and Banking Company building in Phillipsburg, NJ. (Courtesy of the NJ State Archives)
Original source can be found here.
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