Petrović, Nikola: Hajózás és gazdálkodás a Közép-Duna-Medencében a merkantilizmus korában (Vajdasági Tudományos és Művészeti Akadémia, Novi Sad - Történelmi Intézet, Beograd, 1982)
Summary
CHAPTER IV - THE CONSTRUCTION OF THE CANAL BY A PRIVILEGED PRIVATE STOCK COMPANY The designers entered 1793 with three problems unresolved: the signing of a contract with the Hungarian Chamber, the purchase of some land on the route of the future canal, and the severe labour shortage in such a sparsely populated area. They hoped that the Hungarian Chamber would put at their disposal the unused labour dues of its subjects, on a condition that their wages be paid to the Chamber by the company. After a few conflicts and minor snags, the contract between the Kiss brothers and the Hungarian Chamber was signed on 27 March, 1793. In fact, at that moment the stock company for building the Danube—Tisa canal did not yet exist. I have given a detailed analysis of this contract, comparing it with the designers' original demands and pointing out the changes in the final draft. The contract acknowledged the Kiss brothers' principal proposals, first, that the canal would be built by a stock company, that this company would get a state loan, and that the company would hold a concession for its exploitation for a period of 25 years, with a priority right on the transport of salt. It stated that the repayment of the 200,000 forint loan would begin after a 10—year grace period, and would be repayed in 15 installments, at an interest of 8000 forints per year, which was rather a high rate. Further, if it turned out that the designers preliminary estimate of the cost of building the canal was too low, the stock company was obliged to complete the works at its own expense. The future would show that such a precaution was more than justified. The state retained the right to redeem the canal from the stock company, after 25 years, at a price which would be estimated by a neutral commission, on the basis of the current prices at the date of redemption. An important concession was given to the company by the provision that all vessels, goods and persons proceeding by the canal would be exempted from all local taxes, charges, bridge tolls and water fees. Besides salt, the company was awarded priority, but not exclusive (monopolistic) rights to transport all other state and military goods, at the rates offered by private shipowners, who were guaranteed full freedom of river transportation, at the rates charged by the company. These were the key provisions of the contract signed between the designers and the state. After the Privileged Shipping Company had been constituted, legal proceedings were put through to transfer all rights and liabilities from the Kiss brothers to the company. 489
