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How much did the Erie Canal cost to build?

Created from Britannica articles using AI. AI can make mistakes, so verify using Britannica articles.
Map showing the route of the Erie Canal across New York state, running from Buffalo on Lake Erie in the west through cities including Rochester, Syracuse, Utica, and Albany, and ending at the Hudson River near Troy and Cohoes. The map also highlights nearby lakes, connecting canals, and major waterways in the region.
Erie Canal

To build the Erie Canal, the state of New York authorized loans totaling $7 million.1

The project proved to be a significant financial success; within nine years of its completion, the tolls collected from canal traffic had fully repaid the state's initial investment and provided enough surplus to finance the construction of several branch canals.1