Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-02-22

and one WHO loved his country. have
laid this. Mr.. Speaker. moi because 1 can
ever harbour. other than feelings of the
~armesi gratitude and affection, for the
people who have honoured me with their
confidence. and have given me a place
upon this floor, as their representative
not because, do not delight in the III.
tie valley OF kahawha, In my opinion.
MIR. Speaker, the lOveliest land the sun
shines upnn: on that spot | expect to
pass my lie, and there TO Law down nv
bones but because under other circum
stances. | might perhaps be enabled TO
press this subject more successfully upon
the House.
Some gentlemen, notwithstanding the
extreme caution. with which this subject
has been gone iuiO, the many examiua
tons and surveys which have been made
all resulting IN the most f1aiteriny reports
OF the Praciicabiliiy of the project, still
continue sc"p,ical, and alarmed Al the
magnitude OF the undertaking, set il down
as Wild, Utopian aud ex,ravagant. Icon
Irss, Sir. that | once thought so too but
l cannot help believing, II they will be
SOW a proper atteuiinn upon The subject.
u Will result IN perfect conviction of lis
praciicabiliiy.
IL has been said too, that it will absorb
The whole revenues arising from the fund
Tor internal Improvement, and that moth
ing Will be lelt for other AFFECTS. Gen
tiemen VIII excuse me, II before give
my consent TO Ih's proposition, | should
require them to besiow q few moments
attention, upon thai fund, its amount, lis
capacity Tor increase. aud its sufficiency
in a very short period to accomplish eves
~ desirable work within The common
wealth, and tinalIy.tn pay all The ordinary
charges OF the state government. Atpre.
sent Tins fund amounts TO the sum of
S .623 46l, vested in numerous stocks
OF this the sum q! S267 ,5ll is unprosuciive
aud consists OF the stock of companies
which have not completed their works
ana consequently make no dividend.
thr avfrag' Income, from The productive
part OF the fund. Tor The two last wears
mas been $50 500, rather more than six
per cent. upon the productive capital
In one and two years, the whole fund
VIII be productive much will pay eight,
ten, aud even twelve per cent. per aunum
| would particularly meniiom the James
River. which now pays II pr. CT. pr. ann.
the Dismal Swamp Canal, and Roanoke
Stocks, each of which, il is thoughi bv
those best informed upon tl,e subject,
viii pay as well as the James River
Stock
IL the data thus assumed should be
correct, and believe the reports of the
BOARD OF public works will prove them TO
oe so, u Will furnish us with the basis
OF a calculation which for INV amuse,
meni and information, / have heretofore
been induced TO make. Money at a COM
pound interest OF per cent. rather m ore
Than doubles itself in IL years.-This
fund then now Amounting 10 81, 623 46i
at per cent compound interest i'm IL
years will be S3, GAG .922 in d wears will
be Sc 493,S14 III sc years Sl2,9S7.
GSS. IN round numbers say Sl3, 200. OCO ::
yielding annually arevenue OF $3.50, 600.
But, SIR, II 2 or 8 per cent. be assumed,
which believe must he donr, this desi
derainm would be arrived at much ear.
her. Who in this House, who, Sir, that
delights IN the prosperity of the country.
bui must look forward with satisfaction
10 the mighty achievements of which this
fund is capable and who, MIR. Speaker,
l emphafIcaly ask, would deny tb
humble pi'tance sought by this bill, 10
aIi IN the accomplishment Of work,
certainly of the highest political impor
lance 10 the country (?
he more this subject has been exa.
mined, the greater has been iis popuIari..
~; aud when il shall come 10 be perceiy.
ei, by this easy process, that the state
capital will receive an augmentation of
Sl3, 900 600. not in money. il ia true, Sir
out III positive labor. bestowed upon Tie
face of the country, liable Ia no accidents
or lns~es. but remaining with it, perma
nen'Iy. and forever, constituting in fact
part II The country itself, this insiitu.
ton will be identified, with her political
existence: Virginia will never abandon il.
] believe too, Sir, NAV say she will no,
abandon The " rk now under discussion.
l. already constitutes part of her poll
iical system. She will pursue il, steadily
aud perscveringly. She will accomplish
y, u am not Hais'a AIKEN in surprising 80
You will not strike this clause from the
bill. If You do. Sir, would advise that
The whole work should be abandoned. II
would be idle, waste of time and money.
io set here discussing its value, and irns
periance, While yon withhold the means
Of effecting il. This subject might be
presented TO TIE House in many other
shapes. / might shew that in HE orga
nzaiion Of the fund. il was principally i'm
view /: that in the numerous reports of The
Board OF Public Works, and of the stand
ing committees OF this house, your at
fentIon has always been called to this
object first : but, Sir, ! shall reserve any
thing further have tos say on this subject,
until the occasion shall perhaps more pro
perly present itself, Oh the passage of the
bill. fear, Sir, that an this proposition.
| have been loo proiix already, and will
conclude by begging The House that they
will not strike oui this clause, but will
meet The question fairly on the passage
OF The bill, when an opportunity will be-
| afforded 10 lis friends of vindicaiiug all
its principles.
Shetch of Mr Chapman Joiiasons opinions,
| ne ea.rareeend an iLa Nn.,uio II 49,.