The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1823-03-28


Of their stock, or TINT the company should
find security for the payment OF the n
mount OF stock unpaid al tie lime OF the sub
sefiption on the pari OF The state a il res
poets YOU, Kfiher OF thesr acquisitions Of The
iaw bad been complied with; and the iegisla-
fure in departing from the general provisions
of the Law, of which il seems they have been
hitherto extremely Tenacious, must have been
Influenced by belief that TIE read was one
Tint ought 70 progress, even II IL should be at
the expense OF the state.
! b. one Of The provisions of The general
turnpike law, II the road remained incomplete
at the expiration OitoDyeafs from the creation
olthe company, the charter oudt ne forfeited,
.. the nghts OF The company in he road would
cease and determine. Que OF the provisions
| OF the act unlerconsderation provides against
this event, and secures Tire interest of the com
parry IN such part OF The road as mny be I'm
! ished. from forfeiture. II is true thai conf
dent belief has been entertained that the le-
gislature would have extended the time limit
ed by law, and that q forfeiture Of the charter
would not b. enforced but can II he wise,
latter struggling through Tie difficulties you
have had tofacouner, by tie rejection Of this
met, to place il in the power Of The legislature
from time 10 time "a the periods TO which your
charter may be extended shall expire, 10 de-
prive you Of the road, and take from yon the
whole fruits and profits of your enterprise
That part of the law which is most objected
to- is the right reserved by the legislature 10
apply the lsaferlhe expenditure ofthc whole
capital stock, TO the further completion and
extension Of the road. This right TO apply
The tolls did not exist in tiic president and di-
| rectofs under the general law but il is APP
parent 10 all thai il ought to exist somewhere.
II the road, Tor example, should be made by
the stockholders subscription, aud that Of the
state " thin one mile al the road which DIVORCES
from The turnpike route, nj Nj Langhorne's
Mill, il would he important both 10 The state
aud company, that the road should be finished
above that pont--otherwis those who would
| avail themselves of the turnpike IN bad wen
ther would use that road in good so ii the road
should he finished 10 The eastern side of the
loot OF the mountain, Justice 10 that section of
country, for the use OF which il is designed,
| and the interest of the stockholders alike re-
guire That the tolls should be appropriated to
making the road across the mountain, as il o.
therwise would be undergraduates TO The peo-
pie on the western side Of she mountains for
| any load with which they could cross the
! mountain, might, without the turnpike, be ca
silly carried rom that point to IvnChhnrg {;
aud il would he Wrongto ektort tolls from them
Ia a rond which afforded them no substantial
advantage. The stockholders are secured from
The improper exercise Of this right on the part
at the state, by their representation in the
House Of Delegates, md by The wants of other
sections oil countryk as it cannot be supposed
that the representatives. of other sections of
state y ould consent that the dividends oD the
| S3o, 900 subscribed by the state should lie APP
piled TO the making OF the road, CNccptin one
of the cases already explained, when that part
OF the country represented by them stood in
need OF assistance from the revenue Of the
| fund Tor internal improvement II IL be adj
mitied that the night TO appropriate the tolls
Ia the extension ol the road IN one of the
events already noticed, should exist some
where, the considerations iust mentioned
would point om the legislature as the most
proper body in which il can reside.
The lnsi objection made TO isact is that the
state, by the appointment OF three directors,
Will have an undue influence in the directory;
but admitting those directors to be more than
the state is strictly entitled 10 from the sum
subscribed when il is rccollected that the
board of public works can appoint ITO man MS
director TO represent the states interest but
one who is a stakeholder in the company, and
whose interest will IN every respect be ideu-
tifcd with the interest Of the other stochhold-
ers this will appear 10 be an objection mere
fancilul than solid.
have addressed these hasty observations
to You more with the hope that they may di-
rect your attention 10 the law auAthc report of
the board Of public works, than with the ex-
pectation that they would of themselves have
any weight in your decision on this imporlan,
subject OBSERVED