Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1824-01-30
JAMES RIVER CANAI.

We rernb!ish by request, from the Enquirer
tie statements, and deductions, of 'sAdcu.n on
the james Rriver Canal. In doing *, we de-
sire not 10 ba unlertood, as enlistinr ourselves
advocate, of that measure. Originally friend
~ to that great un.it.rta<inG, VIC have been lat
terry convinced from the arguments of its oDpo-
nents, and the experience which the prOrrcss al
ready made il the work, has furnished that it is
beyond the means of the State of Viroinia that
its cost must greatly exceed the computation Of
Moore and Briggs, and that if accomplished, ii
will be productive OF no benefits adequate TO the
vast and indefinite expenditure. Without wish
ing toIncur the censure OF presumptuously de-
Gliding upon subject, which we do not pretend
to understand, the following remarks NAV serve
to illustrate these several propositions.
The statements OF * Adeu,o in relation to the
present and future amount of tolls on James Ri
yer, are probably correct. Was the calculation
much more in favor OF the Canal than it is by
enhancing the revenue which is expected to ac-
crue from freight, it would yet be insufficient to
remove the great difficulty which is opposed to
ais prosecution. No man has ever doubted that
the Canal once completed, and in efFectual one
ration, that the amount of tolls might be ADEQUATE
10 discharge the annual interest on the capital
expended. For if, after making the proper de-
duchon from the present rate of tolls the income
was found insufficient TO defray the interest and
to meet the contingent expenses of the Canal,
for repairs, &c, yet that purpose might be effect
ed, approximating the rate oftolls, more near
ly to the existing standard. 1t may he granted
therefore, that the estimates of the writer alluded
to, are correct, and that were the James River
Canal In actual operation, the tolls on the ton
mage which navigated ii, would be competent or
more than competent, to meet the annual accu-
mutation of interest, and all incidental charges
But how does this prove the ability Of the State
TO raise the great sum which is first necessary TO
complete the Canal. and to render It productive :,
Absorbed in contemplating the remote benefits
OF the Canal, upon which he SAYS, g it would be
most agreeable to dilate,n ':Adieun does not fur
nish single suggestion for the accomplishment
of this primary object. Is the loan Of three mil
hons, which is demanded by the Bill now before
the Legislature, and which every mar who OBJ
serves the inacCuracy of the estimates of Moore
and Briggs and which have already been proved
to be greatly inaccurate and Insufficient by the
progress made in the work, and by the report of
the James RIVER Commissioner, Is this enormous
loan to be effected from the State Banks They
have already refused to- furnish the loans author
ised by the act of the last session. hnt upon the
pledge of the State not to pay the interest onlv.
but to refund the capital, and at the legal inter
est OF 8 per centlrn per annrm. Is il 70 be Dor
rowed from the Bank of the United States The
mother board at Philadelphia have decided rI,,on
the application of Northern Companies. and ON
one made by the Executive ofthi5 State, that thcv
conceived loans to Companies or TO States. to be
ont OF the range Of their legitimate dealings and
contrary to the object Of the Institution. From
Individuals Proposals have already been made
to capitalists, and after six months publication
were responded TO by oneindi,. !ual's Iendinpthe
sum of 5000. Or is the necessary sum for
completing the Canal, to be raised nv taxation
The most enthusiastic promoters of the design
have never ventured to suggest this mode. nor
would its most friendly and devoted advocates in
the General Assembly, hazard the attempt. Tic
State is in no situation to bear such pressure Of
taxation, andifit were, the unintercstcd sections
of the Commonwealth, would revolt at contri-
buting All equal proportion OF means, for effect
ing an object bywhich theywerc neither innedi-
atoly or remotely to be benefited, further than
in the lustre it might reflect or the reputation of
Virginia.
lit he npractcable TO borrow the three mil
lions Of dollars, required by the present bill IL
would be supererogatory to enquire how much |
short that sum must be, of cfcctinr tire object
The estimates Of Moore and Briggs !
are known to be iDsincere and Inaccurate |
Looking forward to the probability of hcnr en-
ploved to realise the work, which they had been |
employed to pioneer, they were of course in
,erested to recommend it TO the adoption OF the
country, by every argument Of cbeapness and
If they were honest in the cd