Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1828-02-02
From the Richmond Compiler, Jan. %,
BOARD OLE PITRIIE WORKS

Work, was submitted BY the Governor to the
Hoas- of Delegates. was accompanied by
III. Report ofrhr Principal Engineer, on his
su ev and nomination of the James and jack
sons rivers, as directed by resolution Of the
Les,,l,turp Of he Oh March last.
The Report is long one--A general Sketch
OF is contents. accompanied ny few extracts,
may serve sufficiently 10 show our readers the
eharact Of The Report.
: The 4m,unt of the per,nan~nt Fund which
yield, any income, IS g. 57,s5o-snd tat
pat fthe fnnd which produces no revG nue.,
IS S6l.lil ll-maktng an aggregate OF ST.
4lsoSl IL Tnis Permanent Fund il vested
3 tie Sharrs of,h- Li'ta River ru,npik-, the
ia aes River Company, most Of the Common
veal rs S':arrs IT, the Banks of the State, the
D smI Swamp Canal, the. Swift Run Gap
Tu npike, Appomattox and Potomac Compa-
mics.
The Dispossble Fund, consists of stocks &C
qui'ei by the sp ,lications Of the Fund for In
,ernal Im pro, ement, and are disposable agree
ably To- the 9Th lection of the act erecting
thai Fund. L. is vested in certain number
or shares of Banks, and in various public inn
improvemen,, II amounts in ali 20 S6l2,-
4ss; Of Wal, h Sl95 500 produces a revenue 10
I'll. Fund-and S4I7,Iss is unpsoductive.
The whole a mount both of the Permanent
ami Dispo.able Funds is .S2,03l,i4e II, to
whig addlns tie balance in he Treasury Oh
th, 3oth November last Of 1864 81, we have
the aggregate amoun' of lht Fund for Internal
lmproNtmrut, S2oS5,c83 y.
From III, productive portions of these fnnds
permanent and d sposable, there has been re-
cc,eJ for dividends, and interest since the first
Dreembrr, $50, Sll22l2 Sand there has
been disbu sed between ne Soth November,
1926, and Isl December, iS27, Sll5,65l 90,
Che interest on csrti6 atcs OF James River
Loan alone being SIC 37dS4
The certain aud probable charges upon the
income OF the Fund for The curren' year, will
be SI23,4l9 3o-to discharge which, The pro
bable receipts from the prod tive sto' ks OF
the fund will DE- Sl66.l9l 1.-THE probable
d ici,ncy will be Sl7,227 So.
sit viii be seen (says the Rrport,) that there
exists deHcirhry Of fu0ds to meet the engage
ments entered into, and which should be- com
plieJ with, within the year. IL is the hrst tine
/, asS o CURED since the establishment oil the
Bo I'd o. Public Works, an ca;not he ascriNed
,oa want # due caution AMI circumspccuon
In creating charges payable our of tie income
of ne yen; but has arisen entirely from the
circum,tanCe Of a ma'eria reduction In 'he dis
yidends declared by ,he Bank Of Vngi la and
Farmers Bank OF VirginIs, which was n. i'aer
exprC ted uur cou d b. fnyeseen.-The demands
upnn the furd payable within he curreni y ar,
consist Of lEstahnents OF subscrip tions made by
an hority oflaw Sc eral years ago, AID Exceed
those Of like kind paid last year, by he sum
of S7,767 81 only; wnereas the reduction OF Ia
come, from the eau { etUre mentioned, a
mounts TO upwards OF $4,000. The receipt
OF this last sum, which it was reasonable to ex-
pect, bu, Of which the fund has been depri, Ell
would have increased the income to an amount
largely exceeding the expenditures charseable
upon it, and after paying all demands, would
r. IL, ~l>,aa tI,a
fund a greater balance than has existed Tor
many Years This view of the subject, it is
hoped will satisfactorily shew, tha, the exist
my deficiency has arisen from causes beyond
the controul of toe Board, and is in no degree
10 be ascribea to 4 disregard oil the ability OF
the fund, TO meet the appropriations charged
upou it. But from whatever Caus' the dehclen>
CIV NAV have arisen, it is important, ard much
10 be desired, that the faith Of the Board should
be preserved by strict compliance with its
engagements. The inconvenience and detri>
ment 10 which Improvements in progress, may
be subjected by disappointment in receiving
the respective amounts due to each, and heces>
sary TO enable them TO prosecute aud complete
their labours within the year, as is expected OF
several OF them. furnishes another reason IN f.
YOUR of a compliance by the Board with the
engagements entered into. 10 accomplish
this desirable object, il is respectfully recon-
meuded that the Board Of Public Works BE-
as,horlsed by an act Of he General Assembly;
to borrow, upon pledge Of portion OF toe
disposable Stock OF the fund, sum of money
not exceeding 500, 900, upon conditions that it
be pail - soon the income Of the fund, un>
der existing engagements, viii pc; mil; and nat
NO new Subscriptions We made, 10 be compiled
with, until the debt shall be discharged. II
may here be remarked, that the opinion is adj
c.,ead ,vith confidence haf The debi Inns con-
trsctpd, If it shall be authorised, NAV be dis
charged within one year from this date"
According 10 the Report, thi, exhibit Of the
state Of the Funds shews an increase, exceed
ceeding so per cent upon the capital stock or
iginspy assigned 10 the object OF Internal I'm
prov nen,; though Il is stated, that the ability
~. Ennd hns MT increased iu m equal ra>