The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1828-02-07
poqri of Public Horks.

I'D Directors Of the Boarn OF fhpllc hofhh,
"a. submitted by The Governor 10 the House Of
p.fegafes 1t was accompanied by the Report
- Principal Engineer, ON his survey and oh-
V.ia,,,on Of the james and Jacksons rivers as
s,se,ed by n resolution Of the Legislature OF the
m March lat.
q',e Repp,f is a long one--A general Sketch
.f;,s c,ntents. accompanied by few extracts.
-, serve sufficiently 10 show our readers the
,.aaracter of the Report.
rbe amount Of the Permanent Find which
...Iis any iacotae is + | ,3o7 sJo--and that part
aafaf fund winch produces no revenue. is S6l
m ll-makng IN aggregate of Isl .Ils,9ol
- TINS Permanent Fund is vested in the
eb.res of the Little River Turnpike, the james
pier Company. most OF the Commonwealth
eb,res in the Bani.s of the STATE, the Dismal
swamp Canal. the Swift Run Gap Turnpike
A,,o,natnx and Potomac Companies.
r6e Disposfble Fund consist of Stocks acquir-
.1bv the application oil the Fund for Internal
Innro.emeni. md are disposable aereoably 10
,be l2,h section ofthe act erecting that Fund.
/, is vested in a certain number of shares of the
Ranks. and in various public improvements.
!, amounts in all to SOL 1ss OF which Sl95.
nm nradnfes revenue 10 the Fmd-and
sill isS is unprodnciIve.
The whole amount both of the Permanent
and Dispombls Fund is 90 OBJ, ai9 II; 10
which adam9 the balamce in the Treasury on
ria. 3Hh November last of 1864 olive have
ths arqrfeade an,0nnt Of The Fund for Internal
fq5rorement. S2.oi5, 1913 y
lfan the pro luctive portions of these funds,
psrmanent aud dispoiable there has been re
y,lyed for dividends. an interest smce first DE
een,bef 1870 Sil2.2I2 s5--Api there has
been dsbnrsed between 3oth November 1875.
and Is, December. ISL, Sli5,6ol %; lthe in
L. \ ,,,Iq
being ;S7e $40 81
The certain and probable charges upon the
income Of the laaa foi the current year, Will BE-
Sl23 4lo 83--to discharge which. the probable
receipts from tie productive stocks Of the fund
will be SIO6 1874 1.-THE probable deficiency
viii lie i l. 81 so.
"ltWi he seen tsays the Keport,) that there
xxi Is deficiency Of funds 10 met the engage
meas entered into, and which should be COM
ph Il with. WITHIN the year. II IS the first ilne
II has occurred since the establishment OF the
Board OF Pubic Works. and cannot be ascr-
bed 10 wanfoi due caution aud cmcunrSpccon
III creating charges payable out of the income
81 the YEA but has dlIscn entirely tfom the
circumstances OF 4 material reduction ID tue
dividends declared Nv the Bank kifGnia and
Farmers Blnk of Virginia, which vas neither
expected nor could be ioreseen.--Ihe demands
consist Of nstilImants Of subscriptions made by
authority OF law several years AGO, and eAgced
those al lii>a kind pad last year. by the sum
OF ~ Y67 81 onlv : whereas the reduction o.
income from the cause before mentioned. Il
mounts toan1waids OF $40 oaO. The receipt OF
til last sum. when II was reasonable TO expect,
bat ol which The fund has been deprived. would
have increased the income 10 an amount large
" eScedmg the expenditures chargeahlc upon
y and aitrr paving all demands. would have left
ii the treasury 10 The credu the fnnd great
er balance man has existed ron MANY years.
Tn, wen OF thu ,uhject, it's hope Will -dtStau.
tolly sHr's. TINT t6a existing deficiency has "a
risr', from causes brvond the conironl Of the
b9tri, and i, in no degree 10 he astrihcd 10 u
disregard oi the ability OF the fund to meet TIN
approximations charged upon it. But from
whatever cause Tie deficiency may have arisen,
II is Important. aud much to be desired, tl,at
the faith o the Board should he preserved by
stlct compliance With Us engagements. Thu
inconvenience aud deniment 10 which improve
nfus n PreerfSs. may be subjected by disap-
Pehilneni IN receiving the respective amounts
a#ie 10 faft. aEd necessary 10 enable them 10
ro>ecaie and complete tIier lahouts within the
VI IS IS exp 'ciod Of several Of thcm furnish
tNaaniher reason IN favor oil compliance nv
LIE Board with Ire engagements entered into
10 accomplish this desirable ohier;, II is res
ptrfu' recommended that the Board Of Public
a2fha be authorised hs an ACT Of The Geacr.
al 49, la,v 70 borrow. upon pledge OF a por-
thl't H. dlsposahlr & ok Of HI trmd Il shin OF
m'nrf not rNeeedlne 10000 upon conditions
'4g Id lati as >pon d. the income OF tic fund
'356f existing engagements Will pegn.i a,d
II u m new subscriptions he nah to BE- ouul-
stst ..ttl the Debt shall be discharged
I my here be remarked, thar he opinion is adj.
."1 with confidence, hiatt the debt thus con-
"a' e, Il II shall ne authorised, may be dischai.
yea WITHIN onr year from this date
"sofamg 10 the Report, this exhibit of the
-" u T. nds shews an increase exceeding
''' cut npon the capital stock originally
s,Ngeei 10 The object Of Internal Improvement
S'#'4 1t Is stated, tla' the ability Of the Fund
~, IA. increased in an equal ratia---in conse-
345ts u nnproh able Investments made in
''' llsd' cts. but il greater degree from the
''''o't"a nrsS ot some ofthe stocks. acquir-
s4asfEptions 10 several Companies,
~ improvements ar not yet complete.
al, T. next subject Gays the ReportA 10
'''n I'm General Assembly is invited to turn
a'fniloa, Is one standing in a different rcla.
~ 10 'he 'nnd, from those Just mentioned
'nRrmatHa nj ofthe james River has been
prosecuted on the credit of the State
'9e interest ON the money borrowed Is
~ on the fund for internal improvement
't'ef complete the success of the enter-
49,. NY De, nov ever great the receipts the
ia ~ ohiV be liberated from the payment
interest, and can receive no accession 1T
3' m consideration a. the large rrquis
s's aade upon il.
~ interest IN this account charged on
'-''he OF This yeaf, viii be 1862 ), but
5r - should have edit for the amount Of