Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-03-06

Winchester and Romney 10 milos in length, COSTING,
$500 per mile and the residue Se7O per mile He
declares his full conviction that tho tolls would NOR,
than pay the interest the expenditure aud that it
Is work OF great utility and eccssitv This repott
may be found in the i0;h Annual Ropor, ofthe Board
OF Pubhc Works, page 400, aud IN the 1eth Annual
Report Is an additional report, and also resolution
OF the Board on the subject and extracts from the
Messages of'Governors Tyler and Glcs-Ciovernor
Tyler. IN his message, recommended the immediate
construction OF this road at the expense the state rs
did also Governor Gilns, in two successive messa-
ges-Fhc Board ofpublic works, in response To res
olntions respectively, ofthe House OF Delegates and
the Senate, have twice expressed an/6pnion To the
same enact. The Bi beore you, has been drawn
wth great care aud IN strict conformity To the es-
tmates OF the chief Engineer. IL authorizes loan
oi 500, 900, the interest which is to be paid out of
tolls collected on tho road and far as they NAV
prove insufficient, out of any portion of the income
the fund for Internal improvements not otherwise
appropriated lie President und Directors of the
James River Company to superintcnd the work
and their duties may be discharged without much
additional labour ut the time they arc acting on the
james river subject. They arc to require tho Enpn-
Ger TO make an accurate location OF the road and
return to them maps and drawings designating
each minute section, with the probable cost and
modc OF construction They appoint uperntepdant
10 make contracts and conduct the con-
tracts however la be binding unless ratified 10y the Directors
a'e are To be erected and tolls levied the work coe
w sections and the nett proceeds he paid quarterly
mo ;,e proceedings be reported
Them befOr
the General Assembly If gentlemen Of the cxpe
%eey OF the measure AN sure tho details of the b will
but The bill proposes loan, TO which, aware, many
cncriana decided objection TIL. public mind is strongly
stock systematic system my humble opinion that
ever persisted in by any people warranted in saying SO
10y the abundant experience Of Government The
uad Tor internal improvement established in 1915 and
Consisted ORIGINALITY Of what called the "pcrmanen fund.-
loanN SOCK and JOINT stock 10 the H.
The proceeds Of this fund, have turn been funded and are
now called the "dspoaoie fund amounting 1851 $50
. and pn..l,, VI
S,.l0o,j9 Iioi this the S6O6 s9i II has been in
vested IN JOINT stock companies for the bcch, aud
navigation OF these Investments $50 yields some income
while SJ.soll III has yielded onu cent Even The
productive Investments of $4,000 yield au annual profit
o' only SS,lo 80 The really productive part of the fund
consists Of bank stock and loans Five sxrh Of all the money
invested jnn companies wholly lost Ia the Gm3
ana ie remaining one-siX'h gives but aDlc in
tcI.st "
So much FOR experiment II wood seem IN me ,ba, -
ah reflection might have load predecessors antcna,e
such result The union between tie and Stc kholde
nnatuTal one, ONLY calculated To arI "a, mi 90
!cupdy the means of pr0hng 10y public piod,-aly The
commonwealth pays tw0hnhs, bounty to what Is called
iaiDduol ciey;ri-e and receives no,bn in rc,," N -
Is The money lost bu, is reniciously invested The Stock
ho'es are clothed with power public through all
alton Taxation of The of sovereignty which
oSht 10 reside only the governmentn repT
Of the people We, given up 10 individuals who
exercise forever without abatement Tho comn,ny
acquires vested rights which you road
or canal Is hrs opened the receipts of tolls small and hence
the necessity and usual practice of fixing high ratio Of tolls in
order to ensure respectable profit expenditure Yet in
process oil e as The Improvement produces desired effect
IN opening new of trade and aoing more extended
the receipts propoonably increased
and thea the ratio of tools might very properly Ge reduced
Yet you cannot do IL has become vested right and An
odous monopoly is created. Do want instances, The
Fl James River Company incorporated 1884 with the cx
elusive privilege OF navigating that 1915 when Nh
state determined on the perfect improvement of the navi
Son couu only procure surrender of the rights of that
company, 10y an arrangement, pay twelve per cen,
n. TO- and 10 per cc"' forever after The stock which
Originality cost l0o has risen TO $500 per share The Dismal
swamp company was incorporated under the regal govern
nen The stock cost AT fist lOOOt aud sells at SID 400
per snare yielding an annual profit of more than per cent
In all such cases artificial aud fictitious value is sivcn to
iioP9y ny your legislation, and just in proportion
sockocT are enabled 10 exact unreasonable aud unu
profit TO that extent do you Cypress community in ecne
rat ana TAX the many for The aggfandzomeut few 1t
canal is Of any benefit to district country. II NAV af
ou such an accommodation, h7 ssscnns the cost Of ampo
o", u 70 usuy u'e payment OF per cent ile
cNpendei IN ITS cOnsirucIonb If you change 10 per cent, II
objection, that the Of tolls the same IL true
That each individual pays toll than he in the FIRST
aggregate receipts are greaor aud thai community which
once paid only $1,000 for instance for road or canal now
pays SlOOOOihat 10, few individua without auy adl
ona expenditure. are allowed 10 demand giyen mum
Der Of people rcsdas contiguous another double The
which admits of remedy where control has passed out
OF the hands of the State The tolls is 10 be dein
Ell IN the hfsi instance and human racy can 6eses
what ratio be just under every possible future condition Of
things IL unqesonaby for the coyenmcot to re-
streams and public works This is strictly and enpha,callv
the public domain While this is the case il is in he poycy
OF Inc Legislature 10 make such changes the rate OF to
and regulation Of the work. may suscrvc the cono
good Having due regard the raryng state of trade
such toll for the Of the work those who enioyed il
might he able to pay, and Those who reside ia the
vicinity OF road or canal have advantage over those who
are more remote but where they pay price for
and that Is brought into the purse il rebounds TO line
benefit OF the balance of the comnunty and thus ccalzc
,neir advantages No property ought worth mere
nan per cent and II wise policy The government TO pre-
serve by all legitimate means, equality in tho
OF he different descriptions of property both pubic and phi
vae Otherwise the sauary division labor and diversity
OF pursuit. which ordinarily exists would done a,yay and
low vacations particular kind Of Investments ,norc m
cTave than the rest would engross the Of all This con-
ou can never be ozerted while public highways the
thorough fares of the couuiIyhc of all RHO
ya granted irrevocaby individuals like so
heis, with the right Of taxation experiment.
(Jo he continued