Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1830-03-09

of the different descriptions of property both public and pri-
Of pursuit. which ordinarily exists would be done away, and
few vacations, particular kind Of investments more IT.
crave than the would egoss the aim OF all ms con
tou can be exerted while the public highways The great
thorough fares of the valuable OF all terrific
ryare granted OUT evocaby to individuals Ike 50 many
hets, with the right of taxation appointment z !
But how is the State to find the means OF con
structng all neediu public works? Not by an IN
crease OF taxation for against that the common fee
ling OF the country would revolt 1t IS true, you
might raise money by excessive taxation, and WISE
ly expended. the profits accruing from the work,
would go to deiray the current expenses OF the gov
eminent, and thus lead to gradual reduction OF the
taxes again-But that does not prove it to be expe
dicnt. You might levy ten millions by taxation, and
loan out, eXpend it roads, and the interest or
annual profit, would meet oil the charges of govern
ment. But you would ruin the people IN the process
of cnacton. 1t would be draining all the blood from
the of the patient, and then nflsing 1t again
by drops, while in the mean tpe, your victim would
expire under the operation. At is by loan that the
object is to be effected! Let us examine the ration
| ale Of this much dreaded process. The government
an adequate and pledges its credit tor the
payment OF the interest. 1t invests the money in
works which yield profit In the shape OF tolls, sufii-
cient to discharge the interest while such excess as
may remain. will go the extingushment of the prin
cipal Here 1t is manifest that the object is attained
without the necessity of taking one cent from the
pockets of the people, The money is borrowed from
those who lend it as marketable commodity 1t is
expended in the making of road, which confers
valuable benefit on those who use it, and for which
they able and willing to pay the interest the
exl %lditurc 1t is in theory and effect, loan made
by the people of the commonwealth, collectively, to
the citizens of particular section on terms advanta-
geous to both parties The former do not even fur
nish the money! but it Is only transmitted through
their hands. bearing their joint endorsement. In
due time the loan to the State is bv the SIR
plus profits of the work by such funds may be for
tuitousy piacedat their disposal The State thus be-
comes the owner of all the public works within it's bor-
dcrs, free of all tunbrance The price, at which the
accommodation is afforded the different quarters
1 State. be RI
the greatest possible extension and equality of ben
cht. The profits derived from the tolls, will defray
all the expenses OF the government, without the ne
ceSsty OF resortlDg to taxation. Those burthcns
! which had hitherto. rested all afkc-rich and
poor-thc thrifty and embarrassed-will then be sup
ported by those who bear them cheerully and volrn
unfairly, and think themselves benefited in doing
1t would seem to me TO be The consummation of good
ipocy-the beau ideal of social happiness, to place
! the government on such basis. Do we want a
cheering proof of its praclicabilty./ Look to New
York. In few years, the tolls her canal, will
have paid off the debt contracted for construction
and will then be abundantly sufficient TO support her
government, forever after. is there any allacy in
this reasoning? There can be none, except on the
E supposion that the money is to be inudicously ap
piled. No man can youch for the unerring wisdom
f and seepess vigilance of all future, successive le
gislatures. Avid and impracticablc schemes, NAV be
attempted, and the public treasure may, again, as
heretofore, be squandered works of extravaganza
and folly But apprehension of this kiad is most
assuredly not just rule of action for wise govern
ment. No one doubts, that there public improve
ments, which would yield the interest on the expep-
dture, and it is such, that the energies of the
State should be exertcd. Far be it from me to re-
commend, profuse and Improbable expenditure
which would load the Commonwealth with debt
beyond its ability to pay, and without an equivalent
benefit. only insist there IRE works which mnv he
safely and advantageously constructed by the State
exclusively, and that he operation by loan is the
most convenient. dread debt, both public and
private, as much any man, but have the less scru
ple IN mourning it, when, remember, that the in
come of the fund for Internal improvements will
furnish ready resource for any mscalculations in
regard to the profits of public works, which the gov
nmcnt. in the fpllacy and kness of human iEdu
ment, may make j If the amount Of tells be fiuctu.
ating, or from any cause of or accident should
be insufficient to pay the interest the loan the in
come OF the fund.- rthe fund tsefmay be resorted to-
If there be surplus tolls redeem the PRINCIPAL
of the loan the income of this fund, will furnish
smiling fund for the purpose But few governments
/ are so fortunate to have such fund-In general
can only be procured, by anticipating the ordinary
revenue, and increasing the taxes beyond the i'm
mediate necessities of the State. But Sc
RES OF accidental and fortuitous circumstances
have raised up for us fund of more than two mil
| lions, yielding annual income of more than one
hundred thousand dollars, which will shortly be freed
i from all lncumbrance and entirely at our control
The ready resources that it furnishes will fully Justify
the government In yenturiDg on the system Which /
advocate.
9f however, gentlemen still think that it would 5c
best TO adhere to the Jolnt-sock system, must in
tItIc is no nope OF obtaining the
road in question that plan. it must be made, if
made at all by the State We are too poor to pay
three-hiths' we have no money to spare, for any
purpose, beyond that ofimmediate subsistence The
people interested IN it, know that is of great general
Importance TO them bat it is reasonable to exncct
PLAIN farmers residing In the Inferior to embark their
little ali in work, the actual and Immediate nrof;,s
OF which they cannot satisfactorily estimate Such
man can Judge OF the benefits deepening road or
ditch through his farm or his neigbborhood but verv
rev can calculate the probable per cenage that NAV
length, stretching large tracts of country and
involving consideration circumstances that in the
nature OF things, can be known only to the expert
eiiota ana caPaclous mind OF the statesman. In
wealthy, commercial communities, where there ;s p
toating uninvested capital, and men are accustomed
to hazardous speculation, there may be found those
who are willing to emba rk i'll such enterprise Bat
In the interior, back country. 1T is impossible Even
under the most favorable circumstances, it is with