Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1830-12-07

's'oi suoscrip'ioh,) To $500 per share; but. IN
consequence CT the prosecution, which showed the
wi' ana ~" power OF the Legislature to annul their
en"i'er, or compel them perform the stipulatons
t"ey mag entered into. the stock fell back little
"oIe than the original subscriptions 200 per share
ny the terms OF the purchase the State a>sured
10 the siockho!ders, dividend of 10 per cent per
ahhum upon the original value of the stock, uni il
tue year 1862 ana 10 pc. cent forever afterwards.
In consequence OF which, the price rose again to
$500 has since increased 10 $780, and Will no doubt
go beyond that as the period approaches when the
dividend shall be at lis highest point
The same act of the Legislature By which this
bargain WAS concluded, for the purchase of the char
ter OF the James River Company, when ratified bv
the assent of the Company, sect. 9, directs 'That
IN the event of the assent of the said Company as
aforesaid, The said Company shall during he present
year far their funds heI einaer provided for
shall enable them and whou, delay, proceed to the
eX cuton, aud steadily pcrsevere to The couple o,
OF the following works. and tho following order.
that is to say: Eirsi, render the Great ana W a
from the great falls thereof TO the OHIO river nuvI
gable at al! seasons of the year. for boats drawing
lhree :ce water according to the plan Of the Priu-
c,Pai Engineer IN his report to the Board of Public
W"rks, made III January, 1920. Secondly to- I'M
prove tie navigation of James river from tide water
to Peasants island, by locks and naviuablr canais
aiofuns nj an seasons OF the year, at least three
feet depth OF water from Underwater to SAID island
ana 20 as to navigate conveniently. bra,s carrying
one Thousand bushels of coal, at all points below
tue hisAest point at'whch coal lands on James river
are k'own and above such coal lands, by canal
wide at bottom having not less than three feet depth
OF water at all seasons OF the wear in every part
thereof according to the report of the Principal En-
gineer: and make safe, and convenient c2@Inunlca-
lions from the river at such point or pait#R as will
Afford ample accommodation to the coqit Gde Thirdly
to make ihe best road practicable at an cxpensc Of
100000, from the m nth of Dun APIS creek to the
great falls OF the Great kCnawha river &c Fourth
y. make navgable canals and locks from Plssan,.s
island to Dnnlaps creek And filthy, 70 make safe
and convenient communications from the river at
such poins as VIII afford accommodation the trade
on the river Sessions Acts. p. 40 and 4N
The order IN which the different seclIo - were %
be executed leaves no doubt to the objects and
calculations ofthe Legislature; first 10 accommodate
the sal trade on Kanawha, which it was calcrated
would produce to the Company in tolls $50 COO nar
annum. And next the coal trade, which 1t was cal
cnated would produce 100000 per aDnun With
these resources, doubt was entertained that he
Whole Inprovenenf would b. effected, BY the impulse
which tlese fruitful sources OF reyenuc would afford
with the aid which might be looked for fen, the
imposition of further tolls which would be jus. fled
by the new facilities the trade as tie improve
ment should progress up the river.
But the James river urnsefijivrs fearjDr that
these expectations might be Disappointed and the
people they represented might De burtEscncd with
additional tolls before they derived any benefit from
the Improvement exacteda pledge which was gwen
in the following section, inserted at the motion OF
Charles Yancey, Esq. of Buckingham
Sect 8'h And the Gene al Assembly hereby
pledge themselves that as the works aforesaid OF
N
these rVers shall progress, and shall cont ribute ID
reduce the expense Of transp ,ration, ND and down
the SAID rivers canals, below The average price :,
transportation, upon The said vers as thew have hee1
Tor Tn" three years last past they wall authorise he
sald company To receive tolls thereon III convenient
sections TO the necessary, vii their nfho
resources specified IN this las applicable TO the
payment OF interest on money borrowed by them
for IN" payment OF the interest money experde,
IN snch work. PrOuiaed, That such additional toll
shall not exceed one third OF the SAVING in ransoor
taon up and Gown the said rivers, winch viii accrue
thcreoy, TO those who use the said improvement 8
taking the average price TRANSFORMATION for three
years 'aSt past as TIN" basis of their estimates
| Secf. 9h And be it enacted, that fourteen Com.
msS'oners De appointed, residing in the counties
bordering on the James river, and Jacssons river
fo the purpose OF ascertaInDg the AVERAGE price of
transportation of the various commodities liable TO
oils, according 10 the terms of the charter of the
James River Company and all other commodities
up and down The said rivers, fof three years last
past, that is 10 say. Daniel Warwick of the ctv ,f
Richmond &c. &c
Notwithstanding this solemn pledge in io25. the
Legislature, after making all the cnacmenfs which
have been cited without ever strikinp ono stro,.
towards the Improvement of the navigation from Mai
d"1s Adventure to LynChburg. which embrace ucor
ly the Whole tobacco district laid on 40 ner cent nm
on the Toll on 'obscco over and above that which.
even under their Viola ed charter they had INV nm
thority to demand Instead of annulline the char
ter, as they were about to do in the hands or ndi
vlduals. tor rot performing those duties without
which they could not legally exercise that athori--
power OF the Legislature IS employed to wrest
from the hands OF industry portion ofts labour.
without any equivalent. The honest hard-workiur
planter after toIing for the support of his family IS
MADE to yield up share Of the fruits of his labour
WITHOUT any semblance of benefit For after cncoun
tcrng all the difficulties which the raiusol stream
opposes to his progress, between Iynchburc and
MaIdens Adventure, with four hogsboads of tobacco,
which is aIlhe eau carry in dry seasous he is told
that he cannot go to Rlrhtaoud without navino 40
thp fp;i all A.
viz 3s Sd upon Is. 6d ii asks why? have only used
! the natural stream WHICH God gave me The only
! answer the Government has bought the charter.
and yon have appeal.
Tire 10th section Of the act, distinctly acknow--
lodges the charter the authority under which the
! Legislature claims the right Of collecting tolls aud
continues us operation under the same james River
Company Holding aS agent III trust. far The bene
M nj he Commonwealth" And as if 10 leave no
doubt Of the understanding Of the tenure by which
holds limits the point 10 which IT IS 10 keep he bed