Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-04-12

mony-you make them Interested wi,n..ss The
truth Of this has often been too obvious to require more
TO be said here. Jonts,ock compsnes in tho progress
of the work, will have more economy md Ia the
man AK ement and execution. A general rue, IL
must be admitted that the care and attention OF indi.
vituas, will be in proportion 10 their iUdivdual lite
rest.
Again-as TO the important Obi ct Of obtaining fund:
According 10 The principle advocate, IL Ia, ate will
advance two miloo', the sum prcp'.sd TO be raised
by this b H. iod,vdueis viii ra,s' ,hiee Thus he
two niiloi con,rhu,ed BY III, public. Is changed II O
five. invite the ate ion OF eenleu en- 10 ,hi' part
o. he a;sumsn'. Can ATTY msn wto lo,AS forward
aud has ia vew the tereral inptoeempn # IA Sa'e,
say that two miions in the haud. II tub!.c ayrnis
Will do than i've micns ia ihe hands # COM
panics, where three-il,s OF the stock is the property
of individuals! call gentlemen who hold the other
side Of the argument to meet this question fairly and
give II an answer. Again; TO the justice OF cxecu
lug these works in the one way the other. The
principal advantage derived from such works, is local
rhe profit is 10 the land-hoder, and not the stock
holder. So that is only when tire land-holder be
comes stakeholder, that complete Justice be well
attained. Where individuals subscribe, the principal
iand-hoders who are TO be benefited, become the pin
cipal stockholders No, so, when these works
ecuted by tho public funds IL is with this view OF the
subject that the State OF Ohio, where they construct
canal at public expense increases the tax the land
as II approximates the canal Our laws design effect
the same justice in different way. When a company
is formed, and the subscriptions made up il viii be
found that the principal subscribers have local inter-
est, which is not possessed by the communi large
And again will observe ta after the work shall be
executed the tolls can be satisfactorily arranged
and the works better managed by the people in the
vicinity, and who the principal owners and Of
will be the managers; than they can be by the State,
in any other way. And lastly: if object is to do
justice, and improve the whole state, be
effected by the public funds in this way. For, when
the contemplated Improvements shall have been effect
ed in the greater part OF the Sa,e the people will
send representatives from the parts thus improved
levy taxes them for the Improvement of the rest oil
the State. We have already some exp rience as 10
this, even in these our 6orro,cing days What then
will be their conduct when presently will be the day
Of payment We are also taught another thing by ex-
perence Of most unpleasant character that is when
one river is improved by the public funds, il becomes
strong argument against improving another, provd-
ed II tends TO give commerce different direction.
And thus people OF particular section of the State
first taxed 10 make improvements where they are
not interested, and then the work executed becomes
an argument against their making those Improvements
| in which they are Interested.
Will now p oceed to answer soU,e objections ha
are n AIDE TO j9int-'eck companies. IL has been sait
tist the works Of jont-scck companies have be-r
p'ot abe as wo ks executed by the STATE II il as
tcn IL no, Only against the OF the tiUg b.
fore explained, Blu, there il TO, a solitary example il
the State as Ia have beef informed to give coun
| tenance To the assertion.
| fore the year 1919. all the important works in n,
Sta'e, were in the hands Of oint-s;ok companies -
From The uuds not being in proportion 10 The under
'skings, but few Of thee worss have be executed
till short time past. Nest Of them Tow have som,
debts 10 pay, az appears by their returns, and ap
plying their tolls add rens, to ,he discharee OF he
dob =; go that no dividends made. Yet from the
staem nts rendered Of oils and bis, the stock il
many Of The companies will become valuable
| L, should be remarked tina, the principal object q
these companies has been effec ed These works are
valuable 10 the land holder, and TO he unity Ia
gene a.. ahousb, They u:ay yield dividend TO the
stakeholder. This appears TO be The si,ua Ion OF
OF the jCin stock companies-On the other hand VII
has the a.e effected. 10 chow tha, works can De bet
ter done by the public funds! The only experiment
made s The works conducted in the Of the jaime
| River Company. Tbs old james River Company, wa
| D, @ &C wa has
ed up by the State, whsn tie stock admitted I,
| be worth IL rer cent per anruO'. The mani gsmen
has row been in he hands oi GOvernms ten years
According TO the Aud ors statement in my possession
we have expended on James river prop-r 81 ,229 76S
and now the stcck lie worth in the year 1890, SIS
CEN. per anaun. Should we embrace all The publt
works, conducted by the s ate under the app a'ion
James River ConTany, the cost has been 81 556 sol
and the nett proceed lilo per cent Waist, for ID
money lortowed 10 execute this work, are payIn,
about per cent. leaving d il OF $50 S6i Tor III,
year 1880; ahd should make the losn promo
sed, and expend sDolhtr million OF dollsrs I tLuk
Judging ot The future from the past that The nett pro
ceeds VIII no. reach even per cent. Cau gen,lemer
show wb'r public work has been conducted by III,
) ate with prcti and economy. l know not one. |
we admit sei-nierest to be ono OF the most ooEmor
prif clples that Influence the conduct OF men il
rea enable to expect, tina; public agents viii conduct
public work, wi the same economy, as though
were under The Management OF men, interested in th
ptoht aud success OF the ehterp,iZe nd fair state
ment OF cur public expenditures, will exhibit diff
en result. Ii hiss again been made all objection % tn
rule oil 20 and 3d. tba, improve spts require,
in come parts OF the State where local Circumstance
'nder this rule imprdcteabs from the povery If
country Whatever may be the force OF his rena,
in iavorr OF some exec p,ions To tn general rule
have 10 applicant TO most Of the ks proposed TO b
provided for IN this bill.
Having enumerated many advantages Of execuin
the various Improvements OF the country by ointstoc
companies in the manner proposed by the existing law
might proceed to point out the evils which have al
tended, and will still be nseperablc from our attempt
TO execute them by the public funds alone, but if W
can derive no profitable lesson from ten years expert
ence, In our attempts to execute such works of the
vernmeni-f our difficulties in legislation this sub
jec;, cannot be taken admonions against this mod
OF proceedings then any thing which could say, woul
be unavang. There cases, Mr.. Speaker, in whic
evils OF particular character must be left work the
own cure and should we, after the experience hav
had, proceed with public works, in the name
proposed by this BILL think this will be found TO
one OF those cases
| an HlTE MARSH FOR SALE.-The Subscribe
w is authorised by the heirs and distributes o
Mary Nj. p. G. Rooes decd TO make sale of that valu
able estate in the county of Gloucester and state Of Vii
gina, called WHITE MARSH, supposed to contai
/ w of xvhic frst