Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1831-03-31
DOWMSWI0a
PErERsBURG RAIL ROAD IN.

= NJ PuPVT, CdUIr 70 nauu loo i've 10 De puI
10 type: IL affords, we think, a most satisfactory view
OF TIE ; ATE subscription to the Sock OF The Petersburg
hai'-koad Company
Erhdc 0 a letter from WTHiam n. .AaefarIand
Esq to the Editoys-dat,a
RICHMOND, March "a, 1881.
The Railroad Bill has nnaIly passed the Sonar: and
become a law IL provides ,ha, the Board of Publia
Works shall subscribe for Two ii ths of the Stock
VSloo,OOo) when 'hIee 6ahs have been subscribed,
and either paid % secured TO he paid.-And that the
tuosc,tp,on snail be payable, ia instslments of six thou
shi coiars Annually, tom and after the period when
vac 'hiee-hid S have been p aid and expeudt d.-Givins
an oplon to toe Board to begin the payment at the ear
ne pe'iod: lie sct further provides, hat, in ;hs de-
v"'a'on o dividend, hey shall be distributed between
.he.StHck held by the 5 ate al 9th RS, 80 as 10 do err
"eI l"Shee to the'it rm r and the latter.
ihis act would have been altogether acceptab'e. a
o' ms'a heh's lad been iDcTess, ID to an amount which
~'uu Lave been equal 10 the probable calls OF the
Sv"Pauy' A. 1t is, II is liable to he objection, of pro-
,,Sins It. ms ymsntof the subscription IN sums
wn'eh must iali below the Company's demands. Tbi.
objection 1t was not in the power Of The E. lends of the
bill TO re move.
The claims Of other joint stock compaui.s IAN upus.
shy large number OF which bad been yrev.n,ed1 tn.
eohciuon OF the fund OF Internal Improvement. ami the
p.se sum "nich was a ked TO be inves'ed in the Rail.
iny tn. ",, among me reasons which operated in limit
"s voc payment OF he subscrip' ion. This is the larg
est subscription which has been made bv the State IN
guy JOINT STOCK Company. The act Notwithstanding
which ~. . 70 whi.hit is liable, from the mode in
"neh us subscription is to be paid, is a most impor-
.Sn' one 10 the Company, and must be highly acce p,a.
Je - u lSwn; as Il will secure the success OF an I'M
- '"S" epc Ia VI n I N art
ineIe are two 70 ns of view in which i, , b.
,onsIuefeu mat furnish an abundant cause for congra,u-
.a"On anu he most comfortable assurance. III a 6,s,
ahu mat which most readily presents i,s, Is -
STATE has become a partner in the Command c. ~
no" a Gifect and immediate interest in The success 81
ne UNDRESSING. The meritorious claims of the Con-.
pauy' "Lich 10 us were undispuied and undisnu,ehla
out winch we could not before assure onrsaius au1
oe acknowledged by the Commonwealth she haShu
g J, Of suosc'il ton, confessed s. declared. We NAV
therefore, comfort ourselves with the bons ,ha, may,
me future exigencies of the Companv. TsnJer =. ' -"
eeesary, we Stale w.l emil rge ler ms ailments : ~ 4, %
x any JUST requisidens. This, under such ,ircumO
Ton $3.50 "ou,a oe a course which sound poIicv wou,t
u!ct"te-ADd there i, re ason 10 baI,.ve r., "'u'
more teriod' the improved condition OF the fnnd ~ IL o
wi.hnu, nrp;DInnen'' VIII admit of larger payment
"huou' prejudice TO any confie ting in,sras' a.
so' 'he rea' ois for limiting the instaImsnts vii -
IouSsr exist; and here would be ,hpn no 81 ~ Nv
swms ~ "ymeht ot he State subscI iption in laSoer
~ at;,i ne a"dlrs OF The Company ae managed vim
.e aoi'i'y' which l doubt not tney will he ara -"
=. oe executed in the mode most efficient o,5
streng,h 80 'here WIZ De a constant accession of
s"e"s'" 70 'he cause Of The R,il Road and -
m.uoer, emu especially the s ate, viii he fur, ~
OF the work. '" 'he completion
her aspect; and affords cause of onSrs,mIa,on III 'h'-
,hat or secures TO The Company. 1t is not exnsrtad
tbev go. 'mpapy WIN depend on the iustalmen,s as
n.y come III; hut that Mess will be anticinatsd in 80
1.-Two modes, as shall be found most exnadisn, !" T ~
"otua, cash value OF The subscription, NAV he al.
6ve -, - assuming the interest OF money 10 he
PC e V" winch Is above the rates al rh;.L
iase sum nay be obtained on good secnri,v H. m q
III ,auS OF me subscription IL above mir CIV ,hon.anI
""t u u say, the subsctip inn il !, ~
payment IN cash, OF more than tbs, ~ ~" " Y 10 me
De preferred to 6OrTOLo, the subscription ,uo,I1 aaotIo
ue Conpany 10 obtain on loan a much larger sum. But
VIC question may be asked, whether the Stata w,l
possess an interest equal to her subscriptiop. and ba on
eqIa ioo'ng WIN the other subscribers n go il i.
So ~. - "ouIu acquire a very undue advantage
rom we mode IN which her subscriotion ia IN hs 80
l answer no. The apparent advantage which IN. 81.
enJoys III paying ner subscripi ions, is coun,erbalance
py ~ RUE oy which the profits Of the cor pany is to
Ne oi''I'ou'en' Exact justice being the rnIe in ,bis
particular, as provided by the act, the State vii, h.
eh"ueu 10 participate in The dividends and no, accord.
ins " ne hominai amount of her subscription. 1t fol.
lows, therefore,, that the residue of he subs.riha,.
will participate in the dividends, TO The exc,w.;on :,
me state, un"i he price OF their stock is reduced TO a
levti WIN mar OF the State. Or, which will be The
pane In effect, the STATE will draw onIy n, tbs smonn,
enc has paid in. This is justice between her and her
fellow -par'ners-and the effect OF the rule furni.hss
ano'ner rong indictment to The increase OF her in.
"N Petersburg Int.
THE BOUNDARY.
FURTHER PARTIcULARs.-W upderstapd ,b,,
lel'ers have been received from Holland Will state
ma, me boundary, which the King of Holland has pre.
i h - o.. 10 es.aIl'h lot US, after striking the river St.
S,hn runs up that river to lis cor 6uence with the ST.
ftancis, 'heh up the 81. Francis taking is sonth wet.
eth osa"Sh o Its source, and thence 10 The highlands
onch IL Inc lAe fixed by the aibi'er.
We think there are two grounds on which The In;
tsc states may we'll refuse TO carry This de cision into
eheet. First the arbi,er has not decided he onss,icn
y US PoIIes, ~ ne mas undertaken To es-
tSoiish a ne" oour Diary. For this he had no authority
his authority simply was to decide what was the line
es,aohshed by the parties themselves by the treaty. nj
1883. IL under such a reference he was auiho,iss3 10
make an entirely new boundary, he might have givsn
TO Great Britain Onc-haD the State of Maine bv ibs
same night that be has given One-eighth he misb, as
wen nave taken tie Pen0bScot for our boundary :, ,hs
OF 0ohh IL appears TO us that the de cision il a mere
hu,,i.y' not binding on either Of the par les. IL il a
nuiIlty because II 10 an assumption of power nm The
part oil the arbiter which was not conceded 10 him hv
the parties. "" W
IL Is not binding, as we think, for another reason
mat the kIDg OF Holland, in which quality he made
the decision, 10 not the King Of the WefheyIanJs N
"nom 'he question was referred. In the reference the
pubic and oftlcial character of the arbiter was REGARDED
ana NOT ne private and personal character. IL wa, re-.
ietIeo 10 nun as a sovereign and not as a man. II mav
oe sald' mat ~ his objection could be made at all. n /.
no" 100 late TO make II. The answer is, that The cir
eums'ances OF the case were such, that our govern.
nenI could not well make II before. Such was the "a
putty with which political changes were taking nIace
that II our government had ordered the re feTence 70 -,
"unoIa"n' before the order arrived he nigh, have
been reinstated in his kingdom, "'o
But we have seen il remarked that the d.ci,ion no..
be founded on a defect in The treaty desctiption. a.,
II such be the fact, If the description is go vague and
uncertain that the line cannot be traced. what ia ,bs
consequence! Why surely that no line was establish.
ed by the treaty. II tkat were the fact, the defec,
mus' DC supplied by the parties, by a net treaty.. He
mad no authority to do H.. Further, If from Inc im,sr
ieciions OF the evidence he could not defernioe Inc
line, and This is the most that he could pretend N "a
duty was clear and plain; il was TO call for far he, go;
dence, TO order a survey by his own enVinser. no, 20
decide without evidence, much less to unde2,sLs ~