Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1833-05-24
DOMESTIC.
ENLARGED VIEWS

I''N"" D"".n "Po'' VI may ioJ
JAMES RIVER AND KANAwHA IM~PRov EMENT.-
On Monday the 9th Of this month, the important question,
whether the Banks Of this State shall subscribe half A
million each, TO the stock of the James and Kanawha
Company, on condition OF an increase of their capital, re-
specuve'y in a like smonn,, is to be decided.
From the tenor OF remarks which | have lately seen
IN the IL. Enquirer-wlich | regret not TO have before
mel am led TO infer that hostility TO the project is ma.
infested, particularly by the stockholders OF the Banks. i'm
the Roanoke country, in Norfolk, and in PETERSBURG. Wbv
should the Roanoke country, Norfolk, or Petersburg in
du'ge feelings OF hostility towards the improvement OF the
great Central line OF communication through the State
Can that green-eyed monster, jealousy, see any scheme of
improvement, which the wit, or the wisdom of man
can devise, ior NE heneht OF any quarter OF the
State, other than that in which il is located, with
even a spirit OF liberation /! Is it not conceded on all
hands, that the successful execution of that great
work, will impart permanent, and almost incalcula-
bio benefits to the whole State Has not the importance
ot that work been zealously urged upon the Legislature
and the people, by our most talented and patriotic sons, for
;he last sixteen years. Its advantages to Petersburg may
only be incidental. But to Lynchburg, Richmond and
Norfolk, they can scarcely be over estimated. IL will con.
else on earth can do. to the prosperity OF Norfolk. IL we
have a seaport at all, II must be Norfolk. 1t is folly for
Richmond to compete for that advantage. 1t is already
decided by the fiat. OF him whose DEGREES are irreversabIe
The natural advantages of Richmond on the other hand
are so eminent in such a variety Of respects, that she ought
not to repine: Richmond may be the Albany-let Norfolk
become the New York oil Virginia. Norfolk should libe.
rally patronize the improvements OF the State every where
for all experience teaches that as we Augment the channels
OF commercial communication, their tendency to conceu.
trdte trade, at the point enjoying the greatest facilities tor
efecting exchanges between the foreign and the domestic
trade, is as natural, as that water should seek its own level.
But IN reference TO the Roanoke Country, is it polite,
or just, requiring as 1t obviously does, such important aids
for the construction OF works identified with is prosperity,
that it should oppose Unfortunately, all plans of i'm.
provement 10 every quarter OF tho commonwealth? 1
mention ii only as a matter of regret, and with no feeling
OF disrespect 10 them, but the fact is, that generally speak
ing, the delegation OF the Roanoke, opposed the Peters.
burg Kali Road improvement-the James and Kanawha
Improvement, and OF course, TO be consistent, opposed the
Portsmouth and Roanoke Rail Rail Road, identified a.
probably every one OF them thought it was the interest o.
their constituents.
The James and Ksnawha Improvement is now placed
on the JOINT stock basis. 1t has been diuOrced from IL
connection with the State Treasury. Ii must stand or fall
like other similar works, on is own merits. individuals
must contribute three hhhs OF its capital, before the
State can be called upon for two-inhs, the ainoun
OF its subscription. what, then, is the question t
be decided? II appears 10 be this. win the subscrip
ton to tho James River Company Stock, be a good
Investment! L think there is no doubt OF ii. Undel
the sagaciOus eye OF individuals the work will be skill
fully and economically executed. when finished, /
viii, as every body admits, greatly augment the trade o
the state, and consequently the business and profits OF the
Banks. The standing dcposites, OF tho Company, in the
Banks, from the moment of It's organization must be con.
siderable, and every body knows that a standing deposite
IL almost equal IN its prcfiS, to the stockholders, to a like
amount OF Capital. The u. States Bank is likely to gC
down. That circumstance would Of itself, give rise to tn,
necessity OF augmeuting the capital of the existing Banks
or the creation OF new Banks. Should the stockholders o
the existing Banks refuse TO take the stock, do they no
ioresee that a new Bank will he chartered. upon condi
ton OF taking il, by way of Bonus. In thst case, il il no
certsin that the funds of the State will be withdrawn from
the present Banks, and deposited in the ney Bank! But
is urged that the charters Of the Banks did not con
template a dealing in stocks. Can one of them al leas
deny that II has, whether in violation Of the charter or not
dealt, and atlagely, aud ~proitably too, in stock' lii
cruel, II rs alleged to wido~S and Orphans, whose all is iD
vested ~ Bank stock, 70 force them, for i. il gratuiiousl,
called forcing them, to take stock in the James and X aDawb
Company. Now, TO answer this allegation let US for a momen
look back at the course pursued by the State, in reference 4
her Banking policy Was II, does any one suppose, III
pit(tH Bonus which size WAS 10 receive from lie Siock
holders, that induced her to grant Them the extrsordioar
privileges they have for so many years enjoyed, and iha
induced the State to adopt the Banking systeml Surel
not IL was a defensive policy, adopted to protect the cit
zens from the effects Of the spurious currency poured inf
this, from the Banksof other States, over which we had n
control, planted around our borders. The Stoekholders r.
member to forget, too, dbat fr little or nothing by way
Bonus, each Back Charter has been renewed. For 3 ION