Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1833-06-03
LYNCHBUKGYJUsE 3. 1888.

i
JAMES RIVER IaIpROVEMENr-.l
The long agony is over--the war of l.igh-.qd
ling words is at end--'rho Banks have rcro..4
to subscribe To the stock OF the james Rive ann.
hanavha Company and Virginia again repos.s
IN the arms of her "lcgtaa,c' .Siott! set .s..
hostility, narro" and contracted VIEWS oil pohsy
personal feeling, aad a mistaken estimate o- .e.fz
interest," have all eonspirsJ 20 driea' one Of.
most important schemes OF internal improvement
projected 10y the vii Gilman. For ta,s 3D.,
presume, We are mainly indebted the Oh, =,
slon OF Nj b. w I.eigh--anl TINS prcsuupt.e,
is founded Oh the fact ihat up to the day appointed
ior the meeting of the stockholders, not the sllsb
test doubt seemed TO be entertain ed thai the coaee
plated subscription would be made. BY what NJ
guhehts that gentleman changed the current Of rub.
! lie opinion, We have not heard but we are Il,
well acquainted with ms ingenuity NOT to be vel
aware OF his ability to ruff mole hills into noun
t"Ins. when II suits his purposes, us attorney,
50 10 do lis opposition, however, might have
been anticipated, from ais Petersburg and Roanoke
attachments, which his residence III Richmond
had lot power to weaken.
But it is useless to cry spilled milk" IAu
question now IS, eau any dang ,aofe be dorr ?
And If there is yet any nope let, upon what 10 il.
based
Il Is quite ceitan, ". nagin ihai we have no4s.
nothing 10 expect from foreign capitalists Rciue-
iont to embark their funds in this scheme hereto.
lore, that reluctance will naturally be increased by
the refusal of the Banks to subscribe to the stock
ofthc Company because, unncqunoted with the
grounds OF that refusal, they will naturally attri-
bate il to want OF conf icnce IN the foa.,bAy Of
the scheme i'selt, 10 apprehension, that esen
will not be II profitable oiie.
Within the State, we fear, there is nothing 10
hape from individual subscriptions. Tho eTef-
tons heretofore n.nte, though probably not usex-
lcnsiyu as Jealous or as wcll-drectcl as they
might have bsen, have We, demonstrated that
suthsiency Of private capital Cannot NC brought III
reluis,,oa in those section, Of the Com nonwssIth
directly Interested IN the improvement, while from
other paris Of n, State, have po,Ainy 10 expcst
but chilling indifference or active hostility.
From the Stale Treasury, We canno, expect
greater aid 'haa ha, already been gwen in its or!-
saal subscription to the stock.
The,e is, thea, but other plan that has yet
suggested itself to our minds. ard We men.
lion ii With great ditti ieuce. !, is 10 charter u
NEW STATE RANK, with copsl winch
shat be- exempted from III. payment of the ususl
BONDS, upon condition that il subscglbes r,..lon
OF dollars to the stock Of the James River and ha-
navha Company. Believing us We 10, thar the
stock of this institution would soon be the
valuable III the country, ~e have no qse SBou that
II would be taken with unprecedented rapidly
/ w c opa>~cJ 90 the unnestss, y multiplication
OF Banks bat .nch Bank that which ".
suggest aolid commend itself To thc judgment Vi
Tie community. by the fici. that, while It's estab
lishment would confer nslIns benefit the STATE
1t would its-f have st,ong security for its safety
in It's idcnt hcassn with tins great scheme oflmr
provcment. And besides, its capital might be
made SO large at t,s, or, If that should be deemed
inexpedient, i, might, at the proper time, be ln
creased suai ,cntly To rem Ter renewal Of the
charters Of The present Banks unnecessary.
POSTSCRIPT
Since the above remarks, based upon the author
lty of letters from Richmond, were preparca 70,
the press we have rcc,lved the papers that plac.
which give somewhat different aspect to he
matter. Wecopy the follow ing from the I,mes
oftle 3lsl
THE BANK SUBSCRiPrION
! The Bank OF Virginia has agreed to the tcrns
offered BY tie act olthe las, Legislature, in relation
! 10 Ih~ nnes River and hanawhu impo,c,- Mt
and;he afnicgs Bank has declined 10 accept oithe
terms. In The former the vote vas $3.50 jor and
! lol a-anst II. In The latter about t000 }r fr9
800 against t-the entire vote $500 not BEN.
MAJ 'rty OF the whole number OF votes, the
SCI piion, oil ceusc failed. The vote H. ,he Bank
! OF Virginia IS also considered as inpaIyin. some
d'tlcaity. MIR. Leigh, who opposed the suhscHp-
ton, beng Of one opinion, and Chief Justice Mar
shall and Nh c. johnson of ano,her "Mho
shall decide &c Ii is said that the case will lie
carried up to the Court OF AppealS The dffculns'
arises on tie vote OF The Iteasurer.-Tne act re-
quItIns the concurrence OF majority of ali of the
votes which can Jc .;itcn, the question is whether
the Ircosufer's vote, (being one haN of that
number Is to lie added. As well as under
stand from passing convers ton, thetwO MODES
are follows
First Mode.
! hole number of votes possible, i10j
! One half of this number, 1852
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