Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1834-12-18

hereafter, viii b rotnoos To the Board q
Public WORKS. and ssrsossly eppressivsso ths
not bsisG sq1sl to the ia0sdists speooplish-
Dest Of all he great objects h vhsek The
ConDoowsaith wss essessssd sxelusivsly
ssd % the savHaoe0ena, q he saRs si0s, .,
the othsss 10 Which ths DearA q Pus,i<
Works wss interested - . ee-psrtssr visA
individuals. 70 supply sAs Sseeiseey, resort
vss bad % toens- Ihs peyososs Of the 10
pal Of these loans we're eharged, ia The krst
Instance, upoe ths Stock for The bsssAt Of
which the loans hsA bsss s6scssd: bot shoold
THE prove ioss0cisst, he funds Of the Board
OF Public Works were made sshieet 10 these
psyasats, and sAoold deficiency ssill EXIT,
the Treasury itsslf wss made sceosotsbis
for it.
The s,s.p,s Of relying upon loans Tor
The accomplishment Of such public works
being once ct, IVES soon followed In The case
OF works 70 b Constructed % the JOINT charge
Of the State ssd Of iodiv iduais. Large sans
have been borrowed 70 enable the psynsss
Of the subseription Of the CosPorstioe 90
thsss works also. Ths psyoset Of Tho In
tsrest and the FSioboDs9sst of the princi-
pal Of these soans were charged, In like man
Nor. upon the cooperate fssSs. 10 The arst
iassancs' but sAouid these rross isss6cisss,
the Treasury itself. - befors, - made charge
able with any de6cisney.
Thus 10 has haPpsnsd. that While eoo-
adorable portion OF The capital OF this Cor
porstioo hes bssn Invested In stocks abso-
iutsly uoprodoetive, OF very eesrsy 90, the
whole Of tks capital b nov charged with
The payosot Of the intsrsst and reimbvrss-
nent Of the prineipsi Of large debts, and Zoe
which the Treasury tsssif b ultimately liable
A Jet, The income Of the Corporation 10 equal
20 the sstisfaetioo % oil in expenses, sDd %
che Psyuest Of the interest charged upon 10.
% 10 believed also that The capital - suacient
10 disehsrge the principal OF ell these debts.
But should any sddition.l burthsn Be impos-
Cd upon this cosporatioa, ut thn time, &c 10
probable that is means would not suiies 10
meet its engagements. without impsiring this
capital. In that event, IL 10 obvious that, ere
long, the whole weight Of all these engage
meats nust fall upon the Treasury, when 10
preserve the credit OF the State, new and bur
thensoms taxes must b imposed upon the
people.
70 prevent such result, recommend TO
you most earnestly, that no new charge be
imposed upon this corporation, at prevent
10 few years 10 10 expected very confident
ly that al the works 10 which u 10 concerned
snd which ere now In progrsss, viii be CON
pteted. Unless individuals have been great
" deceived in thsir estimates Of the effects OF
these works, the funds Invested in them will
then become productive. The profits Of this
capital, OF its proceeds, will then enable the
easy and speedy Reimbursement Of the
debts with which the Corporation 10 nov
charged. The whole fonds Of the Board will
then become spplicahIs 20 other undestsk-
ings; and the work Of Iptsrusl Improysmsn
nay again proceed with Increasing vigor and
advantage. But n differsnt eoarse 10 pur-
susd. The ruia Of this Corporation may b
the too peo6ab,e Consequence vous tax
alton must follow - the seeessASy eject Of
ia ruin and the WORT Of Iatsrsal Improve
mont will reesivs shock from which Il will
no. rscoves for ioag period.
A . ascal agent, the Beard q Public
works hss been, and snder judicIoes man
agement will coatiaue 70 be, Of great adsaa-
tase TO the Common saith; 90 long o. Its plsus
meet Psolis appreciation, 10 gill call Into use
full sci'oa the aaemployed capital Of isdivid-
aals, making tAis productive 70 - proprietoss,
and beneficial 70 the eo@mua;ty. The very
debts which Il may b compelled % eoolrac,
occasionally, will e6ect eli The bsns6eiai re-
quits. without producing any Of The evils at
tsndaot On . public ds6t-providsd they ere
q the Cooperation, after satisfy Ing its ex psn-
ses. will certainly pay the interest, and lie
capital surely rsinburse the priaeipal But
di6srent course b adopted, this Iastitu-
zion. instead a beiag N useful 6seal agent.
Will b worse thaa useless. 70 win tAea BE-
come positively @isehlsvous, aetinE - q per-
pstnal draia Of The Tseasery saa exAausiiax
its funds, replstsd ofsso, - its eoasrs musi
b, By heavy exsetioes fFO@ the peopls.
Ono Of the great eOrporatioas created Goe
purposes Of internal Improvement, In witch
the COmmOnwoalth b s0w concerned exelu-
sively b I" tie James River c0mpaay." The
origis % THE nest - sought FOE 80 Ear back
% he year 1884. la that year he Genera;
Assembly possed - act, whereby they ~
eospogstsd Compaay endeT this Raaas, With
. capital Of ei00, 600, divided into 500 shares,
Of $500 oOeb, fos the purpose Of eisaFiae and
exLsadlag the Rsvigatioa q James River from
Underwater upwards 70 the Highest psrts psse-
tioaeh on che nais braseh thereof By -
verai othsT acts passed afssTwsras, u was g.
elsrOd, that he highest place pgaesIesble
wtthia he msaalag q The arst sot, vas CFowS
Ferry at he @oash % LooosyS erssk 10 the
eouaty a sOastOart; aoa Ne capital Stock %
The Co@paay waa taereaseA 70 100 Shares
o. thoss shares, The Btae6 became q snbaePi-
be- for aS0, wiih Which he Beard q Fable
Works vss afterwards endowed, a. pAss Of
tts capital, whsn this Isstianstoa was created
ID Isis
Af.sF he wess foT Tie seeoaplL.Anss, q
which this charter wa CREATED, had bsea
eOAplstsA, a. very asariy 80. v Vss thosght
besseeial ~ IL STATE, % baproys The nsvt-
gatbOs 81 Jaaes River bsyosd The highest
poias arss szed, v shs moath of DunIaps
Crsek-to make q eoaysnisat road from
tbsses - The great falls u the Ra0swhA NJ.
YER end 70 make The Last msatioasd river
navigabSs frOm The great falls thsrsof 70 he
river 0hio. Bot - thsts shaFtsr Iapossd 90
Such obliSatIoas spoa The thoa sHisilag Geo.
Paay, v ves nsesssegy - eater isto . Rsv
eOstreet vith u fee tAse psrposs. THIS vas
aooosdlogiy doas, By 90 Get pesss4 10 Rsbru-
az ieS0. OoaeE this sew aet, tho Stats IN
eSTtoo1 y ~, seEtaaecalty. - 49, esosh-
hetdsrs q he ya0es aivsg Compsny, . diyk
Sso4 upen thetr stoeh - ~ pc esaiua Ser
snau1 tsFsVsF teaFssfesP. Ths Stats us5ss-
tooh fngthsF, % carry iato eject tha soassus-
platSd l@proyoasats, b apDgspriaaia9 ,s 80
purpose tAs reqaisits fas4s; sBA IN ssustSs.
Fatioa ~ thsss thinga, The eomDany aaaiznoA
20 H. conaeaveaith, al thsis tolls ard ~
eo@e - svssy kis6.
Tbs stats hsgiag thus ssqalrsA al he 10