Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-01-08
I2G.ss8 90


Leaving balance, if the entire amount of
the estimated James River tolls be includ-
Now, the whole difficulty Mr. Med continued in nc.
containing the amount of the fund" for Io5-G which
should be looked to for expenditure lay in the DISPOSE
uon winch was necessary which should be adiudoed
Tor the James River tolls If the James River and
hanawha Company should be organized upon the plan
now contemplated, in that case the tolls assumed ST
$4OUUO would be joint stock; half OF which would
go to the State and the other half to the several Other
members OF the company. Instead therefore, of the
FUND being entitled TO the whole surplus tolls est-
mated at $4o0OO, 1t could claim but the onehnlf or
$2OOOO whereby uie receipts of the fund would be re-
duced TO Sl3347 80, and would exceed the charges by
no more than O4o9 80. This, upon the organization
OF the James River and Kanawha Company and upon
the supPoston that the surplus tolls would rise to the
amount assumed is the whole balance in the Fund i,
the year 1886 that could be relied upon H,,t ooLt
even thus to be relied upon component part of fine
lund IT is true. that under existing laws the surplus
Tolls constitute part of the fund and like other means
are MADE applicable TO its general objects but If the
James River and Kanawha Company goes into effect
Wy should not these tolls be specially applied pay
e interest ON the State subscription to that Company
Inc State, beside her works which were transferred 10
mat Company at a million of dollars, has subscribed TO
IL the further sum, in money, of 81 500 GOO some nor
ton of which, if the Company be Organized will in
all probability lac called for in 1886 In tls case
II Is surely questionable, whether it would not be bet
tcr 10 reserve the James River tolls to pay the in
terest on tic James River subscription than TO make
any other use OF them IL the tolls arc withheld from
tins special and natural destination and thrown into the
Iunu hat they may be drawn upon for other and rene
raj Objects thcn is evident that some other money nist
take thciT place There is no economy then. in the
OPtIauo II only changes the object which has To- be nro-
yded Tor from the treasury or by tax I,v rcservin
e state share OF the tolls in 1886 10 paw the Interest
Wcb may be required the States subscriptio 10 tI
James river and Kanawha Company there will he a do
hciehcy IN the fund for Internal Improvement in that
year OF $i3546 20 BY making it part of that fund
there will be- the balance in its favor ofsx thousand aor
hundred dollars already stated and The interest rcoed
on INC state subscription will have to be made mn from
some oiner chest In either view of the case il is a
Pic tat ihe ability OF the fund.- at best is quite ncon.
siderable ana That without the James River Tolls which
may OF may not be given 20 it, it is quite exhausted If
gwen and the James River aud Kana,yba Companv or
cameo tnen the Treasury must substitute the tolls
TT lncD SAID, that at present. the State paid 10 the
oiu james River Company, out Of the tolls an ounn;f
OF 81 OOO, and that might be worth While TO ena
WnclhcT or not upon the completion of the nov, to,,
Pay, which a. charged with this annuity bv lie sr
onchab OF IT. or $4,000, would not result to the State
as free and available sum If so fbe disnoeoli Ls
lance already stated would be raised 10 sixieep LJ
some hundred doars~ But whether this result yould
arise or not nc was ndisposcd to lensafe upon .f
annuity, otherwise than by removing Il altopeber from
.le company ~ was heavy, if not dead weight
which was not, at least in full amount Originally in
tended to be imposed by the charter And even yet IL
mght DC found necessary expcdent 10 carry ont The
'' intentions Of the charter in this respect and ALLOW
incumbrancc ~ 'N'eSsi'o
The gentleman from Petersburg Is mistaken in hi;
We" OF le profit which the Commonwealth has derived
rom her investment in the Petersburg Rail Road When
~ f.Pesehs at $4,000. lie says that the State oays
G4UuU Of annual interest on that in vesfp,c,t 81 49,. p
ceiycd back in dividends certificate Of Co,,,s ~,
Dcang per cent interest," and payable in fsfO canal IN
We sum OF SiOOUO per annum. Mr.. Med said trafLo
would present TO the gentleman, correction Of his
This charge Of s9l 900 is first to b. paid from tho ,o 49,
top,nyi before any dividends declared a. ssi %
ss ie fiao pays talj ihe ohor larins dc n 81 ,