Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-01-03
Iridoy. .~Iosunyuo p.

Nn motion 81 Mr.. Wilson. OF BototCurt.
The House adjourned.
Irday. JoRuaru
n message was received fran The Senate stat mn th,t tho,
have passed the bills Establishing ferry acr,a the Ohio
river IN Wood County To the opposite shorr-to i,cor.
poraie The Wheeling Mechanics institutes reneal The
FIRST and second sections of the ACT Of MARCH,. is3f CON.
corning wooden buildings in the town of portsmoutb
ana 10 incorporate the Cumberland Manufacturing Com.
pany. lhey nave also passed bills-to increase the Capi-
tai stock and power 10 hold real estate. of the Buckinu-
nam Iron Manufacturing Company; and to incorporate
the Blue Sulphur Springs Company, with amendments
which Were agreed to by the Honsc.
On molten of MIR. Vance the Committee Of Conr.s OF
justice was instructed to inquire into the expedicncv of
50 amending the law concerning the opening of roads as
to define with more certainty the rules ofasscssing cost
In cases of writs of ad guod dananm.
On motion of Mr.. Sherard, the Committee of Courts
OF Justice was instructed TO inquire into the cxpcdiencv
OF more eHectually providing by law fer the surety Of
yoiiois VINO may be required 10 deliver up runaway slaves
neiore they ascertain the amount of the reward offered
Tor their apprehension.
On motion of MIR. Summers. the Committee of Courts
oil Justice was instructed To inquire into the cxpcdiencv
General Court. 'e
On motion of Mr.. Broadus. it was
Resofred, That this House will, on "Wednesday ,Ath
INST, by POINT vote with the Senate, proceed to the elec.
ton OF a Brigadier.G General for the first Brigade of tle
second Division, TO supply the vacancy accustomed hv
the resignation of Lawrence n. Dadc.
ne engrossed bill To incorporate Booker's Gold Mine
Company, was read u third time and passed.
Petitions were presented and refrred-Bv Mr. Rur-
ton, of citizens of Campbell. for a separate election NJ
Flat Creek Meeting Housc-by Mr.. Hord; of Carter Be
"hJ ~ ~ NV ron II forfeiture oil certain lunU9 FIR
noh-Rayiient oi taxes, incurred by an erroneous under
standing Of the law-by MIR. Alexander. of citizcns Of
Monroe, Giles and Fayette, demonstrating against the
iCrn'au'n OF Il new county cut of parts Of those counties.
nIcHMoND AND FREDERIcEsBURa RAIL-RoAD.
On motion Of Mr.. Johnson Of r., the bill to authorize
The Boad OF Public Works. TO subscribe on behalf of the
State, TO the Stock Of the Richmond, sbur0 and
Iotonac Railroad Company, was taken up and read a
second time.
On motion of Mr.. Colston. the bill was amended ln,
adding a proviso, that the Commonwealth shall not be-
called on for more than $i25,00O, during the year 1895,
nor more than $l25,OOO. during the year 1896.
MIR. Johnson Of r. said, it was not for him 10 ant;c;.
pate the objections which might be made to this hin F.:
and he should not, therefore, detain the House long with
the remarks he now proposed to make in favor of mr.
dering it to be cnGrossed for 4 third reading A.,
the time when this bill first came before the Uouse -
was stated that three-iiths of the stock had not been
subscribed. The company then anticipated that the
stock would soon be made up, and they had not been dis.
appointed. lie had il in his power now To stale. ,bo,
the tree-tiths had hcen subscribed, and that he had
received tins morning, a certificate of that fact from the
Secretary. The question which is now presented to he
House IS, whether this company, having complied with
the rcquisluols OF the law in relation TO Joint stock inn.
Provencnts, shall receive the aid Of the Commonwealth
OF Virginia, which is usual in all similar cases. What Oh
Jections may be made 10 this subscription he had already
said IT was not for him TO anticipate. The find E5r
Internal Improvement was created for the purpose oc
aiding ali useful works, aud IT had for years contributed
To improvements n cvery part of The State. where they
were shcwi to be founded upon the public utility and
convenience. Formerly the subscriptions from thni Iund
had been paid out of the profits arising from the fund
ana MT. } was not prepared to say that this early policy
ought ever TO have been departed from. That WA not
now the question:; because that policy had been changed
ior some years, and the present system ofohtainiuG loons
the interest to be paid by the fund for internal Improve.
Tent, had long received the sanction of the General
Assembly. lie found that i'm n number of nets nm
thorizing the States subscription to inport,nt yorks
provisions had been made for loans, the interest To he
chargeable on that fund. He could turn 4, Inc nc,s 80
corning Inc Petersburg Rail Road. the Portsmouth and
Roanoke Rail Road the Winchester and Potomac R,il.
Road and the North Western Road. He turned to all these.
and he might, he believed, to many others. and be found
that IN each case loans had been authorized. the interes,
only to be paid outo the fund. Good or bad. propcr or
improper. tins policy had been adopted, and had been adj
hcred to for several years. If il is now Ia be abandcncd.
1t the principle upon which the aid of the State is Ia he
extended 10 Internal improvements is TO be changed be.
cause ii Is unwise, MIR. J. thought the change ought
to operate on those companies alone which werc
formed after the determination of the Legislature 20
chnnge their policy, should have been made known Tie
cli'rier OF The hichinondand Potomac Company was grant
ca during the last session, following directly in the steps of
other similar Projects-it was applied for at u time when
inc Company had ll! reason 10 believe that they would
u ue"teu IN Inc same manner as those who had gone
before them. The capital ofthis Company has been sinh
scriGed, and under somewhat peculiar circumstances. as
large portion oi Inc stock had bccn taken by others than
citizens of the State. This was not usual will, regard TO
Joint-stock companicsi in Virginia; but This project was so
well thought Of, as To induce capitalists In ether States
TO become stockholders to n large amount. Ii would be
exceedingly unfortunate, if this very work were 10 bc
the one to which a change in our policy should be aonl;ed
The effects of refusing to this company, that kind of aid
which had been granted to so many others. would be re-
nerally injurious to the interests of the State. MIR. j.
should fear the consequences, not as regarding this work
aiohe, nut Is 'hey would affect other projects which
might hereafter be brought forward. Such a chance Of
WHIT lhu DceH considered the settled policy Of the State
would shake the confidence Of capitalists in the stability
OF Virginia legislation. lie hoped. therefore. if There
were no insuperablc obstacles TO the passage fills hill
that tins company would not lie denied tic aid of the
commonwealth. Could there be any objections offered
TO the work itself? lie was not accustomed TO mike
calculations IN regard 10 tie probable productiveness of
such works; but hc believed it was capable Of the clcarcs t
demonstration, that if there was a work in the country
winch would be decidedly profitable, and which would re-
1und all the money expended ON IL, il was this. The sin0le
TACT, that Il large portion Of the stock had been subscribed
hy individuals who had no interest in the welfare of this
Slatc-by capitalists, who were accustomed 10 look
around with care, and scrutinize closely the proepects of
n profitable return, before they could lie induced 10 ip.
vest their funds, ought To bc the best evidence OF
the productivencss of the work. And, although the
iund Tor internal improvement, was not crcaicd fr
The purpose OF spcculuiCn-althoumh il was establish
cd on a more liberal and generous principle
yet, surely, II was an additional recommendation 10
Il work, That il would return a profit to the State upon
The amount invested. 1t is an important consideration,
because, upon the profits Of these works the ability oftI&
State 81 aid other plans of Improvement, mnst i'm a mes-
sure depend. In this point Of Wow, no work i'm the State
has a stronger recommendation than this. Il may
he s1id, II such are the prospects of profit from
this work, why do not The Northern Capitalists
come forward and take the remainder Of the stock
10 tils he would reply, that the policy of Virrinia wa.
well known to the stockholders; and they had doubtless
taken stock with a perfect understanding of that policy,
and entertaining no doubts that it would remain Tie same
IN regard to thus as 10 other similar companies. II then,
in this case. you change your policy-f YOU refuse 20
make the subscription By the State, you shake the faith
oil capitalists, and inevitably destroy the prospects OF
the company. ~ would De in vain 60 20 10 these
men, alter thc State had refused to grant to The com.
pany the aid given 10 all others, aud ask them t.
take mp thc remaining stock. II would be in vain "a
represent TO them the company's prospects Of success
They would tell ~ that they had doubts-ihal they
lived at a distance from fhe work, and could not Judge