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

nerly. How then are induce nonicd men TO invest
their funds in these works Surely not by raising up rival
companies, and contributing antagonist
SO as to diminish, n destroy profits oil each An
impression prevailed in this House and elsewhere, to
some extent. at the last session, that the policy of our
legislation hadbcc luxurious some improvements by
inc establishment of Others to compete with aud iniure
uem IL was not now proper To discuss that qucaiion
which had formerly been fully considered But such
an impression existed the time Of applyinr for the
charter OF this company and it this sentiment
whch induced the company ask that no rival road
should be authorised along the line for thirty years
IL was necessary provision to induce capitalists sub
scribe to the stock which they would have done had
,ncre oeen no guaranty that whenever their rail road
became profitable, their income should be DESTROYED
py ,he construction of like improvement by the side of
us Some assurance of advantage be held out 10
men OF capital or they will not invest their money in
these works And if the extensions of such privileges
Is To be opposed and denied it would be- but Justice To- o
pack to The policy which existed between 1916 aud
1873, when the State claimed no profit until private
stockholders had realized per cent
The privilege granted this company, is but modified
PrWege-yet gentlemen choose to give it the odious
name OF monopoly. The attainment of public objects
oy granting exclusive privileges to of capital and
enteIP5ize, was not new in our history If gentlemen
would look back to the time previous TO the establish
ent OF the FUND tor Internal Improvement they would
hno iat exclusive privileges unrequcntiy gi-
ven to individuals we'll as companies for public oh
eGs In the last century it would be found that when
'ohi ltoones established in 7S7 line of mail s,aes
on THIS, very route from Richmond TO FREDERICKSBURG
INC legislature passed an act pledgng itself allow
any other person TO run mail coaches that line and
was monopoly, but il given in order that dcsira
Die public object should be effected
MT Brown wished it to be understood that he was not
III anvocae OF monopocs But lac cited this to
snow the anxiety which the Legislature then xhbi,nd
- upee capitalists to engage i'm works of public
- anu vohvenience-an anxiety which ought still to be
ieit by the General Assembly lie trusted therefore no
more would be said on the subject of monopoly; but
mat the House would to the question unnrc;u.
aced and decide the grounds of the merits az Tho
Improvement and whether the State has now the means
OIL subscribing TO the stock of this company
SoffL al
REMARKS OF the gentleman from Richmond, yesterday
must be convinced of the great benefits which it will
Conier on the community But, the gentleman from Will
nasDurg endeavors to invaidate that idea by drawing
distinction between road for the use and
OF the planter and one intended to accommodate travel
iers alone lie endeavors to show that what will ac
commodate one class, will not another and that an
Improvement for travelling will in no way facilitate
inc transporting oil produce and merchandise Much
had been heard of late of the diversity of interest
between the agricultural and mcrcanile classes. bnt
nc Di ig, they were most intimately connected
inu Imagine one could neither be benefited nor in
Jured without producing corresponding effects upon
the other. The most common observer must be
aware OF this Was it possible TO enable the MGR
chant to transport his goods cheaper without benefit
uhg the planter by enabling him to purchase them
I lower raie IN proportions 1t seemed to be the idea
OF the gentleman that the people of the would de-
rive no benefit from road constructed for the transnor
tat,op OF raveershot they would see the cars
and hear the noise of the machinery-bu that was MI
Inns idea was entirely allacous If the construction
oil the road were alone considered tle solid benefit
received by the State would be important. The labor
must be performed-the materials must be purcbnsed-
ana the iaborers supported within the Stale In fact
me gross amount of the cost ofthe Improvement must be
auded 10 te circulation, and stimulate industry and en-
Inc income ofthe road also after has gone into
operation, will be circulated in the State Besides in
ue progress oil all great works like this new branches of
labor arise and addte the means of employment for the
industrious 1t is well known that in the adopon of
an iabor-savng machinery although at first there might
he some individual privation they had the Intimate
tendency to increase the divisions of labor Thus i'm tho
adoption OF the power looms England many were AZ
hrst thrown out OF business but this Inconvenience was
1THl
individuals deprived of labor by the Introduction of ma
chneS were found engagedH making thatyery naehioe
~. Dut the direct benefits of this road seeInai IN Mr. II
to be beyond question Did any one doubt that alI The
tVet weh now passes round this State by steam boats
on Ine chesapeake, or by packets along the coast
'uid DC drawn through Virginia, rich depoSite would
be lett among u.s. AS to the advantages of such
mentS In the time of war, they had been touched mon
by the gentleman from Richmond and Mr. n ala no.
remarks. e-'''''"'i >
Having thus, he trusted, shewn that this compan,
was IN every way deserving of the Commonwealth aid
tnat ther Improvement was important one and thai
they had subscribed the threehs necessary 10 entte
them to subscription by the State the next question
tat presented itself was, what means2 We
been told that funds exhausted that we can go no
further at present in aiding internal md tho
uepts OIL the state have been paraded before most i'm
posing manner what the object of the gentleman
from Goochand in thus arraying the Commonw wealth Ii
abilities before us? s to apply the argument to be drawn
from these statements TO this work alone-or does he i'm
tend to apply 1T to all works of the kind, Does he in
tend to say, that all improvements must sop because
our Iuius nave Deen drained! Does he to say that
the James River and Kanawha Improvement when il
comes up must be arrested and made wait the further
accumulation of resources to carry our plan OF I'm
ProvemenR Mr. Il. should suppose that such was moi
he intention OF the gentleman; hut his reasoning would
bear such construction
Mr. Is. here presented the Second Auditor estimate,
of the condition of the fund for informal Improvement
and OF ITS future capabilities which he would ask tho
attention Of the House
The estimated receipts of the year ending Both Sept
1885, follows
fr ON interest dividends and stock $lO7,226 so
year 1874 had been 10000 lie was not
aware why it had been reduced in the cyti-
mate for 1881
James River surplus Owing to improve
Ra nent and nc 5TePairs2 only $4,000 GO
treasury, Both September, 1884 1929 50
$l47,4GO 80
Interest on loans, $04 PA 81
Engineers and other expenses 1890 90
Bridge at Covngton, $500 on
Blue RIDGE Cana Turnn;Lc 1'onO an