Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1835-10-24

NAMES fertile accomplishment 0! oo)ec.'
la. thai ifacS@ thing valuable be effected !"
must be by eInl,arking in the cause OF inter
ma, imp,ovemer.t ass safe enterprlzc. DO
proof 81 the co.rectnese fthis position, rel
c,ence might be maLs to the saessahak NC
have now on OR Statute book II or IL acts
characterization for Railroads or Tnrnp'kes.
mos, of whic,. we're passed aeverll years
since. and vel ~ part Of the improvement
contemplated have been put in successful
opera,ion, and only two or thee miles have
even been placed under contract. GER
ta,niy mean to cast no ccnsurs upon ihese
com,a..ies. The directors, as well as 'hs
citizens along the several routes have fnan
Tested praise worthy zeal on this SUBJECT
Lisn3. the war, of enterprise, or public
shirt bat The want Of capital that has
caused this delay. In country so new al
ours, il il not to be supposed. that mucl
surplus capital could be found for invest
men, in stocks. Every farmer wishes t.
employ all his means in improving NJ
farm. and every merchant is ANXIOUS 4
add 10 his stock IN trade. And the true
interest OF the state requires, that the,
should .bus employ their capital. II i
upon the cultivation Of the soil, the IN
movement Of our natural resources, ard
the accumulation ofour individual wealth
that the prosperity and independence o.
The state DEPEND. Let us not cripple the
energies ard limit the resources OF ou'
citizens. hy asking them 10 invest their las
dollar in Railroad or Canal stocks. Expe
s;ence affords sufficient Droef that foreigr
can;,al will not at this time come TO oul
aid.
How then il may be asked, are these
improvements to BE- madeI ] answer, BY
borrowing capital from Others, providing
means for the payment Of the interest, and
plcdging the faith ofthe state for tie uIt'-
mate discharge Of the principal. This y
entirely practicable ard safe. Although
the people of Indiana may not De wealthy
vet their credit is good. and when united
ioyr.I,er, a nd acting through their repre-.
scn;a,;ycs as = state, they can command
.rv amount Of money; and the disburse-
.nent Of this money will so far en''ven the
,,siness Of the country as TO enable US,
,,,bout difficulty. TO pay the interest until
relieved from this burthen by the profits Q.
Tie public works; and posteIity, having the
,dv.,n,apes aud the revenues Of these i'm
proyesncnts, cen very readily pay OIL the
principal.
But even if we had capital in our state
ufficient 70 construct these public works,
|, 4 consistent with their true interest forl
he ne op,c 10 surrender the control OF these
,yeat avenues Of their trade, into the hands
r CAPITALISTS who, perhaps, may have no
den,i,y Of interest with us. and whose
:hief object, therefore, would be TO reallz:
he lnrp. 81 profit on the investment madeY
-, Il Should be recollected that although
hose stocks may be subscribed tor by our
,wn citizens, 10 whom we may safely con-
idc our rn,erc SITS, yet they are Transferable,
nd when they become valuable, will be
ought after by capitalists from abroad and
G.w wears only may clapse, before the
alancc Of power IN the directory Of 'hesc
,,hlc works, my DO found in the hands
r persons residing else where. The inter-
>, Of these stockholders will prompt them
. tax the people m the way Of tolls as
;ol, a. the limit fixed by the charter
which IS generally high) will allow, and
+ tho people should find this oppressive,
THAT conirol over tho subject will they
osses.? Under tho charters heretofore
ran,cd by this State, they will have none
Via tever. IN proof that my fears on this
,bicct arc no, without foundation; might
pfrr 10 the experience Of the country on
Ills point, and particularly ~ regard to
he Iouisyflc Canal. The charges alrca-
\ cxnctcd Ly this company have been
ons dsrcd so oppressive that the people
rsidiuy above tho falls have pes'loncd
'ongre.s for relief The committee on
pads and canals in the United States Sen
10, 70 whom the subject was referred and
( which Gov. Hendricks Of this State was
chairman, made an able report on the sub
ct, fully admitting the justice Of the
Dmp!aint made by the petitioners, and
rging Congress to grant relief by purcha-
NJ the stock. The cxactions Of this com
any, the petitions Of the people IN conse-
ucnce thereof, aud the proceedings of
ongrcss on the subject. 'fpropcrly consid-
red, will be found greatly to strengthen
" position, that the great leading thor
Ishfares, projected in Indiana, ought to be
Instructed by the State, so that they may
. at all times under the control Of the
.op.e. II - not a sufficient reply TO this I
.gument to say, that these evils would be
'g,'lated by composition. The magnitude
I'd cos, Of tho improvements to which
Jude, forbid the expectation that parallel !
'u,es would spring up, as is sometimes Is
.e case with LEGAL works. "
In submitting my views on this subject, Is
must DOT be understood IS expressing the Is
Union. that il is better to have no public Y
than that they should be
ade BY companies. All the inconveni- Ia
nee and oppression which can result to tie a
'ople from this state Independence upon n
\ holders Of stock, cannot equal the dis. :
Rnts = >obich they must be sub-|O
&c a,,~h snrrpv0- Ill