Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-01-02

oieu lOSSeS must DC sustained, unless lie DOaru VI
fublIc Works are required TO exercise q more efficient
control over the works TO which il is made 10 subscribe.
The charters are generally framed with sufficient pre-.
caution, bu, as soon as the subscri ptiun Of The State is
obtained, the Companies, from love of power, the inter
esls "f individuals, petty considerations relating 10 farms,
mistaken views OF economy, or the improper Influence
OF contractors, are often induced 10 disregard the advice
and experience of the Engineers; the locations and
plans are changed, the work injured, and the error dis.
covered when too late 10 be remedied. These difficult
les can only be obvnted by the Board Of Public Works
being authorized 10 exercise u proper control over The
improvements. individuals with circumscri5ed interests
and views, are not aware that the undertaking they have
at heart, may be defeated by q more successful line, or
another mode OF improvement, nor are they competent
Judges oil The True economy and fitness oil 4 work. They
form Their opinions from imperfect data, while the Board
and lis Engineers proceed upon more expanded views.
In the present slate Of things great caution should be
observed IN projecting roads. lest they be affected by the
superior advantages Of railroads. Many, however, are
absolutely necessary TO The public convenience, and must
be made and Of this large number, few would yield an
income sufficient 10 Justify Individuals in vesting their
funds in the sock-where they do make such invest
menls, as soon as it is discovered That the stock is unpro-
ftabIe, the road is not kept in repair; and The traveller
is compelled TO pay for passing over the worst inad III
the country. As many OF these roads may he vastly use
full to the public, and yet lhe stock very unprosituIIe TO
the slockholder: ought no. the State alone to take charge
Of them, exercise over them the entire control, and con-
slruct them 10 suit the public convenience:
OF this class Of improvements, some have been made
some are constructing, and others are needed. Among
those constructing, muy be mentioned The North. western
Turnpike, which already is giving lite to that portion OF
the country. OF those made, The kannwha Turnpike
has greatly benefited the section it traverses. The road
from Staunlon To Parkersburg needs aid. A Turnpike
down thu Shenandoah valley is said 10 be desired by the
population, in preference to a railroad. And from Lynch
burg 10 he Tennessee line one is much needed, I'M
less 4 railroad is soon determined UPON. On ih's sub.
ject il is proper here Ia slate, That unless the General
Assembly should consider a raiifoud on this li''e, Of
sufficient public Importance h.. Justify lis construction
at the expense Of the State: r;ea in accordance with
the wishes of a large portion OF the people in the coun-
ties through which the road would pass, would re.
commend the immediate construction Of 4 well-graded
Macadamized road. Such an improvement would not
be oil that could be desired. 1t would not enable the
owners of lead, salt, and iron works, and the proprietors
Of the rich and incxhauslible banks of gypsum in that
region, TO send the products of their different estates to
4 distant market but il would, for the present, and for
many years TO come, answer the purposes Of the farmer,
and would bring through Virginia u considerable portion
Of the Western travel, which now, from the badness OF
our roads in that direction, avoids the State altogether.
The Stale Of Tennessee, have every reason TO believe,
would extend into The interior OF That State, whatever
description OF Improvement we may construct IN this.
There are w%eighty reasons for desiring 10 see The
James River canal, and the line Of railroad through the
State, from the District Of Columbia through The North
Carolina line, completed as soon as possible. 1t is, IN the
first place, true economy TO press these large works win
all possible energy. 1t will, secondly, enable the State
sooner 10 derive profit from her expenditures; and lastly,
as soon as the work is finished, we will have o practical
illustration in our own State, Of The advantages and dis.
Advantages Of each kind Of improvement.
The Richmond and Petersburg Rail road Company,
am informed. will find great difficulty in prosecuting
their work. unless the Stale should consent to advance
them the balance Of the subscription TO their stock,
amounting 10 about e~ighty.six thousand dollars, autho.
rizcd to be made by the act of Assembly Of the l7lh Of
January, 1897. | consider the completion of this work,
as soon as it can be done, of such Importance 10 the
State, that | cannot hesitate most earnestly 10 recon-
mend 10 the General Assembly, to authorize tie imme-
date advance Of this balance.
The melancholy accidents which have occurred upon
the rail roads, render it proper that should call your
attention 10 the subject. In 4 case in which SO much Is
at stake and dependant upon the careluIness OF the
agents of transportation, the vehicles employed, and the
due construction and repair Of The road, neglect and the
want of vigilance should be visited by certain and severe
punishment. The running of the engines from the track
may perhaps be prevented by fixing the minimum size
of The fanges, and by regulating the kind Of rails 10 be
used and The mode Of fastening.
The revenue for the year which has Just closed hs
been paid into the Treasury with the usual Punctunlity.
The balance in the Treasury on The lst of October,
1896, exclusive of The Washington Monument Fund,
was Sl9,G9S Ga. The receipts into the Treasury from,
that day 10 the Both of September, 1887, on account of
taxes on lands, &c, were Si29, s37 OF. The amount
received on account Of the Slales proportion OF the
.Ssrp!as Revenue from the u. States, was 81, 1885, 27 DC
making the entire receip,s into the Treasury during
th6pssast iisccl yea: with the balance on hand lie LIST Of
October, 1886, S2,Gd7, 963 ca.
The disbursements from the 1st Of October, 1896, 10
the 30th September, 1897, for The ordinary expenses of
the Government, including the purchase money for lots
aGw D,a e a I"Ppay % Of ,%s E .a Session Of The Lrgisla-
lure, ana S.I,40g, the amount Of judgments for COM
mutation Of half pay amounted 10 S5O4 ,27S 1S-for sub.
scription for stocks in certain banks, loans 10 banks, &c,
out of The surplus revenue received from the U. S, 10
81 .9oS ,0l3 7O-leaving in the Treasury Slc1.6I IL
This sum will he further reduced by warrants issued on
the Sd Of October, 1887, on account Of the States sub.
scription to the new stock Of The North western Bank of
Virginia, Ss2, 500 81, and by the probable sum which
will he required by the Board of Public Works TO meet
the payment Of interest on Stale Loans due in January
and July, 1885, retained under the 9Th section Of The Act
passed 9th of June, 1897, $l0O,O32 l3.-Af,er these
deductions are made. there would only remain of monies
which were in The Treasury on the 30th of September
last. the sum of 5 ,G09 Flor further details, | refer
to the report and estimates of the Auditor Of Public Ac-
counts.
The importance Of providing adequate means for The
payment Of the interest on the State debt demands your
serious attention. The revenue of the fund for Internal
Improvement falls short of paying the interest already
charged upon il; and when the full amount OF the loan
authorized to carry into effect existing engagements shall
have been obtained, the annual interest charged upon
the fund will exceed lis disposable revenue by nearly
5000, 900. TO meet this deficiency, and TO maintain nn-
impaired the credit and faith of the State, some legisla-
tive provision is indispensahly necessary.
For some years previous TO the late arrangement Of the
currency, loans were obtained without difficulty, and on
advantageous terms, at an interest Of five per cent
Blu, the loss which foreign holders of our stock have sus.
tanned, in the remission Of the last half years interest,
in consequence of The high rate Of exchange, and pre-
MUM on gold and silver, will, in The absence Of u pro.
per LEGAL provision to meet The emergency, prevent
the stock Of this State from being as highly appreciated
abroad, as it otherwise would be. No loans have been
obtained this year. at a rate of interest less than six per
cent, whilst The five per cent. loans OF other States have
been effected at 4 handsome premium.
There will he occasion to borrow, in the course Of the
present year. to meet existing engagements, abont one
million Of dollars-nnd probably a much larger amount
hereafter. The value of The stock is fixed already, and
will depend greatly on the footing upon which it is
placed. in relation to the payment of interest. The ere.
dit Of the stock in Europe, although until very lalely but
a small amount Of it was owned there. was held in high
estimation. The amount now in England and France,
is about S2.047 400.
To make the interest Of the loans which may be here.
afcr nhinined. paYable in apecic, or It's eluivnlent,