Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1838-03-08

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enough 10 shew the dangerous character OF
this partnership principle, and the absolute
necessity of abandoning il 81 call upon the
advocates OF economy 10 pause. W here is
this thing 10 stop? What is theremedy? |
tell them The only remedy is To adopt the
State principle-a principle which operates
openly and aboveboard-a principle which
advances towards the Treasury in the lace
of day, and which can be successfully resist
ed when the public interest requires it-a
principle which will enable us 10 logislute
understandingly, and 10 proportion our I'M
dertakiDgs 10 our fiscal means.
But gentiemeu.say we NJ. not able 10 I'm =
deriake the scheme proposedby the Commit
tee. They are suddenly smiten with holy
horror Of public debt. Let me ask gentle,
men where their fears were last winter when
| we were involving the State in such enor-
nous amounts? Did they raise their voices
then in favour of economy: Ne, sir, their
liPs were Theoretically sealed Now for the
fret time w hear the alarm sounded. Now
for the first time, we learn that the people
are TO he loaded with taxes-that property is
10 be dspreciaied by burthensome eyactions,
aud the State left in bankruptcy and ruin
MIR. Speaker, for one, have no faith IN
these prophecies. call upon gentlemen 10
proht by the experience of our sister States.
point them to Ohio, New York and Penn>
sylvanid, and ask them if they find full
tllment OF their predictions in these States
Sir, they have all embar ked in magnificent
schemes of Internal Improv ement, and in
stead of intolerable burlhens and " de spread
ruin, we find all their resources developed -
their industry stimulated-ther productions
ougmented-iher taXations in a fair way TO
be entirely abolished, aid the whole country
smiling with prosperity. Sir, an ounce OF
such facts as these, is worth pound of the
deleful arguments and prophecies OF gentle
men on the other siae.
But, sir, we need not loOk beyond our
own State Tor evidence OF the value Of Inter
nal improvements. Even regarding them
as mere investments OF capital, believe that
! would hazard but little in saying that there
10 no line OF any magnitude in Virginia,
which is finished, that has not yielded O fair
return on the amount subscribed by the State.
Many OF the works, il is true, are unprehta-
bls-but 1t is because they are mere local
works, end have, in many instances, been
! lnludiciously located and badly constructed.
Sir, beg the attention OF the House whilst
l advert 10 the present condition of some of
the public works OF Virginia.
| First, Sir, let US look at the Petersburg
and Roanoke Rail Road-Tbat work has
been In operation bat two and half years,
and what has il accomplished Turn TO your
Second Auditors report, and you will find
that 1t Is yielding ten per cent. 1t has in TINT
short period, kept down the interest and sup
| ton OF the cost OF lis construction.
Turn next 10 The Fredericksburg road, and
you will see, sir, that i; is yielding more than
- and hafnre tho nj
the currency which has operated 50 Aisas-
terousiy en- every species of stocks, the Com
mon wealth could have obtained premium
of nine per cent on every dollar which she
subscribed towards It's construction.
Look even at the imperfect graded road
from Covingten 10 Kanaw ha-you will find,
sir, thnt that road, imperfect as it is, and
constructed as ii was al 4 most eXerhitant
price, has, under the most unfayorabie CirS
cumstances, yielded clear div idend OF near
four per cent.
| Sir, might continue this review, and
show that some Of the local turnpikeS even
yield from s To 10 per cent. but ] am aware
| ui The value OF tho time Of the House, and
will therefore foTb bear from consuming ii I'M
necessarily.
But, sir, is the dividend which a road yields,
the measure of lis value 10 the public? Is
this a Statesmdn.!ike view OF the subject? Is
the Commonwealth to place herselfin the Of
titude OF mere stock broker and look ex-
Clusively 10 the per cent? Sir, humbly
conceive not | consider that there are other
and higher incentives to investments of this
character You are bound 10 look to the in.
huence which will be exeried on the indus.
try, the production, and Ihe property, Of the
State.
Sir, let me illustrate my idea on this sub,
ijeCt by reference 10 the Kama ha and Cev-
ington road. Upon the Narrow view of the
subject taken by some gentlemen, inasmuch
as that road does not YIELD the interest on the
COS; of IFS construction, il ought never IL
have been made. But let those gentlemen
consider The effects OF that road on the public
interests. Sir, what was the condition ofthe
country through which that road passes, be-
fore lis construction 1t was almost a will,
derDeas. 1t was with difficulty that any We.
hiCIe could pass through it, Property Of ev-
cry kind was worth lille or nothing, and tbs
traveller who toled through the mountain
paths did so al the risk Of his life. WhG
has been the effect produced 10y the ConstruC.
lion of this road, at q cost Of less Than 5000 ,
600? A every turn in the road the eye q
The traveller is greeted by the appearance o
some neat rm>bOuse, or comfortable tavern
Farms have been epened-the rude feature
of the landscape have been smoothed by tht
industry OF The sturdy yeomau-indusiIy la
been stimulated by the assurance Of neetins
its reward, and the value Of the lands alonl
the read has been augmented To- three or fou
times the amount OF It's cost.
Sir, let me refer the House 10 the efec
e which this and other roads have produced, OF
7 IL. 4 II