Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-03-17
VOLUME GXxHV.---NO. E0I.
Provemens IL this is not reimbursement, what is, I
pray To know And all this has been done in the shoe

pray To know. And all this has been done in the sho,t
spice Of l3 years ~ t
the gentleman from Halifax TOUCHING the nhnroS,,his
canals of the New York system It is true The lareraI
canals were not yet proitabe-sone Of them had lust
been in operation, and OF them had been comple
If! more than few years In due time, they would
doubtless yield revenue. But according 10 the shew.
ing of the gentleman himself the Erie Canal had paid
It's own and the expenses Of all the Improbable canals
and left melt revenue Of $7l7 0UU.
And the gentleman had attempted TO slew, that the
New York works only paid per cent. the whole cost
His error s in onnltng TO credit lie system by the
whole erb Of the Erie Canal n.afiy eight millions OF
doilars, which had been paid of Deducng that debt
said Mr. s. the n. York improvements pay II per cent
Bat The salt and auction duties, said the gentleman
frDn Prince Edward, contributed ke construction of
the Erie Canal. and ocghI TO Se debitcd it, Admit IT,
said MIR s. and how long will it require the S7l7 O9U
nei revenue of the Inst year. sinking fund, to re.
fund The whole amount Of the sal, and euctien do,es'
But the sinking fund is annua! one and in about six
years will fctarn the whole amount.
Bot, though judcious and we'll located works will re-
lmbuIse the cost of construction yet after all reimburse
menl ls net the True principle railroad or canal has
PAID Tor ITSELF when lis income dctrays tsown expenses
and The interest upon the cost This is the opinion
lsrianed By all the practical of Pennsy and
View fork, IN relation to their systems Nor could it
be otherwise. The State, the moment her works Weld
sufficient revenue TO pay interests and costs could issue
stock at per cent yrrteenabe fore yer, redeem
able al pleasure; and for this stock, it could obtain
handsome premium For such stock, The capitalists
OF the world would eagerly compete. Ii is well known
that The value OF loan consists chiefly if not entirely
IN The length Of time for which il is rredeemabe, and
The soundness Of the security which is provided for tho
redemption Of The interest and principal Hence CAPT.
allsts will loan 10 Government At ? o. 4 per cent
rfedseabe for o0 yeaso, in preference 10 per cent
for % years And SO, If annual fund is aside
for the payment Of interest, they will loan Govern
ment for or cent; whereas, without such pro.
vislon they would lend for less than o6 per cent
II hliShpd tnr anf
capla that the holders Of the National Debt stock Of
England would not surrender it, if the Government had
The gold TO pay down for it. And is upon these pn
cpeo that the holders of the Erie and Champlun Canal
stock charged premium of aud per cear. for sur
rendering IT, Some of the hoders Of the stock indeed
would not surrender it, for the large premium Of
fered. Nor the Canal Commissioners of New York.
though prepared with the necessary funds, obtain the
stoca redeenaole In lSio, even al premium, though
they are ANXIOUS IN have il surrendered. The holders
oil That stock, knowing THAI un!aiing annual eaenus
is provided Tor The payment OF interest," will not on not
surrender il, but would gladly commute it for an ire
deaDabe Stale stuck at per cent. Though now re-
ceiying pc: cent they wonld surrender their stock
bearing that Interest," provided they should receive in
lieu an rrcdeemable stock al or per cent; and
for such stock they would pay premium So soon,
therefore, system Of lniernu Improvement furnishes
sufficient income to keep it in repair aud pay the inter
est.On the principal expended it will have paid for itself
aud will have cancelled any debt Of the State contracted
for It's. S.-ucloa.
and Pennsy lvania works The only remaining enquiry
is, whether the lines recommended by the committee
promise like results? have no doubt of IT, said Mr.. 5.
WHY should they not Are advantage less' In alb
the elements OF wealth. are we not their rfn"e Fog
my part said Nj s., ldoubt rot the Ju,ncs River
and Kama wha Improvement Induhe D W. Railroad VII!
only redeem their c"ss, but Ike The Ere cuna'
pay expruses vn,leyer lines NAV prove expen-
sive if any Sir, said MIR. S., if The James River and
kana~ha line had BEEN constructed 80 years ago. Vir
guia would have been what che was then the first
Stale ia this ConederGcy. And she may regain muct
that has been lost by promptly completing this improve
ment When. tie gentlemen from Halifax and Prance
Edward tell that Virginia has not equal adpannges
with New York and Pennsylvania, do notbeeve them.
The route from the falls o. the kanawha River TO the
tide water Of the James, the shortest the distance be-
ing about 4llmiles The distance from the Ohio River
by the Ohio canal the Lakes and the Erie canal is lUe3
miles The distance from the mouth OF The Kana~hs
Pil,sburg is about $50 miles, along river that does
afford regular navigation. From Pittsburg To- Pha
drphia 400 mes-rEakirg the distance from The mnulh
OF the Kanawha 10 Philadelphia, SIX hundred and fifty
miles cay nothing OF the several ircnshipmens that
take place the Pittsburg ine The shortest route
the from The valley Of The Ohio 10 the Atlantic seabord
H. hat Of the James River and Kunaw line; and there
fore this Improvement, when completed, will possrss
decided advantage The n. York and Pennsy vans
lines aud will successfully compete with them for three
Obvious reasons First that il is the most direct route
Secondly that il is cheappst-and thirdly, il will be
open gensray the whole year while the n York Cana!
is obsIrucled by ice nearly onehrd of the year, and
the Pennsy lvania canals niuch longer than ours.
From these groundsit may be assumed, that the ma
turaI market OF The Ohio Valley IL in Atlantic
Cities Aud f we had pursued proper pulley, we would
long since ueculed lis valuable trade. Neither ~
York pennsylvania is entitled 10 this trade II TO-
EURgs Of right 10 and have II we VIII, So s6onns we
ope q communication from the Kanawha 10 the james
The produce coming the Ohio, will not take The Ohio
Canal $40 miles-Lake Erie 25U mes-Erle Canal 1853
miles, and down the Hudson go miles. Nor when it
reaches the mouth Of the Ranawha will it travel $50
IN hen IN To-
will take the direction Of Richmond, going from The
Kama to Covlngun thence Though The canal 10 this
city Thus oil the produce of The Ohio valley tbot now
seeks the New York and Pennsylyania markets, wl:
seek Richmond and Norfolk as its markets One thing
CERTAIN oil the tobacco Of Kentucky that now goes to
New Orleans. will come 10 Richmond, the best tobacco
market in the world In this estimate Of the advantage
Of the Jsass River ine say nothing Of the produce
But there 10 anohar iuoaculabie advantage mat VIII
result from opening this communication. 1t will cause
DUR merchants furnish 10 the Valley Of the Ohio the
imported aud manufactured merchandise which il con-
is by means inconsiderabIe IN
luence Of the waat Of wale2 power and manufactures in
he West. Lhold il to be position which cannot be
conro7sred, that the merchandise consum-
ID in The great region Of the Ohio Valley, will take The
a'I no So that the merchants Of otr 1treurH eoii
y;, furnish TO the Ohio Valley, the supplies OF
;se wb;ch have hitherto been furnished by Inc ipPo
pro Of New York and Pennsylvania-ano no s'na'l au
yan,nue is this said Mr S. Richmond becomes u oSe
,a pnfac,prinp, and Norfolk an importing town. Inc
"a ms,er is Brought Richmendl to serIe as .ne %
ais Of nanuiac,ures, while The surplus which is TO con-
s,u,e the basis Of foreign radels transported
,s of the one, and the imported merchaa
a.; of ,he other Give Richmond The raw maelia "
work No. and market to supply with the msnyasueo
article and necessarily becomes nopeS me4
civ Give 10 Norfolk market Tor hei hg'. ,J ,he
cry and she oiU become importing city, ana lne
city State though both sss
I ~, o,o,s hat Norfolk has the natural ae'en'osee
vi which this give hst s ss 1t
Inc S,oab The richest mineral resioa of Virginia,
passes !hI0ugn oos ron lead gy psum and salt An i'm
aoopnu though region would afford outlet ios
this wealth Su, s's, ao, e en- s1 n the
Industry ind prosperity THAI will accrue