Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-02-16

hone in New York. Not Only were all estimates of
the profits OF such woks utterly false but the es imatcs
oil hCi7 cost equally Prahs overrated, Gusts un
deTfnttd There is but solitary canal aud that instance
related memorable one, that he had ever heard
read n which had been completed Tor The estimated
cost The particular canal now claiming tavOrs, has
added another TO The long list Of inadequate esn
mates
Mr. YExAsLE briefly replied, and contended that the
Company would have difficulty whatever III paying
the interest and that gentlemen need entertain no tears
10 the Commonwealth being called upon for dollar
lie was sure II would not
Mr. WITCHER went into statement oil The conditions
and understanding subsstlng between the Common
wealth and the Company, and the sums subscribed LOT
by the former; and he earnestly argued that the later
had not gwen ample security 10 the Stale, rs mao
been commended for by the Delegate from Prince Edward
He asuurshci l!3al gentleman argument hlr.
w. maintained that should The Company he able 70
pay the Interest The loan, they would be thrown
back upon tie Treasury Tor The interest on the OLD one
lie would ask if The gentleman would say that even The
estimates that had been unS, d. liberal as they were,
went 10 show the ability Of the Company TO pay Tie ~
rrest all hat had been subscribed and that whch was
required to be subscrh d. lie understood the gentleman
would mol say But the meaning OF The gentleman
was that ii the State would pay the interest on what hau
already been subscribed the Company would pay Tie IN:
erest on he Subscription Now he (hlr W "Hu.u
ask it that very profitable business: lie siou'u
think it not. lie commended that if the faith oil Tue
State not pledged account of this work least 'ie
property Of IL vas There was no provision III the bill,
that the stock should hereafter be represenedat all Tic
had called tie attention Of the committee 10 the lact,
and he admitted that ore uJght TO be introduced Ike
(Mr w denied that company OF this character was
company lI!- Joint stock principle. 1t was com
pany established the money Of the State. lie wished
the bill made to that shape which would be must
acceptable to the lous@, if it was to pass al all.
Alter exchange OF few words between Mr.. W.
SABrE aud Nj. WITCuEE,
Mr.. TYLER said that, If the amendment was adopted,
the bill might vel. be rejected al once lie Contend
ed that The loan proposed 10 be- borrowed must be guar
an,sd by pledge on the pat oil The Stale hF reason
which brought him In that Conclusion was lhis-l MS
great Internal Improvement System was talked OF be-
fore he was born: the James River Canal had lis incipl
ency before the days OF the Revolution. An individual,
whose he had urgo,ten had gone on 10 execute
u pa:t Of the work Just before the Revolution, which,
perhaps swept him of the face Of the earth, as II did
thousands OF others The matter sumbered until The
wear ISL when the finger Of Virginia in this
work She lhCn began to talk about connecting The
Eastern and Western waters Well, we know what!
had attended this scheme from that time TO this -
He mentioned these facts for the purpose OF showing
that unless there was guarantee that Virginia had
| put her shoulder 10 the wheel-ihat she intend
ed TO all doubt, and that she gave an express
inlima'ion, made known 10 tile Whole world, thal
she had put hand the work perfect earnesiness
and In-nded TO complete H. upon other terms could
the requisite be obtained to finish this great IN
derak!ng lie verify believed that unless this guaran-
tee gwen by a State, the loan could not BE- contract
ed. THIS question of life and death TO the com
pauy. Let the guarantee be given, and no difficulty
woald be found in crt'in. the money. None had been
found by South Carolina fer her great railroad.
After lew words from Mr. WICKER,
Mr.. DAYLY had hoped that some gentleman would
have taken the vew If The subject that he dad, but none
had done it The EFFECT Of the amendment to with
draw the endorsement Of The State from the Company
from the loan 1t wanted and 1t would prevent their OBJ
tanning the !onn or ii would not He however, thought
it would But, suppose it did not, and the Company
could get 1t without the endprsemrnl-what would be
the effect; They would be compelled to give higher
rate OF interest Tor the money! than with the endorse
ment. But suppose that wllhnut the endorsement the
Company could not make the loan-what would be The
effect: Tie would appeal TO The gentleman from Hall
tax (Alr Edmuuds) this point, and ask him il The
work would br stopped;
II that the fleet the consequence would BE- ri
vial one. The Delegate who thought So must have for
gotten tir history of Virginia. and he blind what
going around HIM When this improvement IVES
frs, proposed there great opposition manifested TO
it There the wealth aud talent OF Virginia array
ed against the frcrd loan Notwithstanding the udlunr
which Justly atlachable 10 that measure. the loan
was raised And now the opposition. then $" strong y
shown 10 the wUik, is fast Withdrawing from II. We
q" those who the most active opponents
# Internal improvement, going in favor Of II -
They say that the State is largely Interested, that 1t
is better 10 e%pend money than to abandon The
Undertaking Tie work was ginning strength, and
he would venture 10 say. that, eventually, the State
would tie found taking the improvement on her own
hands, from LynchbHTg 10 the end Of The proposed i'm
pInvemcnt The gentleman from Halifax did not see
! tina, that would be The effect Of his amendment The
gentleman could not see the spirit OF Nrglnia-a spirit
characterized by wild extravaganza The only question
! which presented to tie gentleman from Halifax and
others, and himself was whether the work should be
continued 10y the State entirely or whether we should
preserve the joint principle far as II was practicable:
! He was not willing 10 the Stale loaded with a
,onr debt But, believing as he did, that we could not
stop this work he considered it his duty shape his
course promote the best interests Of his cOnsu
pnts lie would vote against The amendment, and also
against the bill Bat, If the loan 10 be made, lie
would agans, any further subscription to it the
| part Of the Commonwealth