Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-02-25
Sll,36l,l95 80

A large portion of the stocks leld by the state, we
are aware at this moment entirely unproductye,&
comparatively small portion Of them will, probably,
forever remain But at leas, Sc 900, 900 pro-
ductiye, of which upwards of S5,000,000, yield an
average interest of 6 per cent. Deduct that
from the actual amount of the state debt 4 there
remains balance Of little upwards of 81 900 600 upon
which dividend accrues, and to meet the interest
upon which, constitutes at present, a charge upon
the state treasury. But, it must not be forgotten
that many of the works of internal improvement in
which the state holds stocks, are now unfinished
and, it cannot be questioned, that, while Of
these works will never pay per cent. upon the a
mount invested, and few of them will probably
continue to be entirely unproduotve those improve
mcnts in which the commonwealth has the deepest
stake, will soon be in condition to make partial
dividend, and if they be pushed forward to complete
ton, with the energy which is demanded alike by the
interest and honor OF the state will at distant day,
enable her to meet the interest upon the whole sum
expended in their construction, and YIELD in add-
ton, surplus to meet such other engagements as
an enlarged and liberal policy may Justify hcr in con
tracing.
The liabilities Of the stale, exclusive of the sum Of
$500, 900, subscribed 10 the Roanoke, Danville and
Junction rail road company, which it is now certain,
will never be demanded, amount TO the sum of ST.
500 72o; though it is probable, that by the failure to
comply with the conditions upon which sppropria-
tons have been made by some of the companies,
subscriptions and loans to which constitute this ag
gre gate, the sum is really much smaller. Its exact
amount, however, connot be stated
1t is impossible procure any definite info rma-
ton as to the required for the completion OF
works in progress. We deem ii pertinent, however,
to say that we do not assent 10 the opinion that he
difficulties TO be overcome. in the construction OF
railroads and canals are far greater in Virginia
than in apy other state where works of a similar
character have been attempted, if, dthey be OF
equal magnitude. We think we are justified by a
comparison ofhe cost Of such works in this aud IN
some Of the other states, IN assuming the converse
of the proportion. We regret that It IS not IN oui
power to exhibit 10 detail, the actual cost OF all the
| rail roads and canals that have been constructet
,b,onphout the Union, as we do not doubt that the
more extensively the enquiry shall be prosecuted
the more conclusveIy will the facts thereby deve
loned. sustain our position, which, as far as thos'
facts have been asertaned is clearly demonstrated
No extensive line Of canals has yet been completed
in Virginia and therefore, in relation TO that descrip
ton OF improvements no comparison can De 'hs'''u
ted but in reference to railroads. the result oil GU
investigation exhibits the fact, that, OF the works
finished 10 New York, (2lS miles,) the average cos
per mile, was S23,7oo, while the most expensv
railroad in Virginia (,hc Winchester') cost onl
900 per mile and the average cost OF all the ran
roads in the state is only about Si2'ooO per m"c
and ii may be added, tha, the highest estimate mad