Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1839-01-16

mi
lished in or near 10 large cities. And when we re-
nenber that such location is favorable to the sale
NJ tie articles OF manufacture, the product Of the
shops attached to the school, TO the attendance
az discriminating and respectable assembly upJn
the repeated exhibitions which u istosnd advisable
10 encourage thereby awakening feeling Of emu
lofiop in the school exertng saIutaty influence
on the prinei pies and difiising knowledge OF the
means employed, and their sncccss; and remember
also that the persons duly qualified to take cbai Sc
of the institution must be looked for in the cities
and would probably be unwilling go into the couh-
try without extrnyagant compensation, IT would APP
uea advisable 10 follow the example oi other States
| Ia this respect and select city rather than the
country as presenting the most favorable location
The retorts OF the Second Auditor and the Board
If Public Works which will be laid before you,
will exhibit the state Of the fund Tor Internal Inn
prove ment, the revenue derived from such oi Tie
| Public Works az are productive and the progress
! made in certain others that now being execr-
ted.
The times are characterized by great activity and
enterprjzs in the cause Of Internal Improvement
and this spirit is especially rieuous in several
adjoining States, which bending their energies
to the construction of great lines of improvement
intended for the accommodation Of their own inter-
nal commerce, and to concentrate within their Dor
ders large portion ofthe commerce Of other States.
It consists n.ther with the resources of the Com
monweal,b, nor with her true interests, TO be back
ward and indecisive 10 cause in which she Is so
essentially erned and in which, any delay that
may not be sary TO avoid immature and incon-
siderate conclusions not only ietards the common
advancement, but puts in jeopardy advantages oi
great Importance, that would certainly be realized
under the direct on Of prompt and decisive eoun-
sells IL certuin lines Of improvement, which, by
common consent, Of great and general interest,
shall be postponed until etter the greet works now
conte mplated and in progress in the States on Our
Southern, Western, and Northern frontier shall
have been com plcIed, and the trade and business OF
the country taken the direction which they in
tended to induce, we must give up the hope OF at
tracing hiihe any conslderabl. portion OF the com
merce of any Of sister States, and submit the
diversion ofa large portion Of our own to their mar
kets.
The James River and Kannwha Improvement,
from the large sum already expended the just
claim OF tie West to have it completed, and lis
acknowledged importance stands first on the list
of our public works. The capital of the company
charged with this improvement, it seems to be un-
defstood, is wholly inadequate to the undertaking;
and thr progress Of the work will soon have to be
arrested, unless timely provision be made for the
supply Of the requisite funds. In determining
what additional subscription shall be ma lie by the
Commonw lth, 1t should be membefcd that II is
probable, that additional subscriptions can be
had from individuals So that for any amount be-
You'd what might be paid by the State upon
newed subscription, the Company would have to
rely upon negotiating loan. And 1t rests with
you to decide whether in that view of the case, il
bs not expedient for the State TO take whatever adj
di.ional stock may be found necessary rather than
permit her large interest 10 be made esponsihle
for u loan to be negotiated by the Company.-The
effect OF such loan being 10 depreeiate the value
of her stock and to expose il to casualties without
any compromising advantage.
j regret thai | am unable to refer in deato the
operations Of the Company, aud lis future plans,
for the want of the report If the Board Of Public
Works and leave the interesting subject TO you
with the hope that it may eompott with
your views OF public policy to devise the OF
completing the improvement within an early peri
cd.
Public opinion, as we'll as the advantages Of the
Improvement. strongly recommend the construction
of "A Rail Road from some proper terminus in the
East tbs Tennessee line. IL must be regarded
as aIlimporlant TO enable the State to participate
in the immense and growing trade of the South
West. IL would furnish to extensive and fertile
district Of the State, rich in minerals well fer
tile, that is cut oft from the East.i markets
by i 3 remoteness and the difficulties of access il
facility that mny be said to be almost indispensa-
BILE; aud would ut the same time command the
transportation OF the merchandise and the valuable
al 4 Mississippi. Whereas, if The improvement be
not made, Southwest Virginia, as far as Wyhe
County, will be under the necessity OF looking to
the South; and its productions, along with those
the States referred to, will mud outlet in that
direction. improvements have been already pro
jested in other States, which will forever deprive
Virginia of the invaluable trade that would be com
handed by "a Rail Road to the Tennessee line if
she urrenders to their superior enterprise and en-
her own. TO the undisputed uui ty and impor-
lance Of the improvement in question, should be
added 10 the Impressive consideration, that it could
fail TO yield directly adequate return uEon
the capital invested in its construction. That would
seem to be the certain result of the travel as we'll
transportation, OF which it would be the avenue;
travel to which it would be difficult to assign n
limit, as will be perceived upon referring to the
lines Of Improvement uuder way in the South
and W est, and TO such new works on the part of
other States, it would unuyodubIy call into exis
| tence.
Strongly impressed with these considerations
cor neslly recommend again the Improvement to be
undertaken State account.
The completion Of works of Internal Improve
ment IN progress well as the construction of
such Others the General Assembly may desire to
undertake on State account, involves the necessity
of tesortinS to further loans. The sum needed will
be SO large to make it obviously proper to at
tend to the particulars which viii secure the full
be neit othe high aud undoub,ed credit of the Com
monweath. Oar negotiations hitherto have not
been conducted to realize probably that result
Instead of relying the sale Of certificates Of debt
at the Treasury Office, it would | think, be advi-
sable to offer them in markets where capital is
abundant, and public securities sought after, and
to commit the negotiation TO agency that could
be relied upan to bring them advan,ageously into
notice. and furthermore, when the terms would
justify it, make the interest payable abroad, and
perhaps also the principal. The additional price
that would te thereby obtained, would | have no
doubt be more than equivalent for any risk from
the fluctuations in exchange. The most ample
provision, should, of course be made for the puy-
ment of interest as 1t may accrue.
The State debt is now IS, 255, $50, to which NAV
be added the sum OF :443 300, that the Board OF