Lexington union. (Lexington, Miss.) 1838-18??, 1841-02-13
REPORT
REPORT
Ofhe Committee on the
rIcKsBURG WATER WORKS
AND BANKING COMPANY.
REPORT.

HEX Una
h. SPEAKER:
The committee TO whom the bill, enti-
"a bill to be entitled an act to amend
sct incorporating the Vicksburg Water
Iorks aud Banking Company" have had
some under consideration.
Ths bill proposes that the company be
ouera,ed from the construction OF the
her works, rs required by it's charter,
in lieu thereof, required 10 erect a fac
within the city Of Vicksburg, or
I'm five miles Of it, for making cotton
kginp, rope, and coarse cotton fabrics.
q factory to be completed within eigh-
q months, to be propelled by steam, and
company 20 be required TO receive the
.tanding issues Of their bank at par, for
N ofthe fabrics OF the mandatory.
Your committee believe the conslruc-
pn of the water works impracticable,
hn the period prescribed by the origin.
charter, or the amendment thereto; be.
ause the city is not graded, and therefore
IN in condition 10 receive the pipes
hs finances Of the city are in such de-
nged and Inefficient condition, as 10 for
I'D the hope tina, The grading can be done
d any reasonable time; and the situation
h individual property holders, makes the
Prospect Of The grading being effected by
briynte enterprise, equally hopeless. The
company were not required to do the gra.
Fng Il the privilege now sought, should
b. denied the company, namely: to make
The experiment of manufacturing bagging
bad rope from our owu staple, then it is
pssible they may possess the banking pr
Iilege, without rendering airy public ser.
noes in consideration thereof. 1t is 10.
llsted by some, that by The ooh section Of
be charter, that privilege is granted till
1858; aud that by the 18Th section, il is
hade perpetual, upon the condition that
hcy supply the city with sufliciency Of
eater.
One hundred and ninety two thousand
pillars Of the capital stock OF the company
as been paid in. The entire issues Of the
tank amounted to three hundred and TWEEN.
y thousand dollars, which has been re-
uced to fifty thousand three hundred and
twenty dollars. The real estate belong.
'pslo the company, all situated within the
tI'yol VIcksburg, is estimated at forty
pur thousand dollars; one portion Of which
connected with one Of the principal no.
elsl in the city, and is under an annual
EN- Of two thousand five hundred dollars.
he company became possessed Of this. in
payment OF debt due TO them. There is
\" large building within the city which
pc company have prospect of obtaining
% account olother debie due them, which
s0uld be suitable for a factory, but which
ny Could not use for any other purpose.
rreludices do exist agains, corporations
Pao not without some color Of cause: but
r0en we reflect, that they have been the
plOneers, and frequently the suffering pio
''eeFs' IN experiments which have rebound.
3 !" The advantage and happiness Of man.
.'0o' patriotism should persuade US TO burn
.nOse Preludlces on the altar Of The public
sOOu and most especially, when we are
that the corporate privilege
sOuga'' is expressly TO make such an ex.
pertinent.
Hlssn axiom in political economy, that
~ STATE can be independent and happy,
r Ta'cn relies on foreign markets for sup
rnvs ol Indispensable necessaries. To the
~" U,"n planter Of Mississippi, bagging and
.ape 70 OaIe his staple product, are neces.
nv. sS not to be be dispensed with. II
,ov'e can be made Of hemp only, then
ms s't 10 always be dependent on foreign
i As's; and that very dependence, will
car;I great degree render his prosperity pre-.
,sn' ANUS. Those who have given much at.
~, hs'"n 70 the subject, entertain the opinion
f,rn OO,n oagging and rope can be manu-
.w,. su from the cotton material, to an.
mad, \ "'e purpose Of baling ms well as those
TN nv y, hemp, and at little more cost.
.,;'.i PUBLIC mind has been to some extent
0vdan', 90 This subject, and It is believed,
maS. desires the experiment shoald be
3 II !. AS i has been with experiments
MD ''me', individual enterprise is too IL
Yeu," wv individual parsimony too rigid to
y WI upon it. Should the experiment
han - made with success, there would
nd .I Ie no difficulty in engaging capital
As necessity. SO'""'s"'ula's wv"
!. p'essed with tho correctness Of these
a .~', your Committee have patiently sat
WV 70 calculate the probabilities If nue.