Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-02-24

and shall apart certain PER ccntagc oil the sane
amounting 10 $40 pr annum, Tor the cAtinsuisll-
men, d the principal within y years the period which
the Stat. bonds tote issu,d ,oran In this shape
il 10 manifest, froln the developments of the Com
panys present revenue, 10 say aoting Of its future
inevitable augmentation. that no bnrhen 10 the State
treasury, present OF prospective. result fran The
passage of the bill The State, in one word will lie
merely the end0r>'r Of thu Company, whose resources
will be unluestoably ample sufficient met lis en-
pxgemeats, and prevent any demand upon the treasury
This bill Is based upon the prinei pie which. in my tsti
Ipsiion. all such bills oug hit to recognizable signaling
- for the payment II the interest the debt theroh,
authorized aud creating sinking fund for the extinction of
the principal Yet there Is doubt Of lis r.ssaac un
less upon condition that the Company will agree to canc,
like amount Of bonds pledged in Europe ly Gen liam
ilton, as security Tor TIE loans obtained by their hv-
pothecatou In this latter shape the bill will If course
unacceptable 10 the Company, but II will my .snls
ton be less advantageous both TO the Company and 10
the Commonwealth. mere exchange Of stocks will
pa, the Europcsn debt OF the Company. tnt it will not
relieve II from other cnharrassmen,s, enable il, BIZ
the absorption Of lis outstanding scrip, receivable
tolls, TO pay the semi annual interest upUn its other LA
bil,ss in july and January next; while the connection
Vt Me Canal with water 50 ESSENTIAL 10 tic int, rest
OF the people Of the county, will lie DELAYED, aud the
works above l.nclturg, including tie half completed
and dangerous passage through the Blue d,e, uj,n
which such large sum has been (mprovidcntD cx
pended, must be aban'ohed,- FIR how long period il j.
for the future 10 disclose
You will see ty the (vcry imper,ct) reports of the
newspapers in THIS place, that the South western Road
bill has been under consideration. Ono If the NEST i'm
poran omissions of the reporters is the fact that the
Two las, sections If the bill authorizing the Incorporate N
ofa Company with capital Of $lo0000 two flh, to
bs subscribed by the State, for the purpose extending
the road from Salem TO Iynclturs were on the motion
Of Mr. Crutchiield, stricken This moiion too was
voted for by OF the special friends and advocates Of
the Buchanan interest The amendment pr p sfl hy
myself setting apart the dslrbu,i,e share of Virginia in
the proceeds Of the sales Of the public lands As an inter
est paying and redemption fund for the lean authorized
BY this bill, is still pending though il is rrl able .!a
withdraw it, at the solicitation If tic S.uthv ,,t IN
members, when the bill shall he again talon up They
were apprized ofmy intention offer bef, was sub
United, and none Of them n,inatcd me any objection
to tina, Indeed. | though they did moi disal
prove Of it, they knew tina, it was the only cundl
ton upon which, IN the existing condition. oil our
State finances and pecunlary affairs. could consent
20 f,r it-anl that there are others who OCCUPY
the same position | therefore greatly surprised
when complaints came from that quarter, and when il
said the amendment had tendency III i, was no,
inended) 10 enbarrass the bill, W coupling i, vitha
different subject My own impression was (anl is IN
ehanged,) that tho adoption ct my amendment would
strengthen the measure. by brngln. supper, mem
hers who will otherwise e constrained most Reluctantly
L, vote against it, Tbs IS aly Own situation | cann,t
consent add 10 the State debt, ucrexs,ne crruns,an
c-s. any purpose. without providing the same ,,n
the means Of paying it, other tran taration viii not
~ my vote add to the nthcis Of dc people the yer,
moment tia, they sending in y. ots asknu f 7 re-
lief laws and stay laws for the purpose Vi construct,
inga improvement which, long and earnestly Advocated.
t, the pr,,,lon Of which have freely contributed ~,
mite, and tho CONF otion # which, Terminate ,cit,cH
nay regard measure Of vast importance lotol, To
the people Of the Southwest but the cutre Satr-If
the adoption Of my amendment would have had the IF
feet Of driving any Of the Southw' members from
issnpp,rt II, only shows that they deem the imnc ate
construction of the Road itself of less importance than
the rejection by Virginia Of the ,ongne her un
der the Distribution law occupy the same u siti,n
IN reference to tho only other alternative Iupson-
deem It's immediate construction OF SIS Importance than
The augmentation If the State debt with no ether m, ans
for the future payment of the principal and interest bu,
increased taxation II is between those mcn.b, RS and
myself mere choice # meals-thcy willing construct
tho hJad IN one way, and in another; bu, they re
J~elng my proposition in conflict with their principles
andiam rejecting thcir sas opposition the
"c people andn violation Oft sound principle of prudence
IN ef,, any. II is ihsdiousy said / am aware that my
e'uein reference this bill has been occasionally tic
lection OF Buchanan the eastern terminus # the Road
10 this insnuaton shall MAKE ~ other reply than that
" Is utterly false My determination tr any
Appropriation 10 works this session Of the Irgis
AZURE unless fund could be apart, drawn from 9th
sources than the ordinary Of the STATE Tor the
payment Of interest and principal, formed long before
mat body convened and was CONSIDERABLY and.n reference
THIS very state of things. announced at of the car
~ meetings OF the committee Of Roads and shall firm
" adhere to IT, as Mr. Canbrccng ,nc said On another
SUBJECT I'm spite oiamcnations here and oSc~ here
noced have d'stinc, rccoltciion that on nv return
rom The iTlsansbug Convention last e in an editorial
''''l' with which accompanied the publication of its
P'eeedings, pointed To the Dstribuou f,,d as fur
.snhS TO tho friends Of the Road the only ground If hpc
WI .'e present success Of their improvement. Nay |
~ 'aher' and say, that very little hope was entertained
we" oy inc most sangfinc members of that Cony cnou
mat 'he scheme could succeed this winter, because of
' embarrassed condition of the people. the exhausted
~ Vi me treasury, and the already heavy State debt
"e payment Of the interest upon which calls for such