Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-01-05

ot the company received IN iis psf notes nj
Ia money and lastly, from the fact thar all tie proper
y OF the company was morlgaged to the State ,frum all
these combined the company was almum literally
without money and without credit. II has therefore
been reduced 10 The necessity Of calling upon the State
pay the next January nsalmeni of interest upon the
guaranteed bonds, and II proposing fn the sanction Of
tic | commonwealth the lest plan which the company
could devise The Of exlrcang itself from it's
onbaassaens without loss burden 10 the Stale BY
proving 10 tie world the Stale Of Virginia no doubt
will thai she will fulfil her guarantee Of The puicua
payment of the interest Of these bonds in a manner lo
You'd all easil. the guaranteed bonds Of company will
equal the state stock IN the market, aud both will rise
nearly par. II is plain therefore that the nse Of one
hundred thousand dollars guaranteed bonds now asked
for. coming IN aid Of the increased revenue frum tolls
certainly anticipated the proposed plan adopted by
the General Assembly, will afford ample security for
the speedy reimbursement Of the January interest aud
for the payment Of the july interest Aud in future it
cannot be reasonably doubted thai when the tolls nm
the great work shall be received in money! they will be
more than sufficient deiay all the annual charge, up
on II.
The undersigned beg leave also respectfully to
present. 10 the Legislature the consider alton that
The aud NV sought IS not asked mr private purpo-
ses merely, but Is in Truth and for public Purposes
Ia be rendered 10 great public work, the ben
eff from which consists IN the increase Of the national
wealth, and uuliH enrchng private citizens. The private
ellzcns @hn are members oil the company have thus far
perlycd no profit from their steck but have expended
than Two nnda hall millions Of dollars in eousruc
ting an improvement iar the common benefit Of the
hole Stale The State has already derived both pcrma
nen wealth and annual profit from the work in tho gen.
efal advantages Of trade the diminished Of transpor
lallon the increased value Of property, aud the
quenl increase VI Hychde derived from taxation
Yet thepfiyatc Stockholders ale still seeking 10 up
hold aud maintain tins Gfert public improve
nent IN The manner which TN conceive least burden
some 10 tie State without any prospect Of profit IL
themselves. except What may be derived from such
plus may ROMAN after deraying the annual che5es
md expenses Of every sr including the = and IL
yldcnd debts Tor which the state Is bound. al H. ia
charge Of the proposed sinking fund.
Ia conclusion, your meuorIasts suggest that the plan
proposed by The coi4n, "hilell imposes new bun
deus upon the people Of the state. will esilblch brOba
bly, beyond the reach OF failure work which Of all others
most deeply concerns the interests Of the commonwealth
To cherish and sustain which will illustrate her rogard
for the welfare Of her citizens, and unite the great
divisions Il the state by an iudisselutc bond.
With these explanations in relation the several pro-
visions proposed BY the above resolution Tor the sanction
81 the legislatures; the undersigned, behalf Of the
James River and knuamia Company. pay thai act
acts may be passed by the general assembly embracing
lhase PROVISIONS
And. as in duty bound.
Your memorallsls will ever pray, &c.
JAMES LYONS.
WhL NJ. PEiTON,