Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1844-12-12

he BOARD of public works'in their annual report
beg leave 10 refer the legislature 70 il for aine-
cessary information about them, and to recon-
mend that the Recommendations of the board be
carried into effect.
demonstration Of a road from tho James Ri
yer 70 tennessee, passing through the southwest
eih counties, and connecting their intercourse and
uaue' together with the intercourse and trade as
lar as possible, Of the neiyhboring states with
he routes OF the James River and the Valley,
mas oeen brought before the Legislature so repeat
eciy' ana urged upon it with such imposing weigh,
OF statistical and other argument BY former exc
cuu'es; oy conventions Of the people interested;
oy committees Of your own body, and by euci-
heeis IN your service, that scarcely word is ne.
.eSsay 70 he now said in order to point out either
US necessity or ITS value. Let the grounds Of its
Sa'ue land that value constitutes in part its ne
cessi,y aiso)-le. these be reviewed, aud entire
oenndence VIII be extended IL tile opinion, tina,
VI ,he larger improvements heretofore projected
In The state, and yet 10 be made, there is no one
whose efficiency in creating as we'll as accommo.
oating both trade and haveI, would be more use
lu''y, immediately and extensively felt than this
one Ahere is no other which would be support
ed at present, or at all times, by denser popula.
"oh' oy richer country, or by larger or surer
accessions OF both commerce and revenue from
ABROAD. Connecting advan,ageously with east
crh tennessee, and through it with adjacent por-
oest OF all their inland avenues 10 the Atlantic
markets. and these markets must necessarily be
ei'her DaitlUore, Richmond or Norfolk. II the
hrst, then the commerce of these productive com
muntttes carried from end to end of our territory.
would profit us, ut least, to the amount OF the
expenditure required for its transportation
tiie slate' But 1t Richmond or Norfolk, in addi-
tlon to the Same profit, il would contribute essen.
t'aily TO Increase the capital and commercial i'm
porlance OF these cities, and aid them to become
what they ought TO be, large and prosperous south
erh mans Tor sale and supply. Looking away,
however, IRON all other consequences 10 result
from The construction of this road, and REGARDING
IL as mere auxiliary or feeder to the james river
and hanawha canal it is obviously of d value so
great DIS 10 justify lis construction upon that
ground alone, even if there were no other or
stronger one.
RAISING over the respective merits of Maca-
uahized roads and railroads, and all considera-
uohs OF the peculiar fitness of either over the o.
iher In Tins case, il may be added 10 other reasons
lot me construction OF one Of them through the
southwestern counties. that much and long as
NOSE counties have desired and needed it, and
lille as they have participated, for any object in
The expenditures they have contributed to suppJv'
'hey nave nevertheless consented through thrr
representatives, at critical moments for them
serves, 10 postpone their own interests 10 those of
o.her sections, and have patiently and willingly
since taken their share Of every burthen which
the further promotion of those sections was thouubt
10 require. with these remarks, submit The
subject OF this particular Improvement to Won.
earnestly recommending that YOU will speedilv
and generously provide for it.
ne remaining work enumerated as amonps,
those requiring the aid of the state is that com,
United to the James River and Kanawha Com
pany. This work has been regarded, and Justly
3d. iof more Than hall century, as the principal
one In The state, and hence it has been aided A.
gain and again by successive legislatures. with
peculiar and great llberaliiy. Not only is the
stale subscriber for three-ffths of the cap,,al
STOCK OF The present company. to which this WORT,
cohhded' but she has advanced ii large sums ont
oil her own funds, and has guaranteed the punc-
,ua' payment OF still larger advances which have
been made to 1t by others. The actual condition.
OF ,ie work and OF the company undertaking it.
is therefore a subject of habiluai interest to tho
legislature and the public HAVING treated some.
what mInutely of the formation and progress of
'his company IN my former message it will be
enough at present TO say, that when it was in
II was charged upon pain of forfeiture
win the duty OF completing, in prescribed man
ner, the whole line of improvement from tide wa
Ter al fichmond to the Ohio river, distance of
near 500 miles, within ~ wears after its first or
ganiza,on. Of the twelve years thus given. ten
have expired, less than one-,hird of the distance
has been finished; tie capital stock has been ex-
pended, and loans TO an amount exceeding mil
Hon and hall OF dollars, and now existing as an
outstanding debt against the company, have, it is
believed, been expended also.
Under these circumstances, the enquiry neces-
safhy arises, what is the company able to do TO-
wards The prosecution and completion of the resi-.
due OF i,s work 2 TO this enquiry il NAV be an
swered, that the means Of the company are three.
fold-its right to call upon its members for fur.
lher and voluntary subscriptions of stock--i,s
credit and its income. To The first of these means
the company has never yet resoIed, and could
NOT Is believed, In the present condition of its
ahatrs, with any reasonable probability of sue
cess 90 neither has 1t ever resored TO IFS credit
separately FROM the guarantee of the state and as
even that guarantee has not been sufficient at all
times TO protect 1t from injurious sacrifice, it is in
no respect probable that it would of itself be a
basis on which any considerable sum could be
borrowed.
AS TO the income of the company, consisting of
It's tolls and water rents, it is burdened with an
amount OF demand upon 1t already. which is al
most, II not altoge Their equal 10 lis capacity. The
ordinary and current expenses-the annuity of
twenty-oDe thousand dollars due TO the stock.
holders OF the old James river company-,he in
terest upon its million and four hundred
thousand dollars of guaranteed debt-tbe inter.
est also upon lis two hundred and fifty thou
sand dollars of state loan, not to mention small
er liabilities, have all Of them 10 be paid off be-
lore dollar of income can be applied by the
company to the resumption and continuation of
its work.
From this brief sketch, it may be confidently
assumed that the company has no means of its
own, and none at its command, with which it is
at all able to complete the unfinished part Of the
great work confded to its hands. In this situa-
ton OF things, as the abandonment of that work is
IN no degree possible, it is matter of no little
embarrassment to determine what is best to be
uohe' several different courses present them
serves, each OF which has its difficulties, and each
also IN some form, requiring the previous consent
oil The company. One Of these courses, is, that
the state, which is now the owner of three-ffths
OF The capital stock. and which either holds In