Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-12-03

10 recommend that the recommendations cf Inc
Beard be carried into effect.
The construction oil road iron the James river
TO Tennessee, passing through the Soail'- western
counties, and connecting their intercourse ana
trade. together with The Intercourse ami trace, IS
far as possible OF the ncighboring States, win Tie
routes of the James river and the Valley, has been
brought before the Legislature so repeatedly, ana
urged upon il with such imposing weight OF status
teal and other arguments, BY fomer Executives, by
Conventions Of the people interested, oy commit
tees of your own body, and by engineers IN your
service, that scarcely word is necessary 10 oe
now said in order Ia point out elmer lis necessary
or lis value Let the grounds Of lis value lana
that value constitutes i'll pant lis necessity also)-
let these be reviewed and entire confidence VIII pe
extended 10 the opinion, that OF the larger iin-
proyemenls heretofore projected IN the stare,
and vet To be made, there IS no one whose ciii-
cheney in creating as well as accommodating Gotta
trade and travel, would be more useiully, lmme
dalely and extensively felt than this one. There
is no other which would be supported at present.
or al all times by a densef population, ny Tich-
er country, or by larger or surer acceSsiohs q
both commerce and revenue from abroad connect,
ing adyantaseously wilh Eastern Tennessee, and
through il with adjacent portions Of other
States. il would be the nearest and best OIL all
their inland avenues 10 the Atlantic Inafheis
and these markets must necessarily be eilher
Baltimore, Richmond or Norfolk. If The hTst,
then the commerce Of these protective coNilnuh'
Ties, carried from end 10 end oil our terFholy,
would profit Us at least 10 the amount OF inc ex-
pendilure required for lis transportation through
the State. But If Richmond or Norfolk, III al
dilon 10 the same profit, IL would contribute es
sentially 10 increase the capital and commerciai
Importance OF these Giles, and aid them to become
lp llro
Southern masis for sale AMI supply. Looking
away. however, from all o.her consequences, 10
result from The construction Of this road ana re-
yarlng il as a mere auxiliary, or feeder 10 The
James River and Kanawha canal, ii Is obviously
OF value so great as 10 JUSTLY It's CONSTRUCTOR
upon thai ground alone, even il there were no
other or stronger one.
Passing over the respective merits OF Macada-
mixed roads and railroads, and all considerations
of the peculiar fitness of either over The other IN
dis case il may be added, to other reasons Tor The
construction OF one of them through the South
western counties, that much and long as those
counties have desired and needed il, and little as
lhcv have participated Tor any object, in the tx
pcndilures they have contributed 10 supply. they
have, nevertheless, consented, through their re-
plcsenaliveS al critical moments Tor themselves,
IL POSTPONE their own interests 10 those oil other
sections and have patiently and willingly since
taken their share vi every burihen which lie FAR
Their promotion OF those sections was thought 10
require. With these remarks ] submit the sub
ecl OF this particular improvement 10 YOU. ea.,est-
~ recommending that you will speedily and gene
rouslv provide Tor H.
Tie remaining Work, enumerated as amongst
those Iequirn" The aid Of Tie STATE, is tha, COM
mi,ted 10 the James Rive. and k;nawha Compa-
ny This work has been regarded, ard Justly so,
tpr more than half Il century, as the principal orc
in The State, and hence il has been aided again
and again b. successive Legislatures Wih pecu-
liar and great lihara.,v. Not only is the State
subscriber for thrce-litihS of the caDia .toch Of
The present company, 10 which this wolk IS con-
i!ed but she has advanced il large sums ont OF
her own funds, and has guaranteed the Puntual
payment OF still larger advances which have been
made to il by others The actual condition II The
work and OF the company undertaking il, Is there
fore subject OF habiiua interest 10 the Legsls-
lure and the public. Having treated somewhat
infinitely Of the formation and progress OF his
company, in my former message, il wll tc enough
ii pfcsen, 10 say, that when Il was incorporated,
il was charged: upon p:in Of forfeiture, win The
duty OF completing III fle,cribed manner. tie
whole line OF Improvement, from udc-wd,cr al
Richmond 10 the cio liver, a distance 0! near
five hundred miles, within twelve years le- il
iirst organization. OF he twelve years TINS ei-
ven, ten have expired: less han one third Of the
distance hGs been finished, the capital stock has
been expended, and loans o"n amount exceeding
a million and a hall OF dollars. and now existing
as an outstanding debt against the company, have
been expended also.
Under these circumstances, the enCaily neccS-
sariiv rises, what is the company able 10 TO TO-
wards the prosecution and completion Of he resi-
due OF lis work. To this enquiry il may be Az
swered that the means OF the company are three
fo!d-,is right 10 call upon lis members 10! fur
Their and voluntary subscriptions o! slock-its
credit. and lis income To The first OF these means
The company has never vet re>oicd, and could
nc; il is believed, in the present condition of lis az
fairs with any reasonable probability Of srcccs>.
So neither has il ever resortcd 10 It's crodi snpa
Ia,ev from the guarantee Of Inc Stat. and as
to DrSec haf n hesn t safenl Il q H rs
respect probable thai i, would itself be basis
on WATCH any considerable sum could &c Dor
rowed.
As TO the income OF The Company consisting
of lis tolls and wafer rents, i. is BIZ dcned with
an amount OF demand upon j; already, which is
almost, if nol altogether equal 10 lis capacity
The ordinary anu current cXpenses-ihe annuity
of lwcn,v-one thousand dollars due 10 the stock
holders olthc old James river Comfany-'Ae inter
es. upon it: ono millit n and ionr hundred thousand
dollars of guaranteed dchi-the interest also up
on lis two hundred AMI fifty thousand dollars of
Stale lOan rot 10 mention smaller liabilities have
all of them 10 he paid oil before 4 dollar Of i'll
come can he applied by the company 10 the It.
sumption ard continuation Of lis work.
From hi brief sketch. il may he confidently
ASSUMED, that the Company has no means Of is
own. and meme at It's command, with which il is
al all able TO complete the unfinished pait OF the
grca, wori, conided 10 it hands. In this situation
of things, the abandonment oi that work Is in no
degree possible, it is matter Of no little embaT
rassment to determine what is best 10 be done
Several different courses present themselves each
of which has its difficulties and each also, in
some form, requiring tho previous consent Of the
company One ofthese courses is, tha! the State,
which is now the owner of three -iiflhs OF the ca
piial stock and which either owns in lis own
right or is bound BY the guarantee for the out
standing debt of The company shall buy out
the other shareholders at some agreed end
equitable compensation, and then 90 on 10 finish
what is &c; 10 DO, as iisJutsment and ability may
direct.
Another is, thai the State shall divide The line
of improvements with The company, leaving to it
all that il has been able 10 finish and taking upon
herself the completion of The residue. Another
is. that the Stale shall advance such amount of
funds TO the company as shall enable it 10 finish
either some particular and suffering parl of the
work, or The whole of II.
After comparing these several plans with one
another, no one Of them appears, upon the whole,
to be 50 suited 10 The actual necessities OF The
case, so little perrlcyed with practical difficulties,
or so consistent with The general duties OF Stale
10 her people, as that OF taking back, with the
consent of the company, such par; OF the work
undertaken BY il as it is unable to accomplish, and
leaving it in the fnll possession and enjoyment
of every dollars worth which it has actually done.
By This arrangement, the company, on its part,
would relinqui>h in effect nothing but lis difficult
ties II would relinquish It's struggles 10 accom-
pl;sh an improvement 10 which lis means are IN
equal and would at the same time retire not only
with quiet title TO such portion of the work as
il had been able 10 do, but would have the profits
and tie value OF tina, portion greatly enhanced by
the execution OF the unfinished part al The expense
OF another. Bythis arrangement, also, the Stale
h-viner tho entire command Of Inc improvement