Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-01-16

hesitate IN MS chOlce. The state had already
been deeply involved by the canal, and its friends
should be careful not 10 appear in The attitude OF
enemies to all other Improvements The city OF
600 subscribed 10 this canal. If this road were
completed TO the Ohio, The city OF Richmond
would soon be enabled 10 pay off every debt ii
owed. He had little hope, with such opponents,
10 carrY'his point. He only designed TO explain
his views. He did not desire the delegation OF
an indefinite power 10 the Board of Public
Works. He would propose tina! The section Of
the bill objected 10 be stricken out BY the gene
raj law The Stale can, al any time hereafter sub
scribe 10 limited extent, il il thought proper TO
do SO. The subscription al this time, by the
State, would have given confidence 10 individu-
ais.
The amendments were Withdrawn and The sec
tons objected to stricken out on motion Of Mr.
SCOTT.
Mr.. LYONS proposed 10 amend the bill, by
requiring that the maximum rate Of fare on the
road should be. four cents per mile Tor each pas
senger. Carried.
tle further moved 10 amend the filth section Of
the BILL which authorized The company 10 expend
such portion of its capita not exceeding two mil
lions in the purchase OF property, and in mining
and manufacturing operations, SO as 10 restrict
this expenditure 10 one-sixlh OF The amount OF
The capital actually paid in or secured 10 be paid.
Mr.. BOCOCK doubled the proprieiy Of grant
Ing this power OF investing The capital OF the com
pany TO greater extent than one-sixlh ol me
amount actudNB paid in.
Mr.. LYONS hoped that this privilege would
not be denied The Company. The House had re-
fused to subscribe 10 The work, and now an eflofl
was made 10 prevent The Company from invest
ing more imam one SIKH OF the amount OF their
own capital actually paid in, for The purchase. OF
property, &c. There was no danger IN granting
Them the power thus TO dispose OF their own
means when the Stale would mol be responsible
for single dollar Of their capital. There were
various interests opposed 10 This work.
Some opposed 10 il from jealousy oil It's
great advantages, Others doubted OF rs prac-
'icabilily, while others again thought that
what was said in its favor was 100 good TO
be true The Company desired 10 invest por-
ton OF its capital in Western lands which were
now of no value 10 the Stale; expecting 10 render
them valuable BY means OF This improvement,
and 10 reimburse the expense of The construction
BY III. ir sales. Can This door be opened loo wide1
Is not the restriction already proposed sufficient
IF this policy be adopted, by Virsinia's moi
merely refusingto make improvements, but pre-
venting others from making them, she would he
not only an impeachment 10 The progress and growth,
but a cancer, destructive Of the very existence of
The body polite. Did gentlemen regard Virginia
as an invalid just recovering, that required 10 be
fed by degrees for fear OF plethora2 Were they
fearful Of 100 rapid recovery7 BY adopting The
restriction proposed, they would leopard The utili
" of This bill There mus, be some inducements
held out 10 capitalists, otherwise they would ro
he willing 10 nvesltheir means in this work. He
did not anticipate such policy. He expected
greater liberality from the Legislature of Vir-
gina.
after The road had been completed TO an increased
investment Of capital in property and for other
purposes. There was no danger in granting this
power 10 mining or manufacturing companies
This power was constantly granted in indepcnd.
ent bills In consideration OF The great outlay o
capital for work so beneficial 10 The entire State
they should be just and liberal in a1ording other
inducements than were 10 be derived from The
profits of the work itself. II this improvement
were accomplished, manufactures might make
up the deficiencies OF revenue derived from The
road. In less than half century, such a road
must become immensely valuable.
Mr.. DENlSON said, that the enhanced value
of The lands was designed as means OF raising
the capital Of the Company 10 certain extent
The advantages 10 be anticipated were very
great, and there was no serious evil 10 be appIe-
hended. With The present provision in the bill, he
had no doubt that the work would he successfully
prosecuted.
MIR. EDMUNDS was willing 70 grant an &C,
of incorporation for either one Of the purposes
specified in the bill, bu, not for them all conjoinl-
". The powers asked Tor in this bill were greater
Than had ever before been granted.
Mr.. COOKE could not see the force oihe OBJ
lection of the gentleman from Halifax. If The OBJ
jet of This company be beneficial 10 The State il
i, was 10 impose no additional burdens upon the
people, there was no propriety in throwing obsta-
Giles in their way, TO prevent them from obtaining
credit.
Mr.. BOCoCK suspected that the fate Of the
bill depended upon the adoption ofthis provision.
If The investment be limited to one sixth of the
amount actually paid and secured 10 be paid,
there was nothing 10 prevent them from securing
to be paid" fve.sixths OF the entire capital, and
thus investing the entire amour, actually paidv viz;
18th, in oher properly, and for other purposes
than for the construction of The road.
On motion Of Mr.. BCCOCK, the House ad-
journed.