Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1846-12-17


icy which will build up our State--and unmintful |
of that common sense that should ever govern great
public interests, yield to foreign corporation the
night to penetrate into the heart Of our State. and
draw therefrom her vital blood 2 am however.
satisfied, gentlemen, that your Legislative history
slil never be illustrated by act SO fatal to the
best Interests OF our State. But, it is my anxious
hope that you will proceed with all proper despatch
to the commencement of the two great works
have recommended by the first, connecting this
Guy WIN the great emporium OF the West and
bringing them within FORTY hours of each other
by the second, connecting the tide of the Allan
tic with the currents of the beautiful Ohio the
one, ultimately. by branches down the Roanoke and
the Valley to an intersection with the road from
Sordonsville, and the other by branches into the
Northwest, satisfying every reasonable want of the
great sections of the State. Both without rivals IN
be regarded, and accommodating throughout their
long and magnificent course the varied productions
of the richest country upon the earth, would FIJI our
treasury, and pour constant streams of wealth into
towns and cities, which would soon enable
them proudly TO rival the proudest cities of the
world. Nor is this all the vast amount of mo-
duce which would flood our markets would neces
sarhy produce an immense navigation interest.
Underwater Virginia would become shpyard.
Her population would build our ships. own and
sail them. and all would feel the tructifying in
fuence Of this mighty trade. Virginia would be
prosperous, and would soon become rich would add
TO her high moral power the indispensable element
OF numbers, and would become great and
would then be, what every Virginan must anxious
ly desire, Independent. This is no fancy sketch.
Inc results oil these important Improvements will
prove more striking than | have depicted them.
Like causes produce like effects In 1876 the
whole real and personal estate of the CITY of New
York did not exceed eighty two millions of dollars
In 1925 1t was only about one hundred millions
In that year the great New York Canal was opep-
ed and IN ten years the population of the city of
New York was nearly doubled and her wealth in
creased to two hundred and eighteen millions of
dollars. And up TO 1871 she continued TO increase
her wealth at the rate of 81 per cent Der wear.
notwithstanding the destructive fire with which
she had been devastated, and the monetary crisis
through winch the country had passed. But i'm
the latter year the great Western railroad from,
Boston, which New York had imprudently allow
ed to be extended to Albany, had been opened and
the effect (and l wish all who love Vironi, IN
mark ny has been to reduce the increase of The MN
ulatlon OF the city of New York to one and \ mar
ter per cent, and actually to diminish her wealth
one and one eight per cent. per year. Bit while
New York has declined, Boston has increased her
population from $4,000 to $4,000, and her wealth
from "a, 100000 to l35, 600 900 of dollars in the
short period of four years
The extraordinary results that have followed The
completion of the great New York Canal. and If
the great railway of Massachusetts, are well calcu
awaken
dullty. In ten years after the canal is opened n
York city more than doubles her wealth and in
Tour years only after the opening of the Western
Iailway, Boston has increased her population about
% per cent, and her wealth over forty per cent
And alter deducting from these amounts sum suf
hclent to cover their average previous progress. a
balance will be found in those respective cities much
more than sufficient 10 cover the whole outlov in
the construction of those great works, and thai
without any regard to the increase of wealth and
population on the line of the improvements And
1t establishes the soundness of the opinion which 7
nave often expressed and here repeat, that Eastern
Is more interested than Western Virginia i'm the
speedy construction Of our great works.
10 briefly rcstate my plans: | propose and re-
commend railroad to commence at Buchanan and
TO proceed to the Tennessee line Of course SUPER
seding all inferior improvements on the route And
propose and recommend that the Louisa Railroad
from GordCnsvllle, be pushed into the Shenandoah
valley without delay. and that critical, instru-
mental survey OF the Northern route which have
designated, be forthwith made | cannot doubt its
pracilcability. The great Massachusetts railroad
overcame, III the distance of about two hundred
miles, an elevation of about 400 feet and I am
encouraged to believe that more serious difficulties
will not have to be overcome in the accomplish
ment of this great design
In the construction of these works the strictest
economy should prevail. Expenditure should not
be large enough TO disturb the prices of labor and
provisions. Any expenditure will stimulate indus
try, and increase its productive powers This ex-
cess OF production will supply the unusual demand
IT the proper limit on expenditure be adopted, and
these improvements will then progress under ad-
vantageS unknown to similar works.
propose an expenditure of half million wear.
only, TO be divided between the two works. This
divided expenditure will powerfully tend TO pre-
vent an upward tendency in prices, and secure the
construction Of the roads upon terms much below
the experience of the country. In two wears the
improvement from GordonsvilIe will have reached
the valley of the Shenandoah and in the same
time the Southwest railroad will have passed the
coal and iron regions Of Boetourt and i'm the in
creaslng revenues OF the James River Canal and
the Louisa and Fredericksburg railroads we should
begin to reap some of the fruits of our enterprise
giveit as my opinion, that the increase of revc-
nue. which these improvements would in different
ways produce, would, after the outlay oftwo years
pay the interest upon ali the loans required for their
prosecution.
propose to provide for the expenditure which |
have suggested by an annual appropriation from
the Treasury OF two hundred thousand dollars and
an issue of State bonds for the balance The Urea.
sury can easily be put into condition to meet this
demand upon It, Without some extraordinary
charge upon the Treasury, we shall have sur
plus, on the first of October next Of upwards OF
$50 600, which slight increase OF taxation on
certain subjects, which have heretofore mention
ed, would swell to $500, GOO, and thus place our
Treasury IN condition To meet this new re1usition
The bonds would present no difficulty. Our State
credit is in the best condition. and our bonds could
be easily disposed of at par, and under favorable
circumstances at a premium, to foreign purchasers
But have no idea Of giving them TO that desti-
nation. They are a fayorite Investment with our
fellow citizens, who already own more than half
of our present debt. | believe that we have n
floating money capital among us which would
greatly absorb the whole issue And &c Ibis r,n