Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-01-27
Far Tie enquirer

FIR Tie enquirer.
Mcssrs. Editors There is contest now going
on in the Legislature between the Portsmouth
and Roanoke Railroad Company, and The Peters
burg and Roanoke Railroad Company which
must decide in future the progress OF internal i'm
provemenls in Virginia. The Pc elsburs Road
was the first railroad built in this Stale, and
made fair dividends, some years as great as eight
or Ten per cent, Of which the Stale received its
portion two-ffths OF the whole until the construc
lion OF the Portsmouth Road; then the dividends
were no, only reduced TO almost nothing, and
part OF The line suspended bu, the Stale had ac-
Iuaily 10 advance money 10 keep The Road from
failing, which advance or loan The Stale was
obliged 10 convert inlo stock Of The Road, the
Road being unable 10 pay its bonds thus max
ing lbe States interest i'll the Petersburg Road
nearly equal 10 one halt Of the whole capital
Nor is this all. The Stale has been Obliged also
10 advance a larger sum 10 the Portsmouth Road,
10 aid il to continue running; which advance
was entirely exhausted, and the Road hopelessly
involved in debt to other creditors han the State
before Mr.. Rives made his pufchasc so that The
States aid was again indispensable 10 enable that
Road to continue its operations. Since the sus-
pension Of its operations for The want OF such add
tional aid, The Petersburg Road has resumed the
payment 10 the Stale and stockholders OF fair d.
vidends, without any increase Of The tariff OF tolls.
II will moreover be seen, by the annual report
made by tie President and Directors OF the Board
of Public Works, that The Portsmouth Road in
no wear received from the transportation oil pre-
duce sum sufficient to pay one-hird Of lis cur
rent expenses therefore, The Stale has encounter
ed nearly all This large outlay OF money in the
Portsmouth Road 10 accommodate the way ira
vel. The reason why SO lille produce was car
ried on that Road is, that there is steamboat
and other navigation from Weldon, North Ca
rolina, The Southern terminus OF the Road, TO
Norfolk and Portsmouth, by the Dismal Swamp
canal company, in which the State ! as large
amount inves;cd-and il is worthy OF notice, that
this canal company, long unprohtable, has re-
snmed paying dividends 10 The State since The
Portsmouth road has gone down. ] earnestly
submit it, therefore, 10 those who represent the
agricultural Interests of Virginia, especially
those from The West, who Of necessity feel deep
interest in the advance of internal improvements
whether they, by rechartering he Portsmouth
rosd. will emtarfa>s The system OF internal I'M
prove meDts-deprive the Stale OF The large an
nua income from The Petersburg road OF some
go 600 and six per cent. per annum on me
States stock in the Dismal Swamp Canal Com
napv-bOth OF Wnlcn, Whlie Tue Toi'StHoutn
road is not in operation, will yield sum sum
cienl TO pay the interest On such loan as may De
required for Western Improvements, until they
are in situation also 10 yield something where.
by both debt and interest may be ultimately paid
off. without resort 10 an increase OF taxation.
/ am a friend 10 Internal Improvements, and
heard The recent debate on This subject before the
Committee on Roads. caution, therefore, the
AGRICULTURAL interests and their delegates, not 10
sanction the rechartering and sale Of the Ports
mouth road thus making higher taxes necessary
The State being deprived thereby Of It's Large NJ
come from The Petersburg road and canal compa'
nv and especially as The State must, By sale DC
thrown inlo much litigation by those who urge
sale, and claim priority over her from me pro-
ceeds under mortgages from the Portsmouth com
pany, and may, when she has s'ld out; receive
nothing by sale. rAn"H"'