Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1847-02-22
For THE ENQUIRER.

For THE ENQUIRER.
To the Members Of The Virginia Legislature.
your attention is mos, respectfully called 10
substitute 10 the James River Bill, presented, by
General Dorman, to The House OF Delegates on
Thursday and ordered 10 be printed. II propo-
scs 10 loan 10 the James River and kanawha
COMPANY certificates OF Stale Stock TO the amount
of y .236, 900, 10 be paid in inslaments running
through the next four years, Ia sum sufficient 10
complete the Canal 10 Buchanan,) upon The COM
pany executing morlage upon all its property OF
every discription, To secure The payment oi the
principal of said certificates ol stock and The semi
annual interest, and filing with the Second Au-
dor lis bonds in the aggregate penalty oil S2o0-
900, with good security OF persons or bodies po-
itic and corporate; guaranteeing that The tolls
upun the whole line ol The Canal from Richmond
10 Burhanan shall annually average The amount
OF S1CO, 900 for FIVE wears, commencing three
months after the Canal shall have teen compile
tel and put in operation, from Buchanan 10
Lynchbnrg and obligating The security, il The
tolls should fall short vi The said amount Of $780,
600, TO pay such deficiency.
The average gross amount OF tolls upon The
canal. between Lynchburg and Richmond, during
The last four years is us SOB dollars, and The in
terest upon the proposed loan 10 The company will
be "A, 100 dollars per annum, making The sum OF
$50 la3 dollars nearly 10000 dollars less Than
The annual amount fos proposed 10 he guaran-
iced. In other words The proposition is 10 guar
antee an annual increase OF Sf03I dollar, ol
toll, upon the average amount OF The tolls Tor The
last hour years, which is about 10000 dollar, per
aunum more than The annual interest upon The
loan provided hy the bill. Can the Legislature
reject 90 Just and liberal proposition as this Of
The peopr vi Boteloun2 Could that people give
slrou Ger evidence ut their confidence in the great
increase 81 tonnage upon The canal, as conse
ouence oi extending il 10 The great iron and agri-
culura region OF The Stae1 Or could they give
more conclusive evidence of their devoted aach-
menl 10 The Old Dominion? And will The Le-
eisla,ure, al crisis like this, when il is so lmpor
IA nj that all the Southern States should present
an undivided front, drive them 10 despair, by re-
fusins so reasonable and just request Some
have EXPRESSED doubt whether the security can
he given. There is not doubt on that subject.
The guarantee, with ample security, will As GER
,ainly he given by The company as you pass The
law. and The following statement will show that
there i no danger in giving the guarantee. The
manufacture OF pig iron in The counties OF the
Valley on the walters OF the James river will be
increa,. this year 10 II 600 tons, OF which al
least 10 600 will be shipped Oh The James river 10
Richmond, which al cents per ton per mile
(which toll il will bear when The canal shall be |
completed 10 Buchanan,) will, on 200 miles OF |
canal amount 10 $50 200 |
From which dedurt the tolls on 1000
IONS, the average tonnage Of pig iron ship
ped from Lynchbur2 10 Richmond during
The last four Yeas, al | cent per ton per
mile. $500