Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1847-11-30
THE RICHMOND ENQUIRER.

IklSllllol ND A4S
deserted old-feds with an industrious population,
whose posteri,y al least under the Tenovaling III
1uence Of free institutions, may become Wnole-
some and valuable yeomanry -no1Wiihs'anuins
the indiv dua preferences oil The board, repeat
whatever may be your final cecision on The sun-
jcci, they will oil cou sc aim lailniuiiy 10 carry
il into execution as far as il shall seem good IN
the eyes oil the Legislature 10 place The means ol
doing 80 within their control.
But | deem il my duty 10 caution the stock
holders against entertaining for moment pro.
position looking TO The surrender 10 any other cor
poraion or 10 The abandonment OF the execution
by The company OF A siusle foot of our line from
lidewa'er To The Ohio. Be il remembered that We
have possession. or have the chartered right 10
take possession of line viii, h, Tor The purposes
al an avenue from The Ohio 10 the scaboard, is
acknowledged 10 be The best yet discovered be.
tween the S.. Lawrence and The Cult OF Mexico;
and one which, il il had been opened quarter oil
a century ago, when New York was engaged in
similar enterprise, would, verify believe. have
enabled Virginia 10 retain her former proud pre-
emnence among The States OF The Union. We
hold most liberal charter, and, what is more, it
is secured al least for d. zen years 10 come; We
have an organization proved by experience 10 be-
efficient for every purpose required; We have
works which, as iaras they are completed and in
operation, NAV safely challenge comparison with
any works Of The same class in This country; we
have large amount OF real estate held by an alb
solnle and perpetual tenure, subject only TO the
liens OF The Stale, who is herself large stock
holder; we havea growing revenue, as has been
evincrd by The favorable financial report which
have had The satisfaction 10 lay before you; and,
more Than ALL thanks 10 The wisdom ana patriotic
spirit which guided The councils Of the last Le-
sislaiuIe, we have The means Of completing the
EasteInterminus OF our line, and ot extending il
weslwardly into the centre OF the itch valley OF
Virginia. Those objects once accomplished, |
trust that The improvement by means Of the in
creased trade which il will create and receive,
will demonstrate its own vitality, and that, in con-
sequence, the Legislature will see proper 10 con-
lnue The safe policy OF affording 10 The company
lie credit Of the Commonwealth. as to enable
US gradually 10 carry the original plan OF the en-
terprise 10 completion.
II is True that this company has had 10 pass
through rough times and most appalling difficult
ties-lrOm which, indeed, we are not yet entirely
relieved. No one unless intimately conversant
with its concerns Tor The last eight years can lul-
Iy understand those difficulties, or Ct will add in.
cidenlaily) can truly appreciate the worth Of the
man whose undauned and uniring energy in The
conduct ol lis affairs enlille him 10 the appel.a-
tion Of 'the pilot who weaIhercd the Storm" al.
though in doing so, as last resort, he sacrificed
himself with Roman devotion 10 its fury. But in
view OF all The advantages which have enume-
raed, take occasion 10 say, that il is now TOO
late any longer 10 reileraie The off repeated asser
lion, that we are bankrupt and powerless cor
poralion, occupying PROSTATE and degraded po-
siIion. In my humble judgment, we are as able
nd plaio re
as any Other company YET in existence or even
in embryo, who may kindly or ambiiously pro-
pose 10 relieve US OF The task. Thus much, am
sure, MAJ be said Without necessarily implying
spirit OF hostility or oppIession towards other en-
lerprises which do not encroach upon or threaten
the company's rights; whilst in reference 10 all
such 80, attracted BY The great superiority OF our
line, may exhibit, either by overt acts and decla-
ralions, or by The necessary tendency of less
lraceable policy disposition 10 appropriate any
portion Of il 10 themselves, determination on
the part OF The company's friends 10 hold The de-
iensivr, and 10 maintain its rights, whether char
tered, prescrip!ive. implied or appnrenant, must
OF course be conceded 10 be jusliliabe.
In conclusion, beg leave TO congratulate The
stockholders npan the improved aspect oi The
company's affairs. The gloom that has so long
ovcrshadowei us seems breaking away, and
trust, therefore, thai we shal hear no more OF
surrendcfno our charter, and being excused from
carrying our improvement 10 completion; but
lha, gathering fresh hope and confidence, We shall
feel our resolution strengthened 10 push steadily
forward with The enterprise committed 10 our
hands, well assured that although from its magni-
iude, and possibly from political causes affecting
Inc finances OF The country, our progress may DC
slower than We could wish, yet The end once
reached the rewaTding harvest will be commen
surate with The toll and sacrifices BY which il
shall have been secured.
All which is respectfully submitted.
w. 5. CHITTENDEN, President.
22d November, lS47.
PosrscRlpr-Sincc the body Of my report was
sent 10 the press, the tidinss from abroad, BY The
steamer Acadia, have proved 10 be frariully con-
firmaory OF the apprehension ~ which nave
'L-- r''-"-'rd toll ~ d. n""'d d.
ring The past summer, Of an approaching tlnan-
cial crisis unusually disastrous in its character.
The Eoaid have therefore requested me 10 call
The attention of the meeting especially 10 this i'm
porlant subject, with view 10 elicit from The
stockholders, aler full examination and free in
lerchanse OF sentiments, an expression OF their
opinions, ,uhefAer under The present aspect OF
things, The Board ought 10 proceed 10 place IN
der contract the twenty miles oil canal between
North River and Buchanan, and The lidewaer
connection, in The latter pan OF The next month";
according 10 The advertisement of The chief en2i-
neerlo that effect, now before the public; or whe-
tcr il will not be more cxpcdient 10 decline, for
The present, 10 commit the company 10 greater
amount OF expenditures (basel upon anticipated
sales the Stat. stock provided Tor The purpose)
Than is involved in the contracts which have al
ready been made w. B. CHITTENDEN.
22d November, lS47.