The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-01-11

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Acomps,issn of prices ruling at the close Of the mar
kct yesterday, with those current At the close OF the
previous week, exhibits an improvement in Ohio Csc
u per cent; Reading Railroad, "; Norwich and Wor
csster, l; Erie Railroad old stock, IN; Long Island,
vicksburg, x; Morris Canal, X, and falling Of in
Kentucky e1 of per cent? Erie Railroad, now stock u;
Harlem, NJ Canton, u Since last Saturday Erie old
stock has advanced from 50 o67 and fallen back to 3d.
A'bl to incorporate a railroad company to construct.
railway, uniting the Potomac and Ohio rivers, has
been reported to the House of Delegates Of vrgna In
the of which the general interests Of the coun'
try deeply concerned; for, should such a road
be constructed, the south western population would
then have direct means Of communication through the
tho rich valleys Virginia. with their fellow czens on
the Atlantic shores We therefore hail the prospect Of
terrses of the times which will tend to cement
good und rsandng and kind feeling between the West
and Eastern sections. by afordng facilities for ira
yelling and transportation superior to any that we now
possess will give constant opportunity through all
Of the year, for commercial Intercourse and,
from the accommodation that will be thus secured,
greater equality of prices will be established than could
heretofore, have existed The business Of the
Southwest will find advantages, but little anticipated;
4 H.
goods of the best and latest fashions at the cheapest
rates. while the amount of capital requisite for this pur
pose, will be very much reduced Instead of making
their purchases in hespng up largo quantities of
stale goods their supplies will correspond, in quality
and quantity, with the immediate consumption To
these internal improvements, we are more indebted
for the contraction Of the credit system and the por
manent solvency Of the banks, than to any restrictive
measure, within the power of the federal government
to employ and from the very character Of the contract
ing operation this is infinitely natural and legu
mate because regulated by the rules OF trade itself The
influence which has tenued most to impair commercial
confidence between the mercantile people Of the difs-
rent sections, producing the most misehisvous
quencss has been the immense amounts Of credit,
coded without any discretion When this rail road shall
be constructed there will be accumulation of goods
credit, mode of purchasing always expensive the
wants of customers will then be supplied with scarcely
any delay uniting the facilities afforded by the magnetic
telegraph with speedy transportation and quick and
secure remittances
To Virginia this improvement will introduce
era the west will be filed with enterprise the wealth
Of a rich agricultural country will be Immediately
brought FORTH and such will be the progress OF events
that central and direct route to the Chesapeake
will be to follow In the mean time the commerce
which will be brought to the Chesapeake AID Ohio canal
and to the city Of Baltimore will give to the waters
Virginia and Maryland life and prosperity, the happy
omen Of future greatness.
The increased capacity of western Virginia to contr
butte to the general revenues OF the State might be fairly
anticipated to be sufficient prospectively TO authorize
the legislature to aid in the completion Of other
line of railway, which will present choice Of convey
ances to market 1t is, however, necsssary that
plan Of operations should be adopted which would
carry, its face feasibility and probability Of sue.
cess but should this not be done venture to predict
that Virginia will remain behind the age in improve
;nents in the degree she formerly stood consp
ouous for her gallant achievements in the war of nde
pendencs. There be mistake Virginia must not
to take advantage Of the present favorable osea
sion.
In the construction Of extension of the Baltimore
and Ohio Railroad, all directly interested and
for that purpose any amount Of capital can be raised but
not until this connection with the far west shall be con.
summated will there be any chance of obtaining pecu
mary for sectional lines from private contr-
buttons.
We have. heretofore, remarked, with much SURPRISE
the obstinate adherence Of the Wheeling people pro.
ject which never can be carried out ss II must be oby
GUS that the Baltimore and Ohio Company cannot con-
sssntly, accept the right Of way, granted at the last
session, for the line of their main stem II Is altogether
too indirect and circuitous too expensive inconsistent
and embarrassing adopted to crafty local end selfish
prejudices This legislation perfectly at variance
with wise counsel ought to be abandoned if for no other
reason than to save Wheeling from the imprsvidepcs
OF her own perverse efforts. If the proper line of
route be established, such a liberal policy would
dictate branch road to Wheeling would be the inevi.
table consequence, and that such be the ISSUE
thoy would have the guarantee of the common interests
of the Baltimore and Ohio railroad and the Chesapeake
and Ohio Canal Companies. There exist no doubt
that the cities OF Alexandra and Baltimore eorgetown
and Washington with Vrginia lying on the borders of
the Potomac and the Chesapeake bay, would enjoy grsa,
commercial benefits and advantages from an improve
ment Of such concentrating power and attractions Tho
business OF the canal in the transportation Of heavy
freight would be immenssy increased by the extension
efthe railroad to its legitimate point Of termination on
the Ohio river
From the view have taken Of the value of the zen.
eral importance of giving to the country direct South.
western road confirmed in the belief that the La.
gslaure of Virginia will udicously estimate ts advan
'ages, and consequently will be induced to exercise for
the benefit her accustomed intelligent liberal:
i,y II this anticipated course Of Legislation should pre-
val will afford another and strong additional evil
dencs that first impressions be relied tbsn
such formed through the interfering perscvere-
rance Of selfish and contracted considerations At all
events the culties which have been thrown improvi
IDENTIFY in tha way Of the Baltimore and Ohio railroad
company have succeeded in shntngout the light from
Western Virginia. and 10 considerable extent paralyz
ng Tie prosperity ofthe whole ancient dominion
ora stock Exchange.
10 am Ohio &c % shs Harlem