Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1848-01-11

less in.a neibe 10 those who come after u.s. This
I halfway policy has been The constant legacy from
one Assembly 10 the next, until il has come 10 be
considered kind Of entail too sacred 10 be bro
ken in upon. This is the only kind Of consis-
ency which has been shown, and even this has
been (happily) abandoned OF late years, or rather
signs OF lis abandonment given. Yet decision
and strict adherence 10 system are wanting yet
all the celebration, discussion, patient inveSIiga-
lion, and impatient e!oqnence, which have Tor
years al once testified and acknowledged the
strength o! the popular feeling on this great subject,
have failed OF any definite end
"And thus the native hue OF resolution
Is slckiied Ger with the pale cast of thought
And enterprises OF great pith and moment
- their currents turn swry,
And Lose the name OF action"
II was one man VINO, in New York,s cores
pondenl crisis, by The energy OF his own will. and
his own unlnchng perseverance in the course
marked ouI before him, and those for whom he
worked, By Nature, directed his State into the parh
OF prosperity she has ever since followed To
attain similar resu Is in the same way-and [
know no other way OF attaining lhem-we mus.
have the same unity OF within short, act a, one
man. |, is true that this is easier TO be talked
about than TO be accomplished; but il is no, SO
difficult OF contamination, as it will always
be, so long as we are guided BY detail in
stead OF principle, and hesitate 10 adopt and
| comm! ourselves irfeyCcal!y 10 centre Tor our
system. And how will We be more likely 10
give shape and concentration 10 our views and ct
forsi han by remaining rue and giving fna effec
TO the only definite IDEAS which the public mind
has fastened on since The general question was
first asiialed? These are simply to connect The
East and Yves; by The line of James River, the
line most Central al once 10 our State and The
I Union, the only one on which The Aeshanies
have been Prored practicable North OF Georgia
Il count Tor nothing he inclined planes 0. Penn.
sylvania, on which the charge is cents Der ION
per mile and, moreover, The only line which can
fully test the advantages OF such Improvements
III slave Stale.
The course ihen which am convinced the
Legislature will find mos, expeGien in The end
and hope it will find ii so now is The adoption
by the Comm nwealih OF the James River and
kanawha Improvements, and It's immediate pros
ecuion between Buchanan and The Ohio to The
exclusion, until il De completed, Of Stale assist.
ance 10 any other line whatever, except those 10
which i, is now pledged. II The EXHIBIT which the
Governor gives OF The Stale's financial ability be
not too catering, and G10G09 dollars could be an
nually devoted to this purpose, The entire line
could be completed within eish. years al n cost,
according 10 the estimates OF $50 600 dollars
This sum is distributed as follows: Tor the ka-
nawha River 10 Soup Shoals 40 900 dollar:
railroad thence 10 Cuvia2Ion (wi;h the broad
suase, now | believe fallen into disrcpute)
100000 dollars; and add for he continuation OF
the railway 10 Buchanan, which would seem TO
be preferable 10 canal lhefe, 25 0G0 dollars Der
mile, or 100000 dollars. To procure 800 GOO
dollars annually, over and above the surplus reve-
nue., would require an annual addition 10 the sum
borrowed, equal 10 the interest," upon the preceding
years, unless lnceed, as Is iul likely. his charge
Could be fully met by he nett returns from por-
lions OF he work successfully completed and pul
IN operation. Assuming his TO lie the case, the
interest 10 be paid alter The complexion ii the
work would be short OF 100 600 doIIats--a sum
easily produced bT one-lhirl Of Ihe trade
which may reasonably BE- anticipated. Most OF
the pGeseat stockholders would BE- ready 10 trans.
Ter their shares 10 The Sac in consideration oi a
perpetual annuity Of g per cen. 10 commence
- years alter he transfer Tn.> annuity w.uit
he Si2U, 600, and with il Inc present .ett> Of the
Company would tall upon the Sale. Bat lie
Company'S clear revenue is sufficient ow 10 pay
the interest on this debt, and il at future day the
continued siagnalion OF the works should make
Il insufficient the greater part OF the loss would
fall upon the Stale as principal creditor and pIin-
cipal stakeholder, and Then the dern,er res0rt OF
ioreclosing her lien upon he work would bring
ner 10 precisely The same thing now proposed, al
ter long time wasted in delay and The certain
failure OF one if not two years interest. This
miserable alternative will be obyia,ed forever by
facing il al once, and placing the Improvement,
by It's completion under the Sole control and for
the sole b:net OF the State, on heishl of prospe-
ri!y and independence from whence il may look
'own with contempt upon The thousand intricate
obstacles and no less intricate experiments which
ieitered its infant steps. In few words. il the com.
pany in lis present condition Should tail, the State
must bear all the loss-if successful, il receives
but portion OF The profit. | have never heard
our system called anything but safe fnanciering;
dnd II rIghy understand it, il does no, even
deserve that epi.he'. II is true that a speedy i'm.
pEovement in the Company's prospects is prom.
ised by The extension 10 Buchanan, bu, this falls
exclusively upun The credi; Of he Common
wealth. ard brings her an increase OF risk with
out Propo!iionale increase OF profit. Each sue
cessive advance towards the West, must !end 10
rive and establish more firmly this state Of things
and the very success Of Inc enterprise will 70
against the State, Government OF course,) Tor
the company will have The power OF 1ayins lis
debts 10 the STATE a. its own pleasure: until wnen
the Company has reached The Ohio, it will show
Stale debt OF or 8 millions, On which The
SAFE cannot receive over 6 per CT while The So
100000 nominal capital 81 0O0, 900 OF it private
s'o-k, will be an incubus on the whole, govern.
ing The whole, and limited 10 lis profits only by
the profits OF The work. Thai these will be vast
and regularly Increasing, even The present e1pe.
rience OF The work lends 10 show. If the Stale is
TO e1peud this amount, j. should be for her own
Dement, and not that OF body OF men who have on
~ one filth OF her interest in The investment.
The Governor says: "The Legislature al their
las' session, passed acts which n,au increase the
Liabilities OF The State 10 The sum OF 81 sS7 600 -
This sun gees 10 the Danv;lle Railroad. The
James River and kanawha COMPANY, the Lon.
lisa Railroad, and he Alexandria Canal. with a
lew minor works, urnpikes, &c. OF The whole
amount, II may be considered almost certain that
only about 81 2o0, 0C0. including the $500 900 of
DanvIlle Railway stock, will be an actual and
unp!oducive addition 10 the pubic 6ebl. In
other words the interest only on that sum will
tall on the Treasury. The actual surplus
| according TO the same document, will be
al The end Of The present fiscal year, $4,000
dollars, exclusive OF 95 600 dollars already ap.
| proprIated 10 the Southwestern road and a lew
country roads. And what is 10 be the destination
Of this surplus2 Is j, 10 be, more n,oj0rum, sunk
in mud of lnrnpibes. or embarked in me shape o;
| Rwrs bridges OF The next freshet the Heaven.
may favor Us wills Ii SO TO be disposed OF, our
having any surplus a, all produced By taxation is
crying injustice. Money 10 &c expended local.
| ly must be so raised. Nothing can Justly the
abstraction from the people OF larger sum than
is absolutely acquired for the ordinary expenses
ot government, unless the benefits 10 &c derived
from It's disbursement; be as equally and inn
partially distributed among them as was its con.
tribulion; and unless further be certain ha, the
| government can employ il for their own good
mere Judiciously Than The people themselves -