Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1849-08-24
CANALS AND RAILROADS.


CANALS AND RAILROADS.
Some four years ago, when venured to raise voice
in favour OF the proposition that canals are superior to
railroads for the purpose Of transportation we well re-
member that difficult to withstand the ridcule
which unpopular an opinion excited Canals were
every where said to be behind the age The railroad
panic had then spread itself to this country from England
where Hudson, the greatest mpostor ofany age all
his glory head OF half the companies in the kingdom and
member of Parliament to boot Public speakers, in
railroad meetings. sometimes asserted that canals had
grown obsolete in England that the companies were
drawing off the water from the best OF them, and laying
down railroads along their banks. Mr. Peter Clarke
even had the audacy to come to Virginia, and tell the Lee
gislature that he would make railroad from Richmond
to the Ohio they would only give him naked charter
and the right to purchase world of wild lands in Western
Virginia. the Legislature had the folly credit his sneerty
and Mr. Clarke and his railroad have since been heard
othough we venture to say, he feathered his well
enough with the opportunity he got (which all he
wanted OF using his empty charter further his land
speculations Mr. Clarke fourished amongst when the
canal policy at its lowest ebb in Virginia But time
The terrible railway revulson in England re-
vealed the fact that runous errors could be committed by
making niudicous investments in railroads The deve
lopement made that instead of having fallen into dis
use the English canals had better maintained their traffic,
the value Of their stocks and the OF their div
dends than the successful railroads competing with
them The great and sagacious State of New ork was
seduousy adhering her policy of sustaining the
Erie Canal, and the canaliu pouring about mil
lion of dollars per into her treasury whilst the
of transportation upon not more than one
third of the the finest railroads in New England
The important disclosure also made that the Reading
Railroad, in Pennsy lvania, which, with its immense coal
trade and favorable inclination in the right direction had
been constantly pointed aproof that the railroad
superior the canal had sunk millions of dollars in its
competition with the Schuykl Navigation and was at
last constrained to enter upon compromise. Facts like
these soon caused public sentiment to take another turn
Canals again into favour, and the State of Virginia
induced to lend her credit to large loans for the pur
pose ofprosecuting the James River and Kanawha to
Buchanan and continuing the Chesapeake and Ohio Ca
nal to Cumberland Wedonot to say that railroads
became unpopular the number of appropriations made by
the Legislature for works of that character would reute
such assertion But we believe the opinion has now
become almost general that the canal is by Of its
durability, and the cheapness of its annual expenses, by
far the most useful and efficient mode Of improvements
whilst the railroad s in point Of cheap Transport
tation (Which the great desideratu) and should there
fore be constructed wherever impossible construct
canal. ~ 80
We find the following interesting remarks on the COM
kill Navigation and on the general question between rail-
roads and canals recent letter OF the intelligent ed
itor of the N O. Bulletin dated Philadelphia August LIST,
lS49:
"Iyesterday what, though daily occurrence here,
struck very torcbly viz OF the Reading Railroad
coal trs consisting OF LOT iron cars, each containing oe
OF COAL propelled at rapid rate by single ocomo-
tive. This OF course upwards OF 5UO TONS and un-
dersand much as $50 tons OF coal have been brought
down in like manner lran besides the weight OF the
cars doubt if any other road IN the Unlon or probably
in Europe exhibit similar example. This one is in
some measure indebted it from the fact that it
santly descending track the whole distance tion the
the city, and though the descent does not exceed
three four feet per mile still 1t OF course facilitates the
also return train, in which, from its
length there must have been at least 200 empty
cars which give vast idea the power and facilities OF
this mode OF transportation This railroad If not the
extensive has certainly been the most costly public
work in the Union, in actual amount as well as id proper
ton its Besides its original capital OF F0c mil
lions it has expended thirteen millions more, at least it
has debt for this latter amount, large portion OF which,
however unfortunately for the was borrowed
very terms by the sale Oft bonds the market
tinued in rivalry with the Schuykll Navigation Coz, which
latter is slack water navigation with wing locks to the
dams thrown the river and leads to the coal
region the railroad The two continued tor
many years engaged the Improbable contest MrJet
erson calls it, ofseeing would do the other the most
HARM and the result is to the railroad the above debt OF
thirteen millions, with market value OF $lS per share
for $50 paid and about % per cent Tor their per cent
bonds and TO the Navigation Company debt OF seUen
from $3.50 per share for $50 paid moe than $50 per
advanced down. about $l8 per share and from annual
dividends OF 20 to % per cent down to no dividends at
all. Both parties have taker wit in their anger"
and instead OF working at rates equal to about cost have
come understanding and are now charging reason
able compensation for tolls and transportation, such
believed will at least pay the interest their debt and
afford moderate dividends, Notwithstanding their wild
pendures for increasing their locks improving their
road The Railroad has probably expended three four
millions stocking their road with engines cars &c, be-
sides at city and river depos, and the
Navigation Company have increased their locks,
pass boats with 200 tons OF coal The length of the rail
road ssomehng above 100 miles, and therpresen charge
ols OF course, ucuded) COAL 81 rs per tom which
will probably leave the rs clear profit, though
they pretend costs them only 80 cents ton to
bngt down Thus far this season, they have conveyed
100000 TONS and expect in all bring down 100000
This, OF course exclusive OF other trade and
heavy amount OF travel, The Navigation Company
charge rs per TOLL the parties doing their own
transportation. curious part OF the story that the
Bosonans own the larger portion both of the stock and
debt, OF the railroad. They TOOK hold OF during the
mania when every railroad whether intended TO run to
the moon OF elsewhere, considered as a californian
affair." and have undoubtedly put their foot into It..
do not know how was but Brother Jonathan certainly
did not usual keep his "eyes skinned on the occasion
"ln the long run my belief is the water company will
carry the day canal is constantly Improving by age
railroad constantly depreclatang The former daily
acquires sody, and requires less ieparsthe latter
daily wearing out faster and taser and when 500 iron
wheels heavily laden daily and almost hourly rafting
racehorse speed, the jarring, dislocaon and
wear and tear OF ii are tremendous"
Slavery in the District Of Columbia.
We quoted yesterday, the unequvoca endorsement
given by the Washington Union the course of the Hun
ker party at Rome New York 1t may be well to recur
one most imDortant roins in their