Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1850-12-03

wha canal so far, are not altogether discouraging
From the report of the company herewith submit
ted it appears that the cost of the canal to LYNCH
burg, exclusive of lateral connections, has beer
S., 1856 OF, and that the nett revenues upor
that portion of the work, during the fiscal yea
just ended, have been $l55,969 o. or more thar
per cent. upon its cost, although the trade of the
year has been unusually depressed by variety O
extraordinary causes. Its present tonnage shews
| an increase of more than 60 per cent. upon tina
of 1910, and it is significant coincidence that the
population and value of real property, in the city
of Richmond, have increased in about the same
ratio and pari pdsSu with the tonnage upon this
canal. As yet, the trade of this work is entirely
local, and confined in great measure to produce
East of the Blue Ridge. IF it pays three pei
cent upon its cost under these circumstances
what may we not expect of it, when it shall pene
trate the Valley of Virginia, when it shall reach
into the timber and coal regions beyond, and shall
finally tap the Ohio river, and the immense trade
of the prolific West? This canal now presents
the singular anomaly, in the history of internal
improvement, of pubic work regularly and
punctually discharging the interest, equivalent te
six per cent dividends upon the cost of one-third
OF its line, and of several expensive appendages
in advance of their completion.
The country whose trade is accommodated by
this work, is greatly interested in a reduction OF
its tolls. 1t is believed that material reduction
can be made without a corresponding falling of
In revenues, and that such a measure would pro-
baby result in an actual increase in tonnage and
receipts.
A reduction of 20 per cent. upon the tolls OF
the New York canals, has resulted in an increase
OF tonnage upon those works. in the first months
of the current year, of about 10 per cent.-an in
crease which already much more than compen-
safes the apPrehended loss in revenue. | be-
lieve similar result would follow a like reduction
upon our own canal, and recommend such leg
lslatlve action may seem to you best calculated
to effect SO desirable an object.
have dwelt at greater length upon this subject
than should have done because the State is too
deeply involved in this policy to abandon it with
out loss and dishonor, and because of prevail
ing disposition in Virginia to underrate canals,
which begets Discrimination to investigate their
true merits. One of the strongest grounds of
hostility to this work grows out of mistaken be-
lief that, in some way or other, it is antagonisca
to, or will conflict with the railroad interest. If
such were really the case, there might be some
reason forthe feeling; but the experience of New
York has put that apprehension forever to rest
The great Erie canal, and the railroad running
parallel with its whole length in it's immediate vi
cinity, so far from conflicting, mutuallyassist each
other. The reduction of tolls upon the canal, so
far from diminishing the business of the railroad,
as might have been supposed, seems to have i'm
parted more vigor and success to its operations.-
This fact establishes the great truth that there
can be no conflict between canal and railway i'm
PROPONENTS, provided they connect great CONNER
cial points together. 1t ought to hush forever the
jealousy of the railroad interests of the state, and
shew them the necessity of mutual cooperation
and assistance in fastening the completion of this
great enterprise.
There is, also, much in the progress of the great
railroad lines, so literally aided by the state, to en-
courage the friends ofinternal improvement. Here,
as in other states the strongest inducements are
held out for their completion.
In this particular branch of our enterprise, we
have again the fullest benefit of the experience of
our thrifty and sagacious neighbors at the North.
The railroad system is probably carried to as great
a degree ofperfecton and utility in Massachusetts
as in any part of the world. That state possess
territory of about one ninth that of Virginia,
and yet she has it covered over with railroads
amounting in their aggregate length to more than
a thousand miles. TO such extent are they null
tiplied that the average distance between them is
only seven miles. And yet, Notwithstanding the
surprising proximity of theirroads to each other,
we find no jealousy or split of rivalry amongst
them. They pursue, each one its course, with
energy, industry, economy and success. The cost
mile, and still the companies have made upon an
average nearly seven per cent. per annum upon
their money invested. At the same time both ira
vel and transportation are low upon them; the
price of the former being only about two cents
mile for each passenger. But the effects of these
improvements upon the city of Boston, and the
general prosperity of the STATE, in promoting COM
merce and manufactures, are almost incredible.
1t was very evident to sagacious observers that
the great ADVANCES, natural and artificial, of New
York, would not only draw to that city the COM
MERGE of the West, but would likewise render all
the cities of the North tributary to her, unless
something could be done to concentrate, at other
points, some Of the enormous trade which was gi-
wing to that city its gigantic proportions Boston
quickly perceived that her noble harbor would be
of little worth, without commerce to fill it with
ships, and that these could only be sustained by
such products as could be derived from much
larger area than Massachusetts possessed, having
no river to bring the products of distant and fer
tile regions to her port. She determined at once
to supply the natural deficiencies of her position
by artificial means, and accordingly, undertook
with great vigor, a system of railroad improve
ments, which exhibits her in light the proudest
and most enviable, and affords an invaluable exam
pie to every state in the Union engaged in rail-
road enterprises. Hers is an example of indomi-
table energy, which would not be turued aside by
any obstacle however formidable, of judfcious
fore cast, perceiying distinctly in advance the ben
efits within her reach, and of noble literally which
embarked an enormous treasury In an enterprise,
having for its object the glory and ascendancy of
Massachusetts. Their success has been complete.
The advancement of Boston for the last ten years
is beyond all example,, The value of her pro-
perty has increased from 100, STA dollars to
266, GAG, S44 dollars; over twelve per cent, per an
mum, or more than double the legal interest in
Virginia. The population of the city has increa-
sed with an equally surprising rapdity, having
advanced from 1886 to 292,Sl3; making an
addition of l44,264 or nearly double its numbers.
The population OF the state has advanced from
1882 to 973,7l5, an increase of 255;l23.-
Every vocation of life has partaken OF this pros
perity and thrift. Agriculture, manufactures, COM
merce-all branches of industry are advancing
with an unparalleled rapidity; and the future pros
poets of Boston continue still to be as brilliant
those of any other city in the Union. That this
great increase has bee the result of her railway
improvements, is denied by none-no other ele-