Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-03-04
(CoNCEUDED.)

Engineer from accepting employment from anv otha,
~, 1851. Gu
(coNCEUDED)
The extenuatos of these officers unon tb;s
moor seem to think it incumbent upon me to sne.
ciiy some particular time when they were deere.
lert ana 10 Identity particular acts of negligence
Vi duty an Tree to admit the general rule Of
law and justice, that every man shall be presumed
10 have done right until the contrary apnears
But the case OF this company is an excention
TO the general principle. The approximation for
me extension of the Canal from Lynchburp to
buchanan was made in March, 1877. 1t is now
February, 1851, and the work will not be comnle-
'eo' by confession of the company, within one
year from THIS tlme Five years at least and we
know not how many more, will have thus been
consumed IN the construction of fory-six miles of
toe Improvement. Will not the gentleman adj.
NIT such sloth as this to be an execution in tho
progress of public works? Is not this fact
sufficiently glarng TO relieve me of the burden of
proving special acts of negligence The James
River and kanawha Canal was commenced in
1886. 1t will be completed to Buchanan nro-
badly IN sail or 1852; and the COMPANY will
have consumed l6 years in constructive 19a
miles of its work, The great Erie Canal was was
commenced in 1877, and completed in 1so5
eight years and four months from the dav when
the first spade-ful of earth was thrown. That
work Is 1854 miles long--so that our COMPANY re-.
CURES twice as long to construct 1873 miles of
canal, as was consumed by New York in con-
struct'ng 364 miles, or nearly twice the enpth
OF Improvement. The relative dispatch of The
TWO works stands, therefore, in the ratio of four
to one against the James River and Kanawha
company. Why this difference, | demand to
know 4? Were their work now pepetratino the
rugged defiles of the Allegheny mountains. some
excuse would be afforded in that fact for DELAYS
from this city to The foot of the Blue RIDGE no
physical difficulties Of consequence have inter
posed. Through that Ridge their progress has
been pioneered by a canal already CONSTRUCTED
Even II they had physical difficulties to overcome.
they bear no proportion to the nordnate lenotb
OF time which they have consumed Time IS
matter OF the first importance in the construction
OF public works, and is important in proportion to
me amount of capital employed. Theirs could
not De better illustration of the fact than is fur
h'sneaby The history OF this company.
ihe cost OF the work up TO this time somewhat
exceeds 100000; six millions of this amount
constituted the capital stock of the connanv and
was subscribed one half by the State and the other
nan by corporations and individuals The re-
naming two millions has been obtained either
y, y. loans from, or upon bonds guaranteed by the
o ut IL Is only this last two millions upon
"hieh the company has been able to pay an an
nuai interest Its six millions of original capital
s.ocN mas never paid one cent ofdvidend, which
therefore has gone regularly accommodating
rom year 10 year since the commencement Of
, .ne "orK, uhl' the ordinary principle of calcu-
ialon, llhat capital at per cent. interest dnub.
eS Hseii IN 10 years,) it has amounted to more
uian eleven millions of dollars, nearly doube ia
original amount, Every delay therefore Of The
work. sinks the interes, upon this dead can;,,l
on ~ Inc enormous sum of Ss6O,0OO, That canitaI
VIII never be revived and rendered productive nm.