The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1852-11-24
RICHMOND, VA.'
Wednesday Morning, Nov. 14' ioo
THE LEGISLATURE.

one which is big with the fate OF VHginiS'
probablv through all time to come. IL COM
msnces under circumstances peculiarly Ia
,orable TO elaboration, there being no topic OF
peculiarly exciting interest before 1.-THE rfe'
sidential election being Overland the public
mind, except in so far as it has been excited by
the Lennon case, enjoying very uncommon
degree of composure. Let US hope that the
ACTON of the body will he as wise as the pc.
culiarity of the times seems TO imply that il
will be.
The question Of prime importance which
will come before it, relates TO the system ofin
,ernal improvement. Will the Legislature at
ford TO the several lines which have been al
ready commenced, under the auspices OF the
State, that degree OF aid which their cohdi'iSn'
the honor OF the State, and the public interest,
imperatiyely demand? VIII it place works,
which have thus far cost the State many mil
lions. in a condition TO remuneiate II tor tie
outlay which il has already made, or will it,
by system ofnarrow legislation, strike those
works dead, render them so much unproduc-
tive capital, and leave them upon her hands
Will il enable the works themselves TO pay
their own way, or will it leave the interest on
the debt to be paid entirely by taxation? Is
If better TO lay such tax as may carry them
through and leave them in situation TO pay
the interest on the cost Of their constructions,
or to stop them short These questions
the Legislature must ask itself, and according
10 the view which they take, will the future of
Virginia he settled.
Itis SO long since we discussed this matter,
that we forge, the exact amount of indebted
ness for internal Improvements. We believe
il is about $l2 600, and as tina. figure will
answer the purposes of the demonstration we
are about TO make as we'll as any other, we
shall assume it. The State Of Virg mia, then,
has expended $l2 900, 900 on works Of internal
improyement-none Of these works are COM
ple,ed-and she therefore pays the interest on
the debt. That interest, at 6 per cent, amounts
TO $4,000 per annum. If Virginia should
stop short in her career of internal improve
ment, she would nevertheless, be compelled to
paw this interest, and eventually the prime pal
out Of which it springs. The works, as they
stand, yield nothing, SO that she would he
compelled to depend on taration, in the end,
for the means to discharge it. This would be,
to use familiar phrase, literally paying for
dead horses-ior property of no earthly value
10 her-for labor, which although great, has
rot added dollar to her income. The tax
which it would he necessary to lay, in order
to discharge this obligation, would be fully as
great as the tax which would suffice TO carry
her several works to their destinations. She
would not avoid one dollar of taxation by
stopping sh Jrt where she is at preseLt.
Ga the other hand admit that it We uld cost
her as much to finish the lines already COM
,nenced, as she has thus far spent in bringing
them t. their present state. There is, still,
everything in favor Of prosecuting the schemes.
At the end of each lies purse of gold, ready
for the adventrlrer as soon as he shall have
reached it, and they have this advantage over
the chiids rainbow, which is supposed, in
nursery tales, to be provided, at its extremity,
with similar eppendage. They have an end,
which it is possible to reach-which should
have been reached before now-whlch, if the
Legislature give the due degree of encourage
ment, will be reached within a very few years.
No man can really doubt, that when our great
lines ure pushed to their termini, they will not
amply reward the stockholders. n man doubts
that within month after they shall: have
been completed, their stock will command at
least par, if not a premium. BY reaching the
given point, then, the State will have at once
exiting uished the principal of her debt, for, if
she choose, she can Immediately sell out, and
realise every cent OF 1t.
The choice, then, lies between giving up
$4,000, 000-throwing it away-and taxing
the PEOPLE to extinguish it, and taxing the
same people tit may be to the same extent) to
obtain the means Of discharging it. In the first
case, the loss is total. and irrecoverable in
the second, it is temporary, and will be re
placed with interest. If the alternative has
been fairly presented to the people, we deem
it altogether impossible that they should as
body, have halted between two opinions, and
as the Legislature adjourned for the purpose
Of consulting them,a and we concludes of course,
that they have come back, armed with all due
authority in the premises.
The slave case in New York is one which
requires very serious consderation-very de-
liberste judgment, and very promp; action on
the part of the Legislature. We hope there
Will be no excitemsnt-no angry words--no
arests. If were called upon to give coun
Sci ia the matter, we should advise the Gene
raj Assembly to wait calmly and patiently I'M
Ill Governor johnson shall have obtained the
sScial copy of The proceedings of the court
10 take no step, even then, until they shall
have seen whether or not the Supreme Court
OF New York will reverse the decision. or
whether. should il affirm it, the supreme
Osu't OF the United States will support it,
Sven then, we would advise pause until i, he
seen whether the Legislature will repeal the
obnoxious law. The maxim Of Saliust, .saau
ct, priss guam tncipias. consnito, ct sbi co,