Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1852-01-30
RICHMOND ENQUIRER.
:.
thursday MORNING, JANUARY 90, 10

:, RICHMOND ENQUIRER.
THURSDAY MORNING, JANUARY 30. 1852.
| REPORT OF THE BOARD OF PUBLIC WORKS.
We have thought proper delay the publication of this
important document until II should be laid in printed orm
before the Legislature This was done on tuesday as ara
the House of Delegates expressed their hgh appre
elaon of It's merits by ordering the unprecedented NUMBER
of vc thousand extra copies bs printed for general dis
BUTTON 1t is bold and striking document destined TO add
greatly TO the already high reputation of Its author 1t sx-
hbis the internal improvements Of Virginia Gs system Of
vorks and presents convincing argument and per-
spcuous array acts In demonstration Of The superior ac-
yantages for trade and for developing great elements Of
wealth. which will be possessed by what happily denom
na,es the Virgina network Of Railways" lis views of
these works. system entirely original aud it is In
possible from its psrusal without powerful convic
ton of tho immense capacities of the Virginia system Of
railroads. when completed to command the Western trade
represents the State as projecting and soon 10 possess
four great lines of transportation across her territory reach
ng-one of thom into the richest portion Of North Caro
ma through the Piedmont country lying East Of the AL
ghanies and South Of James Riveranoher of them TO
Tennessee through which State 1t 10 10 bs extended TO The
Mississippi Iyeranother Of them the Ohio al the south
bend of that river and the extreme southern point
OF the State of ohio and the other
with the Ohio system Of internal improvements and
BILE of monopozne their trade during The OF Ice n
more northern waters.
1t entirely puts flight the Impressions here
toore conceived the and conflict of design
which have been thought TO exist between tho leading Inn
of Virginia 1t is impossible TO read this Report
without arriving the conviction that the States vast
pendtures upon rail roads, If these be completed
all be made mutually and harmoniousy conducive TO the
general prosperity of the commonwealth as well as indvi
duaily conducive to the prosperity Of the Immediate Sec
ons which hsy respectively penetrate The idea OF anita
gonsm between Them is entirely disspaed by the elevated
and expanded views maintained In the report; and If the
friends of the great enterprises of the State which are In
progress construction shall adopt its vews this
subject and harmoniousy in shaping the present win
ers legislation ncalculabe public good will certainly be
accomplished That the various rail roads OF the State
which, upon superficial reflection would seem 10 have orr
gnated 10 accidental circumstances and been shaped by The
varying phases oegsatve combinations nevehe
less been projected to constitute consistent sys
of public works. is Idea entirely original with the
distinguished author of this report who may be said TO
have completely unansweaby vindicuted the informal
improvement party of the Legislature from that reckless ex
travagance and corrupt, conflicting legislation with which
they have been charged continuously and unusy-
The correctness of this reports views upon tho Virginia
system of prore en supported by rrefutabe argu
men and It's extensive circulaon In and out of the COM
monweah will greatly tend TO strengthen the credit and
enhance price and currency of Virginia bonds at home
and abroad Iodeed the report expressly declares that It
leading and especial object in preparing It, 10 present
the world authentic and official exposition Of the char
of those public works n which this State s engaged
upon and poducveness of which her financial
prosperity Chiefly depends in order to establish hsr credit In
The rank deserves occupy in the markets OF the world
Nothing could uiuriously prejudice the minds of capital
sts against Virginia bonds, the idea that the public
works of the without consistent design
and only according to the interested schemngs OF Individual
members and combinations of members OF her Legislature
must admitted that there has been too much cause Tor
this impression In The ongination of these works. and tar
too many evidences Of ts truth in the legislation OF the
State Those who have had knowledge OF her hnan-
ca emergencies have felt their influence with suhcsn'
force and have experienced the need OF precisely such an
argument against the Is contained In the SatePa
per under consideration which has most fortunately and op
porunely sysemazed the public works OF the Stae and
laid down substantial basis of State finance ..
The peculiar and unequaled adaptations of Virginia. for
becomiog manufacturing State, most slrikngly set
forth In this document. Her unparalleled exten, Of water
power her vast fields of coal her admirable climate tree
from the ross Of high audes and from the heats and MI
asa the South presented in most perspcuous and
unan.werabe array support of the proposition In THE
connection the great OF tho State Is declared TO De I'm
OF tho mechanical and manufacturing
the Legislature is urged TO encourage the Ell
forts now making State to establish direct seam COM
muncaon with Europe the only certain and adequate
means osuppying this important desderaum to virginia
The epor, also declares boldly distinctly and une-
quvocay for thorough and radical reform In our oanSne
svs,em as most important measure in tse and as au5ili.
ary to the finances of the State 1t urges the Legsa-
e to embrace the occasion offered by the early expiration
of the existing bank charters TO cut loose enrey rom tue
,vstsm OF specially chartered corporations and to instituted
new system under general law subectng the business OF
banking 10 rigid estrcons but allowing to be engaged
io whou, the necessity Of special Incorporation upon
simple compliance with the conditions Of The general law
Il takes strong ground In favor in other words oil the FREE
sysem opposed to The system specai charters
and privileged corporations Tho leading features OF the
syssm which 1t advocates and proposes nre-cquiring oil
hank circulation be based State securities every
bank note bearing the signature not only OF bank "cers
but OF the State and every back note carrying win ne
responsibility only of the banking association oy whlch
issued but of tho herself In vrtus OF the stocks
pedgsd for It's redemption also each bank OF tne
State to redeem its notes, not only at It's own COUNTER
an, At ,ch other points In the State shall be most conve-
oent 10 the holders its crcuaon-naking tho stockhod
era in each bank responsible for s obligations 10 the e1
Ten, of their respecvey-and making each banking
office an independent institution, having associated
located at different points in The State in close
conspiracy with i, 10 its financial operations.
Requiring the banking circulation of the State TO be based
dollar for dollar upon State bonds pledged tor It's reaemp
ton would DO efficient measure that could oe
ed for increasing the demand for these bonds Inc
of our present banking circulation ia probably aooul ten
lions of dollars and the proposed measure would a. once IN
,hs demand In abou, that Under the heavy
appropriations of past sessions remaining TO be pad ana
those which the present Legislature will undoubtedly MAKE
extraordinary viii have to be resored TO- 70 rem
der The demand for State bonds equal to the requirements OF
our public works The capital IN the commonwealth seek
Ing these securities Is very limited ana inc
continued prosecution of our internal Improvement SYSTEM
depends mainly upon efsctng sales beyond 'he VI .0
These foreign sales cannot long continus
10 the extraordinary calls Of public works. un
a good home demand is created and fosered aud prob
ably the only means of rendering these home sales comm'n.
sure with the exgencies of the Treasury s that oy