Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1852-05-20
Finances and Public Works of Vir-
Einia.

/ We have received a copy of the speech de-
livcred in the House of Delegates, on the 30th
April, by Alexander Rives, Esq, the able and
distinguished delegate from A!bemarle. on the
Finances and Public Works of Virginia
Mr.. X. is one Of the most graceful and ac-
complished orators ofthe State; being gentle
man of extensive requirements, fine taste, an
elegant and copious dic,on, and graceful and
effective delivery; and we understand that the
speech delivered by him on this occasion was
at the time admitted to be the ablest speech of
the Session. We have not as yet had an OPP
portunity of reading the whole Speech but
only much as treats Of the statements of tho
Finance report, in reference to the debts and
offsets ofthe State. So far as we have examin-
ed it, it exhibits the results of careful and
lahorlous investigation of the important SUBJ
jects OF which 1t treats, and exposes, in MASTER
ly manner-the influence hostile to the great
public works of Virginia, heretofore and
now the great hope Of Frginia-which in
duced the members of SO important CONT
tee, as the Committee of Finance, w no were
charged with the investigation of a matter Of
the gravest character, at most critical mo-
mcnt, without consideration, to adopt report
which commences with scoff at the system
of Internal improvement. and the fairness of
which, as Mr.. Il. conclusively shows. is every
where "assailabie the score ofexaggera,ion,
false coloring, omissions and errors" having the
lnvincble tendency to excite prejudice against
the system ofPublic Works of Virginia. Tie
great object Of the report as MR. says, seems 10
have been to "cypherouta panic, "and MIR by
the laborous investigation and lucid exposition
which he has made of the subject, calculated
to counteract the unfortunate tendency of the
rePort-has rendered an important public Ser
vice, for which lie is entitled 10 the thanks OF
every enlightened friend of the Jawnng pros
perity of Virginia.
Thus in regard to the public debt of the
State the report contains statement, headed
Statement of the public debt of Virginia"
footed as follows. viz Total S22 ,54s, 1857 o."
from which casual reader might suppose that
to he the amount Of the debt. But no sooner
is this grand total held up in terroren before
the people" than the report proceeds to sub.
ject it TO important reductions. To one who
is not satisfied with glance at this appalling
result-and most persons would be-the next
sentence declares that it is 1.-THE expose of the
true state of the debt and liability of the Com
monwealth, '-liabzity, word no where an
pearing in the table. "Now among these LA
bihues is that arising from the States guaranty
of the bonds of sundry corporations, amounting
to about 100000 00-for much the larger
part of which the Stateis indemnifed bv mort
cages on the property ofthese corp.rations.-
In the case of the liability of $500 900 for the
city of Wheeling, she is Unidentified by mort.
gage on property worth 100000" Yet the
report most unreasonably declares. that "a san
guinc temperament may indulge hope that
me Adbtf'fy on tbs account may nercr attach,
and perhaps such Aope is rational thus hold
ing up this large liability in terror over the
people as one. in reference to which only "a
hope perhaps rational hope" may be enter
tanned. and that by one of sanguine tempera-
ment that the State may not have 10 nav il.
when In tact there vas no ground for reason
able apprehension, that the State would ever
have to assume 1T. In addition TO this liability.
the grand total of the report includes certif.
Gates OF State debt amounting to Sl,5If,5lS 81
held by the Board of Public Works and the
President and Directors of the Literary Find
which, upon the ground that if that sum be a
debt at ALL the State Is at the same time the
debtor and the creditor the Second Auditor
thinks may be considered as cancelled; but
which according to the opinion of all the fiscal
ofhcers OF the State, ought not to be considered
as part of its actual debt And another i,eo,
in this table of debt is S732, $50, BEING the a.
mount OF subscriptions authorized to be made
to Joint Stock Companies not yet organized.
Deducting from the total of the committee
these sums which ought not be embraced in II.
Mr.. X. shows the actual debt of the State IA
Of the LIST April last, to have been only sl2,-
9S7, $40 81.
After summing up the grand total of the in.
dehtedness of the State, the Committee, desr-
ing, it would seem, to create panic, which
would put stopto any further appropriations
to works of Internal Improvement, proceed
with their ''minatory cypAering, to process Of
multiplication, whereby they magnify their
grand total, by expanding tito the huge dimen-
sions which they suppose it will reach at the
end of "a years-including in the process OF
multiplication, not only the items which have
been mentioned, but also. the further sum Of
s46620Oo. on the supposton that the recon-
mendation ofthe committee of 81, for the ap-
preparation of that sum to certain orks, will
be adopted
| The credit to which this "minatory cypher-
ing" is entitled. may be inferred from the fact,
that the report gives no credit for tie annual
proceeds Of the Productive aocks Of tie State,
which amount to upwards of $4,000 and
which being also multiplied by "a would pro-
duce the sum of SIS. 100000.
| We mayre to this subject in our rext.
COMMONWEALTH as JAcKsoN.-Our ipfor.
mant was mistaken in supposing. that the Judge
was clothed with the power of imprisonment.
as was stated in the report Of this case last
Monday. We make the correction ut h. re-
quest. and in order that the action ofkhe Carr
! may not be misunderstood