Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1852-04-19
A rival for the Trade ofthc South
West.

West.
We would call the attention of the
President and Directors of the Virginia
and Tennessee Railroad Company. to the
| article below, from the Charleston Stand
ard. Nothing can altogether secure to
our line of Railroad the tonnage and
travel Of East Tennessee. if we permit the
connection with Charleston to be compile
ted, by the construction of the Knoxville
and Charleston Road, through Rabun
Gap, and the trade drawnin that direction,
before ,ce finish our road to the connection
aciM the East Tennessee and Virginia road.
We do not say that there is not as much
energy used by those to whom the Stock
holders of the Virginia and Tennessee
Company have confided their interests, as
the circumstances of the case demand; but
we do say. if all is not done that can be
done, great will be the discomfort, when
the conseq uences of a lack ofenergy shall
be made manifest by the loss of that, for
the acquisition of which, millions may and
will have been expended.
We wonld also ask the members Of the
Legislature, or such of them as are will
ing to be guilty ofthe ridiculous folly of
Withholding the requisite State aid to
complete in the shortest possible time, this
great work-how can they satisfactorily
account to any enlightened constituency,
for the preparation ofso great financial
indiscretion, as to permit the completion
of the Virginia and Tennessee road, in
which the State has already embarked
one million eight hundred thousand dol
lars-,o be delayed, for the want ofau en-
largement of that interest, six hundred
thousand dollarsl No adequate excuse
can be made. for such empiricism in leg
islation. The question is in a nutshell;
and the folly of Withholding an additional
subscription on the part Of the State can
be demonstrated in very few words
The Commonwealth has already invested
eighteen hundred thousand dollars. The
interest on this sum is one hundred and
eight thousand. Suppose no addition be
made to the State subscription, and there
by the completion of the road be delayed
FIVE years-the Treasury-will have paid in
that period five hundred and fifty thou
sand dollars; and at the end Of that time.
will, in all probability, have aninvestment
that may not pay six per cent dividend
for many years thereafter; because the
trade and travel,properly belonging 10 the
Virginia and Tennessee Railroad, has
been taken by the Knoxville and Charles
ton road. But if the State now gives an
additional subscription of three ffths of a
million, the work will assuredly be finish
ed in two years. In that event the invest
ment oftwo millions four hundred thou
sand dollars will pay six per cent, at least
from the opening of the road to the State
line. The account will then stand thus;
at the end of the five years, the period al
lowed for finishing the road, pithout any
addition to the State subscription. Six
per cent on $2,4OO,00O. is $144, 900: this
in three years gives $4,000, which de-
Quoted from the amount the State is asked
now to subscribe, say 100000, leaves
one hundred and sixty eight thousand dol
lars, as the additional burthen on the
Treasury, imposed by subscribing, or in
other words, by keeping faith with her
CO stockholders. We ask, can it be pos
sible, that for this paltry sum, paltry
when considered with reference to the
subject under investigation, the Legisla-
ture of Virginia will SO far forget the true
dignity of the State as to adopt the "penny
wise and pound foolish policy,recommen-
ded by that class of its members. who are
as deaf as adders. whenever you propose
the expenditure of one dollar for inter-
nal improvements. We hope not. we be-
lieve not.