The southern press. [volume] (Washington [D.C.]) 1850-1852, 1852-04-14

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tsated with the vast depreciation in this sort Of
property. are all matters known to the general
reader. That the depreciation 10 not still greater,
is owing simply TO the fact that the world Is tribu-
tary to England for her iron. This pours into
her Golfers immense sums, and gives employ.
ment to large portion of her population, as do
the railways, whether remunerative or not to
the stockholders; and these things, combined
with the fact that the stock of these roads il
distributed among all classes, all cosspire to
prop up and to conceal to great extent the
true value Of these vast corporations in England.
We of the South are an initiative people. and
we now initiate at second hand The North
initiates England in her exiravagant railway
system, fOrgetful of the vast difference in the
aggregate wealth of the two communities
while we, alike forgetfu, seek to initiate the
North.
England proper contains but $685. square
miles, while Virginia contains $4,000. The
former has a population leaving out the slaves,
about seventeen times as great as ours, and is
the great commercial depot for the wealth of
the world No comparison, therefore, can be
made of the relative ability of the two coun-
tries to meet great sums of indebtedness; still,
we are blindly following the same expensive
system which has imposed burden on Eng
land so great, that it has caused her financial
system to vibrate to its uttermOst verge; and
this while over her vast dominions the sun never
sets, and to fill her Golfers the world pays tr-
bute-while with us the system is running riot
over our country, and sovereign States have be-
come rivals for maximum expenditure ; and have
already created an aggregate debt, which the
federal government with all its resources could
scarce pay off in half century. And yet the
Ia IL H..
amount daily called for by this system, and
hereafter to be expended. And since the rail
way system has nowhere proved itself capable
of repayng the mere interest on the outlay, and
since it transfers to England annually immense
sums Of money, for the iron for these works,
and since also all the stocks for these works
which can be sold, whether endorsed by States
or owned by companies, likewise find their way
to Europe at some price, thus creating in the
payment of interest, as have shown in the pur-
chase Of iron, continual drain for the precious
metals, | would submit whether or not we can
be compensated for the consequences which
must inevitably flow from such state of things
simply by the transmission of q barrel of -four,
q hogshead Of tobacco, or bushel of coal, with
the speed of a rocket in place Of the ordinary
modes Of transit heretofore used-for at last it
is but saving in time in the transportation of
freight, which demands t].is great expenditure.
What this system is TO cost us in Virginia
know not | know the estimates of railway
engineers, but think-practical experience teaches
that they are not always safe guides for esti-
mating the true cost of these works. Though
actuated by the most honest motives, their esti-
mates for road through wild and rugged
country can never be more than mere approx
mation to actual results; and many crcum
stances may in the work of construction increase
these estimates several hundred per cent, which
no common sagacity could possibly foresee
therefore prefer to argue this branch Of the sub
ject on what similar works, under like circum-
stances, elsewhere cost, rather than on mere
theoretical calculations.
take for granted that all these roads are to
be constructed in YAAe most approved manner,
are to be no wa%shferior to the railways of
Massachusetts and New York, but are to be all
alike, with equipments alike, for maximum
loads, and with little reference to the existing
traffic they are required to transport. This
have before shown, is a law which governs the
construction of all railroads.
Few things are more difficult than to get cor
rect information in reference to railways their
reports contain few, if any, details, and are
generally 30 confused that the journals which
publish them are always forced to incur great
labor in presenting their facts, if they can get at
them, to the general reader, in some ineligible
shape. For the present purpose, however, we
take their statistics as we find them.
In the Railroad journal of January Sd, of the
present year, it is stated that there were in
operation, on the lst of January, 1852, in Mas.
sachusetts 1889 miles of railway and in the
same paper for the Oath of January, the cost of
these roads deduced from the original reports
to the legislature, is set down at $53,387, 400.
From New York paper the following ex
tract is taken:
"NEw York RAILRoADs.-The annual report
on railroads has been sent to the legislature by
the State engineer, from which appears that the
amount expended for their construction up to
September 30th, 1851, had been S73,O29.554,
of which l2,259,757 were expended within the
year then brought to close. The total stock
paid in was $4l ,388,O00; receipts Sc 200, 900;
and dividends $l,677,OOO. The length of rail
roads in use on September 3Oth was l,7l6
miles, of which 422 had been opened for travel
during the year"
And from the Railpay Times of January LIST,
1852, also the following details
"Pennsylvania has completed l4O8 miles of
railway at a cost of S57,607 GIL; and Maryland
355 miles at cost of $l4,22O503."
According to the same journal there were
completed in Virginia on the lst of January
1882 478 miles of railroad at cost of 1890.
42l and 8l8 in course of constructions besides
the various roads projected to the Ohio, and
then constantly urged upon the legislature;
and besides the road from Richmond to Ethan,
and from Petersburg to Norfolk. To this esti-
mate there is not added the cost of rebuilding
the Portsmouth road, or the cost of the old Ap
pomattox or City Point road, or the cost of re-
laying the Petersburg and Roanoke road, or the
Central road Just resolved upon, which should
be added to form correct estimate of the rail
way expenditure in Virginia.
1t will be conceded that the present railway
system in Virginia demands at least 1000 miles
of railway, and will be satisfied with nothing
less And since the friends of these improve
ments assert and maintain that these works in
crease the value of property and create business,
their desire to promote the prosperity of the
State will most probably induce them TO in
crease, if they can, their number.
will assume that with the roads olre,dv con