Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1853-01-24

october last, OF S375,000 aud will have for the
| year, up near 81, ,000-more than per cent
| after paying expenses.
| The railroads of Massachusetts, now n perfec,
| network, almost weaving together her every vii
| lage, town, and shire-and costing twice ms much
as ours-pay in the aggregate, more than per
cent on the hlty millions and more invested in
them. Taken separately, some of them paw 9, TO-
| and even 12 per cent.
| The South Carolina and Georgia railroads
more analogous to our own, pay between 8 and Is
| per cent
There are already completed in the U. States
| more than 1892 miles of RAILWAY, Mt p cost nj
near S40O,O00,0OO, and there are nearly a 9 many
IN the course OF construction, at about the like
cost This enormous investment in railroad
| stocks would long since have ceased had it not
made the usual return upon invested capital
Yet, so far from ceasing, it is every hour going
on and increasing.
The Baltimore and Ohio railroad supported
thus far chiefly by its local resources between
Baltimore and Cumberland, made dividend re
Gently OF ST per cent on the original capital of
S7,0O0,000. Its :. Engineers estimate the gross
revenues when the road shall be in full operation
to Wheeling, at 81 900 000-an estimate, which.
however astounding it may seem, time and facts
will verify.
Coming to our own railroads, unfinished as
they are, we are presented with results, not
only satisfactory, but wonderful.
The Central railroad, in use to Mechum's river
10 the county OF Albemarle-less than 100 miles
received last year, for its freight aud pas Sc uper
traffic. S176,000-oyer per cent net on the cap
isal expended to that point
The Virginia and Tennessee Rail Road ira
verslng one OF the richest countries on earth, and
destined by irresistible causes to be one of the
greaest thoroughfares for travel and traffic in the
Union or in the world, receives OF SIS comp eted
miles $4,000 per month. Now open to Salem,
its receipts will be more than doubled.
The Danville road, so much rdculed when it
was first projected, though in operation only
'seventy-three miles, is taking in $500 per day.
The Manassas Gap, finished only thirty three
miles, received in the month of October, $40
per day.
The Orange and Alexandria, in use to Culpep-
per Courthouse sixty miles, is realising S3l per
day.
Now, with these cheering indications from our
railroads in their incipient stage. what may we
potexpect from them, when carried out in all their
lateral and terminating connexions! If the
Danville road pays $4,000 per month on the first
seventy-three miles, what may we not hope when
1t shall connect with our chief market town the
the teemng valleys of the Roanoke and its tribu-
taries! Ii the Virg inia and Tennessee railroad,
in working order only to Salem, pays S12, 900 per
month, what will itnot do when extended through
the remoter Southwest to the great s.father OF
waters ~ 1T the Central railroad, in operation
not five hours travel from Richmond, paws per
cent, what will it pay when it shall present
continuous thoroughfare, by the shortest dis
lance, between tide-water and the valley of the
Ohio
Most surely, If facts may teach us any thing:
II the experience OF the past may light US to the
developments of the future; if what has been
times innumerable heretofore, may be again
hereafter, we may safely put it down that the
railroads OF Virginia will, when completed, nav
at least 7 per cent net on their cost. If thew do
but this they will no longer be source of debt
and taxation. They will pay charges and the in-
terest required by the constitution and then the
State need no longer call on her citi zens for
dollar on accotnr of Them
And the day OF exemption need not be far dis
tant. Ii our lawmakers be true to the interests
OF the people, and will make, at their present sit
ting, the required appropriations, our leading
works will be neatly all of them completed in the
short space OF two years. Tho South Side Dan
vile, Virginia and Tennessee, the Central as far
as Covlngton, the Orange and Alexandria, and
tiie Manassas Gap railroads, being all now con-
slderaby advanced. can certainly be finished wi h.
10 tnat period The moment they are, the debt
OF the State will be reduced by sum equal to
the aggregate cost of all of them, and taxes, so
TAR as these Improvements are in question, will
be at an end.
If these views be southland religiouslv he.
ieve they are-it is the interest of YOU and
OF me, AMI OF every tax payer in the Common
wealth. That appropriations be made at the pre-
sent session OF the Legislature to complete our
leading lines of improvement.
not only believe that the great lines will all
OF them make return of seven per cent, but do
more-bring actual income TO the treasury, and
materially reduce the ordinary taxes. That
IA lItUnu -.
and constituting feeder for heavy tonnage to the
canal at Covington, will be the source for mag.
innocent revenue, no more doubt than do the
existence OF the steam engine. And that the citi
zehs VINO shall i've dozen years hence, will see
the taxes OF the people reduced to mere song
by the operation OF our public works, as much
believe as do that the sun shines or the wind
whistles,
May, present the subject to you in another
aspect!
1.-THE works now in progress be arrested, we
SINK the fourteen millions already expended and
we must tax ourselves with the annual Interest
on that sum, and large additional sum
by way OF sinking fund, until tho whole
debt is extinguished. Shall we be guilty of
this folly throwing to thu winds this vast
outlay, or shall we, by further appropra-
liohs' make the whole investment available and
profitable?
If we abandon the works ia rheir present nm
mashed state, we not only totally sacrifice four
teen millions, but we give up once and forever.
the thousand blessings that have every where fol-
lowed the track OF the canal and the railroad-
We give up the enhanced values, the cheapened
transport, the viv flied trade, the enriching com.
merce, the furnishing manufactures, the aug
mented wealth and power, which have never vet
failed to flow from this life-giving policy ofin-
ternal Improvement Worse than all, by ADAM
donlug the mighty iustrumenality which has so
advanced some OF our sister States, we abandon
virginia to perpetual inferiority. | revolt at
the thought, and so, know, do YOU.
hold it to be even the especial interest of Us
OF the East to have our improvements COM
pleted. When the great lines shall connect the
great West with our seaboard; when Norfolk
shall be joined to Memphis bv continnops ROT;