Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1853-02-11
THE LOAN SYSTEM.
EECH or SIR. BASSEL OF HARRISON.

Il. tie Senate c Virginia the Bin 10 Loon 10 he South
SIDE Eia ReGd Company s6VU OJO
Mn. PRESIDENT : re" Ia petfm dtsagfccahic d1iy
rce:,l 10 oppose n,esur in which many ;ds TEX
soit..p az interest Some gentleman hce will srsp
wr nj this bill is sp"."d Of. viii not long rn iseth :"
D. tr! wing the recorded verdict ii HE Sra"te
ur ms gI"s;ifn do drGh: III. result. lhe hl!i
wi' Ht-s Aah o.! la' ''aits 10 tNe u law" - me re-
cord ~ ;tni. by Clerk Yet w' raj" ny voice cf
,.,fnrr. " sali-< Ecn!c.!ai to 'osplt rom the irs
i- ". uist say tina! this 'if VIA pass, IN up,
position III. tticr judgments OF many Str"tTS "ho "':i
ier - v",c for IT, under the idea that il ;h
fails this lrrn other sch"mes deeply Interesting
them: seq npnn tie principles must f'ln>". rns
o pat ot >y,'ema series :" mei-lrcs .! Improve
.Ouh!n" varri Interests and il tails. he 'sntsnc
Ei7li We about I" cnt,c upon ~" era III tar 's-
tory rs Cormnnwt:ll Our po:e-s ~ The :. .stem .!
in."rna improvements tdcr III" DID Constitution, as beef
csaiua., prudent and clno;s tnt not always wiss Tn
iar shat C,us;i,uun unJart q! 4 quorum c"ntt rne
n"aj the money 81 Tie : ac Under the new Consl'u.
'ir"tiir % thc whole nHi:nr oi ta rrErDfs oi
. ngn:,rn VI the General Assembly is necessary. ts
,.,.. G tide Nurcr ;e.ari"t Of muc!! 'rr'!-
,,r, ,frg l. CONSTITUTIONS; hat In, >omr5aTy
: ar.gt- ,iy igFl necessary 20 tt!t' ;'c
c2cgr;ips and make r :rads a:ln- stc 81
nay'"1ba rivers oi tc water and hat mast os d1" 'ae
better" road ssad the Blue Ridge much cs-
t tar;rs N"H sir lie cause OF ali this ~ hgl:en;
wan,c5 ana be had, n any sacrifice
!. rmai.is haze been toll! that our dGr rsIna 81 u
:i wihs IN winch The State lad cni3aked 90 iAh I"
# means and credit lc completed No miorc was
-tcG ~ .yp.rtct But actcine=, that 10 absorb
li.e sus are pp ssng The House Delegates every day
ana c called i!,nn The 0l the STATE uy
,,.yir-, least this Session and thai! too uHdc:
OF govcfrI@at that Ees per cent upon any snin
~ may vote l.: ",itd collected and paid annCly ST
is n, tiin reec, iIl, Do Senators believe The
., ,:e THIS Commonwealth are ready ior tnlsi Rave
my expected Ibis of ut2 We have gpt quite recently, q
nes form of government that will The people nearly
two dollars Of the old A. the very first shssion {"
me Gen; m Assembly, under that Constitution, while the
M r i.c cnipI ing and doubtful ul what has been
c, Mt, dome about double the deb; OF the state
We are - nov. vote to-day or to-m"r"~, wal
.. who ,Ivc pcc,ded Us have been quarter o cent
y accomplish ~.
ST. Aces r!s immense increase o! the public debt, al
| {. -,nala Sep! hp,c evil To this Commonwealth
81 the question, may be said 10 be one OF honor or DIS
u.nr. 10 gentlemen expect that 80 many nl'h' 9 oG
,uuis sc O!d llc market in 81 sho lile ana te
,cc b. .ancdl Does III" Ccca-iun require thai our
rrit shc,h b. srainc 10 tie verge oil nate l" speak
IN. ,yorG BamkrIpfcy &c. ttr.? Iwi no what sur
.usa bonds ab 81. n r'I'a-ti Hcy cannot r soi'
-, may sam that wc are willing ny !,: iaa"yrnr
n9-ny, .c,ts must stop: have adc break Gown ~
rr ridr ypu will 'ave dn. iscic II; cannot easily ne
ylet; sc!,Hes OF Improvement VIII be excc'ated %
ii. pcu gis have been exhausted MD me
i;nm>e r"iur' has not bern 'aia cnn'"Ts wi :d h"'
,w uad progress thc hest Das much as i@ pe'
,.a c2n jt'rd 10 d. Do nn ',riv@ lcn' TO desPa ana
maxi then, ci.-!.rrs of your cherished schemes. Nov, sir
l.t u. address on,...cs The question OF tits loan Let
u enquire whether This iuteEi and proper measure
10 complete this np:oYementwlcthei as is p:et nded
N. concern the COOPERATION the South Side Rail
Rood Company, is sorEni and aGe 10 y e loan tney ask,
n Gil. htn,rcd ~sGnd dollars. No" let US look ie"
moments the book that records The history o what -
r.t Tic facts contained n that hook the lights OF cApe-
RI nee worth all the hopes an! expectations cf me ih-
lur in le proper determination CT this question Nothing
has rfanslfc Justly scnaoTs IN jlU5g r yes h'd
ears entirely 10 Tie past and say tut te future will Dc
Dlirry tie unpoGes OF thr past. Cutosty UPON ii SUP
,,a To-! IN. his morning 10 lie ctIcr Second Audi
,r The o. ,tiUn asked ii tEr State ever io.n "
m .ncy 10 internal Improvement cn;apani.sf Yes! Dll
these companies pay it bacS, either pt!ncPai o. interest
No! Waal has become of il? 1t Is lost, SUM- wa aed Gnnc
The Common wealth has given the rrope-' i"' no 'aAe
.Lla considerations Let attend - III" facts lev mo
rneas Let read p,gc fIhm hrrecoa 3i e past lh2
Common wealth OF Ngiua subscribed me sum ~ S-)9VVv
30 tho s,yyi o: the Seial an: 3O.Grac E;i! ltoad Cont
cimpty sual gp IN Deb; sni ce!'a n' paw
apt called unrn rhn STATE Tor nil. hc Ste panca i.c
company $3.50 COO 40: tu,s r: npen tic WORK Tor th'
1ncp. and iur;cs What t.,aiIc u her money IN l's
voiA? Sh, s' tie Whole concern !" HE town 4 l%,
ro@ n Tor go 900 iHt the State HcscT got tHai ma
m VAS afterwards rc!Cas H md given up ~ He town y
= r!sigu; and the State sunk l.: i r'ncGti' :'o1e man
hait nIion OF the money aa property q the p'ogis-
It, .E asa:n TIE State hal an interest IN tHc nlh-
r...tT ana Potomac Hal !soG Company oi 5-'1uyV one
,out nt II. She gasc nP he. t'r iH'.-
-cst for ui aunGlirs u S5 0DU, TIM" sHniug Sc6Otg
A,;o sue s.ss",.otd $4,000 10 ti,. s,ocl Of hc
Gi;, Point !'a Road Company. itot coaiParr g"t INTO
ans! ficn: -" nd !! c"n5 TO me re- 'fy 81 IN.
!morlr IG- Si.c luanci them S3vUUU, .Ld TOOK
her .rt..2e We'll sir how dr II endf u was 500. % me
.w cf Petersburg mr 5lUtG0 The State sIiHlhe one hii
ird thousand dors Agan-iha state gave t"''ilit =
fuf the construction oi the Richmond ana .eie'aoh
Rail Road. 'fae company got into den., could ia" no
dividends; and they apply or aid, anh promise tha The
s.ac il! loan t N $3.50 900 they viii pay the Stale Pc:
cent unon the Investment made The money was oaneG,
al he promised per cent paid Tor three years ne,
en aaSr The State 10 convert the whole loan h'" soch 81
J -
sant ~ this Day 2 Sir hrrce contest IS r0S "1KnG Up
propositions relieve this company irot c!!fcus
a,u whrm it, Va asked 10 loan thi5 Company
800 0UG sr;nrisc them se new s;pcn al H:i t!e
Price ut the original surcs - ray io Gia ha:#E .e'
'h.ui and wE,rh teg i; aHs= 10 c;i.=t @cit iHc
:ar= npY2 has So" 0oG nsesrG tE1 co1cc:G ! y IN
IN r-ca! lhr9v.t.!-c of a:si Na. and SrG - !f-a7
Ce!.n !t ihcg a.rw :Ga: :aoeG 'a5 e.: 1a;2r:'gc
oy,. 1a. e tie !z .5ss j. tho : .. :" = re yet ne
-r7:a:: a. IL Coz r=&,:I ii= - l.Gs ncEe
are o.ir iI .arCc-. In2 :s4 s- 5.c@ nc s1;ne . a
Yet .c? cciyaHc: come 70 asa nls I'D Sy c"':I-
sG 20 he so-ea: and 0iie . pay Aa6 ;e c1@poay nov
bcrGre ua Under similar difficulties w'h ,e bete: f!os
ultimately principal .! this lean SIR, deny H. II "e
in His a but psss the game grouni We haze 20
o:!en ruvelcd DcEc in regard 10 others. Let US cAamne
one namcn Individuals and corporations other than the
STATE have exrencG this work about 5000 GOO and That IS
10. v,r property upon wilch Fey propose 10 secure e
Sat. III. Of $500 0G0 they desire We stall Loan I"
=iI. S i tim; sufficient security II The whole con
~ 'o-rnorr"s@. Stat" interest an@ al t"c
. $500 CG0 ~ would rot III my upElDn, oFn@ i@ s'',
veil sir Inc r.u:ie tlil Read Company :"i:e .,.0
~ here Tor loan II $500 Geo ard after cocti!@ WEE
u: iu,. aud cGgpor. toTs other ;tan tue >''" "i. ~
It spent ID this work dciuCtng the ttois ""e " "sc'a
Ii COMPANY, there is property max ~: coz so:e
iT2 $500 co., which, is asserted ie
= for loan q! $4,000 hard cash "ho oeHsSes 10 Tue
ceucy Of ,his security1 Senators wno lake ' pos oo