Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1853-03-12

StoASS WHOSG Iilll lbs uteu edSleE OUT II Inc |
gentleman must have an answer, | will give him |
the only one that properly be given, and it is |
TINS: that mortal ken cannot look through the prob
lem he proposes. The stimulating influence of
that creative agency, the railroad, upo- produc- |
ton, upon travel, upon trade, upon revenue, can
scarcely be reduced TO calculation. So TRANSFORMS
ing and wondrous is its power, that the calculator
becomes bewildered, and shrinks impotent from
the task of reducing even to approximate estimate
its mighty results.
But if my friend from Northampton would he
furnished with the data for the best approximate
estimate to be had, let him cast his eye the Erie
Canal. transporting nearly three millions of ton
mage, aud giving TO the treasury OF New York more
than three millions OF dollars per annum let him
look to the New York and Erie itallroad, convey
Ing to and fro its millions of souls, and taking for
It's income four millions ayear; let him turn to the
railroads o! New England carrying, on ten of them
seven and a half million of passengers in twelve
month, ditfuSing prosperity and wealth and social
cDmioft throughout that wintery land; and calling
to its cities the trade of the far distant west; let
MN look to the Baltimore and Ohio Railroad, Eulld-
ing up Baltimore into great commercial emporium,
and paying to her capitalists near per cent. let
him look to the railroads of Georgia, which have
made that southern sister of the Empire State
of the South; and if his hard faith will not relent
at what he sees beyond Virginia, let him come
within Virginia and take here at home the ecourag
ing data afforded by own railroads for the basis
OF an answer TO his inquiry, and am sure that he
will lind himself brought to the conclusion at
which and others have long ago arrived, that
there will be much travel, so much trade, so
much revenue, that while we cannot accurately
figure them up there will certainly be enough to
give us remuneratng per centage, and to save the
State harmless for any loans we may make to our
railroad companies
Sir, the marvellous effect of the railroad in gene
rating travel, ought of itself to disarm dstruSt.-
The extent of the effect we can't compute. Men
and women sped Oh its track, who were never
before out of sight OF the smoke of their chimneys
No one can tell whence the travel comes. But
this we all know-that build the railroad hen we
ewlli,and where will, then and there the stream of
travel begins TO course. Travellers come i'll throngS
where from or whittier bound, no one knows. But
| so 1t is--"they come, they come, and still they
| come, wave following wave, like the dashing
surge OF the ocean, IN never ending succession
furnishing to the iron thoroughfure its main ee-
ment OF profit, and the basis of lis capacity to
transport 10 market the heavy products of the
| country.
beg leave now to call the attention of the House
to two important propositions, which think fairly
deducbe from the reasoning, have had the honor
of addressing to it. II have succeeded in shew-
ing that the plan of State loans is the most certain
and the SpEedlest tor tile completion of public
works, il seems TO me that may claim as corola-
rleS from these positions FIRST that its adoption will
tend greatly TO advance the Central conneXiuu
with the Ohio valley and secondly, that it will eff
tect the earliest reduction oil Our internal improve
ment debt, and, consequently, the uiminulon of
the taxes
Upon the value of the Ohio connexion, have
so oi:en dilated i'll this House, that have only Ia
say low, that il is my Judgment, the chief hope
OF The State toi reclamation of her lost commerce.
presenting as II does the ShoreS ira nSt betw cen
deep tide water and the west; and that its earliest
practicable contamination is demanded by this most
important financial consideration, that il and If
alone can render fully available, in point of reye-
nue. ami trade, our large investment in the ameS
| river canal. ..-. s..H.-r
But how, it may be asked, will the loan principle
bear on this great object! The answer is obvious;
whr our principal rail- ways shall have been
peled, and Shall pay per cent. on the cost the
treasury will be reliLvetI to the extent OF that cost,
and we may then the more concentrate efforts
and our means on the great Central line. The
Soulh-Side, Danville, Virginia aud Tennessee,
| Orange and Alexandra and Manassas Gap be-
ing OIL our hands, we may proceed with more
| certainty and greater despatch in the prosecution
Of our Central thoroughfare IN the Central interior
of the might west. In trlte phrase, shall "have
fewer irons in the fire." and better opportunity
| nurse those that are left in the furnace.
Gentlemen talk much of the few thousands we
have lost by loans heretofore made to internal
improvement companies. Why do they not con-
slider the loss the State has sustained by her laggard
course in regard to this Ohio connexicn? What
lave we not lost by the poStpcnement! How
much of political power, of commerce, of manu- fac =
turing enterprise; how many millions of CONNER
cial and manufacturing pront have we not thrown
away by allowing the commercial Start to slip from
our possession! suppose twenty years ago we had
tapped the great western valey-with our closer
proximity, SUMMER climate, and easier grades adj
vantageS which the Creator of the Universe has
given US, and which no amount OF energy mon
| ey can well ofSet-what would Be now the posi-
ton of this city and Of Norfolk! Sir, they would
be al this moment far ahead o.. Baltimore, large
market towns for people, and the seats oi
louriShing commerce and manufacturers, fthe me-
chanic arts, of busy industry in all its forms, while
our political influence in the national confedera-
ton would have been pres rved. Let gentlemen
who lay much stress upon our petty losses by the
N III n IIDnn
those which have come of our supine ana timid
oounsels, and when they shall have counted up the
millions upon millions of money, and estimated the
political power, and the wealth and social comfort
we have sacrificed by the delay in consummating
our grand western conneXlon, they will cease t
sled tears the past history of our loan system,
and resolve on maner and wiser action for the fu-
ture.
The other proposition scarcely needs comment.
Ii the roads will pay per cent. net, there end
10 the State debt to the amount of her investment
i'll their cost, and, of course, to the reqni1el
TO pay the interest on the amount of that IT,
for example, the DaLvile, South Side and Virginia
and Tennessee roads lin which the State has in
terest of four millions,) pay7 per cent. when fin
iShed, they furnish the State per cent per annum
that is $3.50, 900. This sum of $3.50, 900 IS conse
quently, no longer raised by taxation, and is Sc
much SubStrJc.ed from the annual taAeS. Tina
policy, therefore. which shall soonest complete ou
public works, will soonest relieve the people of the
internal improvement tax, and that policy have
shown to be loan OF the bonds OF the Stnte Every
tax payer, therefore, in thu Commonwealth, has
an interest in the adoption of the loan principle.
propose, now, to consider some of the objec
/ tons urged against The principle
1t is said by the gentleman from Mecklenburs,
that if We apply the loan principle to this bill, i
| will become an established system, and result in
throwing upon the State the whole burden OF oul
internal improvements.
Sir, this by no means follows. We are bound tc
suppose, that the wisdom of the legislature will, ii
this case in Others property discriminate il
the application OF the principle. 1t need not
and cannot be, of universal application. The
>entra railroad, from The western base of the mo
/ aintn Gox fhan