The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1853-05-16


Monday the Esd inst, proposition to subscribe $780,
600 behalf of the city to the stock of the Virginia
Central Railroad Company will be submitted to your
decision, and in connection with the subject ques-
tons will arise IN your mind doubtless to the follow
ing effect:
Ist Does the financial condition of our CITY war.
rant an appropriation of such amount!
I'd. Can the appropriation be Justified either an
investment, or the ground of iudicious employ.
ment of the amount In behalf of the city!
Sd. VIII it not be best for the real interests OF the
Cit, whenever the money be conveniently raised,
rather to employ it in the construction OF another
railroad on the direct route to Charlottesville!
In to these questions the following are the
conclusions to which the writer has arrived and they
are respectfully submitted to your consideration
That the finances of the city do not warrant the
appropriation, needs better illustration than the
fact, that on the 18th Nov. 1850, when its debt
of this same company for subscription to the extent
only of 100000, rejected by decided vote of our
citizens, and with an Indebtedness on the part
of the city of 81 600 at least gravely asked
to subscribe the of $780, 000!.!
AS an investment of money by which the city will
be made pay 500 per share for stock which be
purchased by others for half the sum- certainly
this application of money be justified in
financial aspect especially not in view of the fact
that this company has application per d.
ing before the legislature tor the privilege ofconstruct
ing a direct railroad between Charlottesville
and Richmond, in which event the present road.
though costing at least 81 250000, will have to be
abandoned to extent, OF course, thereby dimin-
isbing the property OF the company IN like ratio,
and the effect the ef0re, of such movement be
otherwise than materially to deprecate the value of
this stock in the estimation of the public disad-
vantage of this character might however be overlook
ed provided certain and remuneratlng increase of
the business of city would result fom the appli-
cation of the money asked at our hands Such.
however cannot be the in this instance, unless
all the rules which govern trade discarded The
amount is wanted not TO build perfect road direct
to the city OF Rchm0nd, but to complete between
Covington and StauntOn by which, at the latter point
1t will be placed IN close connection with already
located in the direction and which will be pre-.
pared to transport the trade and travel thus secured
either to Baltimore by the way of Winchester.
Alexandria by the way of Manassas Gap distan-
It is true, somewhat greater but with facti
IN curves and grades infinitely superior to the pre-
sent route between Stanton and Richmond as to give
| the two points named advantages beyond any COM
parison with those afforded by the route to Richmond
whilst any trade travel which can escape the oppo
sltlOn referred to at StauntCn, will be subjected at
Gordonsville to the competition of Alexandra on one
side, and Fredericksburg another, the almost
the IN distance Richmond and the latter less
than one half and though the argument is sometimes
resorted to, that the Virginia Central Railroad Com
pany, by scrmnatlng IN favor OF the city of Rich.
| mond, the trade travel which it NAV bring to
Stanton and Gordonsville can prevent any serious
diversion on this score, 1t amounts to nothing. in
view OF the fact that the Virginia Central Railroad
Company has contracted with the General Assembly
to make no determinations IN favor of its own, or
against any connecting road whatever. (See Acts of
| Assembly, 1848-49, p. I0l)
The necessary reply therefore, to the third question
which arises, is that it will be infinitely better de-
cline any subscription to the work in question, and if
the funds can be conveniently spared (which is far
from the now,) at future day, to appropriate
the amount to secure to Richmond more direct
road to Charlottesville and Covington, if
eessary to guard against the probable diversion OF
our trade and travel Stauntou and Gordonsville
all must admit that whenever such road does be-
come necessary, II Will devolve mainly on the city OF
Rchnond IN conjunction with tie State to build 1t.
The proper course therefore, for to pursue, will be
to husband resources in view of such contin5
cy, assured as we must be- that whenever the direct
road referred to shall be built may then bid adieu
to any apprehensons of abstraction OF our trade
and travel, either at Staunton Go.donsv1le or the
Junction. as a direct road to Covins ton will touch
neither point and result in saving IN distance OF %
60 miles in favor OF Richmond, one half of 1t be-
tWe Richmond and Charlottesville, and the remain
| der between the tunnel and Covlngton.
| TAXPAYER AND CITIZEN.