Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1853-02-01

uo, ,,;,,l stock SO 900 OOU States pot
linn 81 800 OOO further amount Iequfeu - o"n ooo
!, 81 OOUOOO; whole cost oil CONSTRUCTION
norton furnished by State u'ue' ''' -,
tenn s2sUOOO0; that under INC ''''te-"'" '' ,a-a
90 am O0o annual interest TO be met oy tio Va"
100 ,bs pan of loans Sl6500O annual lnte1es: u"o'.
sr n,,n Ooo Now tho net, earnings OF Inc
'hce ~ no npe pcr cent on four millions, Tie COST
81 constructions or $4,000 under the loan system ''
- I'D ,occ;vc the whole OF this to offset aehi'''
nm d n, tax would be reduced by mat amount u
= a,oo NM while under the three-ti'ths system '"e'
uonl, recejye only S24 900, but TO Do oAse''u
e,As nm leaving balance Of slZoooV' i"uS Z" .
,h,, If the net, earnings should be only 0"' pI
.navers would DO burdened by so'ooo no''
| -. under the three-ffths system; but II tho "
.hold be t,eo DER cent, $4,000, then' under NV
TOM tho tax -payers would receive s'o'ooo, Id,.,
,ra noa fnhs system, only si3OOO, ana II We "."
''.e VIZ eIco 0OO and $4,000 from slIlOoU'
tho balances against the taxpayers ~
80 .oc oo0 resnee4Iyey or they would pay s4oVo "'0
;, a., s0bs sustain And so il will De iolhu i"' ''
| - Is nm. ,er cent. the taxpayers VIII DC pe''e' o'
d, tho o,n system than under the hfec-''''' Syse'
81 bi constant sum OF $4,000 for instance inc hc' '
ina should be ten per cent on the cost Of coh7"uc"on
Sam 600; under the loan system Inc taxpayers ou'
eivs ou of this sum, first S7OOOO interest," le"
ho sidue as stockholders sl9SOOO, in all SOS OOO
r ,hey mako profit w.t. the excess OF ms sum over
the interes, of 0O0 over slboOO which sUoOV
,,d.r The hs SYSTEM the other hand they "ouia
receive only s24O000 from which, if we subtract s4lo
or the annual interest the three-htth5 suoscrPon we
have se6 0oo suwng that the payers would make cs
by "a OC under the three flh5 than under the loan sys
tem So if the calculations be for Elk SEVEN eight,
eleven twelve per cent the result would DC The same
81 900 in every case in fvor Of the loan System Now
nf lend Of
impossby (even the canal earns an amount sufficient I"
nav co per cent on its entire cos Mcssrs GoooE and
YEppy admit unless have been wrong in our cy
phernes their constituents will actually have loss TO pay
the loans be granted than II the system be To-
sisted
The phrase "Loan System should carry with no ,errors
to the members OF the Senate. II should rather
be termed "a plan for completing the great lines IN
the railway system Of Virginia" There is mol an
advocate OF the system who does repudiae IL an og-
nal general one, be universally followed The ques
is not. sha adopta loan system but rather when
of two syeteras shall we choose that which in compliment
The muserly conclusive and unanswerabe argument oil
Mr. WALLACE might be denomnated the Petersburg ,ys-
tenn or that Other which for better name we may term
the "Cupeper sYstem?" Under the the State can Dor
row from herself at five per cent? under the other she
will be made borrow from others al seven The one
leaves nger in poverty, and Increases and pro-
longs burdens OF the people The other hastons 10 MI
the land with plenty and the country with buoyan propc-
rty The is paralysis and fixes upon US the wrinkles OF
e drcreptude; the other sends The rushing car IN all
directions through the Commonwealth as The heart does
the life current through the natural body, giving lie and
strength and health In making choice between The wo
the writer who is payer, cannot fora moment hesitate
He il not unwilling aid leading public works In the
popcr mode bur they should forget that they arc not inc
only prea interests in the Commonwealth, which are 10 DC
cherished and protected When they were IN Their infancy
weak helpless. and without RESOURCES he dd not oolec 10
their receiving direct appropriations But now that hGy
have attained the strength Of manhood with iul col
s and bright and Frightening with every step Of
,hcr nropess ii they hope &c. the States they
must nav for the use Of il When they come forward with
their bills asking for yet additional appropriations he Is not
disposed 10 yield demands alike unreasonable and 3rd!-
nato SOUTH-SlDE.