Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1853-03-30
wMoLE NO. 7s.
THE LOAN sysTEM.

disagreeable duty. regret 10 oppose
measure in which so many friends take so.
deep an interest. Some men viii not
sleep well until this billis disposed Of.
viii not long rob themof their rest by de-
laying the recorded yerdics of the Senate
upon this question: do not doubt the
result. The bill will pass. And all that
remains to make it law, is the record TO
be made by the Clerk. Yet win raise
my voice of warning. Mischiefs incalcu-
liable are 20 result from the passage of
this bill. must say that this bill win
pass in opposition TO the better judgments
Of many Senator's who viii be constrained
to vote for it, under the ideR that il this
scheme fails in this form. other schemes
deeply interesting to them, based upon
different principles. must fail also. This
bill is a part of a sSysteRs-a series of mea-
sures of improvement. combining various
interests, and If it falls. the ''s1atsNis cOniis
aie,' the league is broken and each is
left TO shift for himself. We are about 10
enter upon new era in the history OF
this Commonwealth Our progress in
the system ofinternal improvements under
the old constitution, has bcen gradual,
prudent and cautious. but not always
wise. Under that constitution, o malori-
ty of n quorum could vote away the mo-
ney of the State. Under the new consti-
tuition, a majority of the whole number OF
the members Of each branch of the Gone
raj Assembly is necessary. The votes OF
tide-water were not regarded rs oi much
importance under that constitution, but
they are somebody now. And according
ly, il has been found necessary 10 enlarge
the theatre of our operations, and make
railroads along side of the navigable re
vers of tide-water; and that must be done.
too, before a single road has crossed the
Blue Ridge, much less the Alleghanies.s
Now, sir, the cause of all this is appa-
rent; votes are wanted, and votes must
be had, at any sacrifice. For months we
have been told that our country required
of US that the work in which the State
had embarked so much of her means and
credit must be completed. No more was
asked or expected. But new schemes.
that are to absorb large sums, are passing
the House of Delegates every day, and,
we are called upon 10 increase the debtoti
the State by ten mi,liuns at least. this
session, and that, too. under n form OF.
government that requires per cent up
on any sum VIC may vote, to be levled.s
collected and paid annually. Sir, Is ~
not time TO reflect little? Do Sena tors
believe the people Of this Commonwealth
are ready for this? Haze they expected,
this of us? We have got quite recently
a new form of government, that will cost
the people nearly two dollars TO one Of
the old. At the very FIRST session OF the
General Assembly, under that constitu-1
ton, while the people are complaining,o
and doubtful OF what has been SO recently
done, we arc about TO double the debt OF
the State. We arc to do now, to-day or
tomorrow. what those who have precc7
ded US have been a quarter Of y century
accomplishing. -s
Sir. does the immense increase OF the
public debt, at single step, bode no
evil TO this commonwealth? Sir. the
question may be said 10 be one OF honor
or dishonor. Do gentlemen expect that
so many millions Of oullbonds can be soidin
the market in SO short time and their
price be maintained? Does the occasion
require that our credit should be strained
to the very verge OIL hate 70 speak the
word-Bankruetey DC, DC? i viii not
say what. Suppose State bonds do fall
in price-they cannot be cold for any
sum that we are willing or by law can
have made break down in the middle
you will have done mischief that cannot
easily be repaired; your schemes Of inn
provemcnt viii be execratcd by the peo-
pIe Bhose treasures have been exhausted,
and the promised return has not been
made. Senators will find that slow and
sure progress is the best. Do as much
as the people can afford 10 do. Do not
4 Al.
emies of your cherished sehemes. Now,
sir. let US address ourselves 10 the ques.
ton Of this loan. Let us enquire whether
this is prudent and proper measure 70
compl te this imprOvement-whetheT, as
is pretended, the concern, the corpora
ton known as Che South Side Railroad
Company. IS solDent and GLls 70 pay the
loan they ask of eight hundred thousand
dollars. Now LET Us look few moments
into the book that records the history Of
what's past. The facts contained ia thAt
book, the lights Of experience are worth
all the hopes and expectations Of the fu-
ture, in the proper dete rminatiOn Of this
question. Nothing has transpired 70 jus
tify the senators in closing their eyes and
ears entirely % the past. and say that the
future will be entirely the antipOdes Of the
past. CURIOSITY upon the suDlectg ted me
TO the Office Of The Second Auditor. The
question was askcd-Did the State ever
loan her money 70 internal improvement
companies Yes. Did these companies :
evel pay Il back. either principal or in
tcrest2 Mol What has become Of i
II is lost, sunk. wasted. gone The
Commonwealth has given mp the proper
ty for no valuable consideration. Let US
attend 10 the facts fOi a few moments.--
Let US read page from the records Of