The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1853-05-14

R- To the Voters of RichmOnd.-On
Monday the Esd inst proposition to subscribe $780,
600 on 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-
lons VIII arse IN your mind doubtless to the follow
ing effect:
lst. Does the financial condition of our city
rant an appropriation of such an amount!
ID Can the appropI iation be Justified either as an
investment, or the ground of judcious employ.
ment of the amount in behalf Of the cityl
Sd. Will it be best for the real interests of the
cit whenever the money can 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 which the writer has arrived and they
are respectfully submitted to your consideration
Tnat the finances of the city do not warrant the
appropriation, needs no better illustration than the
fact that on the 25th Nov. 1850, when Its debt
amounted but to $3.50 000 application the part
of this same company for subscription to the extent
only OF $4,000 rejected by decided vote OF our
citizens, and now, with indebtedness on the part
of the city of 81 $50 600 least gravely asked
to subscribe the sum of 5000 000!.l
AS an investment of money by which the city will
be made pay 500 per share for stock which can be
purchased by others for half the sum, certainly
this application of our money cannot be Jnslhed In
financial aspect especially net in view of the fact
that this company has an application now pend
ing before the legislature TOR the privilege OF
ing direct railroad between Charlottesville
aud Richmond, in which event the present road.
though costing at least 81, 900, will have to be
abandoned, to some extent OF course thereby dlnln-
istng the property of the company IN like ratio,
and the effect, efore of such movement cannot be
otherwise than materially to depreclate the value OF
this stock IN the estimation of the public. dlsad-
vantage of this character light however be overlook
ed, provided certain and remunerang increase OF
the business of our city would result tom the app-
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 or perfect road d.
rect the city of Richmond but complete to
Covlngon and Staunon, by which, at the latter point
it will be placed in close connection with already
located in the direction, and which will be pre-
pared. the trade travel thus
either to Baltimore by the way of Winchester to
Alexandria by the way OF Manassas Gap, over dstan
ces 1t Is true, somewhat greater, but with facilities
In and grades infinitely superior to the pre-
route between Staunton and Richmond, give
the two points named advantages beyond any com
parlson with those afforded by the route to Richmond
whilst any trade travel which escape the oppo
stion referred to at Staunton will be subjected at
Gordonsvllle to the competition of Alexandra
side, and Fredericksburg another, the first almost
the in distance Richmond, and the latter less
than one half and though the argument is sometimes
resorted IT, that the Virginia Central Railroad Com
panv, by terminating in favor OF the city of Rich
msnd, the trade travel which it may bring to
Stauhton and GordonsvlHe, 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 determinations in favor of its own,
against any connecting road whatever (See Acts of
Assembly, 1843-49, p. I0I)
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 be conveniently spared, (which is far
from the case noWl at future day. so TO appropriate
the amount to to Richmond more direct
road TO Charlottesville, and to Covington, if
cessary to guard against the probable diversion of
trade and travel at Staunon and Gordonsville as
all must admit, that whenever such road does be-
necessary, it Will devove mainly the CITY of
Richmond in conjunction with the State to build it.
The proper course therefore, for to pursue, will be
to husband resources in view of such contingent
cy, assured must be, that whenever the direct
road referred to shall be built may then bid adeu
to any apprehensons of abstraction of our trade
and travel, either at Stanton, Gordonsvie or the
Junction, direct road to Covinston will touch
neither point and result in saving distance of 50
90 miles in favor OF Richmond, one half of it be.
tw Richmond and Charlottesville and the remain.
der between the tunnel and Covington.
A TAXPAYER AND CITIZEN
my l4-8t*