The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1853-05-18
ADJUSTMENTS.


,,G 80 the Voters of nIchmond,-1
na te $50 inst proposition to subscribe $780,
On email OF the city to the stock of the Virginia
Central Railroad Company will be submitted to your
decision, and In connection with the subject ones.
ing effect: ~ '-S iS''o"
Ist. Does the financial condition of our city war.
rant an appropriation of such an am, unit
I'd. Can the appropriation be justified either az an
investment or on the ground OF a udicious employ.
ment OF the amount in behalf OF the city?
81 Wll 1t not be best for the real interests of the
RAJ her TO employ 1t in the constr action of another
railroad on the direct route TO Charlottesville
In answer to these questions, tine following the
conclusions TO which the writer has arrived and the
are respectfully submitted to your consideration
That the finances of the city do not warrant the
appropriation, needs no better illustration than the
fact, that on the 18th Nov, 1850 when it. debt
amounted but to $3.50 900, appca ion on the part
OF this same company for subscription to the extent
citizens, and now, with an Indebtedness the part
of the city of 81 900 at least gravey asked
to subscribe the sum of $200,00O!.
As an investment of money by which the city will
be made to pay 500 per share for stock which can
purchased by others for half the sum- certainly
this application of our money cannot be justified in
financial aspect especially not in view of the fact
that this same company has application pend
ing before the legislature for the privilege of construct
ing more direct railroad between Charlottesville
and Richmond, in which event the present road,
though costing at least 81 100000, win have to be
abandoned to some extent of course, thereby dimin
is ing the property of the company in like ratio
and the effect therefore, of such movement cannot be
otherwise than materially to deprecate the value OF
this stock IN the estimation of the public dsad-
vantage OF this character might however be overlook
ed provided certain and remunerating increase OF
the business of our city would result from the appli-
cation OF the money now asked at our hands Such,
no Vever cannot be the In this instance, unless
all the rules which govern trade are discarded The
amount is wanted not build perfect road direct
to the city of Richmond but to complete one between
Covngton and Staunton, by which the latter point
1t will be placed in close connection with one 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, over disan-
ces, 1t Is true somewhat greater but with facilities
IN curves and grades infinitely superior the
sent route between Staunton and Richmond as to give
the two points named advantages beyond any COM
parson with those afforded by the route to Richmond
whilst any trade travel which escape the oppo
slton referred to at Staunton will be subjected at
Gordonsvllle to the competition of Alexandra one
SIDE and Fredericksburg another the first almost
the same In distance Richmond and the latter less
than one half and though the argument is sometimes
resorted IT, that the Virginia Central Railroad Com
pany, by terminating IN favor of the city Of Rich
mend, on the trade or travel which it may bring to
Stanton and Gordonsvile, can prevent any serious
diversion on this score, it 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 thai it will be infinitely better to de-
cine subscription TO the work in question: and if
the funds 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 to Covington if
cessary to guard against the probable diversion of
our trade and travel at Staunton and Gordonsville
all must admit, that whenever such road does be-
come necessary it Will devolve mainly the city of
Richmond in conjunction with the State, build it.
The proper course, therefore, for to pursue will
to husband our in view of such contingent
cy assured we must be, that whenever the direct
road referred to shall be built may then bid adeu
to any apprehensions of abstraction of our trade
and travel, either at Shunton, Gordonsville the
Junction, direct road to GOWNS ton will touch
neither point and result in saving in distance of SO
60 miles in favor of Richmond, hall of it be-
tu cen Richmond end Charlottesville, and the remain
der between the tunnel and Covngton.
A TAXPAYER AND CITIZEN.
nv I1-9t&