The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1854-07-21
from the Evening Bulletin. |

MEssKs. EDIToRs:-I may be mistaken,
but it does to that the subscription which
proposed and for which vote to be taken Mon
day next for the relief of the Virginia Central Rail-
road Company, is most absurd proposition far as
applicable to the interests Of this city 1t is smart
thing in the company to apply for the subscription,
it; and had hoped, though in vain, that some hea.
vier taxpayer than myself would have entered upon
the task of exposing the very slight claim which the
company has upon our generosity or confidence.
1t will be recollected that scarcely twelve months
have elapsed since subscription OF $2j0,000 was
made by our city to the stock of this company and
the argume nts tn en- adduced and which proved most
effective in securing the subscription, were, that
Richmond had never subscribed dollar to the stock
of the and that unless she did the county
of Augusta and other counties on the line of the
route to Covington could not be expected TO come
forward with their subscriptions and aid in building
work confessedly of common interest to the city
well as the counties the line In that spirit OF
expanded berality which our city has displayed
in matters of the kind, notwithstanding the tneers OF
prejudice to the contrary and in view of the fact that
the stock of the company could be purchased freely
at S65 per SHARE the citizens Of Richmond generously
responded to the call and increased the already hea
Wy debt of the corporation to the extent desired
The bonds for this subscription in part,
dragging the market, and the probability is will
have to be sold at par, when at the moment of sub
scrption zeal enlisted and spirits cheered
wi the declaration that premium of six per cent.
could readily be obtained What has since been tn
action of the rich county of August and the patriotic
and publicspirited citizens of Staunton4 Alas my
countrymen what fall was here. The very men
who thronged our streets for weeks before the day
on which the vote was taken, and who on that day
tainted our citizens at the polls with their want OF
public spirit, and went far to threaten us
with determined effort transfer their trade to Al
exandria and Baltimore, were found but a few days
afterwards. when a poll opened in Staunton for
subscription only of $500 $4,000 voting al.
most unanimously againstif. Not only has the county
of Augusta refused to subscribe dollar to this COM
paDy, but assert without the fear of contradiction
that since the day which the city of Richmond SO
foolshY placed in the lap of this company the large
sum of 5000, 000 flor which, thus far. she has re-
ceived nothing except the comfort of knowing that
she has done something towards the extension of the
Orange and Alexandra Railroad to Gown gton,) not
additional dollar has been subscribed to the work
either by individuals or counties What commen
concu sively that Whatever remains to be doue be-
tween Gordonsville and CoviDgton. will have to be
performed by the city of Richmond Do citiz
know what this will amount tol | will tell them.
At the last session of the General Assembly, the
sum of 81 500 600 asked for and calcuai ions
exhibited to prove that the work could not be com
pleted for a less lien on the extra property
of the Company was offered security, but the an
pl cation signaly rejected This amount is siill
State, which owns three-ffths of the stock of the
Company. Richmond is gravely asked to contribute
it. not indeed all at once, this ght
600 at time The city Of Richmond is not even Of
fered the terms proposed TO the State, by which
perhaps some security for partial recovery OF
asked for subscription of their money instead CT
loan oft, and thus in the face of decline of the
STOCK OF Inc company, WlCnln Twelve months from
$65 to S423 per share =! Pari passu with the town
Of Alexandria. and the different counties between
Richmond and Covington, would be willing to sub.
scribe the stock OF the Virginia Central Railroad
Company, notwithstanding the stock as well as the
bonds of the city, so much deprecated and the
debt ofthe city much increased but do protest
gainst the burthen of the whole work being thrown
upon the city of Richmond. which, with a. much
pIoprety should be called to construct the extern
sion of the Orange and Alexandria Railroad from
GoIdonsvile to Lynchburg, as no man can upon the
least reflection. come to the conclusion that pas
senger ton of produce reaching Gordonsvlle from
Covinston is under any stronger obligation to come
to Richmond, than PASSENGER or ton of produce
which may reach the same point from Lynchburg
In conclusion, regret to observe that the Press OF
Richmond is disposed to 20 it blind in regard to the
contemplated subscri pton. They cannot certainly
be aware that the city Golfers are exhausted, and
that temporary accommodations furnish at DR. esept
the only mode of meeting the pecuniary engage
ments Of the corporation. Indeed, l am authorized
by the facts of the in stating that the finances
of the city are in most deplorabe condition, and
far from jusfying us In the sacrifice proposed on be
half off concern in which the State, the party mt
interested, has not only interest of three-fft
but likewise a mortgage on the whole property OF
the Company for loans made in addition to the sub.
scTiption of the Commonwealth.
jy2i-lt* CIVIS