The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1854-07-24

EDITORS DISPATCH " tide your sesso, 800. !.
turdaJ. Please insert per eoatr.r .nG e1,
usual. A #
FINE Ak f4Hss Fss s4T 81
On Monday next to-day, poll viii be opened. By
.cIipt,on b. the city Of Richmond to the Csntral
Nv the CITY Of two hundred thousand dollars for the
the benefit OF that Improvement. An ehort was re-
Gently made in the Council TO defer the vote on th
urebsby be more full sftensapce at the polls than
there can be at a time when, in consequence OF the
sh yoesr. NAV be absent reasonable
noeitiop however, rejected, and the vote VII
:. time IL ,s. ou.bt e ts
the deepes st interest In the eubiect
n i not denied that the Central Railroad b crest
That it, olcess are trustworthy and
lous in the discharge of their duties to the
The same m.y be ssio, with eqssi truth o. oinsf
overloaded with debt for State improvements. and
thousand dollars to the Central read should be
called upon for another heavy subscription FOR the
object We ashs With :GSss. y .D Ds
and every Improvement In the State
IL 10 proper that should enquire, mot only INTO
ton and into its probable effect upon credit but
into the syeciai benefit Richmond 10 to derive from
Tn. whole linz Of the si! hesd Iom e
the heart OF city 1.-THE Interests OF hionn,ona
suffering likely TO suffer IN noStio On
Of the TOAD, without which would be deprived OF
its advantages the expediency OF such
would b I nes anieig ha the trade
mond is at this time much benefited by the Cen
trail Railroad finished to Stsunton, as It VIII De az any
future period Let the road be completed 20 It's pro-
nos.d Weetern terminus, or even to Covington-and
who is so blind not to perceive that In antelope
be tapped at or beyond staunton, By q branch
tbrourn the Valley to Winchester and Baltimore
which may carry swsy mot osi s anne sut
terfere with the trade on this side Of Staunton,
which would otherwise find its way to Richmond =
Has not our city enough to do In the way ofimprove
men nearer home and within her corporate limits
without exhaustine her funds and augnenting her
debt upon State .corks to which she has already
TINTED much more than her full portioul When
and where is this suicidal policy to stop? The Gem
trail Railroad will be as much in want Of another
this moment. Many millions must be expended and
many ears must elapse before the road can be COM
pleted
deemed highly important to accommodate the Inn
men,e travel 20 the WHITE su UP spInss wn r
no doubt be very acceptable, and may be asked with
as much reason and plausibilty the demand which
will subscription of 100000 be able to effect to-
wards the completion of this mammoth scheme,
which it is absolutely certain win be completed In
due time by State means, whether city shall
make any further subscription or not? Another SUBJ
scription might aid the company in accelerating the
construction of few miles of railroad around steep
mountain cliffs But another and another subscription
of 5000 so many drops in the bucket, viii again
be wanted, and the same arguments now addressed
to our gullibility will again be employed from time
to time, with Increased force as the road, during
long series of years may be gradually sppIoaehins
own work. which she will assuredly do without any
further aid from u.s. unless we by our simplicity in
yielding to every demand that il made upon US, ac-
tually encourage her to hold off and retard the
complishment of the Improvement. by waiting for
all the aid that may be obtained from vountar, con-
trbutions. The Batimoreans and others interested
in the trade ard travel of Western Virginia. ale no
doubt smiling at our good natured simplicity, and
feel special interest in the result of the vote on
Monday. 1t is their policy at present to keep quiet,
and to evince no anxiety about the contemplated
Tsilroad through the Valley and its connection with
so far West to answer their views and purposes
and charter for the Valley Railroad, connecting
link with Baltimore, will not only be urged and OBJ
tained but the interests of Baltimore and the rich
country through which the road must pass, will
speedily procure the funds necessary for is compile
In considering this subject it our duty not to lose
sight of che debts and liabilities of the city.
lain exhibited total debt due the LIST Of March last
Since that period additional loans and liza
bilities have been incurred, amounting
TO upward Dr.. OBSERVATION-DISCLOSURES. Soo,0UO w
which, with appropriations included in the above
make the city debt amount at this time to a sum
DOLLARS. This is certainly enormous debt for the
city of Richmond, especially when we consider the
extent of our populations large. portion of whom
being slaves, not only pay nothing, but are them
selves subject of heavy taxation to their owners
Our taxes too, are heavy, and steadily increasing
ton improvements and establishments, which we
have not the means of obtaining without farther
augmentation of debt OF taxation. Of the present
city debt the of S1a6 $780, exclusive of interest
has been created by subscriptions to State improve
ments which, to the present moment have not con-
n q q tn 0ur
Treasury, while we have paid and are now paying,
semi annually, large sums of interest on the debts
contracted to meet those subscriptions Is time
then, that should derive some profit from the ad-
montions of experience, Ard pause awhile before
provement, but by voluntary and unnecessary con
tibuton to State work, which certainly has no far
ther claims for aid in our city.
1t becomes too to consider whether TIE credit
of our city may not be materially and very justly i'm
paired by so reckless an expenditure is pro-
posed May it not seriously affect the va ue of the
city stoks now held by many who, relying on the
diecreet management of our city finances nave in.
vested their funds in corporation loapsl Are not
our city stocks, ut this moment unusually heavy on
the MARKET and may not this be the natural conse-
Of the vote this day tMondsyG Who would not no,x
hesitate about paying the prices long since ed
for our stocks, when in short time. perhaps large
upon the mark to meet the demands of a railroad
company, whose stock has recently been sold at
hibiting no very fatterng prospect of ever making
any return whatever to the city in divdends7 Would
the city be acting in good faith to those who have
paids premium tor her bonds to depreciate them so
unnecessarily and so wantonlyl
IL time permitted. other objections might be urged
against the proposed measure But it is deemed un-
necessary to do 1t should be borne in mind how.
ever, that the City Council will be authorizs to
make the subscription If bare majority of the free
holders who vote, however small their number shall
be in favor of it, 1t should be remembered that IL
the vote be small may be in the power OF an incon
siderableHminority Of the freehoders decide the
question, and to impose burthen upon large maio
rty Of those who il present at the pols might have
decided otherwise 1t Is the duty of all, then, who
and not through mere apathy to suffer their wishs
to be defeated full of the free holders IL il
confidently believed, will relieve US from the prone a
ed accumulation of debt, maintain the value of onr
stocks-and preserve the credit of the city
JyA-lt A TAX PAYER
TO-DAY,
IT il nr0nasod To niro ano4ba. =