Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1854-05-17
Central Railroad.

Col. Fontane, we are Informed, has recently
negotiated in New York, the bonds of the Gen.
trail Railroad at par value, for sufficient amount
of iron to replace with the heavy rail all the re-
naming portion of the strap iron now onthe track.
This fortunate purchase will enable the Conpa
ny speedily to remove thisO!H fewoach and source
Of constant danger anddelays entirely and forever
from their road.
The coup'r botjs'of the company, authorized
TO be ssncta at tie recent meeting of the Stor.. A.
holders, Ire now ready for sale. We think they
ought to prove god investment. they can
doubtless be bought now, limited amount at
least, at a discount, say per cent, while they
will pay punctually per cent. per annum, semi
Annually and the principal will be amply secured
by mortgage On the entire net property Of the
Company,
There are now no more State bonds for sale at
the treasury and the few that can be occasionally
found in the market are only to be had at high
premium. The interest, therefore, on the State
bonds will not really amount TO 8 per cent. on
their COST while the railroad bonds will pay quite
as punctually over per cent. on their cost. I'm
der existing circumstances there is indeed good
reason to believe that these bonds will in short
time command premium on their par value. An
examination Of the financial affairs of the Compa-
ny as stated in the annual reports, must assure
any one Of the sufficient security for the bonds.
More Trouble.
The Estates Rights" Democracy had hardly
ceased rejoicing over the Presidents veto of Miss
Dix's land bill. when the Union newspaperlet off
torpedo, which has caused a good deal of splut-
teration in the camp. The doctrine of strict con-
struction was presumed to have been asserted in its
length and breadth, by the President, and the
veto ofthe homestead bill was confidently antici-
pated. But the Union knocks all such calcula-
tons in the head. That paper says ''t is rash to
declare that because the President cannot approve
bill apprOpriating land for purely eleemus yna-
ry purpose, he cannot approve one which gran IS
his homestead to the hardy pioneer, or Ole which
grants alternate sections of land for the construc
ton of a railroad" The President has no idea
of falling out with Douglas aud his faction, who
favor the homestead BILL He has vetoed Miss
Dix's bill to please the Virginia school of politi
clans, and with that they must be content.
The Sentinel regards the Union's article as
''eminently calculated to weaken the force of the
veto message, and iucreace the feeling of uncer-
tainty and distrust which afflicts the Democratic
party" And the Richmond Enquirer says, it
will be 'read by the friends of the Administration
with unfeigued modification and regret"--that it
is calculated to injure the President, and to Sim
pair the confidence of the country in the strength
of his convictions and the stability of his purpose -
The Enquirer concludes as fellows
1--WE would attach no Importance to this para
graph, fit were not the prevalent impression that
the Union sustains confidential relations 10 the
Administration. In this view the language ofthe
Union is significant, and is calculated to iufict
great injury upon the Administrati N, at least in
the State Of Virginia The Democracy of Vir-
ginia have not taltered in the midst of fearful
detection nor will they prove faithess to the Ad
ministration while the Administration is true to
the principles of the party Bit, zee ,CiH not
undertake to ans,cer for The consequences of a
general conuiction That the President cip0t Nth
hold his sanction from The Homestead Bill"