The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1854-03-24
THE DAILY DISPATCH.


THr JAMES RIVER AND kANAtHHA CANAL.
This Improvement continues to attract
rubl;c attention ~ one of the most importans
means Of communication between the Sea-
board and the valley Of the Mississippi. u
win doubtless command tho fostering care
and attention Of the next Legislature. ny
recent act Of Assembly, this Company nag
been subjected TO the provisions Of The code
Of Virginia, so far as they relate 10 in.ern1l
rmproyement and Joint Stock Companies
The connection heretofore existing between
:. the Company and the State, has been render
ed more intimate by this act and the Legis-
{ lssure win duly appreciate the important in
fiuence which recognition Of the control Of
the State in It's affairs win exercise over the
destinies ofthe Company.
The Commonwealth Is interested in the
success of this Improvement, not merely to
the extent of its influence in developing the
agricultural and mineral resources of virgil
mia, but rs affording the cheapest and most
certain avenue for the boundless productions
Of the West, now seeking an outlet to the
ocean. In financial point of view, the State
Is also interested in every measure that may
affect the revenues of the Company. The
Commonwealth is responsible for the pune
tual payment of the interest on guaranteed
loan amounting to $4,000, 600, and to the pur
chasers of State securities loaned for the
same purpose, for still greater amount,
while its originalinvestment ofthree millions
in capital stock has been wholly unproduc
tive.
Any plan that could be devised, with view
to the increase of the revenues of the Com
ration of the Legislature. 1t can not be ex-
pected that the revenues of the Company will
be adequate to the payment of its interest
and annuity debt, and for its current expen-
SEES, uhless some connection be established
between its Eastern and Western divisions.
Its belle red that the connection to be formed
by means of the Covington and Ohio Rail
road, would render the Canal from Rich
moud to Covington, profitable as pecuniary
investment The construction of the Canal
to Covington would probably add about
$4,000 to the annual expenditures of the
Company, required for the payment of inte-
rest and for the maintenance of the line
Should an adequate appropriation be made at
the expected extra session of the Legislature,
the Canal could be completed to Covington
simultaneously with the Eastern division of
the Covington and Ohio Railroad. Immedi-
ately upon the completion of this division of
the railroad, the Canal would be ready to re-
ceive the heavy tonnage from the West, and
afford the requisite facilities for the transpor-
tatien of the engines and other implements
required in the equipment of the road. The
Canal could be completed to Covington in
less than three years, at the expiration of
which time, the revenues would probably
reach the sum of $500, 900, which would be
sufficient to meet all of the liabilities Of the
Company, while, if suspended until the COM
pletion of the railroad to the Ohio, it might
continue as burthen upon the treasury of
the State for an indefinite period.
True economy would induce the Legisla-
ture to give such aid to the Company as would
enable it, in the shortest possible time, to ex-
tend its Improvement to point at which it
might receive its legitimate share of the vast
trade of the West. The transportation of one
hundred thousand tons of produce over the
line, from Buchanan to Covington, would af-
ford an amount in tolls more than sufficient to
relieve the Company from its embarrass-
ments, and secure the exemption of the Com.
monwealth in future from all liability on &C
count of its debts. No one can doubt that a
<~oo oh tIrooA xvoulH no for I'D 70 -
full capacity to accommodate the trade and
travel between its termini, and that its con-
nection with the Canal at Covington would
be a benefit to both improvements and of in
calculable advantage to the commercial and
agricultural interests of the State ..H
tits gratifying to know that the Canal has
been steadily gaining friends in the Legisla-
ture and with the people of Virginia. The
example of the Empire State in voting ten
millions of dollars for the enlargement of the
Erie Canal, should stimulate our people to
push on their Canal to the farthest practical
BILE point. Several of the ablest and most in
fueRtial members of the Legislature who
have heretofore been uniformly opposed to
the system of internal improvements, have
recently expressed their conviction that the
Canal was the most important of the great
channels of trade in the State, and have de-
clared their intention to become its strenu.
Gus advocates
We doubt not that at the next session of
the Legislature, the application from the
Company, for an additional appropriation,
will be fortified by evidence of more extend
ed works, of increasing revenues and en-
larged usefulness
The ACCIDENT ON THE BLUE RIDGE.
Inc papers generally, yesterday, made a
reference to this accident which seemed very
just The trains passing the mountain were
not the regular passenger trains. The de.
LACKING Of the car from the engine was to see
were not practicable in an emergency
ior the car to descend alone. The experiment
was most successful. The car was e.s;lv
stopped still at several points, and :, w.s
these stoppages that caused the engine 70 90,
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