Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1855-12-31

erv employee on the road is held TO constant ac-
eouptahility for any delay occasioned by hi;
fanlt. Every railroad in our country should have
its own Telegraph Semitic american.
Board ofPublic Works.
The Report of the Board of Public Works re-
Gently submitted TO the Legislature, Isl docu-
ment of great interest. We present a condens-
ed view gifts most important
The report gives an interesting history of the
peouniary dinicnlties with which the Board has
had 10 contend, and of its connection with the
house of Selden, Witbers and Co. According
TO it's statement on this subject, the house ofScl'
den, Withers 81 Co., are indebted to the Com
monwealth, In the sum of 1862, $50 %. This
indebtedness. the report says, may be reduced by
the sum of $llO, 600 in the hands of Peabody d
Co., of London and the further sum of Sli5,OOO
in Virginia 8 per cent. Coupon Bonds which
were lost in the Arctic. S2i5,:DO Is in stocks
of tho Chesapeake and Ohio Canal Company,
(not very valuable. we imagine WAS secured by
the State ms the property Of Selden, Witbers a.
CO., and MI. Withers has made a deed ofoeriain
prop rites in Alexandra, Va. and st. Louis Mis-
souri,. for the benefit Of the State.
The report then proceeds to narrate the ef-
forts to meet the pressure in the money market,
which existed at the time of the suspension of
Selden, Withers, &Co.; tho appointment of
Baring, Brothers, ~ CO., as agents I" sell Nir-
ClnIn , per cent. sItTlibP boHue' NV Flsi vi ~
Graham, the President of the Board, TO nego-
tiate II loan in that city, where he was enabled
to raise $500. 900. which enabled the Board to
pay nearly all the claims then outstanding against
them, with n prospective arrangement reaching
as far as this month, in which, however, they
have been disappointed. n second and Intellectual
visit Of DR.. Graham to New York; the appoint
ment on the 9TH of June last,of James 4. South
or. esq. "A native of Virginia. and President of
H. Dab .ctIn RnpuhIin pf Nn,x Nurk for the
negotiation of loans by the sale of six per cent.
coupon bonds; the appointment of Mr.. Souther
and Mr.. Holiday. to visit Europe and negotiate
n sale of bonds there, and the revulslon III moRe-
tary affairs in Englan and France, which they
found upon their arrival, and which discouraged
tho hope OF any satisfactory arrangement for a
sale of Virginia securities.
The gross amount of the indebtedness OF the
Board is made up of the following items:
Drafts allowed by the Board, for
work done on State Roads, and
on account Of the States sub
scripiion to the capital stock of
Joint stock companies. .-...... 93l6.957 92
Advance on flOO,O00 of sterling
bonds, To be returned t'ya sale -
through Barring Brothers q CO. 4OO,OOO w
Advance on S27O.0OO of q per ct.
bonds. obtained bv j. T.. South
er,under the resolution of the 9Th
o fJune. 270,O00 90
Total amount unpaid to the 9Th of
December, 800. --.-..-...--- Si,4So,9o|,J "
Referring Il the Covington and Ohio Railroad;
the inadequate appropriation OF one mlliono OF
dollars towards that noble enterprise, the in,l-
ure of the last Legislature to make my eppro.
priation whatever; the consequent exhaustion OF
the appropriation; the fall aud explicit details.
and iust and accurate calculations of the Chief
Engineer, the report proceeds with great force
The question that addresses itself to the
Board. aud, AS they humhly conceive with pecu-
liar enrncstness aud pcrtinency to this General
Assembly, is this: what disposition is 10 b" made
IT this work. confessedly the work which Is to
form an important link in the great central cham
of Improvement leading from the east to the
west. The Virginia Central Rail Road will, in
comparatively a short time, have reached ITS
western terminus. The private capital which,
under The spur OF the appropriation for the Gov
ington and Ohio Road, made afresh adventure IN
behalf Of the Central Road, will soon behold its
object accomplished in the construction and cp-
Grafton OF n first class road from Richmond to
Coyington, which will ultimately be further ex-
tended ~castwaidly by n similar road I" York riv-
er. VIII the train that starts at this latter point
an that receives uccrSsions of tonnage and pas
s,ngers at every depot on the line of its western
progress be stopped at Covington! or will 1t be
permitted to 20 on and on, crossing and penetra-
ting the Allrghauies, winding through the beau
iiful and fertile Valleys that are washed by our
western streams, until it reaches the Ohio, there
to distribute its accumulated freights only to re-
laed and return for the purpose of equally prof.
table and ftrtilizing jistribution ~ the cast
Shall the waters Of the CHESAPEAKE and Ohio be
insepurably connected by the action of the pres
ent Legislature of Virginia. and shall Virginia,
by the agency of this same body, be lifted up To
her true and only true position in this conteder-
aey, til" peer, IN all respect, of her sister sov"r
eigls! These are questions which the present
General Assembly will be called upon to consider
sibilities which that only is capable of assuming,
The Board will not hesitate 10 believe that the
deliberations of the representatives of the people
will be guided by wisdom, aud that all ct their
acts will be- moulded by II patriotic dcsiee 10 be-
hold the speedy renovation and the permanent
prosperity of their beloved Commonwealth.
Tho Board submit II table exhibiting IA oonden-
sed view of Rail Road progress in the State. to-
gether with the interest Of the State in the CAPT
tai stock Of the several companies. from which
it appears that the number of miles of Railroad
is 2.2634. completed l.32S: in progress, 637
capital stock authorized, 500, 6SS.300: States
interest therein, SlU75l, PIG %.
Notwithstanding the financial condition IF the
state. the Board nre not averse to appropriations
at the present session; and the resource which
they recommend for assistance is the enactment
of Il general free banking law one of the funda-
mental provisions of which is a rcqui>ition that
all institutions operating under such n law
shall base their issues for dollar upon Virginia
State stock. The conclusion of the report con-
sists of an elaborate argument in favor OF this
measure. Rich Dispatch.