Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1855-12-25
HOaED or pI'BLIC WORKS.

The Rrpar: oi the Board Of Public Works, recently
submitted to the Legislature, is document of great
interest. We present condensed Wow OF It's mpet
important statements.
The report gives an interesting history of tho Pc
cuniary difficulties with which ;he Board has Ind to
contend and nt lis connection with tie hnnse ot
Sc!dcn, Withers s. Co. According 10 lis statement
on this subject the house OF Sslden, Wihrrs Co.,
ar. indebted tn the Commonwealth ia The sum vi
SCT s3 %. THIS indebtedness the report snyS, may
be reduced by the sum of Sil0,O0D in the hands OF
Peabody & Co., OF London and the further sam o
l5,0uD in Virginia per cent Coupon B"nt5, winch
were lort in the Arctic. S2ij31O ID IN STOCKS oi 'f'
Chesapeake nnd Ohio Canal Company, were secured
by the State as The property Of SeGrn, Wlthcrs n
Co., aud sir. Wi,hers las made deed at ccr'a!n
properties in Alexandria, Va, and ~. Louis, Mis-.
souri, for the ben>iit Of the S,ate.
Tbs rre1rt thrn proa4es iIgrraia the efforts t"
meet the pressure in the money market, which
i-;cd ai the time II the suspension oi Sedei, With
crS X Co.; the appointment of Barring, Brothers "
Co.. as agents to s"ll Virginia per cent. sterling
bonds; the visit Of DR.. Grahan. the President Of the
Board io negotiate loan III that city, where he wa
enabled ~ raise $500, ,tO which enabled the Board 10
pny nearly all the claims thea outstanding against
them, with Il prospective arrangement reaching rs
far this MONTH in which, however. they have been
disappointed; second Hnd Intellectual visit ot DR..
Graham To New York the appointmenton on the 'th o
June :s ot James r. Southrr, Esq. native of Nir
cin;a and President Of the Bank of the Republic ot
New York, for the negotiation 0t loans by the sale o
six per cent. coupon bonds the appointment OF Mr..
Soulhcr aud Mr.. llOl,uduy, 10 visit Europe and ne
nofio,. Il sai,. of bonds there and the rcvulsiou in
monetary affair iu England and France, which they
found upon their arrival, and which dsc"uraSct the
hope of any satisfactory arrangement fer sale OF
Virginia securities.
T!l gross amount Of the Indebtedness Of the Board
j. made up o! the following items:
Drafts allowed by the Boar,! for wGrk
Stut.. uIs nuInu
uf the States subscription to the cap.
it'll stock of joint stock companies SSl695I y!
Advance on tl0D,OOO OF sterling bonds
Ia be returned by n sale through Bar
ny, Brothers Y Co.. iOOOOO OI
Advance Oh $40 ,DOG ot Il per CT bonds,
obtained by j. Il. Suuthcr, under the
resolution Of the 9Th vi june, lSJ3, 9'OOO0 G0
Total amount unpaid to the Sfh peccln- .
ber. IS,i, sl,iSi9j7 81
Eelcrrin. to the Coving'om and Ohio Rail Road;
the inadequate appropriation o one million ~ dollars
towards that noble enterprise; the failure Of the last
Legislature make any appropriation whatever; the
consequent exhaustion or tc appropriation: the lu!l
and explicit details, and Just und accurate calculations
OF the Chief Eng gnecr the report proceeds with great
force
"rhe question that addresses itsel: 10 the board,
and, rs they humbIy collective, with peculiar earn
| cstncsa and pertnency t" this General Assembly,
is this what disposition IL 10 be made of this
work. cont,.ssedy the work which is To form all
important link in the great central chain Of i'm.
pruvrmcnts leading from the east 10 the west
The Virginia Central Railroad will, i'll comparative
ly short time, have reached lis western terminus.
| The private capital which, under the spur OF the
| appropriation for the Covington and Ohio road
made fresh adventure in behaif Of the Central
| road, will soon behold it, object accomplished III
the construction and operation o first class road
| from Richmond to Covngiou, which will ultimately y
! be further extended castwurhly by similar road Il
York river. VIII the train that starts ut this latter
point and that receive. arcessons OF tonnage and
passengers at every depot on the line of its wcs
tcrn progress, he stopped N Covington or will II
! be permitted 10 go on and OF, crossing ana pene'
| tratlng the Alleghanes, winding through the beau
u and fertile valleys that are washed by our West
ern streams until it reaches the Ohio there to dI-tr
butte its accumulated trcights only Ia reload and re-
turn for the purpose OF equally profitable aud tr,i
zing distribution i'll the East Shall the waters o
the Chesapeake and Ohio b" ;nseparab!y c"nT :ctec
! by the action of the present Legislature ot Virginia
! or shall Virginia, by the agency OF tins same body
be lifted up 10 her true and only true position IN m
confedcracy, the peer, in all respects, OF her sister
vcruisn-! These questions which the present Gen
eral Assembly will be called upOn TO consider and l.
answer, and they suggest solemn respnnsIbIlitl
which that only il cnpable of assuming. The boar'
will not hesitate to believe that the deliberations "
the representatives Ut the people will be guided b,
wisdom, and that all of their nets will he moulded by
patriotic desire n behold the speedy renovation
and the permanent prosperity OF their beloved Com
| inunwealtlI.
The Board submit table exhibiting condense'
view of rail road pro@rts, in the State, together wit!
the nteres; OF the State in the capital stock OF IN
several companies, from which II appears that th'
number OF miles of rail road is 2,2UO,; comple
I.;'2S: in progress, G31 capital stock authorized
$50 6S 800; States interest therein, Sl0,'Jllb ~
| Notwithstanding the financial condition OF th'
State, the Board are not aversc To appropriations u
the present session, aud The resource which they re
commend for assistance il the enactment Of genera
free banking law of the fundamental provisions
of which is requiston that all institutions opera
ting under such law shall base their ISSUES dollar tu
dollar upon Virginia State stock The conclusion /"
the report consists Of elaborate argument i'll tavo
| of this measure.