Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1855-04-23
VOL. 3.--NO. 219
DAILY VIRGINIAN.
Mr.. Mor,is's Acceptance.
RICHMOND, March 81, 1855.

RICHMOND, March 81, 1855.
VIM ii. TERRILL, Esq, Warm Springs:
Dear Sir Your esteemed favor of the 18th
inst. Informing me that had been ''unanimously
nominated by the district convention of the
American party, for Commissioner of the Board
of Public Works." was duly received, but vari-
Gus causes have prevented an earlier reply.
This, in my opinion ought not TO be made a
political office, and acting under this view of the
subject, and in accordance with the wishes of
large number of influential gentlemen from many
counties in the district, ] announced MYSELF a
candidate as early ms January last, and if elected
| pledge myself to discharge its duties with fidel-
lty and zeal; to select such men for office as are
best qualified to discharge their respective du-
ties, for the old rule Of capacity, integrity, and
faithfulness, think too valuable to be disregard
ed; aud to use every exertion in my power to
haye the improvements entrusted to the mapape-
ment Of the Board of Public Works. constructed
in the best and most economical manner and in
the shortest possible time.
That so large and respectable an assemblage
ms the Winchester Convention repre- enting such
numerous constituents, should tender me their
support. is truly flntterng and accept the nom-
inatlnn in the same spirit in which it was made,
and return 10 you my thanks for tho kind feelings
you manifest towards me-, in your communics-
ton.
1t appears to me that il will be the true policy
oi tho next Legislature TO make the necessary np-
preparations To complete our great lines of i'm
provements, for the following reasons:
lst. That the large amount already expended
IN their construction, will be unproductye whilst
they remain in their uniins shed condition but when
ooupletod, tho millions already expended will be-
come productive stock, and relieve our citizens
to grent extent from tho taxation imposed for
their construction.
2d. That our citizens now locked up by noun
tain barriers in large sections of the State when
IIDna # tls,.,, ID,
have accoss with their produce to tho markets of
the world; and tho facilities afforded for travel
ling, will cause much greater intercourse be-
tween persons residing in different sections, pro-
dudcing kindness, amity, and good feeling be-
tween them.
Sd. That the resources of the State win be
more fully developed her population increased,
and tho rise in the value OF land along these lines
will probably equal the cost of their construc-
ton
The Covington and Ohio Railroad, with its con.
noctions, the Central Railroad, and the Canal to
ITS connection with the Covington and Ohio Rail-
road appear TO mo to be works of paramount i'm
portdnce, and their completion at the earliest pos
sble period, of the greatest Importance to the
prosperity of Virgina;for by these improvements
we we have tho best route from tho Valley Of the o.
mo TO the Atlantic ocean, with easiest grades,
shortest distance, and mildest climate; and they
will command the transportation of the greater
portion of the products of Kentucky, and much
OF those of Ohio and Indiana; yet notwithstand-
ing am in favor of completing our improve
ments which have already been commenced, l do
not consider II polite at this time to make ap-
preparations from tho State to new works, for
those at present IN progress will require oil tho
funds which can be raised by the State without
great sacrifices, but when they are finished, my
opinion is, that the revenue received from them
will bo ample to construct all such as may prop
ery be required.
! sincerely hope that the value of Virginia
bonds will, before the meeting Of the Legislature
be above par, for it pppears to me that with prop
or representations the real situation of Virginia
her improvements and resources, that her stock
ought to command at least much as that of
Maryland, whose five per cent, bonds by the last
foreign accounts were worth in London ga,
which with the exchange added is equal to about
lOl; whereas Virginia six per cent, bonds were
quoted at from S6 to 81, which, with the exchange
added would make their selling price about "a,
or about three per cent below par,
This state of things ought not to exist for the
debt of Virginia is comparatively small, and the
honor of her citizens il not surpassed on the hab-
table globe; for by q statement procured from
tho Second Auditor, the whole amount of her
bonds on the Ist October 1854,
was $22,374,I76 81
Productive stocks held by the
State paying an average into
rest OF SIX per cent. SlO,SoO,44S ~
Making her debt on the 1st Of
October last Sl2,Os7 727 55
She also held stock at that time
unproductive, amounting to
1862, 1893 20, of which amt
there was, in Railroad stock,
which will probably be produc.
tive completed 80, l61 ,461 SO
She also owns in productive stocks belonging
to the Literary fund, 81 l,626,275 95 which will
be at least, fair offset to the bonds of oompa-
MES guaranteed by the State.
With respect and esteem, yours truly.
RICHARD G. MORRISS.