Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1856-03-07
special Message of the Governor.
ExEoUTIyE. .DEPAgTMKRF,l
". Feh-11th. Iah6-

GENTLEMEN :-In performance of con-
stitutional duty, / Communicate to you
the accompanying letter from the Board
OF Public Works, enclosing report ol
Charles B. Fisk, Chief Engineer of the
Covington and Ohio Railroad /; although
informed by the Secretary of the Board
that he has been directed to communicate
the same to the two houses of the Gene
raj Assembly for such action as they may
deem necessary and proper.
1 do so, because the Executive aud
Legislative are both thus summoned to
determine whether great State work, OF
primary importance, shall be wholly sus-
pended, at the expense of time and mo-
ney enumerated by this report. The En-
gin, er h,s performed his duty by giving
this timely warning. He tell us that the
last appropriation is SO nearly expended
that it is now his " duty to stop the only
remaining work now in progress. and to
direct the contractors for the Allegheny
tunnel to suspend operations forthwith" I"
Ie states that the stoppage of this work
will occasion, directly and Indirectly,
heavy losses to the company. That, if
the force now at the Tunnel be dischar-
ged, it cannot be brought back without
much loss both of time and money that
the time lost will probably exceed six
months: that the steam engines and all
the machinery at the tunnel will be ex-
posed and subject to injury during the
suspension of the work 4; that the whole
excavated space of the tunnel will become
filled with water before the work can be
resumed that the whole outfit and pre-
parations of the contractors will suffer
much dilapida;ion and injury; and that
the indirect will exceed the direct losses !;
that the revised estimates had been based
upon the calculation of sufficient means to
keep the work at the tunnel in progress,
and for the employment of moderate
force at some few of the heaviest points,
so as TO place the work in condition for
the application of ample means when
they could be provided !; that these esti-
mates contemplated partial suspensions
only Of the work that the sacrifices and
losses will be much greater from total
stoppage that the confidence Of contrac-
tors will be destroyed; that the determi-
nation of the State to carry on the work
steadily will be doubted: that expectations
and hopes founded on the present session
Of the Legislature, after the failure Of a
previous session to appropriate, will be
disappointed that, If no appropriation be
now made, hope must be deferred for
two years TO come that like suspensions
would be apprehended and, in conside-
ration Of this. at future lettings, high pri.
ces will be the consequence. to the extent
of 25 or 80 per cent. or more, even on
the actual cost of the work and as this
loss is now likely to be incurred. the
Chief Engineer very properly acquts
himself Of the responsibility.
Such is this report. 1t bring US to le>
liberate upon very serious questions, and
l respectfully urge that it demands very
prompt and decided action. Beyond the
sacrifices and losses, direct and Indirect,
Of the company and the State, enumera-
ted by the Chief Engineer, the stoppage,
of this great work during. the sitting of
Legislature, will. L fear, impair public
credit. II will naturally start the enquiry
is Virginia credit so low that she can.
not carry on her main works, upon which
she must ultimately depend for progress
in wealth. population and power? Let
us not be told that the arrest Of primary
public works, by mere Withholding of ex-
pendiLute. is means of increasing our
credit in market. Stoppage in any un-
dertaking, submission TO the cost and dam
age of delay in any work. argues want
and feebleness OF ways and means, rath>
er than prudence in expenditure. Loss
of credit is the most wanton and wasteful
Of all extravaganza, and not only is the
cost OF public works magaihed by suspen
sion and stoppage beyond all reasonable
bounds, but financial reputation is there.
by impaired, and that item of loss is. in
dollars and cents, as. we'll as in moral
worth, incaiculably larger than any other.
Are we told that Virginia bonds will
not sell, that they are below par in. the
market, and that it is useless to issue
them
I mean not to deal in any paradox
when deny the fact. A few years ago they
commanding large premium were in
the moneymarket. Ifthey would bring / 50
then, they are still worth intrinsicalIy as
much, if they will bring within 3 or 4 per
cent. less than what is called par. now
Then, the money market was flush aud
the world was at peace. Now, the mines
and mints and capitalists cannot supply
fast enough the demand of armed kings
for the sineWs Of wars mastering more
than four millions of men in Europe
The Banks Of the Allies, England and
France, are struggling for the bullion and
coin of the world and for the balance of
exchange. which has SO long been in fa-
vor of London. Crowned heads are the
customers ofthe Rothschilds and Earrings,
and the paper of the European Bankers
themselves is not. nomiually, worth as
much In the money market as it was Eve
years ago. by a large per cent, and if ii
were worth more than it was then it still
finds the best market for isself at home.