Evening star. [volume] (Washington, D.C.) 1854-1972, 1857-09-24
Observation-Disclosures GOSSIP.
The PRESIDENT OF THE UNITED STATES IS
now absent from Wash; nston on a flying visit to
Lancaster, we hear.

ture at its approaching session Will refuse 10
appropriate for the completion OF the partly
constructed railroads on which she has already
expended an aggregate Of, we fancy, near
twenty millions of dollars. If it is to be so,
better would it have been for her finances if she
had never expended dollar in that way. We,
however, cannot realize that the Examiner can
be correct in its impression, because it involves
policy far more suicidal than any that can
possibly be adopted by SO enlightened body as
the Virginia Legislature. To stop the construc-
ton of the progressing roads of the State, will
be to PROSTATE the energies and repress the en-
terprise of all interests and classes within her
boundaries, depreciating the aggregate value Of
Virginia property one hundred times as much
as the cost of the completion Of the works in
question can possibly be to her treasury.
1t is just in such times Of commercial revul-
sions and decreasing prices of produce and prop
erty that it behooves her State authorities to
strain every nerve to ward off as much Of the
tendency of the times, from Virginia, as can
be so warded off 1t is their duty to see that
her citizens have, US soon rs possible, every
feasible means at hand for prospecting, despite
the tendency ofthe times explained above.
The fact that through Encouragement ex-
travagance, and, indeed, a general want of
integrity in connection with the affairs of
Northern railroads, the value Of the stocks of all
of them have run down recently to very low
figures, is no. reasonIwhy, properly conducted,
most of them would not prove profitable invest
ments. They charge VIGOROUSLY too little for
freight and travel, which the Virginia railroad
companies do not do. They also pay too much
in the way of salaries and squander money on
unnecessary employees, neither of which things
is done by Virginia railroad companies. The
system Of railroad management at the North is
as different as can be from that in Virginia,
and the xesult of investments in Northern roads,
as managed, is by no means a fair criterion
from which to draw conclusions as to the proba-
bic result of investments in Virginia railroads.
Even if the Examiners conclusion that State
subscriptions to railroads are invariably gifts
rather than loans to be repaid in time, las is
not the case in Nirginia,) the State would be
greatly the gamer, by steadily completing the
system of public works on which she has al
ready expended twenty millions of dollars
Who does not remember the throes of debt,
temporary reputation, bankruptcy, &C., into
which Pennsylvania was plunged through the
connection Of her finances with an extensive
system of internal improvement? Yet no one
can fail to realize that she did well to 20
through all, financially, that befel her on that
account; for thereby has every acre of her soil
advanced intellectually in value. 1t will not be
striking far above the mark to say that for
every dollar expended by Pennsylvania in in =.
ternal Improvements she is-her people are
at this moment one hundred dollars richer than
she would otherwise have been. Unlike Penn
sylvania, the funds of Virginia raised for inter-
nal improvements have not been plundered-
every dollar having been honestly discussed for
the purpose designed-nor is there the least
reason to fear that any Of her appropriations
for nternarimprovements yet to be made, will
be misapplied. She has escaped, and bids fair
to escape the rocks on which Pennsylvania 8
internal improvement system struck, and stuck
for some time. To hesitate now, when near the
end Of her expenditures for internal improve
ments, would be about as wise as for a man 10
burn down his ten thousand dollar house. fin
ished all to hanging the doors and windows and
painting, to get rid Of the expense of thus com
plotting the ediGce.
Surely the approaching Virginia Legislature
are not quite so daft as such a course would
prove them to be
TIE House OF PAIRo & NoURsE-We ac-
knowledge the receipt of the following note
from Messrs. Pairo Nourse
WASHINGTON, Sept. %, 1857
w. ID. WALLACE, ESQ dear StT The edito-
rial in the Star of today, we think does MS in
justice; and feeling confident that Won have no
desire to ihJure u.s. we respectfully invite you TO
call at Office at ea Hest convenience and
afford MS opportunity of exhibiting to YOU a
statement of our affairs, with such explanations
as, we think, will give you more just apprecia-
ton OF our true position.
Very truly and respectfully yours,
PAIRO i NoURsE.
As the object Of the editorial to which Messrs
Z. q n. refer, was not to obtain information
concerning their affairs for our own satisfaction,
we do not perceive any good end to be accom-
plished by the devotion of few minutes or
hours of our time to such an investigation as
they propose.
Our purpose was to enforce the necessity for
the amplest security that in their liquidation
every dollar of their property shall be devoted
to the end of paying off their liabilities at par
with as little delay as possible. If the public
can be satisfied that their affairs are in such a
train of settlement, the sacrifices of their de-
positors will be much lighter than under the
impressions which now prevail in the public
mind. Their decd Of assignment was not on
record yesterday morning, and the fact that il
is not yet recorded serves to prolong the public
uneasiness in the matter. No individual in
spection of their books and statements can DOS.
sibly serve to satisfy their injured depositors
They should promptly call a meeting Of their
depositors to the end that the latter may agree
on resident trustee to be associated with the
nonresident gentleman selected by themselves
to liquidate their affairs. Nothing short O,
such step will restore public confidence in
their case. As the matter stands the depositors
regard their own affairs money Us being still
wholly out Of their control, direct or indirect
and are by no means satisfied with that state OF
things. They believe that simple justice tc
them requires that they shall have ut least as
much influence in directing the manner of the