Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1858-02-04
Thr EirrinIA IkniII

1t is SAID that less than three millions OF
Jllars will meet the wants OF all the inter
nal improvement companies now applying
for appropriations. We are gratifed to
learn from the best sources, that the expec,
ted appropriations can be confined within
such moderate limits. We are sure that ex-
peudi,ures within these lin is will not only
be justified, but required oy the enlightened
public sentiment of the Stite. The simple
question to be settled by tie Legislature is,
whether the large investment OF the State IN
our public works Is to preserved or destroy
ed. Whether it was right or wrong Orlsi-
nally, TO make that Investment, We cannot
change the fact that it has been made. We
have 10 act upon that fact like rational meu,
and not like petulant children. \ small
additional invest Mebt will render the whole
available-ln abandonment Of the invest
ment will render the wh lie yaiueess. If the
further expenditure OF three, tour, or five
hundred thousand dollars Will give fair re
turn not on " upon the new Investment, but
refund a million already expended, is 1t not
the height OF folly to withhold the appro-
priaton? As an illustration, We will reer
to al existing case. The State has subscriL-
ed nearly one million OF dollars to the
Orange and Alexandria Railroad. The
Company, unaided by the State, in addition
u it's original road to GJrdon,vi!ie, has
made three-fouTths Of the ROAD Il Lynchbufg.
The financial crisis has arrested the prosecu-
ton of the work on the resources of the
Compa0y. A half million more will Com-
plere it. 1t will then be one 0t the most
proftab c roads in the United States. The
Company undertake to pay the annual inter
est IT, the State and one per cent. as sink
ing fund. Upon this loau of half a million
the State ge;s back her seven Ief cent. and
makes one million OF uDprodurtsc Railroad
stock yield Z. 3 and 10 per cent. per annum
to the Treasury. Besides the value Of the
States interest in the stock Of the Virginia
aud Tennessee Railroad will he heavily To-
creased We do not know of any measure
before the present Legislature that will
bring SO much annual resenue into the STATE
Treasury as this proposed loan to the Orange
and Alexandria Railroad Company. The
taxpayers OF the Commonwealth have Il
right to require the Legislature 10 take the
necessary measures t. place this road III a
condition where such large returns are 50
certain to be made.
The suicidal pulley of arresting the work
of the great Central Railroad iue must he
manifest to every Intelligent and rejecting
Nirginisn.
Look at the condition Of the Norfolk and
Petersburg and Manassas Gap Railroads.
ln consequence vi the refusal OF the last
Legislature t. afford aid, these Companies
have been compelled to use their own credit
to keep their works in progress, and are now
exhausted. a small appropriation to each
will finish them as originally projected, and
make their stock productive. Without sucn
assls ance their engagements cannot be met
and these roads may he sold out t. satisfy
creditors; and what will be the result III
such an event? Way, neither more Tor less
than o total loss OF the original subscrl ption
on the part of individuals and the State, and
the purchase Of these works, perhaps for u
song, by Northern capitalists, Who will grasp
the prospective earnings OF these valuable
Railroads. If such policy be recognized, is
1t not I 10 plain that the nine millions OF dol
lars now invested by the State III the several
Railroad lines will lie perpetunted as debt
On the Treasury, instead of being made pro-
fSable by rendering timely and necessary
assistance. There is too much Intelligence
and public spirit in the present Legislature
to suffer such state of things to ensue.-
Let them appropriate the moderate sums
needed to relieve all the works IRON embar-
rassment-especially where there is pros
pect M some immediate return. The outlay
cannot be very large for this purpose; but
whatever it ,e. let a sufficient amount be
given, and the finances Of the State protec-
ted by provi-i0ns If law, stringent and cOer-
cjre enough 10 compel punctuai payment Of IN
ierest as II acc'aeS, and n Wt"cpaS .F"aI'y
This can be done, all must adOlt, without
addition to the existing burden OF taxation,
if properly regulated, and must inevitably
enure to the relief OF toe Treasury OF the
State to greater or less extent.
Yet the only resistance which these mea-
sures will meet will come from those who
profess to be peculiarly watchiul over the
Treasury, and to have peculiar desire t.
relieve the public treasury! Other works
are similarly situated. Prompt reliet will
insure their success and preserve the inter
est Of the Stale \ refusal to make further
expenditures, sinks the whole that has here
tItore been expended. The taxpayers OF
the Commonwealth should keep viSiIant
eve upon these false preten6ers to economy
in the control OF the public funds. The
peo lie ought to take care that the public
revenues are not wasted-they ought TO be
equally careful to see that they are JudlcI-
ously expended, when failure to ezpend
involves the Safes property in ruin and dc
cay.-Rich. Examiner.