The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1858-03-12

tho safety Of ell. The surest way fhs ,.t M oser
Of the eosny to develop
means Of expectation. 70 avail herself oS rn,,r
aud of trans-Atlant.c steamers win be the sure way
tn which she may fulfill her double mission ,rIss
Legislature, assembled, cannot better snn nia
the few days which main 10 it Of It's n sson tbs
in realizing the hopes and wishes of the Son, ber,
States To reaxsurc these By promnt snd aaa,l
getbc step let il the immediats counnlsfor =,
the railroads of Virginia and the establishment Of
trans Atlantic stem lines, by sppropriatian i,
aid o. that private ehterprise which Is but aw aitin
her concurrence before eInbarking in the common
South. - 'Ao
Already happy proguostics inspire the bana no.
the wise measures inaugurated in the Bristoi fan
vention will not be without serious results The ac
complisbed Commissioner sent TO France has met
with generous sympathies. He has brought back
with him the promise Of an energetic Cooperation
In that country. Thus have aspiratic cDs NOT do
eeived 1t but refnaius for the Leejsa4ure ii am
able Us to realize them completely.
some timid mon shrink from these grand mea
sures Of public safety, They oppose 10 them lie
commercial crisis. the empty treasury, the burdens
of xation They cannot that the longer We ars
in putting these measures in execution, the uora
the public hardships will hsye ipcreased the mere
the resou Il Of ile STATE, existing will hays
diminished; and that, the sources Of fortune posi-
hiy drying away in the meantime. it may end in
leading the yefy monopolies which il is
Bile to destroy confirm thrir growth and consoii.
date henceiorth incontestible supremacy. But are
their objections themselves well foundedy brief
consideration Of the powerful resources of Virgins
will suffice to chow that they are wholly imagi-
nary.
The debts OF the State are not the bequest Of q
luxurious post-the heritage of costly and useless
expenditures upon the part OF q pageant Govern
ment-the fruits of wars without resnlts-but on
The contrary, of important public works which con
stitute large part of the wealth OF the country:
| which are profitable inyestncnt for the nation.
and which in due time will pay the whole expenses
| OF Government.
What lust parallel can be drawn between the mon
strous debts of the European moDarchies aud those
| of the Republican States of North America The
former are the consequences OF rninous wars which
for ages past have upheaved all that was settled in
society; of political revolutions, of changes Of dy-
nasty, of the vain enterprises of ephemerai govern
ments-the latter the results OF social ameH ra
tious and Industrial progress. Every dollar of it
presents so much capital realized a profitable stock
| first class Investment. Public money thus en-
poyed cannot be raid TO have been spent; and that
ing of great statesman (M Thiers,l that "ta~a-
ton is nations test investment ia incontestaby
true in reference to the Governments of America.
| Why, then, leave unfinished those great public
works in Virginia to which she is TO look for wealth
and litel Why not have recourse to national loan
in order to endow the living generation with those
ameioratons OF which Is IN want, and TO free those
which TO come from the hateful tribute which
are still pay ing to the Abolutists Of the Notrh.
Have the European governments IA .ile1 before
these necessities. even though the objects which
the loans were 10 be applied were far from having
that useful character VIII ch forIns the marked lea.
lures in the exp ndtures the States Of the Unon2
france, for instance our glorious country at the
energetic call of her her c Emperor, was but 'hre
days in raising two thousand millions of francs to
maintain Wal of which the political results have
been vast, to be sure, and such as the nation may
Justly be proud of but of whc h alas there remains
| nothing that the eye can see.
| Wherefore, then should not Virginia make like
| appeal TO her generous children, when the question
is wh ther she s t. secure or throw away long f-
lure of glorious prosperity lnstead OF two thou
| sand millions spontaneously given by France aid
for which she has now nothing to show but an epty
account Of glery, will il he more difficult to find in
Virginia only sixty or eighty millions, and that in
order to secure her political and commercial indie
"ndenceg With this sum a II parts of her territory
| may be furnished with their proper share of i'm
provements, all her railroads be finished her canals
I'D fhn lhrtpa of
| rect communication with the grand centres of pro
duction, all the riches Of the country dyeored after
which rade comes of itself clear hepceorh Of the
ruinous commissions hitherto paid TO N0rtherz bro
| kers,
Can the country shrink from like stsp when il is
be itself the lender and will receive directly the
| interest upon the sums which it may advance for
| the occasionf Complaint is made, an with reason
tnat the capitalof the South is in The cities
| OF the North. Why! Because il finds there at a
higher of interest more sdyau ageous Invest
ment. Let like advantage be offered to it at home
and II Will no longer be adventuTed s.were in ha
| zardous operations. Nearly all her neighbors DAY
higher rate OF Interest upon their bonds than does
| the state of Virginia. What danger can pc, sbly be
feared for the public fortune in putting our bonds
upon level with those OF the oter States if the ad-
peop:ei When the people of Virginia will he them
| selves drawing the interest upon the money which
they shall have lent the State, can they then en-
plain that the rate Of interest is too high; and
the Legislature itself have any cruple in anthoriz
ing contract that is 10 depend upon the voluntary
| .ction of their constituents? The Government v iii
but the cashier the depository the saving bank
| Of the people such was the ingenious ~ tim ~
the Emperor Nap leon III. He enahl d the people
| to share in the advantage Of national lean by
| bringing it within the reach Of the most lnoaest
purses. ihs result is, that he has mate the small
proprietors the most numerous creditors Sf the
State. Let the same be done in Virginia Instead
$780, let the face of our State bonds be reduced to
four days the people themselves will have advanced
the sixty or eighty millions of francs necessary t.
tini N our public works. southern capital viii DO
safe and profitable investment: il will augment
| hundred fold the value of our lands; it will open
up miRes; it will develop our agriculture and
will be no longer exposed to the sad hazards Of
nancial crises.
| Far from having impoverished the people. this
course will tend inconte tably TO enrich them vet
further. hat private assocat would undertake
with great dtulty, the State may easily be success,
'ul in doing, Ii great assocaton il offer guar
autees: it cannot fail Capital i'll come to it, sine,
every one must feel complete assurance that in
lending TO it, there can be no danger of having to
wake UP some tne morning to find the cashier gone
leaving TO his creditors instead of their money bart
the bag to hold, and the compliment of joyous an
| In due time the dividends to the State from her
stock in public works, will suffice to pay all the ex-
pensps OF Government, and taxes which now bear so
heavily the uneasy purses OF the people, will be
known no longer.
Besides these sources OF public revenue, which are
certain SO soon he public works finished how
many new modes Of industry will they bring into be-
ing hch in their turn will become the source Of
revenue! In every nei9hbornood travefsed b 5
canal or railroad shall the population aug
ented marts Of all sorts will be every where estab
shed, and the general interest which is. in bret
but the aggregation Of Individual interests, will
fnd in the happy c+ange ample compensation fol-
a the sacrifices of the past
Virginia possesses, within her wide boreers vast
tracts of unoccuped aud wholly unproductiye auds
these form an minense capital which enot nous
mprovidence is suffering 10 60 every day. more ami
more TO waste, WELDING TO the State not cent OF
proit-not title Of benefit. Her absuri la,,dof-
ics system dealing out warrants iuaiscrinlinateiy
anQuestiUnably, to every adveRturer, maltpties
claimant of the same possessions, breeds eudless
| trouble and contusi p, and yexes property with
much dolht aud such uncertainty that foreign CAP
tal and labor ctfoctuaily deferred from settle
ment in Virginia. fbe new states. to which Euro
pesn emigration is giving so decided preference
offer to euigrants ac1mpete security alike person
and Of property. Lettha same he done III Virginia
| and her population will speedily be raised to ten
times its present measure Her proximity to the
sea, her inilder climate her more socisi manners
considerations such as these, not TO mention others
grant in search OF Happiness and liberty
In accounting for the sios growth Of her popula
ton. the attempt is frequently made 10 fasien the
'thc curse of slavery" Yet, in truth, this cops de
ration affects emigration but slightly Where TEN
81 fh the ny f the so h he pro
there he will nothasitate TO fix linn sl AMI nowhere
| more fully thanin Virginia can such advantages a.
ihese be found
Heretofore the means of communic .tion with the
interior, not less than the OF ocean travel
have prevented emigration from conf ng directly %
Virginia: but the day is not tar distant when all
these clements of success will be supplied her in
profusion Let, her when that day comes, bs ready
WDas VIII tnen De aolo To acquire
let her onward course be unhobbled of warrants and
patents and Virginia will not be long in conquer
ing her a1cient suprs macy. or. at least in putting
herself fuliy abreast OF her proudest rivals.
This reform is indispensable the future OF Vir
ginia alike politically and commercially, to her in.
dependence and TO her prosperity.
Every day the State is selling, al public auction.
lands OF which 10 knows neither the extent nor the
boundaries, nor indeed. in most cases, so much as
whether not they have any existence az att She
grants written in the books OF her ofhciais,
but il impossible for her TO put the buyer INTO
possession. Her agents receive his money without
troubling themselves about equiv ut, aud when
the hons st purchaser to whom at least IL 10 Sc
rious business wishes TO what be has bought,
the answer Is that the State warrant. nothing.
This nlonstrous abuse is every day extending its
baleful operation. Every knows that II is the
curse OF the State, and yet no one be found 10
put firth the remedial hand.
lnfi ihs.i al,is hssi, no