The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1858-01-30
Uenort or the Committee ON inter-
-, -. ..~cv m euts.

4
very able report from the COMMITTEES on In
.erna, improvements efthe Senate, prepared by
Hon. A. II. II. STUART, has been printed. The
,ona mi,tee say they are satisfied from an cxami-
nation of the report Of the First Auditor, that un
der the existing rata Of taxation. the revenue OF
the state will be- SUFFICIENT to pay the interest on
the public debt, and all the ordinary expenses Of
the government, and leave an annual surplus Of
over 10000 provided the treasury can be reiiev
ed Of floating debt of about o00 arising out
of the emission Of treasury notes, Q deficiency In
the Sinking Fund, and certain acceptances Of the
Board Of Public works, in favor of contractors for
work already done. They also favor the adoption
of some measure by which the floating debt OF the
State, instead Of being discharged in two years
could be distributed through series Of years so as
to apply one half of the surplus revenue annually
to Its extinction, leaving the other half nnincum-
bered and applicable to the payment OF interest
on such loans az may be effected for works OF In
ternal Ymproyement They are also satisfied from
A conference with the officers Of the banks in
this city that an arrangement can be made
through those institutions by which the floating
debt, or large por,ion of it, can be distributed
through q period of ave years, oneffth being paid
annually, whereby one half of the surplus revenue,
or In round numbers $500, 900, annually, will be
left applicable TO the purposes of internal improve
ment.
The interest held by the Common~ ealth, in the
work, named Is as follows In the Coyington AID
Ohio Railroad, 81 SOC, 600 Virginia Central Rail
road. s2.0I0o0O; Orange and Alexandria Railroad
1850 500. Norfolk and Petersburg Railroad, $780,
ooe Mauassa Gap Railroad 81 $50 900; Alexandria,
Loudon and Hampshire Railroad, s72OoOo, and
Richmond ard York River Railroad, 100000
Total, 5000, 500. The report then proceeds to
give statement of the progress aud condition OF
these roads and says that all Of them will require
further assistance from the ate, an assistance
which in some cases 1t will be anwise to grant, 80
little progress having been made on the roads re-
curing It. Besides these interests In unfnish-
ed roads the State also owns larger amounts OF
stock in other roads some of which have been re-
Gently finished. 1t ~ stakeholder in the South
Side road to the amount of SS03 $780, and creditor
to the amount of near million of dollars now
This road has been completed within few years
past, and sufficient time has not yet elapsed for a
fair experiment of its value. The amount invest
ed in the stock of the Lynchburg and Tennessee
road Is 81 100000.
The committee suggest that the following appro-
priations DO made this session: To the Coving'
| ton & Ohio Railroad 100000; Orange Alezan-
dria Railroad $500 900; Richmond York River
Railroad s2Oo,000 Norfolk Petersburg Railroad
S250OO: Alexandria Loudoun & Hampshire Rail-
road $500 600; Virginia Central Railroad $200O
extension of the Richmond Danville Railroad
100000 The committee think it judicious to re-
spond favorably to appeals from works in progress
as far as practicable, but think 'that in the pre-
sent condition of the finances of the State it would
not be expedient, at this time, to undertake any
new work of improvement, but that all our ener-
gies should be directed to the prosecution and
completion Of works already commenced, and on
which large expenditures have already been made,
and such auxiliary works as are of indispensable
| Importance" Speaking of the Richmond. Frede-
ricksburg Il Potomac Railroad, the report says:
"The Richmond and fredericksburg road, which
has been in operation for about twenty-five years,
and which is the only railroad in the Common
wealth which, In the just sense of the term, eau
be regarded finished because all its connections
have been supplied, furnishes striking evidence
of the yalue and profit Of well conducted road.
From statement obtained from the officers OF
that company, and which is appended to this re-
port. II will be that 1t has, within the period
of twenty five years. reimbursed to the State the
whole amount Of its subscription, $4,000, in
cash, bonds of the company, and permanent addi-
tions TO the value of the road, and the Common
wealth still retains its interest IN the road when
there is good reason to beiev" will continue u
yield large dividends to the treasury"