Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1859-11-28

accepted, - ne deem the matter one Of the "
; most vital iuseortance to Virginia fsecepspd.
the public works Of Virginia viii Il once be pfae.
: eAAsa % eqssf fs1lisg with those Of ne rsess
irrospercu S5Hsss, aaa those nAtsral soarces os
yssiik. vhic 70 ssscdaatiy sbsssd s1roashess'
fss Of ne Stass, 81 the cOsrs Of her tnx-r'dden
people, will be repienisAsd.
A we understand Tie natter, the bases Of their
propositions are these: they furnish oil the ready
cnpitai amounting. OF course. to several millions
oi dollars and in return for this expenditure
they ask Of the State q guarantee Of six per cent
lon the capital invested: thus, instead OF furnlsi
ing threc-iiths ..of the monies expended as To
State Is now compslsdlso do, for the erecting AMI
keeping in repair of her public works. she n het
asked TO expead ons D. Alsr only giving her guar
amtse, that after the public works sse eomp'c'el.
their net profits shall amount TO six per ee'ft 90
their cost, and that II they do not the State will
make IN tho deficiency until such time as sha
secs a. TO reimburse tho capital invested by the'e
Igendemen. 49,
lSupposing the compile i'm Of ,h,:: Public worls
lof Virginia to cost SIS. 900. 600 (which is the c,-
mated cost Of the Js.mes River Canal alone-S5'.
1000 600 is the csto,ated cost OF the whole oil tue
Public Works Of vlrginia.) according 70 law, tle
State would have to pay three-ffths, or $9.0poooo
for which, II she borrowed (which she w"a
have 10 do in the present state OF the hnanc'H1
she would have TO pay, at the 'owest rates, an an
nnal interest af S,54D, 900; northern and oas ora
capitalists would mot be willing to take the ut
profits as q portion OF their remuneration; ne';tr
would they be willing 10 let their capital rcn' IA
at six per cent, 10 ono project, as long us Euro
pean capitals N will; for in Europe, where thee
is such au immense accumulation and concen'tE
itioa Of wealth.. with mist Of thoir public w''hs
completed. & per cent is more than An average
pcr ceatage. But surprising that tho fn'dio
Works Of Virginia, when completed, will not ed
ia 4 v,ar.a mt AM
State il obi ged'to make up the other per cert;
this will am cunt to $3.50 900 leaving $500. 600 IN
layor Of the present proposition. and in frvor Ut
Ii eht taxes. But is II at all probable. that Nir-
Inc xhaustit IL mineral wealth--is it Mt all pruba
BILE that, WI len she is made the central thorough
fare Of tho Union, (which she will be- when hcr
Public W orks are completely her works of
internal il aprOsement will not DO ut least q Dcr
,ent ROM lucrative
Aud thon, another views supposing Virginia
las to pay greater proportion, or evon the whle
Il this in tcrcst, would she not be far better off,
With ht,r Public Works completed, than Sha tns
$? By this proposition, she does not appear
'orrov foreign capitalists seek her for the pun
1850 Of investing their surplus dormant capita.
,ccauie her credit abroad Is better than that Of
my OF her State II is the known result Of paho
mpro vel ents, that although they may be Ii
ect Ak upon u State treasury, yet, rs q gene al
hing they indirectly are n source OF profit l." he
tate, moro than their cost. because they cuh.n,co
he value Of the property Throughout tho Sac;
onse q,icnty tho taxes higher but tho people
re rs ablo and willing TO pay their taxes; md
hus the State receives more with one hand, taan
he nays out W it'll the other.