Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1860-02-14

/ Qence, expect TIC paSS3sSe vi lnlS Dil! The Sc
curity ample the ability to pay eertain-thc
uork rkmdipsaSaJly necessary.
! But some may say, while all these postulates
are admittcd-sti! we will not vote for the
bill. because the company can proceed to COM
pletc the work. with their own means, without
| State aid.
True it il, they can do su, hut at what sacr.
| licc and loss to uic State and 10 the individual
stockholders, you will see upon moments cX-
! animation.
If the company are left to their own resources
they will be compelled to raise the amount ne
ccSsary by sale OF their bnnds-thoSc bonds
from causes referred to by those who have pre-
cedcd me in this debate, will not sell for more
than 81 cents in the dollar, and thus to realize
$500, 600 the company would be compelled 10
incur debt Of $50. 600, thus s,lhjectng them
selves to loss Of $l50,000. Now, remember,
that the State OWNS thrcc.tifrhS Of the capital
stock Of this company; reject this bill, then,
and you arc inilictinga loss Of $40, 600 upon
the State and Il loss Of 500, 900 upon individual
ockholders-virtually taking $4,000 from
the treasury and throwing it into the fire, and
$50. 900 from the pockets Of individuals. Think
of that, We vlgilant sentiDclS orc" The treasury,
and tell nc upon what principle Of prudent
economy such step could be defended? Re
collect too, that more than $io0,UoO OF the
earnings Of the road have already been cXpend'
cd in extending its line; earnings that would
have been paid over to the State and individual
stockholders, in the shape Of dividends, had as
liberal policy been extended to this company
as to others.
would now ask the support Of the member
from Marion (Col. UAYMoNDD upon his own
ground lie has already stated, in eloquent
terms, his desire to sec our beloved Common.
wealth on the highway to prosperity and for
tune by iudiciouS system OF internal improve.
mcnts, but while the bill for an appropriation
to the Corington and Ohio Railroad was under
discussion, he objected to that bill because 1t
was altogether on State account-he preferred
the Joint stock principle-he wanted individual
capital. private interest and energy, embarked
along with that Of the Stale, to ensure economy
and practical Judgment in the direction oil its
aiillrS.
take pleasure in informing my friend that
this company have all these elements to recoIn-
mend this bill 10 his favor; two if,hs of the
capital embarked in this enterprlze have been
contributed by individualS-all the care and
economy that private individuals employ il the
discreet management Of their own interests,
have been brought to bear upon the atflirs OF
this company aud the SUCCESS which has CROWN
ed the enterprise, midst difficulties and embar.
rassmentS, the most formidable. might seem to
warrant the preference expressed by him in Ia
vor of board constituted on the joint stock
plaa-upon his own views then ! claim the
support of the able member from Marion.
Mr. HAvMoHD-Will lhe gentleman allow me
to say one word?
Mr.. M.-CerIaiuly.
Mr. Ill .have been 4 kind friend to the
/ Ccntral-perhaps voted ior t--but I am op'
pos d 10 a railroad running along side The James
River and kauawha Canal-lhat is great
State work what will you do for that?
Mr.. NJ" Sufficient unto the day is the evil
thereof" We, the advocates Of the Central.
entertain no hostility to that line; there is no
rivalry between us-when We have that bill
before lis, he will lind me disposed to co-ope'
rate with him in so lcgslating On that subject,
as to cause the james River line to realize the
highest hopes Of lis distinguished proJccto''
and to cuucr the benefits anticipated by them
upon the State.
The member from Marion says he has been
one Of the best friends Of the Central; he vii
pardon me for reminding him that he shoulc
who .perscvcre unto the end" is the reward
pro,niscd. The Central now wants his aid tc
complete the line. and he should.not desert It,
But let ne rcturn from this DEPRESSION. Inc
officers and managers Of the Central invite thT
stric.cst scrutiny into its entire management
into all its details they challenge the closest
investigation. Look ut the ratio OF ITS expenses
70 its receipts, the condition Of the road and
stock compare them with other roads, and
tl:cy lcar not the judgment which may be pro
nounced; and | congratulate The travelling
public from my heart, upon the perfect freedom
from danger and accident OF this road. Tor
have it from untluubted authority, that for two
years past, while upwards Of go, 900 passcn
.crs have been transported over this road, trav
cllirs an aggregate distance Of more than thlr
teen millions OF niles not one has sustained
any harm or injury Of any kind; fact, ven
turc to say, without parallel in the history
anv Railroad throughout the world
And now, Mr. Speaker,Edo we ask any unu
s,1al aid or favor at the hands of the LeSsla
turc? DO we not rather ask for q less measure
Of fusterin: aid than las been granted TO cac!
and all the other railroads of the State:
Has not the Norfolk and Petersburg received
n loan from the State Of. of.......... wv
The Richmond and Danville ........ eoo'oul
The South.Sldc. ooo'oo,
The Virginia and Tennessee. ....: ,ooo:oo'
Besides aid in the form Of preferred STOCK II
various amounts?
Yes Mr. Speaker. we along the line Of th'
Central have freely and cherrfully voted yo'
these aids. When you were struggling unde
difficulties, almost Observation-Disclosures q
that high injunction, bear ye one anothers
burdens'-we have generously come to you
aid, and relieved YOU from the load you wer
unable to bear We have done so, because "
were confident that by this timely asSlstanc
given in the dark hour Of your distress, yo'
wonid overcome all obstacles in yonr progress
and confer those substantial benefits upon ou
State originally promised And coneratulat
YOU and our beloved Commonwealth that ou
helm was not in rain-that our anticipation
have provcd we'll founded, and that the rcsul
has yindicatcd the wisdom and sound policy
, our course. :,
And now when VIC call upon you in Slm'Ia
circumstances, ITO do unto US As we have uon
unto vou," shall we be told, "tls true, yo'
have come to our side in the crisis Of our late
and have impaired to US life and health an
prosperity; but for all that we will Told ou
arms in indifference and turn deaf ear to you
reasonable and Just claimsy' For one wi
not credit it. cannot believe that high mind
ed Virsinans can act upon any such selfish an
partial system of ethics and morals :.
With these claims upon the justice and faTo
of YOU, the guardians of the interests Of WI
rinia. leave the fate Of this bill in your hands
confident that you will so dispose OF 1t as oes
TO promote the fortunes and prosperity oi on
glorious old Commonwealth
The bill was then put on its Passagc-hye
90, noes l9-majority for it a.
spccch Of Mr.. Gilncr OF PlttsylFania.
In the House of Delegates Of Virginia, fehrn
ary &, 1860
Tho bill making subscription on the par
of the State of $lU0,0u0 for the construction
Of The Pittsylyania Rail Road being nit pas
sage
W. G1,yrv Of piusylvunia, said-hc wa