Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1865-04-14
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HoW TO REBUILD TEE BURNT DISTRICT

H0W TO REBUILD TIE BURNT DiS- hlNI
OF THE CITY OF RICHMOND.
Now hat :t5 vs- is shout 70 ED, snd the bless.
iDgs Of peace once more enjoyed by US, the enquiry
Is frequently made IS 10 the best mcdo to rebuild
ina. portion Of our beautiful city which has re-
Gently baen destroyed ny ire. The neavy loss
wLca :-s owners q tie tIL; Gist.l,t Lt,e sas-
talred In common with almost every ether ciiiz
Of R'cLmond), over and above The actual less GUS
tanned by the destruction Of their real estate will
Is feared pat Il on: Of their power, fer years to
cone, TO rebuild that district, unless they can
bclIov money 10 dc so. As nearly al Of our Wiz
crs capitalists lave Invested largely in Conf derate
AID ether similar securities, and az Of our bank
.rg inst.tu sors have invested IN Ike marney, and
have 70 addition, teen destroyed BY f:e. It is lot
believed tho: the capital can &c secuted az home 70
rebuild O.. city, ana that efforts NUS: be re-
sorted 70 70 procs!e money elsewhere Whilst,
rom Zoe wealth and high credit Ct some Of the cut-
tere,e &; Is rot dc1tted that they Can really pro-
cure IL Necessary fuLds to rebuild vet there are
; age numbers cf others who would Rot bs 60 for
taLa:s. Now, It tccurs t. the writer, ;hss plan
may &c adopted by which the money can be pro-
tved without entailing loss on the lender and yet
be Of essential benefit to the borrower. 1t Is this:
Let he Lsgis ature OF Virginia, which Is Soon to
assemble 50 snend the charter OF the city Of Rich
moud at 20 confer upon the Council the power to
uoY.oV from time to time, the credit OF the city,
Gon foreign capitalists, or from the wealthy gentle
ntr Of New York, a sum not exceeding s. 900 600,
=. -5te a Interest not exceeding Elk per cent.
pc. a1nun, PAYABLE half yearly and &c. apart
A. Il NV L. IL =
he purL. district: Let such q the owners
Of real estate within said district az shall
6eslre 10 rebuild fle an application with the
Cc-Hcl, stating their purpose 20 rebuild, and the
gen which they propose to expend. If the Council
shall concur in the application, let It Re accepted
WITH .hs following provlso; That cne-fourth Of tie
amount proposed 20 he expended ehaN be paid ever
20 the owner when that amount Of work has be.n
done: smother occ-'ou-:h when the progress Of TIE
work shall Justify il another one-fou-th when the
work has progressed still further and the remain
ing one fourth when IL buildings have been com
ple:e6-the Council to be allowed interest on al sd-
ysross made and when the final amount Is advanced
the buildings shall he insured by the owner, Len
s1 be created on SAID real estate anG insurance nc
Ley 70. the amount SC advanced by the Council to
be repaid at such time as may be agreed or say at
two .hree, ioDr and FIVE years, bearing Interest,
payable half.ye3-ly with proviso that # the IL
te:es. and principal shall nc: be purctua,ly paid
sale nay DC made By order OF the C)unol. Wren
tto sans 60 advanced shall be repaid, they shall be
set apar: ss sinking fund 70 nee. tas deb: SO Dor
vowed OF the city when it shall fall due i vii
.bus 10 seen hat nc loss will result % the Council
All coz o.o security gwen as Well to i 81 tc the
capitalists who may lend the money; as besides sho
personal yesp5ILb.i.ty OF the borrower the Council
VI acquire len rs well o. tno freehold IS OF the
suil5,aso AID l2suTanos policy; ard a. the b1rut
district embraces the mos; valuable rsr of the d:y
there can be 10 doubt as 70 the security.
These cr-d5 thoughts have teen suggested vi b
the view Ct calling attention to the subject and with
Ire hope ina: some ono more capable 20 do =s.ice
% 1t VII speak Gu. bis viaws. If funds car be Sc.
cured In the 23e suggested the squares Of he city
5sr be tcit up II short tine, With uniformity and
tsse and thus add greatly to tie architectural BEAU
" q The city.
A N4--vE AND WZIL-wIsHER OF RICHMOND