The day book. [volume] (Norfolk, Va.) 1857-1867, 1866-10-06

We have considered on many occasions and
10 elaborate articles the natural resources of
Virginia.
We have shown the vast wealth which
slumbers in her mines, in her fields, in her
forests. and her prodigious water power which
upbraids us in its ceaseless monotone for our
lack of enterprise. We have made it clear
that the State possesses natural resources of
fabulous value, and to complete the picture
we have only to include her oyster beds.
The extent of these is put up by the Audi
tor at $500 acres, and the annual value
of the quantity taken is, according to the
same authority, at least $40, 100000. Here
is vast source of wealth to be added to those
already considered, and in our condition it
becomes us to consider how far these g1eat
submarine mines may be worked to the best
advantage. 1t will be conceded on all hands
that these vast fields should be made to yield
d revenue to the State; but the legislation of
last winter was obnoxious to many objections,
(which we shall state at the proper time) which
we trust to see removed by the Assembly at
its approaching session. One of the measures
which we shall especially urge and illustrate
with abundant facts and sound reasons is the
modification Of the present Oyster Law. so
that it will protect the tongsmen, and at the
same time build up the packing business in
these two towns. We are not SO selfish, how
ever, as to desire our legislation to be shaped
for the exclusive advantage of Norfolk and
Portsmouth. On the contrary, we expect to
see the profitable business, in the establish
ment Of which We feel so deep an interest,
successfully established at Hampton, Yorktown
Gloucester Point and on the Eastern Shore
OF Virginia. A proper adjustment of the tax
will result in building up domestic market
for our oyster crop, and capital will not be
long in embarking in the trade at this point
and the points indicated, when the necessary
legislation has established certain important
conditions, which will render its investment
here matter little short of certainty. We
believe that the necessary legislation can be
obtained, and in view of this fact we renew
a favorite suggestion of ours. Let us estab-
lish here a joint stock company for the prose-
oution of this trade. A combination of capt.
tai and energy, which should include the
tongsmen, would secure the most magnif-
cent results. Such company would at once
harmonize capital and labor and make the
enterprise advantageous 70 both The capt.
talist paying in money as stock, and the
tongsman paying in oysters, receiving GER
tain per cent. cash on each bushel delivered,
and the balance to be placed to his credit; at
the end of the season balance to be struck
and a dividend to be declared The oreani-
cation of such company, though apparently
complex, is practically simple, and We COM
mend the plan to our readers as one worthy
their consideration. Populous towns, as we
shall hereafter show, have been built up by
Virginia oysters, and it behooves us to seize
upon every possible chance offered us to re-
build this ''ancient Borough" which un loubt-
eddy stands in great need of commercial re-
pairs BY using the advantages We have at
our very doors we may do wonders in this
direction.