Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1866-12-11
v1ReTNIA I,Ee1sr.AruRR.

privileges.
VIRGINIA LEGISLATURES.
This body convened in Richmond on Mon
day last, but for want of a quorum in the Sem
ate was not organized until Tuesday, when
the message of Gov. Pierpont was sent in and
read. A notice of this message will be found
in another part of this paper.
In the Senate on Thursday, Mr.. McRae
offered the following preamble and resolu-
ton, which were agreed to -.
"Whereas, the existing obligations of the
State have been impaired in market price
greatly below. their intrinsic value, much to,
the injury not only of private persons, inclu-
ding widows, orphans; and others entitled to
the special protection Of the Government and
Comm ,Dwealthitself and whereas, this con-
dition of affairs results in part only from the
present inability of the State, in consequence
of its present impoverished. condition instant.
ly to discharge all its liabilities as they ma
ture, but also In great measure from unau-
thorized imputations affecting the character
and integrity of the State government, un-
| provoked by any previous act of dishonor or
| shame; therefore,
ResolDed, That the Committee on Finance
be instructed to inquire whether any immedi-
ate action is proper or necessary to repel the
| imputations referred to. and remove the con>
sequences resulting therefrom.
gaer PETITIONS.
Mr. Meade presented petition on behalf
of Samuel O. Young, who was wounded in
the John Brown war, asking that the pension
for life awarded to him by the Legislature of
| 1S59260 be paid him, the first instaiment
only having been received.
| In the House the following communication
was received from the Governor, which was
ordered to be printed
EXECUTIVE CHAMBER, Dec. 6, 1866
To The Senate and House of Delegates Of
| Virginia:
| Gentlemen,-In looking over my annual
message to the General Assembly l find that
l omitted to mention the Loudonn and Hump
shire railroad when referring to the internal
improvements of the State.
At the conclusion of the late war, that road
was almost a complete wreck. with but little
rolling stock aud no credit There were some
parties interested in having parts OF it re-
paired, who, in connection with its former
President, proposed to tske the road and put
| 1t in repair, 10, out of the earnings at the
| road. These gentlemen bad means and credit,
and 1t Was believed that they could do more
to effect the object proposed than could be
done by the company if re organized they
stipulated that they should incur no debt
binding the road beyond its earnings. They
have with great promptness put the road in
running order nearly to Leesburg. l have
heard no complaint from the private stock
holders, and believe they considered the
stock almost valueless. Several inquiries
have been addressed to me by parties interest
ed as to the terms upon which the State
would part with its interest IN the road on the
I condition of its completion to the coal mines,
| the point at which it ty its charter de-
signed to terminate. of course could give
no definite answer to these inquiries.
In its present condition the parties now
working the road will be able to complete it
to Leesburg but not beyond that point. 1t
will never yield revenue to the State, nor
will itassist in building up the city of Alex
andria if carried no further than Leesburg.
If this road could be completed to the coal
mines it would open up an immense trade,
not only in coal, but in theagriculturaIproduc
of the fertile country through which it is de-
signed to pass. 1t would afford cheap fuel
for smelling the vast deposits of iron ore to be
found in Loudoun, which must be undevelop-
| ed without it. These ores, with the coal,
| would pass over the road to Alexandria, where
large iron manufactures would be erected
| The low grade of the road would enable it to
transport coal to Alexandria more cheaply
than by any other route, for transhipment to
the markets on the Atlantic. The increase
of the value Of property thus produced would,
it is believed, render to the State much lar
ger revenue than its present investment in
the road.
would advise, therefore, that an act be
passed authorizing the sale of the State s in
terest in the road parties on the same con-.
ditions upon which majority of the private
stock holders will dispose of their stock, with
a stipulation that the road shall be construct
ed and equipped within a reasonable time to
be fixed by the act; and that on the failure
of the purchasers to fulfil the contract, the
road shall revert to its original owners. 1
also omitted to call your attention to the sub
ject of providing by law for the repositories
of the public money. 1 think this subject
needs legislation. No law on this subject was
passed last winter, and after the Legislature
adjourned i made an order requiring your
banks in this city, in which public money is
deposited, to give bond and security in the
sum of $50, 600 each which was given. This
was, | think, not exactly with law, but it
was the best could do under the crcnmstau-
ces and considered safe but L think the Ex-
ecutive should be relieved of this response
bility.
[Signed.l r. 81. sPIERpoINT.
b.