The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-06-12
SlS.ls0,s20 "a

$780, $50 z
Baltimore did not incur this debt when sh
was rich and powerful, but when she wa
comparatively poor-ffteen or twenty year
ago.
She did not undertake the mammoth en- ter
prise OF the extension OF her railroad 10 tn
Ohio river at time when the success % rail
roads as 4 profitable investment was estab
hshed, but, on the contrary, at that tim
when, however valuable they were considers
rs n means of developing the country, tn
most iudcious did not think they would re
turn dividends TO the stockholders.
The ablcst advocates of internal improve
ments, At that time, maintained that railroad
could not successfully transport heavy Ton
mage for long distances.
The route proposed TO be traversed by ne
railroad presented almost insnperape %
stacIes Mountains piled on mountains, hh'
Pelon on Ossa, had 10 be surmounted. lh'
bold and sagacious merchants OF That Guy
were MOI daunted by these difficulties. Lo
the result.
Her railroad has been completed, and rs q
monument of bold and skilful engineering Is
not surpassed by any public work III the
world
The varied productions Of the West, since
the opening Of the road, in constantly inereas-
ing volume, have been pouring into that city
Her population, from 4 little over 100000 mas
increased TO 100000, and her business ana
wealth in greater ratio.
The dividends and interest received from
her internal Improvement investments are
not only paying the interest but rapidly SINK
ing the principal Of her debt. Not only does
the Baltimore and Ohio railroad pay liberal
dividends TO lis stockholders, but 1t has large
surplus profits to eXpend in establishing lines
Of steamers 10 European ports and In extend
ing branches of its road throughout the west
Baltimore is the second commercial city IN
the Union. and her railroad 10 the ONO river
has given her that position.
Richmond has facilities for becoming great
CITY. superior 10 those Of Baltimore Artih-
cial means which have been resorted TO by
Baltimore would give 10 Richmond the same
depth of water and equal facilities for carry
ing on n large coasting and foreign trade.
The distance by railroad from Richmond to
steamboat navigation of the West VIII lie
eighty miles less than from Baltimore, and the
superiority of grades, curvature, and climate,
added 10 the advantage Of distance, would
enable the Chesapeake and Ohio Railroad
Company 10 deliver the products Of the West
at Richmond al one-third less expense than
they can be delivered NJ Baltimore.
The James River and kanawha canal will
be extended to Covington, and will relieve the
railroad OF the heavy tonnage, which can be
thus TRANSPORTED at low but remunerative
rates Let business be once fully established
in Richmond by the delivery in her ware
houses of the immense products Of the West,
and We may expect the products of the South
and Southwest will be attracted here over the
Danville and Virginia and Tennessee railroads.
The uneQualled advantages of Richmond for
becoming great manufacturing city are not
qucs toned by any one.
Here are water power, coal, and iron ore
abundant, and OF superior quality-any one OF
which elements has been sufficient at other
points 10 create large manufacturing cities.
These can be combined and employed in Rich
mond 10 an extent not equalled by any other
ciIy Of America.
The railroad system of Richmond, with the
Chesapeake and Ohio railroad completed, will
command q larger extent OF country than the
railroad system OF any other city in the Union.
The population of Richmond is now estimated
al 60, 900, the assessed value of real and per-
debt Of the city only about 100000.
The city will be asked TO subscribe for 81 ,0Oo,-
600 Of eight per cent. preferred stock in the
Chesapeake and Ohio railroad, conditioned
upon the sum of s., oOO, 900 in addition being
subscribed by other responsible parties. This
sum will secure the immediate completion of
the Chesapeake and Ohio railroad and place
Richmond on the high road to prosperity.
The city will only have to be taxed TO pay the
interest 81, 900, 600 during the progress of the
work, for upon its completion the dividends
will not only pay the interest but will rapidly
sink the principal.
Baltimore fifteen to twenty years aGoESgo.
scribed S., 900 900 stock, and in addition ioaheu
1000, 900 20 the Baltimore and Ohio haiiio""
Company TO complete its line to the ONO river.
Cannot Richmond now, with more thah nan
the population and half the wealth when
Baltimore then had, subscribe one-fourth as
much Let Richmond now secure the COM
pletion of the chesapeake and Ohio railroad
and all other things Will Dc aoaeo ah'o hel'