The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-01-17

is. Books Of subscription where opened.
| 10. The company thus consolidated to gave
notice within thirty days after the organ,N"
ton TO the Board of Public Works, WIN
COPY Of terms Of consolidation.
| % and 81. Law, when passed, to DC "
| n,c,ted to Governor OF West Virginia ""o
The above abstract presents clearly the
ua,.;.;on. or this important bill. That II
nroro.e. an immense benefit to the State
none can deny and were the opportunity
oT,red to-day to surrender the property
and the claims Of the State In and against
the roads named in the consolidation for
completed lines from the sea to the Ohio,
according to the above bill, we suppose nc
man would say the bargain would be one
to be rejected. Itwould be conversion
of bundle of securities, at present un.
Productive and of mere nominal value,
| into chain Of railroads to the west that
would pour untold wealth into Virginia,
and so enhance her resources as to make
her debt but light burthen easily paid
What is the difference between the sudden
possession Of so great good to the State
and its requirement after that delay indis-
pensable to its completion! Nothing that
we can imagine save the difference in
time. 1t is not at all likely that the securi-
ties the State may surrender to the con-
solidated corporation could be in that time
improved in value, for their improvement
depends almost entirely upon the compile
lion of the grand western connections
proposed by this bill. If, then, we would
all, with one, accord, jump at such con-
tract offered to-day with lines complete,
and Immediately commencing their opera
tons in enriching the State and the peo-
pie of Virginia, We see no good reason
why we should not enter into contract by
such surrender of State securities to &C
complish the same thing in few short
years.
No man has yet exaggerated the grand
benefits to Virginia from connecting her
self through her railroads with the great
Mississippi Valley through West Virginia
and through Kentucky. When those con-
| nections are formed, a revolution will en-
sue in Virginia the magnitude and bench,
cent character of which we cannot now
appreciate.
1t is believed by the most calculating and
sagacious men that the surrender of the
States interest in the lines as proposed in
this bill will Immediately give them the
credit and power, with the cooperation
of the communities in the two States inte-
rested in their undertaking, to 60 on
with the road to the Ohio, and to
complete it considerably within the time
specified. 1t is generally understood that
there will be prompt cooperation on the
part of the Southside roads and the Central
in the grand work surrendered to their
charge should the bill pass, and that as
promptly as the road is built to the ONO
will that be built from Covington to Lynch
burg [where Richmond, if she sets true
value upon her interests, must meet it
with her airline road.
The nominal amount proposed to
be surrendered by Virginia by this bill
is about 81 900, 900. Those gentlemen who
have examined the subject patiently and
deliberately express the opinion that Viz
ginia will be more than compensated by
the tax imposed in perpetuity OF one mill
per ton per mile upon freight, and one mill
per passenger per mile on all the consoli-
dated lines.
1t will be grateful reflection, should the
extensive work be built in this way, that it
is done by Virginia energy and enterprise,
and that its fruits will not be in great part
carried off to enrich people at distance.
The process, too, will be salutary, mas
much as it will give up the lines in ques-
ton altogether to individual enterprise
which is so much more thrifty than when
paralyzed by connection with the State.
A principal point in the discussion OF
this bill will be the question as to the
ability of the consolidated lines to COM
plete the great main line. A failure on
their part, occurring after the surrender
to them of the State property, would leave
the State minus that property, and with
out the consideration for which it was sur
rendered. In that event, the remedy
against the consolidated lines, or rather
the Chesapeake and Ohio railroad, pro-
vided in the bill, is entirely ample.