The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-02-23
..,,.- az having two laws of different cha.

culty of having two laws Of different cha
racter for the two asyluus.
Mr.. PuRpY explained his views Of the
poIjcy that should be pursued in the ad.
ministration Of the affairs of the asylum,
and concluded by expressing his approval
of the substitute offered by Mr.. BALDWIN.
! Mr.. SMITH minated his acquiescence in
the same.
1.-THE bill, Mr.. BALDWIN said, protected
the institution from the improper disburse.
ment Of the funds for its support, and from
improper contracts, which were the abuses
chiefly complained of, and gave tho Co.
vernon the authority to appoint new
Board at ON early day-lst of July ne1t;ll
The substitute was agreed to, ana ING
bill ordered to be engrossed.
VIRGINIA EXPRESS COMPANY.
The Senate bill to amend the 4th section
of an act passed December IL, 1866, 10 ln-
corporate the Virginia Express Company
came up in order, reported from the CU T,l
mittee of Roads with substitute. Inc
House concurred in the substitute, ana the
bill was ordered to its engrossment.
WINCHESTER AND POTOMAC RAILROAD.
IN motion of Mr.. WALL, the bill autho-
rizing the Winchester and Potomac rail-
road TO borrow money, etc., was taken up,
read second time, and ordered to Its en-
grossment.
JAMES RIVER AND KANAwHA COMPANY.
The bill to authorize the James River
/ Koro,yho Tnpnnony IN borrow money
came up in order.
When the bill was last up, Mr.. Ora
HAMS amendment to the substitute OF MIR.
CRUMp was pending. Mr.. G. now with
drew his amendment, and the question re-
Cured upon the substitute, which was
read.
Mr.. PENDLEToN offered substitute for
the substitute empowering the company &c
borrow "a, 100000, but prohibiting it from
borrowing more than $750,0O0 until the
Covington and Ohio railroad shall be put
under contract. The interest authorized
eight per cent. and the company is re.
CURED to recognize the $4,000 received
and sold under act Of March IS, 1862, as Q
part of its floating debt.
Mr.. PENDLEToN sustained his own, and
opposed the substitute Of Mr.. CRUMP. His
chief objection to it was that it delayed
the privilege Of borrowing money, while
the condition of two dams on the line was
such as to threaten the suspension of the
operations of the work any day. 1t would
deprive the company of the means to pre-
serve it's works and continue its business
Mr.. p. considered it important that the
canal should be sustained. 1t was the
most valuable work in the State, and
brought to this city last year near $4,000
tons more than all the railroads termina.
ting here, at saving of near halfa million
of dollars to the labor Of the country.
Mr.. CRUMP (who appeared in his seat
! after brief detention from it by indispo-
sition) avowed his friendship for the cana
and his full appreciation of its commercial
Importance and value. He expressed also
his high personal regard for the gentlemen
to whose direction it was entrusted. lie
admitted their general ability. Yet there
had been one general complaint for long
series of years against the James River
and Kanawha canal until that complaint
had become chronic. He intimated that
this condition of feeling towards the cor
poration demanded an investigation, and
he was unwilling to give this company four
millions, or any additional appropriation,
until an investigation and approval OF its
management. 1t had thus far been sink
pocket.
Mr.. CRUMP explained the substitute,
which authorized the mortgaging Of the
property of the canal for q loan not ex-
ceeding 100000; but prohibited the is
suing of bonds or the giving OF mortgages
until meeting of the stockholders Of the
James River and Kanawha Company shall
be held and it appointed Robert Il. Lee,
John J. Allen, William II. mcfarland, Ro-
bert Y. Conrad, and Wood Bouldin, COM
missioners who were to examine into the
condition and prospects of the canal and
determine whether it was not wise ana
prudent to lease it. Their conclusion,
whatever it might be, would command the
general confidence. What gentleman would
not give up his judgment to theirs! The
affairs of the canal had arrived at the
point which made this inquiry entirely
proper. 1t was neither reasonable nor
sensible that this canal should be allowed
to come here year after year to ask the
privilege of borrowing money upon mort
cages until the property in the canal would
be pledged for more than it was worth.
But short time since the State passed a
conversion bill, relieving the work OF
some s7,0O0,000, which was to make all
easy, and the company was to be no more
i'm want of means. Yet it continued its
annual appeals. 1t always came under ur-
gent necessity; dam was about to break
and would do so unless bill was passed
| +brourb hmm ad ately and IL had now a
floating debt Of s75O,OOO.
Mr.. CRUMP alluded to the hopes so often
held out by the company and so often dis
appointed. 1t had lived on hope. The
DeBellot scheme had afforded vast
amount of this sort Of shadowy food and
DeBellot came here through the cable and
secured the passage Of a bill to enable him
to see whether he had borrowed $40 100000
or S2OO,OO0,OO0, Mr.. c. could not tell
which. If he succeeds, give Bellot glory
but Mr.. C. protested against the State be:
ing fed on such hopes and fancies as had
led from one step to another in the embar-
rassment of the canal until it had brought
down the general clamor now heard
against it.
Mr.. C. wanted to see if something bet.
ter could not be done for the canal. AS
far as he could see, with his limited know.
ledge Of accounts, the canal had done its
best but he wanted to see if some one
could not do better. If the commissioners
decided that this could be done by leasing
out the works, Mr.. C. felt satisfied the
whole State would acquiesce with perfect
confidence in their judgment.
Mr.. G.. would be unwilling to pass any