Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1868-01-24

brought from Missouri over that long route
down to the mouth of the Ohio, and up to
Pittsburg, more than one thousand miles,
and manufactured at a profit. Judge then
what will be the result when the coal which
can be bought for five cents a bushel, is
brought at a low rate of freight to the ores
in your county. Capital and labor will COL
lect from all quarters, and you will have
large towns spring up at various places
along the road in your county.
Suppose Staunton had twenty thousand
people, that the several small villeges all
over the county grew into large towns, and
that several new towns grew up under the
influence which have produced the same re-
suits elsewhere. Do you not see what a
large amount of your various productions
would be needed at home, furnishing the
very best market with very little cost of
transportation
Col. BALDWIN, in whose judgment you
justly place a great deal of confidence, ex
presses the opinion, that when this road has
gotten fully into operation, with the increase
Of population which I have but family at
tempted to explain to you, 1t waW require all
your surplus Of Jfonr to supply the home de-
n1dnd.
You will not overlook the fact that the
increase of population which will be the re-
suit of building the Covington and Ohio
Road will be mainly of enterprising white
men, the benefits from which, you will read
lily understand without my charging on the
subject.
Realising as you will all these great ad-
vantages, you should find in the views |
have presented, backed by the opinion of
your distinguished countyman, not merely
a conviction Of the immense value Of this
road. but reasons which demand of you not
only as matter of policy, but of justice, that
you should subscribe your fair proportion of
its cost. You should not be willing to let
others, less interested than yourselves, bear
this burthen, ever if it could be done with
out your aid +; but, as I stated in the begin
ming. you have no right to expect that it
can be done, unless you come forward with
other communities and help to max" up the
required subscription. 1t is proper here to
state that the several sums voted for by the
counties, have in most cases been coupled
with conditions which render them unavail-
able at present.
Result Of trying to make a contract watA
Mew York Capitalists.
The commissioners of Virginia and West
Virginia entertained a hope that a contract
could be made with New Yark capitalists to
complete this road-they have been trying
for two years-last year one Of the firm
spent the greater part of the summer in Eu-
rope trying to raise the money-he returned
unsuccessful-this year another of the same
firm went out, as it was supposed, with bet
ter hopes of success-he has returned, and
[ give here some short extracts from his re-
port, from which you will see that it is vain
to expect the work to be undertaken by
them. This gentleman went first to Paris;
after speaking Of some delays. he says;-
''It was only in September that [ had a
chance of introducing the subject of our
plan, and then | soon soon saw that nothing
could be effected in France. My attention
was directed at once to the German money
market" He was introduced by an init
mate friend, himself a large capitalist. "to
the first German banking house IN Paris"
After his papers were examined and his
plan explained, he was informed "that moth
ing could be done at present any more in
Germany than in France" After the fail
ures in France and Germany, he turned his
attention to London !; was at first somewhat
encouraged but that effort like the others,
resulted in disappointment, and he concludes
his report by saying ''the fact is, that in
London, Paris, and Frankfort, there is no
faith any more, neither in men nor things"
It is plain that if this road is to be built
we who have to derive so much benefit from
it must do it ourselves-we have looked
abroad for help long long enough-we must
put our own shoulders to the wheel, and
then perhaps We may not "coH on Hercules
IN vaim."'
Building the Covington road ENSURES the
shortening the road thirty miles between
charlottesville and Richmond and wiW SAGE
you from $25, 900 to $780, 600 annually.
The city Of Richmond has made a condi-
ton of her subscription of 1000, 900
that before it is called for, the Chesapeake
and Ohio Company will be required to enter
into bonds satisfactory to the council for the
construction Of the air line as it is called,
from Charlottesville to Richmond, by the
time tho road is finished to the Ohio river.
The distance saved is thirty miles, besides
the advantage of grades of only 20 feet to
the mile instead Of SO on the present road.
At four cents per ton per mile and four
cents a mile for a passenger, every passen-
ger, and every ton Of freight will be charged
Al, 90 less when that road is made than at
the present time.
I have before me a statement taken from
the books Of the Central Railroad Compay,
showing that the passengers and tons of
freight in the aggregate carried during the
present year between Richmond and points
in the county Of Augusta were 1880 in
round numbers. On this amount of busi-
ness, if that short road had been in opera
ton, you would have saved $4,000 this
year, being a good deal more than the av-
erage amount Of interest you would have to
pay, while the road is being constructed !;
and when the road is completed as shown
above, the guarantee dividend of eight per
cent. balances the interest on the bonds,
sY ---Iy-