The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-03-24
The $3.50 and the 5000.

The followers Of General MALONE are in
clined to disapprove OF the vote in the Sen
ate against the proposition of the "Scotcl
merchants" from Petersburg. We are not
surprised. because that was their PROPOSE
ton. But they are pressing the question
And it would be we'll for the constituen,
body to look into it before deciding. Then
let us, under our view of it, AS several Of
the constituencies how the case stands
l. The nine," when the bill was in the
House. proposed to lay the States interest
in the Richmond and Petersburg railroad
at $3.50 in State bonds for 500 of the shares
in the Richmond and Petersburg railroad.
The MALONE party, under the speciouS
plea that those who offered this price
Sl5O-lived out Of Virginia, (as if the mo-
ney Of man living out of Virginia was not
as good as that of Il man living in Virginia, }
commended that it was the duty and interest
OF the State TO take General MAHoNE's 500
III preference to the offer of $3.50 bv WAL
TIERS i Co. The House differed with them.
and voted for the hid of the "nine."
II. When the bill goes to the Senate it is
proposed to be amended by the offer of 5000
by the MALONE party, General MALONE re-
tifins behind the scenes and tbrusting for
ward the "Scotch merchants" of Peters
burg to make the offer. The MALONE party
Immediately changes its tactics, and adopt
ing the argument Of the "nine," Uamous
number0 contends noeo that the highest
price should take the persimmons-i.e c., the
stock. But the advocates of the PROPOSE
ton OF the nine reply that the bid, thin
ly disguised, is still that of General Ma
HONE and
III. That an offer of 500 for State stock
In the Richmond and Petersburg road is
indeed an offer by a corporation which is
already SO deeply indebted to the State that
its securities are SO materially affected by
the increase of its obligations by the accept
ance of it's bid, that it could not for a
moment be entertained. It was simply the
bid of the Atlantic, Mississippi and Ohio
Railroad Company, which already owed
the State more than it was ever expected
to pay, and it would be the supremest folly
in the present necessitous condition of the
State to accept its proposition. The con.
clusion was wise and just, and bv the &C.
ton of the Senate in accepting the propo.
sition Of the "nine," or WALTERS and
others, the interests of the State are Judi
ciously protected. When bank has loaned
man as much as it is considered his re.
sources will enable him TO pay, would il
not be the madness Of folly TO lend him any
moreI So the Senate considered. Several
OF the ablest men in the body said that fol-
the State to lend the Atlantic, Mississippi
and Ohio any more money would be
tantamount to taking money out of one
pocket and putting it in the other.
Nv. Therefore, we can zee no difficulty
In the way of the complete justification o.
the gentlemen voting for the proposition OF
the "nine" in preference to that of the
scotch merchants" of Petersburg-tht
latter being no bid Of those merchants il
fact, but bid of u corporation so heayil,
indebted to the State that there is Ittl,
hope that it can pay new obligation il i
can pay the cid one, of which there i
much doubt.
The signs and the positive testimony are
quite sufficient to justify the belief that The
offer of 800 was merely made to defeat the
sale tothe "nine" at Sl50. Indeed, a gen
tleman representing the Atlantic, MiSsis.
slppi and Ohio approached Senator and,
under the impression that he was with the
Atlantic, Mississippi and Ohio, informed
him that TO vote for the bid OF. the "scotch