Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1873-04-15

) | the people IN their interest might desire III
!, ,turtherance Of the purposes for which those
corporations were established, and to make
them bear their rightful share of the bur-
Idens OF the people in that Government
Iron which they sprung and whose protec.
-ItiOn they enjoy.
1.-THE EVIL CONSEQUENCES OF SUCH A
POLICY.
Mr.. Chairman, with the permission of
the committee, | shall ask further indul-
gence that l may bring to your attention
some of the bearings of this PROPOSE
ton and expose the failacy of the So
Icalled advantages which the advocates of
this bill claim in its behalf. Let us exam
inc the consequences which are likely to
follow the adoption OF a measure like
this. 1t is claimed that to give to anybody
and everybody the privilege of building
railroads anywhere and everywhere will
give us more roads and more capital, but
how this is to result is not shown. Capital
seeks investment in railways as in other
enterprises with reference to profit, and in
railway enterprises profit is in great part
determined by the amount Of traffic to be
obtained at remunerative rates. | would
like to know where there are any two
points unconnected by railway in Virginia
(which promise such results as would attract
capital, and if there are any such points, |
submit, that if to this General Assembly
duplication is made for the necessary pow
lers to construct such connecting works,
and it is proper that these should be
granted, what is there in the past legisla-
ton OF the State to warrant the refusal Of
the required franchise: Wherefore the
Occasion of any mistrust Of this tribunal,
1.-THE immediate representatives of the peO-
lple whose rights are TO be dealt with and
whose privilege is hearing and 4 voice upon
lall questions 50 directly and vitality affect
ling their interests? Is it because the spe-
cial promoters of the particular scheme de-
sire TO obtain powers which they could not
reasonably ask or expect 10 be granted in
iOpen court, that this new mode of prOce-
lure is sought to be enacted? Is it be-
cause they wOlud trcspasS upon private
rights and invade other interests, whose
proper protection would be guaranteed by
iLhe General Assembly? Is it bccause
their project is wanting in that public
jpOiicy viii, h alone can authorize the eXer-
icise Of the rght Of eminent domain? If
$50, why should snch powers be granted?
/ There are two motives which prompt
the construction of railways, one or the
lother, or both Of which, must obtain. The
one is where the enterprise promises such
IpToit to the investor that capital will en-
gage in the work. Wherever you can de-
lmonstrate that safe and profitable employ
Iment for capital can be found, there it will
seek investment. The other motive is the
existence Of an interest, local and inherent
Ito the enterprise sufficient to justify the
expenditure necessary to its construction.
! Let us suppose, by way Of Illustration, i
THAT there are two points in the Common
wealth uncOnnected by rail where the local
Interest, the material interest of the coun-I
TRY now dormant is of sufficient magnitude
Ito Justify and stimulate the people To come
forward and to the full measure Of their
liability undertake the construction Of the
Iparticular work. There are such cases to-
lday within nv knowledge. When our own
ipeOple, earnest and honest promoters Of an
honest enterprise, shall have gone to work
and shall have contributed enough OF their
Iown means to place their enterprise within
the reach of absolute certainty, what will
1be their fate under the operation of this
bill? Well, about the time you had
marked out your proposed scheme, and all
The people. by townships and counties, had
come forward and contributed to the eXH
tent of their ability, your right of way had
been secured, your subscriptions made up,
2nd though there was yet an insuIficiency
OF means, YOU had enough to provide a
basis OF ample credit for the balance, and
were now in that condition which would
insure the completion of your road just as
YOU had completed this task and the enthu-
siasm of your people had been exhausted
for now they have done all which lay in
their power-the man on the mule would
come along the route Of your proposed
work blazing the trees near by-fOr this Is
the fashionable way for making surveys by
those who project roads which they never
intend to build, the plan of survey you
NAV anticipate under the operations Of this
bill. He meets your people as he rides
along. and in answer to their inquiries tells
them that he is marking out track for a
railroad.
/ This is news to the people. lie tells
them that :" five natural persons " i'll some
corner of the State, perhaps the Dismal
Swamp. have chartered a railroad, say from
Clifton Forge to Bonsack's depot. They
ask who is going to build it. Shall | say
Vanderbilt or Tom Scott or the Southern
security Company? for the man on the
mule represents some one Of these great
mowers. What is the effect? 1t Is that
mr. friends who have been really at work,