The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-03-30

Ing ueDC Ii SO SUldll III COulpaIlsVu HitA iLo
capital stock or with the value~of lts pro-
perty. OF all the great system OF Internal
Improvements undertaken before the war,
constructed largely with public money,
and resulting in the creation of our public
debt, the States controlling interest in the
water-line embraces nearly all that remains
unalienated.
Years ago the other great properties Of
the State were aliened or sunk by legisla-
ton which is now conceded on all sides to
have been mischievous and disastrous. This
last Of the more valuable properties OF the
Common ealth is involved in financial dis
tress and in peril. Both general and special
causes of depression, which are well under
stood, have 80 embarrassed 1t that nothing
but skilful and faithful management has
saved il from foreclosure and sale in the
past. Shall this last OF our great properties
be surrendered to the fatal policy OF the
past, or shall it be utilized and preserved as
n means of developing the taxable resources
and restoring the credit OF the Common
wealth?
WHAN CONNECTION CAN WE GET?
Any connection between Buchanan and
Clifton Forge completes the line OF transit
between the great coal and iron belts. 1t
brings inexhaustible stores Of fuel and iron
ore into juxtaposition. The question is not
what sort of connection we prefer as per-
manence for the future, but what connec-
ton can we get for the immediate present.
We cannot afford to lose time In speculating
upon abstract preferences. Whatever con-
nection is quickest and cheapest is de-
manded by an imperative necessity and as q
measure OF immediate relief. Any con-
nection supplies incalculablc freights to
the canal, at once augments its revenues,
enables it to discharge arrears and cur
rent demands, redeems its credit, and
strengthens its ability to extend the
water-lne to the commerce OF the
West. The quickest practicable connec-
tion is the only plan left us for saving
the company from utter prostration. 1t is
not denied that little more than one years
time, with the legislative support which is
asked for, is all that is necessary for COM
pleting the connection by rail. Two years
is the least time estimated by the most in
terested and sanguine parties, while five
years are assumed by the bill to be neces.
sary for extending the water-line, even to
the vicinity Of Clifton Forge. The differ.
ence in the expenditure of money required
by the two plans is not less remarkable.
NECESSITY FOR THE RAILWAY.
In common with great number OF those
who have most consistently and earnestly
supported the policy Of through water
line, I hold that an immediate connection
with the coal-felds by rail is necessary tc
save the water-line. Reluctant, and among
the last to accept any substitute for the ca.
nal, even as temporary eXpedient confined
to a short section OF its line, yield to the
necessity which dictates the construction oI
the railway link, in order to preserve the ca
nal for the present and to extend it in the
future.
am aware of the responsibility which
attaches to Executive action intended tr
arrest legislation affecting this great in
terest. But if the bill should become law
by reason Of my failure to resist it, its ac
tual operation in the future would, in my
belief, subject me to far worse RESPONSE
biity in the forum OF my own conscience
and in that of the public Judgment.
AN EXTRA SESSION IIINTED AT.
NV action upon the bill has been taken
within less than twenty-four hours from thu
time OF it's enrolment, with the earnes
hope that some alternative measure may bt
perfected and passed at once. II it is tht
purpose OF the General Assembly to ac
further on the subject, no constitutions
effort shall be wanting on my part to facili
tate the passage Of any measure which may
commend itself to their wisdom and indie
pendent Judgment.
Satisfied that this bill, il approved, woult
result in the foreclosure and sale OF thu
canal, deem it not at all unlikely that th'
failure OF the present General Assembly tt
act further on the subject would produce
the same result. Whatever the Legislation
necessary to save the water-line, it is posi-
BILE to perfect it; and deprecate the posi-
bility that the loss OF that great property
should be due to legislative non-action.
JAMES l.. KEMPER.