The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1877-06-28
Rockbridge County.


Mr.. Stuart, in his address to the people o.
Augusta county, published ir this issue O.
the VIRGTNIAN, pays a just and glowing
tribute to the County of Rockbridgc. Whet
we read his statement that the county wa;
s'weished down with debt OF $3.50, 900, in
CURED by a. subscription to 4 railroad o.
which she has been wrongfully deprived, >
we were satisfied he had made mistake
Not knowing, however, precisely the nature
Of the debt of that county, we applied to ar
intelligent and cautious citizen thereof, who
is intimately acquainted with the financia
condition Of Rockbridge, for correct informa
ton. We give it below. Our object was te
do full justice to our neighboring county
and not to see her saddled with burthens, ir
public estimation, she did not really bear
II anything, the statement we furnish, adds
additional dignity to the. character of that
people, and shows that the practical business
men, some of them farmers, who manage
the affairs Of that county, as well as those
who have so wisely administered the reven-
ues of Augusta county, are the type of men
who should constitute a large element in the
Legislature of the State. The statement of
the gentleman to whom we applied for in
formation is given as follows:
At the close of the war Rockbridge coun-
ty had debt consisting of principal and ac-
cumulated interest of about 100000, con-
tracted on account Of her subscription to
the North River Canal. At the first Court
held after the war, a levy was made to pay
the interest and part Of the principal,
which was continued until 1870, when the
debt was entirely paid off.
By the great flood Of 1870, the Canal was
greatly injured and navigation suspended
for several months. The james River and
Kanawha Company was unable to restore it,
without assistance, and the county was
forced to contribute $4,000 in s per cent.
bonds, for that purpose. The interest on
these has been promptly met, and there has
been redeemed, or the money is now in
hand to redeem, $4,000. The levy for this
debt is u cents on the 800 of real and per-
sonal property.
In 1873 the County subscribed 1925, 900 to
the capital stock of the Valley Railroad
Company. OF this sum, $Sl5,0O0 has been
paid in the six per cent. bonds OF the county.
The remaining 100000 are withheld. with
the assent Of the Company, until work is re :
sumed on the road in the county. OF the
$3l5, 200 issued, the county has redeemed,
or is able, with the money in hand. to re-
deem, about 800, 900. The levy for THIS pur-
pose is so cents on the 500 OF real and per-
sonal property.
In addition to the above, the town of Lex
ington, at the close of the war, had debt of
about sl4, 900 contracted to pay its subscrip-
ton to the North River Canal for 1873. In
1873, the town subscribed 100000 to the
stock Of the Valley Railroad Company. OF
this subscription $4,000 has been paid in
the six per cent. bonds of the town, and the
balance is withheld until work on the road
is resumed. The interest has been prompt
ly met on both the debts and about IS, 900 of
the principal has been redeemed.
The above presents u fair statement OF the
OF the county and town. The
present debt Of the County is about $247,-
600, with contingent liability Of $4,000;
Of the town. $4,000, with contingent liza
bility of 900.