Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-10-19
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the Com mlttec Cd luUIlC bcot' ~ 1" NY o".J'
| az we'll as my pleasure, to welcome you mere TO-
day, aud extend to you cordial greeting anu
the hospiaties of this one of the oldest cities,
| not oplrofthe Old Dominion, but one ofbc old
est cities 10 this country. congratulate the city
| upon the very large representation here present
of its bondhodcrs, showing an interest IN It's
affairs far beyond our fondcSt anIcpalons. on
are here 10 deliberate upon matters CT vital IN
terest to US; matters Involving our future
prosperity, nay, our very GXStGrca as a corpora
ton. | may be allowed to express the hope
| therefore that our deliberations may result III
mutual benefit. The circular which has been
sent out 30 fully explains the Object and pur'
poses of this conference that it seems hardly
necessary for me to detain you with any further
remarks in reference thereto, and yet, IN order
TO a full aud perfect understanding Of our pres
ent 6nancia condition, anlb the reasons which
suggested this proposal, 1t becomes almost q
necessity that | should set before you state
ment showing the origin anu growth oil the
city debt, and the causes which have LED 10 The
present trouble, TO discuss which wo have asked
your presence here TO day. 10 the year 81 )
when Tie city and county Of Alexandra were
rcrooedel to the State Of Virginia. the debt OF
the city amounted to abnnt $G5O,OllO, being
made up of Subscription To the &. y. Canal
|
canal were not what was expected. and it was
seen that many years must eIapSc before the
full DEVELOPMENT Of the resources opened up by
that great work could be made At once the
town turned it's attention in the direction Of
railroad enterprise, and Tor years Stlntcd not oil
its means or its credit to obtain all the faclll.
ties that the construction Of such works could
afford. RetroccsSion was ompliShcd in 1871,
and the Commonwealth Of Virginia assumed
three ,Glths Of the internal improvement debt
of Alexandria and took up $272,00O Of the
canal subscription. At once railroad enterprises
to the Southwest, to the Valley Of Virginia,
and to the Northwest were projected. For a
time thcso projects, with the limited means st
tho CON mand Of the city, seemed only dreams,
but they were set Oil foot and are now III good
part accomplished by the liberal Contributions
of the city and the energy Of its citiz, in at
tracing aid from abroad. 10 1919 the city made
a subscription Of 100000 to the Orange and
Alexandria Ralroad. In 1880 1t subscribed
i $50, 600 to the Manassas Gap Railroad. 10
1851 it subscribed SIC, 900 toward the conStruc-
ton Of works 10 supply the city with water. La
1853 it subscribed $4,000 more to the Orange
and Alexandria Railroad. In 1871 500. 0no
more was subscribed to the Manassas Cap
Railroad, ard when it was found that the III
its credit that its bonds had suck too far bclnw
par to be received fer the subscription. the
people, by vote, authorized q subscription 10
cash, and the city with wild enterprise that Is
simply amazing paid nearly 500 600 additional
to render tho first subscription of 500. 900
available. Besides this, in order not to be be-
hind the times, the city spent 4 large sum ID
building gas works. The Alexandria, Loudoun
and Hampshire road Washington and Ohio
was constructed without public aid by munih,
cent private subscriptions and its creation and
its progress have been due mainly to citizens OF
Alexandria. A small Alexandra company iirst
constructed the Alexandria and Washington
Railroad. Thus up to the period OF The war Tho
city Of Alexandria had made subscriptions to
works OF internal Improvement al follows -
Middle Turnpike. $ 10000
Chesapeake and Ohio Canal, 1000
Alexandria Canal, G3O,0OO
Orange and Alexandria H,ilroaa, 10000
Manassas Gap Railroad, 4al,0oO
Alexandria Water COMPANY, 10000
$3.50 900
So that the city has spent ont OF tho putl!c
treasury over one million five hundred tbous
and dollars 10 works OF Internal improvement.
The whole personal and real estate OF the CITY,
as reported by the assessors last year Is ~
692. llG-in round numbers 1--we and a
half millions Of dollars. Alexandria has
thus spent in the cndeav0r to attract
trade over one fourth OF all the property,
real and parsnnal, which is owned in the city.
ut may fairly challenge The world to show a
city OF no greater resources which has expended
40 much On works Of internal Improvement.
Such enterprise richly merted success. and
would havo won for our city thrift and pros
perity had not continuation ot unfortunate
circumstances inteIVe0cL to prevent cncum.
stances eliminating ri irarlcldal war, With all
its desolating consequences, naturally followed
by a foanciaI depression, which snatchcd from
US that priza Of commercial rre.emlncncr, to
attain which we had made such heavy cx-
penditures. Ia all this the city OF Alcxan-
dria seems merely TO have f,lIowel he de-
termination of the man 10 the play. when he
said, "'ris not in mortals always 10 cammand
succ, ss We will do more, ScmrTonlus, we
| will deserve il" From this necessarily incaGre
exhibit it will appear that the city Of Alczan
| dra has ntvar engaged ia any wild schemes,
every enterprise to promote which she has gone
| in debt has been legitimate and practical. 10
| issue bonds 10 order to raise money to bald gas
works was to engage 10 no wild visionary scheme;
| to light our city Was necessity, and this H.
vestment has always paid a handsome revenue.
TO issue bonds to aid in constructing railroads
to connect this city with the back country in or
der to pour into her lap the rich products OF
tho Piedmont and far fined Valley. was to en-
gage 10 no wild and visionary schemes Oa the
contrary business men will at once recognize
them as proper aud legitimate enterprises, and
such as should have yielded handsome returns.
| That they did not circumstances over which We
! had no control must answer. After rctr0ccs
sion the city of Alexandria made rapid progress.
Its population doubled itself in few years.
Capital flowed in, and energy and enterprise
distinguished every department Of trade, and
the city seemed to have graspcd We'll assured
prosperity. This condition Of things continued
until the war came on. This, at an fell blow,
swept away all OF our means oil attaining pros
perity. 10 it's rosistlcss march it destroyed all
of our canals and railroads. and at its close left
the city without tho means Of intercourse with
the back country, through which alone it could
expect to revive, and saddIed with an immense
| debt, not one cent of which, either interest or
priucIpal, had been paid during the war, al