The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-12-18
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1ahorers. can be built in eight or ten months
certainly in twelve months. The straignb
shoot would have grade OF thirty feet 70
the mile, and would not benefit the people
OF the valley OF the James. Inc damage
done to tho canal by the foods Is from
water in the canal running back into the
river. The dams ought not to be dcstroEea,
for il useful Cor nothing else they VIII DC
for water.power hereafter. Ninety per
cent. OF the road may be constructed aion V
The canal, and there viii! be no tuhnel .li ss
he knew Of this side OF Buchanan. FIs,sa.
could be carried cheaper over TINS ioas :t" -.
over the Straight-Shoot. He spoke oi ~ tt 10
aireight line. He had never been ove h slo
canal between Richmond ana Lsnen n,,,ai,
but he Judged it vas like the other c''aa'S
be knew OF. -,
MIR. whitcomb thought that q fair recon-
Nuisance of the work could be made IN
three weeks. and that the cost would DE
ahont twenty-five dollars dSy and eX-
nenses. There would have TO be survey
before any work OF turning the canal into
a railroad could be done.
On motion OF Mr.. Cannon, the thanks OF
the Board were rendered to Mr. Whitcomo
and Mr.. Stearns for the valuable Information
they have given the Board on the subject OF
the railroad.
OTHER SPEAKERS.
ON motion of Mr.. Bass, the Board in
yited the vice-president OF the Chamber OF
Commerce to address the body.
Mr. Blankenshlp spoke OF the great dis.
truction to the canal by the late HOOD, ana
ursed the importance OF approprlatlng
$4,000 to repair the canal. This was the
subject that Interested him now more than
any other. He believed that the city was
now losing more than $1,000 day by the
stoppage Of the canal.
Mr.. Piekrell said he believed Colonel
Gordon was present. and thought he had
better be heard.
Mr.. Cannon said we had one question be-
fore Us now, and it would be better to dis
pose of it. II any substitute was to be offered
he thought it would be proper to offer ii
now.
Mr.. Todd said it would be necessary to
put stop to our courtesy ut some time, ana
as Colonel Gordon occupied the position OF
counsel for the canal company this was the
proper place to draw the line.
Mr.. Pickrell withdrew his motion to hear
Colonel Gordon.
REcoSSoIsANCE PROPOSED.
Mr.. Bass now presented substitute for
hir. Todd's resolution, as follows:
RESOLVED 1.-THE Common Council concur
ring). That the Committee on Grounds and
Buildings be and are hereby instructed to
have reconnaissance or survey made Of the
projected railroad from Richmond to Cliff
ton Forge, and report the result Of the same
at the earliest practicable moment to this
body.
Mr.. Todd moved to lay the resolution On
the table, as it was begging the question.
He thought that whatever was TO be done
must be done quickly, and that we had bet
ter take vote on the main proposition.
Mr.. Bass said ne was rs warm an advocate
OF the proposed road as its warmest friend,
and be would withdraw the resolution for
the present.
Mr.. MEREDITH'S REMARKS.
Mr.. Meredith (Mr. Williams being in the
chair) said he had no objection to giving
the $4,000 to repair the canal il we could
secure the charter; but the very moment the
canal is put in repair the subject OF rail-
road will die until the next flood.
There is q crisis, said Mr.. Meredith, in
the affairs of the canal which seriously
affects the interests Of Richmond, and de-
mands our most careful consideration. The
canal has been heavily damaged throughout
its entire length, and can only be repaired
at heavy cost; and the immediate queS-
ton is from what source can the means for
repairing be obtained? The State owns as.
a stakeholder eighty-three per cent. OF the
whole work, and the private stockholders,
including the city OF Richmond, the re-
manning seventeen per cent. 1t IL mani
festly the duty, as it is the interest, OF the
State to make the necessary repairs; but
except the convict labor she has no means
at her command. The Constitution pro-
hibits the State from expanding any money
on works OF internal Improvements. The
counties bordering on the line, who are de-
pendent on the canal for the means OF trans
porting their products to the market, are
either unable or unwilling to give any aid
for its restoration. The bondholders,
whose mortgage will be seriously impaired
il the canal be not repaired, have made no
effort to lend assistance. The city OF Lynch
burg will not. The only other quarter to
look to for aid is the city OF Richmond;
and the question for us to decide is,
Shall the city furnish the means for
these repaifs? 7 am opposed to re-
pairing the canal and stopping there.
We must do more. / am opposed to making
these repairs because 1t is 8 temporary shft.
The disaster is ever recurring. Itmay hap
pen every year. 1t has occurred twice
within the past seven years. We aided in
its repairs seven years ago at cost to the
city Of 100000, and have never been paid
one cent of interest. The whole cost OF the
repairs then exceeded 100000. II the city
has to bear the whole burden OF these ever
recurring disasters, she cannot afford 1t !;
ana whilst she is thus expanding her money
on the canal she has no voice in its manage
ment.
IT IS ABSOLUTELY UNDER THE CONTROL OF
THE STATE.
There is a suit for the sale Of the canal
by some Of the bondholders, and there will
be q decree Of sale in short time. 1t is
maniiestly to the interests Of the city to buy
ltwhen sold, as she cannot permit it to fall
int hostile hands. She win, in fact, be
forced TO buy it in order to save her debt,
which new amounts. principal and interest,
to nearly 100000 The debt is secured by
the second mortgage, and the debt secured
by the first mortgage amounts to $75O,000.
The canal at auction will not bring the
amount OF the first mortgage, and the city
could afford to buy it at that sum, as it
would then stand her, her debt included, at
about 81, 100000. No one could bid against
her without bidding over that sum.
She can well afford to purchase the cal
nal at this price, as the income from
the dock and the water rents yield annu-
ally S5S,O0O, which will pay the interest on
the entire cost; and the income from the
tolls and other sources can be applied to
keeping the canal in repair. 1t being GER
tain that the canal will have to be sold. and
that the city will have to buy it to save her
debt, is it not folly to improve the canal by
repairing it, and thus enhance the value OF
the property we are about to purchase !
JUa cbalI Tins not only lose the sums ey-