The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-12-06
. .rs.s .Iaroas 3 yer valley Railroad,

asr4n Ay>.s....> ]. DEO CEN BER 9, iSss :,
NE sIIasns-River valley Raslroasd
s,rbere was good news In sur tssae 81 WV
) as,.,aS ii ahe ssatement that tho capltailssas
sy,,, s,ave 81 il, contempt TO naiad 2
sa;lraaa up The Valley OF The Y asslsss ssass
sonsersed 10 accept the terms agreed upon
here last week by and between the sesera'
coa,racting parties. Noother scheme when
ms been before the public FOR many years
has had SO much ia 1t To commend It 70 UNI
yerssi appreciation as has the one now sae'ss
consideration. The Valley Of the James :
one Of the finest regions in yirginias anu
yet it is to the world ut large terso uscog-
saitd. 1t has been buried In obscurity as .
consequence OF the want OF system III W,
interim, improvements. The canal occupied
srouna which, II 1t had been occupied Dy
. railroad, would have been ere now tne
seat OF large population aud much Wealth.
we are sorry TO notice that objections are
being raised in some quarters 70 tue con-
summation OF the contracts to winch we
have alluded. It is seriously set forth tnaS
the State owns so many millions OF aoi-
7ars, worth of stock In the James River ans, anu
Kanawha Canal Company, and euant NOV
70 surrender that stock without Vasuap'e,
consideration. In view Of the fact that the
canal is. an acknowledged failure, tne re.
ceipts from its tolls not being sufficient
even 10 keep it in operation, this OBJ
lection would not seem to be very
grave one. General BUTLER is said 70
have remarked some eighteen months
ago that the Republicans bad III tue
matter Of the presidency taken o sfea'
deal OF trouble to secure q aeieat' %
bitterly was he opposed to Mr.. HAfEss
southern policy, as it was called. virginia
has had exactly a similar experience win
her canal. She has taken much trouble, ana
wasted much valuable time, and expended
much money, in securing an abortion OF a
canal. So worthless is it that when 1resnet
damages its banks the company has 10 call
mon Richmond, or Lynchburg, or Inc
State, one or more or al, Of them, to furnish
the money necessary to its repair. IL
is utterly powerless to help itself. Inc
corporation OF Richmond turned zeal
ear to its last appeal Tor assistance.
When the next freshce comes, LynchDurg
will probably follow the example OF Rich
mond; and in the course OF few years We
NAV expect to see the canal entirely aban-
doned. It's sale now will secure substitute
for it which will be as much better than It
self as rapid transportation is to that zone
BY an ox-cart; for a resident of Powhatan'
Cumberland, Goochland, Flnyanna, or"
Buckingham, who now comes to Richmond
by. the canal and has to devote several days
TO the task, besides being compelled to be
away from home longer time than
he can we'll spare, and to lay out
much more money than he ought TO
have to spend in order to take such
trip, might, il there were a railroad, come
down and 90 back the same day Tor sum
which will now hardly pay his hotel bill in
Richmond. To claim that This canal is
worth anything to the State or to any other
of its stockholders is to assert what no capl-
talist would admit to be fact. 10 refuse
70 sell to men who could make something
out OF 1t would be merely pursuing the
policy OF the dog In the manager. The
stockholders derive no dividends from this
property. It is worth less than nothing as
an Investment. II compelled to keep the
canal in order, or give it away, they would
with one voice declare for giving it away.
Considering this one fact. how can anybody
maintain honestly that.th canal is,a Falua-
BILE property - = *t-S' sT1.s
The capitalists who are interested in this
scheme cannot be overreachcd. They have
as vet invested no money in 1t. They are
not bound to it by any sort OF ties, peeu.
mary or other. II they were compelled to
drop it tomorrow, they would, weSuppose,
be out OF pocket only 10 the extent of the
few dollars which they have expended in
surveying the line and investigating the
merits OF the project. We trust, however,
that no VirgIhian would be SO unpatriotic
as to be willing to damage the State to fur
Their uniustlfiable schemes OF his own, nor
so grasping as to seek to compel tribute to
his pockets where none is due, and from
property which is now Yalueless and which
will become valuable only when other peo-
pies money shall have made it so.
The Southern Planter and Farmer for
December came to hand while we were pen
ming this article. We are pleased to find in
it the following paragraphs on the subject
which we are treating:
.sGLoRY ENOUGH FOR ONE DAY-THE
JAMEs.RIvER VALLEY TO BE RELIEVED OF
THE INCUBUS. OF THE CANAL.-When the
food occurred last year the Planter took
new ground with regard to the canal. 1t
found. after considering the matter in allof
its aspects, that the time had come when THIS
work must be disposed OF, and something
put in its place in consonance with the
spirit OF the age--in other words, that It
must give way to d railroad. We had the
honor OF starting the ball in the new. direc-
ton, and since that time our best energies
have been devoted to bringing about this
most desirable contamination.
.It is to be hoped that no creditor OF the
canal company will be so blind 10 his own
Interests as to endanger the completion OF
this enterprise by insisting upon more than
his debt is worth. He must look at the value
OF his debt il the canal continues, and act
accordingly. ;.s.s,54 "a.
1--WE have not space now to dilate upon
the probable results Of this grand under
taking. We will refer to them hereafter.
In the mean time let US all do the best that's
In us to make what has been SO auspiciously
begun an accomplished fact.
Tho oditnr then gives from the D{SD1tch