The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-11-04

they Efe SIsUnIy FOLIlssapI ny SSsse
/, sseaker1n New York last Thursday right
he uttered the opinion of the statesmen OF
tho whole world. The man who tells you
that the Government can make money tries
TO deceive you. sss5 s5:5
The James River and Kanawha Canal
a. communication signed " Bondholdero
appeared in the Eynchbtlrg fetrs OF Thurs
day, written by one who speaks as WITH at-
thority After referring to the failure OF
the canal, the "sink-boie for public and md
private funds = the writer goes on to de-
scribe how a combination OIL the bondhold-
ers can speculate out Of the agonies OF the
canal and the necessities of the public.
After many uggestions. and the statement
that the Richmond and Allegheny Railroad
Company and the Atlantic, Mississippi and
Ohio Railroad Company could be made
rival bidders for the property former
for the whole line. the latter for that part
above Lynchburg-the writer sums up as
follows:
The canal west Of this city, the dock and
mower at this city, might ali be sold sepa-
rately. and a sufficient amount realized to
nav the debts OF the company, and probably
save the canal between this city and Rich
montl to the State. But such result can
oniy be accomplished by the intelligent ana
united action OF the bondholders.
BoNDHoLDER.
This anonymous article would be OF little
significance, except that it is repetition OF
what has been whispered and written IN
many directions, and that it has been
widely represented that public sentiment
could be educated to the point OF allowing
a severance OF the canal property. 1t IS
hest TO be frank and very plain.
We have spoken in jest and seriously
about the poor old canal, and we have said
and still say that II anY scheme could accom-
plish the substitution of 4 railroad for Its
broken works it should have our hearty sup
port and might expect an almost unanimous
public favor; but we have never SAID that
this great and really bepeticent Work shoula
be cut up and sold pieccmeal to tie hiShest
bidder. We have never said and no we'll
informed man ever dreamed that the city OF
Richmond would lend herself to project
of SEVERN. the docks from the canal and
imperilling the franchise; and while any
complaint or claim OF the creditors Will no
doubt receive that fair and prompt conslde-
ration that our courts always give, the
courts will not become the instruments OF a
scheme to destroy a precious franchise ana
to place people who are dependent Tor an
outlet upon the maintenance OF this line at
the mercy of such project as is indicated
in the article above referred 10.
For more than generation the State and
other stockholders have received nothing
from this company. Everything 1t could
earn has gone to its creditors. Again and
again this city and the State have come 10
its rescue. Money, labor, exemption from
taxation, and privileges and franchises
utterly without parallel, have been given 1t.
The city and State have given until they
can give no more, and now they are ready
in the same spirit IN which they treated with
the Chesapeake and Ohio, the Atlantic, Mis-
sissipri and Ohio, and other roads to meet
generously with any who will use these
works to advance the public interest. The
State gave the Chesapeake and ONO, Tor
instance, its expenditure of six millions
anon condition that it should complete
railroad upon the exact plan OF her great
engineer; but until this was done not one
dollar was vested A combination to wreck
the canal is one thing; movement to Dulld
railroad in its place is quite different
thing, The one need not expect public
sympathy; the other will have it without
measure.
We have expressed an earnest hope that
the Richmond and Allegheny Railroad
Company would bring the long-eXpected
relief. They have already entered the field
Their engineers are preparing careful esti-
mates. Strong men, and such men as this
community would welcome with one ac'
cord, are considering the project, and we
are advised, il the representations made to
them prove true, are ready to undertake
this great work. The Legislature, at the
last session, gave them charter OF unusual
powers; and we await anSiously the result
of the Investigations now going on. Ii
these men shall undertake this work upon
the plan that has been outlined to Us they
will receive such sympathy as Virginia and
Vireinians know how to give. We do not
believe that any man in the canal company
or in the State would counsel any yexatious
course.
This community and the whole country
from Henrico 10 Allegheny want to keep
the canal until they get railroad. They
want to have the canal made available to Sc
cure the railroad. They want railroad
built with the least possible expense, and
with the least possible delay. They want
road built and managed on business princi-
pies that shall have no foes and no comblna-
tons: that shall be in its true sense trunk
line that shall give and receive freely to and
from its branches. We don't want road
burdened with any siXty-or-eighty-thou-
sand-dollars-a-mile debt, but we want che
so free and strong that it can aid in the
largest sense the development OF this valley.
1t is not well to treat lightly public opin-
ion the same power that with breath
would sweep away the careful plans OF tie
wicked would make quick and easy the
of the purpose of the public
benefactor. And we do not believe that
man is either the friend Of the bondholder
or the public who suggests impossible and
schemes. Let the Richmond and