The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-01-11
.s25.s97,ooo 90
9,903.G75 90
35,300.675 so
d duct income. e,9I2.2OO 80
Interest j llisycars 6,l49,41S %
ls,061.61s SO

- = ..-' i3.-. 35,soo,675 80
Interest llllyears s,l4e,4Is %
--- 13,061.61s so
.;....; ,s:j .ae%y. @a3s.ar 2o,9s9,o57 .s
Is it true that this investment Of the State
that was made with sucl, high hopes; that
tempted over 81 900, 900 Of private capital;
that was so full OF promise that the Legis-
lature in the net OF incorporation declared
that the dividends should never exceed
fifteen per cent, has actually cost the tax
payers Of this State more than half million
dollars year, and the cost Of construction
remains unpaid, and the schedule OF debts
in. default exceed S1,900,000, not one dollar
of which was for construction Pardon
my directness, but it is no time for glitter
ing generalities. Is this thing OF value
Is it not burden crushing the shoulders
that now attempt to carry its Were not the
comparative tables gave you fill Of serious
meaning? .p.....,&, .rEL .a1
But there are others, more serious, that
wish to prevent. IL. 1t is hard to tell the
cost Of this property, it is harder to tell what
Forty years ago the wealth and hopes Of
| this State were centred largely on James
river. How to develop this valley and make
| it available was the question most anxiously
considered. After long debate it was deter
mined to surrender it to the great water
| line. No territory has ever; been more care
lfu1iy guarded. The Central railroad was
| sent to the pines on the north, the Southside
through the pines on the south. Money
that is untold; legislation that fills twenty
Gets was given it.; and lthe result con-
fronts us. rfai .!....,fi. ~ ,.,<.a...! i
In estimating this cost I. .fnd that every
county through which this line passes, save
Rockbfidge and the counties touched by
| railroads, has not only >,n.-.. ~. .s6 81
| -,H,s52'l LOST IN WEALTH '' d"
but actually in population between 1880
and 1870, and the census OF 1880 will tell q
! sadder story. But not only this, at tue same
iitime like debate was held in New York
and one in Pennsyyania, with different
decision. In the former it was agreed to
have railroad and a canal; in the latter to
Substitute railroad for canal. Let us for
a moment compare the RESULTS: Upon the
fJamcs River and KanaWha canal there are
fourteen counties; on the. New York Cen
I trail, fifteen counties; on the Pennsylvania
traiiroad, seventeen Counties. The results
4 tarc given in the following statement: ?
p The length Of the james. Riyer, and. Ka-
Ena#ha canal f7s go miles; OF the New York
Z central. 's9S pffes; of the, ,Pennsylyania
"The 7,aisstiopi ioi the counties aonn on tie ca
nal is sSg,48s, ,eSS; on. tie New, York Cen
s5;lsoss ss sSs| |slssss; g. tas Rsan'slyan''
21Have opeGed mines and bdilti towns, they
have not benefited the farmers. Let is see
il there ftis Been any costs here. =.
1E, The, valuation OF farms on the canal is
Il s37, ,6e5 ,87a; or the New York Central,
II 1891, ,al4,4 land the hnnual value OF farm
'bproducts; on the cauaEis is 'SS,171 ,214, and on
1Ghe New York Central, $40, 12S, 1886. : ,fol
d, IL has been objected ithat'it only has ben:
Gifted few, and yet l find that while;
+ j. G,9 :, TUE roPVItATiooS mas INCREASED ~
i on both Of these lines about 100 per ccsnt.
the wealthIha increased 500 per cent. ~
4 The. ratio OF increase ON the NewYo orB
! Central would ilIayeiadded to the values on
i James river $3.50, 1000, 900; thaton the Penn
4 sylyania railroad would have added $780,
4 900, 900. The total valuation offVire1nsa i
S4O9. .5sS, 133.,5 5t 1850, nc.t :. s"L1
= These calculations of values only go back
Twenty wears. TO go back forty years
would give even more startling results.
! But no words can add to or diminish the
4 fearful import OF these tables. atsa ~" :
III This artery has not been the life-tide; tho
doors have closed again; the apples are al
Il ashes. iGi a:ijis.f Fist" leiGsi .ai- L''""
A dDilhud;if the gentIeman isjdeceiyed1 i would
! undeceipe hinhJii Thes gentlemen who 'stand
); ready Itoxundertake this enterprise have de
Il cided Ito do so noniy upon the urgent pre-
sentationlof the e3merits Of the project, and
tao4 4HEi III Assurance sURl sIppE 1S Goop' lIrH
Iffhatt tbeyt Would be met in a frank and COR
dial spirit, hey have rejected every sug
i gestion to ,sRecu late in the depreeiate q, se
Y curihes Of thfs company; they haye agreef
Ito aeontraet that the tlhls malerityf foi business
4 men would ,cepdemp,o There arsi burden
Some some cord ditiops, ina a some (which seen
: tuiIhnscessarys,1 IT, the case iss to he qepapef
7 they would, erhaps. suggest fnanTS bsnaes
i For myself, II, would say that my rs I'll
u bas, Been bfak ftn thu efostto secure thl:
'lagreemsn II haEe mo heart te. renew ne
Il iafiaps upon any pther basiss lIg ,9.I /.
Y The people on James river biK haKe sbsea tQQns
! tthnough led upon false hones, /, IT. tAisa un
i IdieEalI iha difficult bcfs umstancesais Is Agf
ftnroper m oltract, iL seems to- me p'
\ Rejected, and some ot her plan adep Ib
, if were to say thai our party would no
execute contract changed in any taateria
4 bart ffI6tIi TINT agrsed upon might he mis-
ttIlnders md stood hut j ae say that, I rhaye. q,
sfiaatiftiority te consent To any materi change
!, land do mol expect apyy. do not kpoT ina
tIe y9eniGt hgls fAi,ss's
pET8AT WITH n AZ II ifH = ONE
u and en- penaltiasi pruposed iayen tkae tsIile
II Issnfsfivso of Richmond, but II would not D
tust 10 place the impefilled fortunes oa mel