Year: 1878

slower Eoats were used fhan such as are now
proposed to be employed, the Beard OF Pub
lie Works Il uttered mn word OF dis
lapprobation sor discomfort. Now, how
ever, the State authorities seem to
indicate an 0ppoaitiops based not so
much, as might reasonably be inferred
from your questions, upon the, character OF
the service and connections between Guam
tfco and Washington as upon the residence
OF the parties who have directed it; as IL
the latter was not only, q material, but the
most material considerations. hope l may
be permitted to gay that il the proposed
policy is good, it is not made bad by the
fact that those directing it reside in Phila-
delphia or London. III the policy be bad,
1t is not made worse by such residence.
8 Virginia, by her laws a, well as by the
desire OF her people, invites foreign capi-
tai to invest in her works OF Internal Im-
proyement or other domestic enterprises.
But surely 1t is not a condition of this
invitation that q majority in interest shall
not govern in the conduct OF the business.
Human experience has found that it is
safest and best to entrust the government
OF railroads and other kindred works to
those who are most interested pecuniariy
in their successful operation, and to adhere
to the rule even though there may be in
stances shown where the majority OF the
stock has made mistakes. Hence believe
it has been universally understood that
each railroad in this State has, through its
own governing body, the right to make
connections satisfactory to itself, without
any interference from the Board OF Public
Works. Not only the railroads beginning
or terminating in Richmond, but those To-
Gated elsewhere, have exercised and are
now exercising this right at points Of COM
petition without interference. 1t is safer
to rely upon the interest which majority
of the stock has in the profits OF q road,
that the power of direction will be exer-
cised advantageously, than to depend upon
the Board Of Public Works, however wise
and patriotic its members may be.
And in the particular case in hand.
without enlarging upon the advantage
which a double line gives to this COM
pany in enabling it to use either as q
check against imposition or eXaction, may [
not be permitted to say that there are so
many reasons that can be given why pas
sengers, especially those from distant points,
covered with the dust and cramped by the
constraint of railroad travel, would prefer
the accommodations and conyeniences fur
nished by boat-iine Of two hours run,
without any material loss Of time or danger
to connections, that an interference with
the well-considered views OF the over
whelming majority in interest, which has
given this opportunity OF choice, is OF more
than doubtful proprety, even il the right
be fully conceded?


Your letter, though it relates to what I
conceive to be business matters alone, ap-
peared almost as soon in the public newspa-
per rs saw it IN manuscript. Though this
is somewhat unusual do not complain. I
will follow your example and give to the
press copy on the same day this letter is
forwarded to you.


Very respectfully, your ebedient servant,
ROBERT OULD,


President Richmond. Fredericksburg and


Potomac Railroad Company.