The Covington and Ohio Railroad.
A bill has been reported by the Committee of Finance to enable the contractors on this great work to continue operations. Under the present condition of financial affairs, some relief is indispensable for this purpose. The best interests of Virginia, financially and politically, urges the completion, with as little delay as possible, of this chain which is to bind the East and West in a commercial alliance. Dissolve the Union, do what we may yet a link through Virginia to the teaming West must command and control a commerce of inestimable value — a trade whose course will thus be directed by those immutable laws of nature which man cannot controvert.It is not proper that in the present unsettled state of national affairs we should entirely overlook our State interests. It is not probable that any event will occur that will suspend our enterprises for any length of time.--By no means, as long as we can avoid it, should this great Covington and Ohio Railroad be permitted to pause. One involving so deeply the future greatness and prosperity of Virginia, should not stop as long as there is a copper available for its continuation.
When the contracts were made for the building of this great work, State bonds were at 95 to 97 cents, and there was no apprehension that they would fall below those rates. Contractors then agreed to receive them at par, and put in their bids at cash prices. These bonds are now reduced to such low rates that contractors must be ruined unless the Legislature extends them some assistance. This they can do without any loss to the State; while, if this is not done, the work must stop and the State sustain incalculable injury by the dilapidation of the work already done.
There is another consequence which appeals strongly to the humanity of all. The suspension of the work throws out of employment some six thousand persons, who have been induced to go to the mountains, and who will be without the common necessaries of life, thrown upon a community illy able to sustain them.
These considerations, we trust, will incline the Legislature willingly and liberally to give the necessary relief to the contractors.
