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,'.rn- iotk i mater;; ly . . n e ice a ofFW
.mi l ie j'ir.t'r. In i. , f.ii
(
r full T snpportrt
however, it i-
4 , r m,rlk,'t )' ' ' ,n a very wn:;' i
Tiicre i no V
tQt lew n!ri.
j Tl Zwn ff Cnfj ar P'ii iutn fS Rink a Jar or t
rt Urred lf Reol,inn r U.e ' !, rrctins the Cccm lo pij
t jf iwn nie lor Uiroun?, in! i r, r. no more tho J pr
Tot for cUcki iipoa Ihe NurDu In s ' '.t.. , i ) thii, e are ure.l.
nil io no insuuce tcetn? memura - i. of Sfockholden in
.'inairy .utt; tiM t rtc-i-- ! r ,r pjjm, of iu nolet beta-rtfaed.
j re l&erriore fmphlu ;. , A :,ll!nt pjmj L'anJl-5. ... .
(Mil tbt ffowth of t-ntnbrrton. were
'-n lit fli.a nlwal..! uW
r 8 lb r.d a Turnin weMnr 6 ftn
I re, ntea to he Editor, lut eft. the
KobeaiMi County
;jrmf by Dr, Fopf irnl the Utter by Col. Neil Buie, both of Kol
I ' ySI IT iten It w aot to ftttenVy knovn m h wifftt to be,
;bt powiWred attiair puawwea tha frapeny of purifiq waters A Urje uble
Spoonful of pulverised alamn, aprinklcd into a biLd of water, (the wMer
tire4 brUklr round at the tima.) will after tbe Utm of a few hoar. h nro.
Viplutinif to the bottom th irapura paHiclea.1 pnrify It, tlit It wiU bt found to
i ocmny an me tretuneNi Boa eieamoia or hnt prm witer, A pmilful,
h(r tou (allona, my br puriiUd by a'ainple tea apoonfuC TbU kfor.
ulion ia. obviouttv. But without lU alu in London.
.... .. i . , m .
I I 4. t.'.
. is! '.i :
A r-
; REPORT:
Of the pfjreirnfativt on behalf of th$ Slatf, at tht mating of lAr
i St '.."", . i aw J . w
The ReDreschtatives of the Slate, at the tenerai meelinz of i the
yockheltler of the Bank pf Cape Fear, at W ilmington,; on the 7th of
anuafy, 1828, te vlinnj, dj a reanlu ion 01 the Uenrral Aaaemblj, to
ar as the State wai iriterestetl; was aubroitted the question, whether it
oulj be expedient r inexpedient to surrender t.hc chaftiT?" respects
Mr aubmit the following Report: '-Youi4 Kepresentalives, after an ex-
nlnation of the state & condition ot the Dank; canie to the eoticlttaiott,
atitwasinexpecieot to aurrenderthe Charter, on the irround tliatthe in
itution was sound, that the other Banks, and the citixens ot the State
nertllji would be ieriouslf and Injurious) affected bj such a course
a the part or the, Dank ol (Jape rear, and that the Stock at present
oulu not be art vantagenusiy transterred, 1 he able expose ot ita stttta
ion, submitted bjr the President, led, however, to a conviction th-t its
utiire operatioaa must be attended with.some'difFtcuIty, owing, in
art, to a large debt due to the United States', Bank,.and the peculiar
ircumstancea under which the payment has been pressed. The cooi-
iandin attitude nf this institution, in relation to the Cape Fear Bank,
iid not fail to arrest h attention of your Representative?, and had its
ue influence in inducing an acquieseace on their part to t lie annexed
leport, in which het have given to the tockholderft :an assurance that
Jiey Will recommend to the Legislature tho repeal of the law -which
mpoaes li tax of tint! per tent, an their capital stock. This concession,
n the part of your Bepresenjative,"ai rather the effect of cbmprov
Tiise than of choice, beTrevjng, as thev did, that it would bo better for
.lie interest of tho State, and eswciaflt of the oeonle. onder their ore-
lent difficulties and embarrassments whose s interest and' welfare it is
.he duty of the State to protect and. promote,' to-- aurrender this tax,
than to risk ithe consequences of a surrender of th Charter; ons the
nher Banks of the State; to which the State and the citizens generally
ire largely interested.; s ine uanit oj uaoe rear, from jts commence
nrnt an to' thi merlins'" have had at all times so much' naner in circu
iation as to render specitf paymentsi for thejV most" partr Inconvenienti
indis sachVihey too often nave beeii iyivbided.Tu'ritiiaiedthi
State Purchased Stock to a larje amou'nt,nd thereby participated- in
dividends which .otherwise couid not liavei been .made. The, Charter
was a pledge to the comraunitt that the' Bank of Cape Fear would pay
peci4 fot ita notes. The people complained, and looked to the Legis
ature for a remedy: but,; instead of correcting the mischief, the State
jecame,a partner ia speculation oh, jti i titbiens pot sanctioned by
W, nor dictated bf sound policy ; Our first hotiona of right and wrong
joint to the necessity of pnncttlvulinntv,nf 'a promise. Social
jrder, morals and religion depend on itM IWhen itno" State is,1 deeply
Ioncerncu in a corporation, wuici uas ntu unsuircticu ii vuntciua,
ioiated tfie force and 'tibli&afibn bf promirfes. by throwing ihto circuli
jtoii a currency subject to a considerable discount the inquiry .becomes
jnportant, can mat state, Tiowever repuoncan, reiernng to iu, vonsu
SiUoh, stand high ith Us citizeni dr Us i'ier States? VAfter we had
)ecome familiar with the argument esed in arid out of 'the Legislature,
n some distinsoished men, that "nr local IJUnks ctfuld not. pay Bpecie",
tidhad Smarto I for years nnder the consequetice wa were prepared
ore te.aiUl j t . sanction a report;"which gave on tbe1 part of the tYesi
cnt aml Directors the 'first positive pledgeithat the Bank, bf Cape
' uu'u oecome lorinwua a specie paying m vc?ponivn
,i orded byheipresideniiarted copfidenco to. tl6' assurance; and
.fierdae. aeliberatidri.'Vbur Renresentotives came itottheTcohcluaion
latt jVQuM nbjibe incohsistant with their duty or instroctions to re
' wraend the rcneal itf the lawreviouslv alluded toYrfy'l
1 Thepaner of the 'Bank of the tTniVed... Sta'teaT will,wjit all' times, as
Vspecta remote circulation: command " preference over tfiat of the
wai Bank hencf a more frequent.rfeturn bf the bills' of 'the fatten : is
be anticipated andprovided for'? This, inconvenience Is incident to
'r organization,' and cannotV.be remedied4 las. which, Superadd a
Xef bnertef -pntLindit IM nrodiirftultimatelv too areata difference
HweeY j'ocal ta"nd United'. 'States' 8tbck.V Stockholders, liket, othei
rv"ii)uiui, tiieir interest, any wij uuu icn,ui u(jivmvi isifi
JWU. .We are not insensihle of tlirVimDolicy of remote speculitioi
1 Subieets whichare beat understood "br practical ' results; butJcon
'mpiating tac issue suDtinuni oy tnc jjiaitv we coum uwuncn vur
'ves of those- feelings peculiar to us a' cUizens of North Carolina,
'e have ever been sensibl .of the magnitude of the, grant of the
arse and (he iwbrd tothelGeherar Coyernment, and have looked lo
"'"State 8Bvereignties"not' withbutTapprehensioo, as th main pillars
wntch it cart saiir rest. A wnttea states iapit, wieiumgiue r-
... . .' . .. : . j ..... . f ? " vtl .... .L.
w: a f ln , . ;
' iHe wetektar.
"it f Kf m, be y T ,.
e invite I rr c. , '. r a i
tt? rr. Ui,
.rtawyift? .4 ".. 1, 13 ;,
c ' :i i- i v i nittj K-i
' t ptjir j IUi.V;at.J t. t
- i.pl, ti e ttx ,!l te tkea t.3. !
rrtii of llie State rt.oie eCrCMrly
f' in its rnntinui- re, snJrr preaei.t
income so larj- I-'errtted in t'.ii.
i t
.ulr
i'in t J rrioartr, t f ; r
I io ihe L'oion. Thr f
' t a tr:noi!:..
a ii,rrrfv't K
Ctiden!i, Di,l I
a.u...i.ut they commence io u
Sacb a covrae will f - .rt tr i
than my feentf.ts ta n trr.
circu ntaares;and il, r
m well as ihe other IUi.k. ;
hole Baakiej capital of the
iTvouia pay strict attrf ,,n ta
IhoseinstituiionindBni.! State V.n
r .v7 r"c '""M si.aii r r J, or unt inetmer.t
t will be h, r in.!,.rnuble duiy. a, a. her interest, to attend to
thejudioo : .1 f,,i,rl raanajemeotot (He intitunoiia. Yr t!.
preseninn are l.lr convinrrd thsf iK
a . t - i , - i, in muiiniL in f ii V on VI
Cliraitt; 01 ruiV: ( arufiua. in her rif nlrur.1 ....a;l.l i..: ...
that prevent ; raymmta.. Iformatiim, 0,ien, is urc ssarv. Jt
4.uoRrauuai; 4UJ, to attain Its td.on:t. the i, ,ut
aucted by an at,!o and Wilful hand. We have been too i,r amud
witn the political quackery, that in our northern relations tbe balance
hit tl
- . i
,t
r r
J tb-
Cheto-
Tarate
te. ll.tt it it
to
y nrceoary t!t
i'l prt.mot the inierr it f
.'.I be eatal!ihed, or the
: i -
tJ"gt us, which so perplexes our Banks, they cannot pay
specie. rhe foundation of the mi5thief as the iasuir.c too much ta-
r.uumaaing too. large d.v.dends. Forbearance and self denial.
vvuucvun, win mn awe auiniiH,tratioo, is the only remedy; Lay the
hlalMlaa! S M1 a Maai n A .- I . 1 I a . . J
a, vhi v"M WU1IV. iPfP II UPinnsTt.' imk rtnl 1 1. . ..I ad aa
thern neiglrurs, ; When we are unable to pay; they ill be unwilling
to sell, Aa soon as the intercourse proves unprofitable, we shall be
quick aighted and stout hearted enough to break, up the contern.
there la nothimr more delaaiva than tha Kalni .J ir.t. . i. .itw.
Huctations, it seldom entrenches bn tha Credit (if 4nt-tHirat. filial np !n.
dividaala who act prudently.; , . v - t .
a general peace establishment, after such long and continued wars,
has found our. Banks and our citizen with t. mnrh mnrr H..i
The calamity is general; the forbearance and wisdom of all is required
t ", "? re,,.er 1 &e" ni'y. to witness the successful efforts
of the Bank of Cape Feat- to become a specie pay ing Bank, and te con
tribute, thus far, io the introduction of a aouod currency, has induced
your Representatives, with much deference, to recommend the repeal
of the law before referred to. and a severe oe'naltr for a nonrouir.li
ante with that provision in their Charter, requiring specie payments
Voor Representatives are not, nor ever have been interested, directly,
or indirectly,-in flie Banking institutioris'of the State; and in giving
weir vote, on oehalf or the State aramat a di&suilmiun ..f tl I'hi rr
Bank, at the time they did, they were not influenced by any motives
of partiality for Banks, on principler'nor' did they intend o express
any desire for their continaati in in the 8tates hot acted under an Innrv.
tension of the effects which a contrary course would have unou the
nmer institutions in the State, in which the State is so deeply iuter
estedand of the embarrassing consequences 'to the1 citixens, ol .the
ttei generally, at this time. . On the other hand, had the .movement
been a simultaneous one, on the part of all the Banks of the State, ' to
surrender their Charters, thereby affordinitothe Lesislalure an onnor
tunny of establishing a State Bank upon different principles, and taking
-.Miic airps w meet me emergency on Dehalt o the people ot the state,
your Representatives might have entertained a wry different opinion
in relation to the question submitted to them. ' The report of the se
veral committees, herewith annexed,' with respect to the condition of
00 C, U 00 i
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the Bank of Cape Fear, we pray .may be considered as a part of this
report,. , , " ' k; y ' v- -1 ?X .v ' ' ' l" rf
, All bf wh'icb urespectfuUy iubmitted. - .U " v ! " '
LOUIS D. WILSON.
ISAAC VVIilGlir,
JNO. A. HIM.. .
The committee to whom was referred a 'consideration of the call of
tha Stockholders, tbe expediency or inexpediency bf surrendering the
Charter, and other purposes, as pointed out by the resolution, report,
that they fully approve the call of the Stockholders, and although a tern
pnrary depreciation of Cape ; Fear note may have been ' occasioned
inereoy, vetine oDject ot the call was of' paramount Consideration, and
the complete and Satisfactory investigation, irtsulting 'therefrom," Can
not fail to establish the credit and reputation,, of. tbe Bank of Cape
Feari . 4," , . . rhy ;f '"' "
. Y.our committee state that the valuable funds correspond with the
official, expose, and they unequivocally declare that the institution it
sound and equal to specie payments- - !.:, .. j, , ?l v : -j
1 1 our committee need not distinguish between the soundness of a
Bank and ita profitable operations; but after full "Weight to "the strong
expression of the State, and. the confidence 'they feij thaty from the
report ol the Kepresentatires ot tbe State to ' the Lexulafure", the in.
stitution will be relieved from the tax; and from a regard (0 the embar
rassments of the community.as well as to the interests of the Stock
holder your; committee wodld recommend that it. is inexpedient to
surrender tho Charter , . . ; ,,,. x r . -
'Tour t-.nmmiltae alsA. rrnort that. tlii dn . nnt dmibt hlirfhat -tho
flank of the United States will accede to- the wishes of 'the Bank .of
vape Fear, it not to their full extent; at least with aume trifling tnodt-
hcation; and that therefore the existing difficulty should, not becQnsi
dered a a clog to the main question.' vvi WA f J
As to the future operations of the Rank, arferredtoT theReso
lution, your committee report, that they, are aware ot the, risks, to
vvnicn me insutuiioti must ue suoiectea in the present state' ol tlumrs.
but are of opinion that such, matters, as well as yie tate of Dividend,
-i l.t-k..!...-. c. .1 - .1 1. 1 .1: .. . r .1. t r' . . . . . b-. . .
iiiouiuue uesi conuueu ij me uiacrenun i ue uiieciwry ; -j
i t: -. . ROBKRT: DONILDSOXI
v' J I v ' F- u- 8HUMAN. ,
t v H LOtJlS BvJWILSON,
JOHN A. HILL. ft,
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t utoctccviii.i'.ttr-.was "rted
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:e s . -ct committee
i n i;a much of the
tj as re!ars to
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- The subscribers. It Coriimittee of the Stockholders of 'tl? Bank of
1 I'ciraA ISaifta n nit n f oH tn nunt IhaV r:ith nnrc lit t niti(nA nrtil M.Vtv.ascb
luie details, and otherwise to satisfy ourselves of the accuracy and par
I ticulars as set forth, and to take intA con'nleratiou 'the "debts due to
flrces and backedy thf tnflBehc nd credit- of Mi Nation, with
rnchea coexttliire with the" Union Ter wliicb,J;he . Legislature of
' State's haveo eontroul. wUhoaU
lho"t comoetition.!
irous to liberty: ' It would "create1 '. a current, unless counteracted,
j ij to jeoperdisi State rights.":, sjommerce nas too long aenvea 1
( 'ilies from banking institutions to meet the irifficalty. by saying there
j be no such 'JBankTna change ot sentiment produced.-m that
I tinguishecrxivilian James Madison, was forced upon him byhecea
j i;ty a necessity that wiU perhnps ver. exist, and settles the question,
?e apprehend, as regards its nermaneriey. North Carolina, in' this
Tiew,;iiouiduooK to her local uanns wuu some degree 01
pcttMeyK'CoinsetkronB 'ITie ' life and soul o imlusiry.,; we view
uanK, in reianon m . Biouieu conecrna, iihiwi.jt-V'w..iij.
' wonld, Ii ro!iricS4 one nress. Her 'innnied Institutions must -have
ri1 7ifluM- in iIib rrti-tnYi,f4 vhsr..f or: in r-ivino- inmulse. to iitt
W , and industry ,'and in bringing into action her various and ex
'uis'ti iciottrces.' Ta realise inert speediljr racli important objects,
the Bank f as reported good,'. doubtful,' and bad, at. all ihefficesre;
orf,'thatwe found, the cash already counted, 8e4fi.rsignedbyjhf
irectors of the Bank; tat we took an account of ffie'sealed packages,
having satisfied ourselves of their accuracy, by ppeniug and' counting
several of them? and that we found the. aggregate, to agt.ee with tho
sum stated to be on hand at Bank,' and as exists in the expose herewith
rendered. i:' A'-& ''&-T?i'. '.f 'Vf
;ft' We ,ls,d compared the diflerebt items in the state, of the Bank 5 wfth
the Books, BilU and Notes discounted and other jouchers, and found
them to correspomL v''; $X&(t$j?f-p,s i - ZWV
As regards those items iu the expose', taken; from the accounts bf th"
AgencieSrWe were'goycrned by the statements certified by their re
spective Directories.-nThat in discharging the duty bf considering the
debt to, the ank tinder the severalVtharactcri'of.opay, davbtful, and
bad? we1 were guided by the classification and ; repertw' of ; the officer
and JJirectorsr ot the Uank ana its Agencies, an aggregate ami sjiecin
ay
cation bf wbieh i .hereunto ubjwnf(l.':;&V'"-.i5 t-tl "
Slate of tlie.Bar(k'A.::j-;klWf;' i,'i'- 1 ;
Statement of MS.T.p
, in vtIil'Ii.iiu , .
MrANDUttsON't-
JOHN WOOSTER.
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Luislatnro of N, Carolina.
v. C SENATE. ,, Thunduy Nov!&'
i, The engrossed bilf to alter the time'snd places of 'holdin? the e'.
lection in Greene countypassed ils eeveral readings and was ordered to
be enrolled. ' . 14 s ' fr ,vlV .
. A messago from the other House, transmitting a memorial of the
jtascarora nation of Indians, with .a proposition Uiat it b r.yl to
a aelect joint Committee, consisting,- on, their part, of' MessrsyVry,
Bynum, Spruill, Wlvooii tind Pierce; which proportion was 'agreed
to. ana Messrs. niuumi 01 Martin, Mathews, Joiner, Bell and Bod
diewere appointed the committee on the nart of the Senate. ':.
A'Mr. Meares presented a bill to regulate the emancipation of slaves;
which was read the firstJLime. passed and referred to ti'w jfp5iittee
onitheJudicisry; ; . : " t tTlF
I prrnotioii of Mr.' .M'Dearmid, the committee on Vacant and Un
appropriated Lands,' Were instructed to inquire into the expediency of
so emending and altering tho existing law concerning, the eritrt ofJra-1
cant swamp ami marsii units in this State, as to authorise en try -takers!
ui.ieu-ive eniues wnere mere is no 1 a greater quantity Uafl t40 acres
vacant in any one swanib. ' t - . -. . -V .. i;'c"' ,' y.
r' Mr- !"i'ler, fimn the committee appointed to' conduct the balloting
cancy occasioned by the death of Partlett yacy, .ppeara, ;wa quali
fied, and took bis teaf.r iVi . . f " , I u
On motidn of Mr. Wellborn, the nam of Mom" forjUStbkc. Ivaa witk
drawn from the nomination for Senator in Cepjres. ' ; f
1 im committee
- t (lie balloting
Miirat hiui,i..i
thitl'.or.ml,,; M. SaunderawiIulT "
elected. . Concurred i . -r.
'Sir. Ward presented th f.
lowin resi.Sution. whirh n-.' ....1
and laid on tha table: ' .
Vhcifis the mntiinl.citt f KuV
Jiness ia the Tretsurer-'a ihti
Comptroller' depart lu-nta ecnd.r
v- I 'convenie-1 t niuke their
' et'!, - ent.1. ei nrrwnl.,i
by toeactott (; . .eral Assem
bly of 1? ir, .iurii... the sittini or
the l.e;i,'. turc: I hereft,re hi, it
' Thit ha Biontlilvf ..nL1:
niuiiu t 1 "iheTr.-rtsur"? and rnmM. '
required by tbe irt of 18-7. k
UipenJcd durii - t!-,o sittlnrr at :
Legislature. ' . . . "
ihe bul to altir ii r,m.
Andrew J.rerrv, of J'ertie, and t6
legitimate him. vaa amended, on
the motions of Messrs. Wilson'
aiiti .-iicraiu. uy exUntln
vi-" .ms to BePMml'i K,
' C, rend.-r, !' " '
111 . ..Ml... II.. ! ... I ...
Thii said bill tla.i r id hi
third time, passe .', r ! (iJoredto f
Be engrossed. v ,
On motion of I'.r. .TFarland,'
thpvcorrJmittee.tiu . Infernal Im- y
provemenfs wfrtnuthnrised to .
examine into the practicability f .
causing a survey lor a canal rom
the nearest and most convenient
point of. Lumber river to the V
nearest and rtiost'cohvn ntpoint r!
of Capo Fear River; whidi surrey
hall bo made tho ensuing year1 "
by, tho Civil l:;.0ineer of the '
State; and tint he repoft the .ro, .
bable cost-of - said .canal ( the
next Legislature. , f : ,
i. vi. ,. . Saturday, S'ov, . '. ' ' .;
-' Mr;4 Shober, from the comujif.
tee of Tfopositions and Grcivan- .
ceS,, .reported ut. favorably to tV
petition cf John Millwee.ofMeckW
lenburg. - Tlie report was read ? ,
and, on motion of Mr Darldtotf,
I nd oa the table. ' ' :; -
, Mr. Sliobcr also reported" unffo '''"C
vorabljf to the petition of Joseph
Banks, of Pasquotank; whicli re " '
port waseo'nctirrea in.- - ;, i , w.
' 'Mr. Shober, fiora tlioiatnl cbmv-'-initteev
reported tf bill t. restore ';'-..
William Ferrelf,. of Montgomery, 4
to credit; which was read the firaf .
time-ahd passed.'V; fVi$iAJ:
"Mr.-- Deberry presented a bill lo: '
amend the lawstregulatingh aTix :
of land and slaves, so far :as re- 1
spects the county or Montgomery;',';
whicli was read the first time and
pas8ed.-''-j.'i;;iji,!i:i, VhV' '
,Mr. Ward presented .a bill to"
alter and amend the act of 1 &2T, "
concerning the' Public 'Treasury;
which was amend" -t on motion of v
Mr, Scott, read first, second i
and third times, 'passed, and or
dered ,' to be engrossed. r y ; ; ;';. .
On motion' of Mr. Parker, tfio, ' ;
Judiciary committee were instruct-
ed to inquire into the expediency of '. '
amending or, explaining - the laws ,
regarding dowers as fan as rea '
pects the amount' of, costi tb bo '
taxed, and by whom ' to be paid. ?
' tMr.,Mcbane, from the ebmmit '
tea on Internal Improvement., v
reported the bill to provide for tlie
draining bf Mattamuskeet AAf
Mf.ffl..... amft..U.4l. 4.L.. ! -
TT IlllUUft .'..UUUIIICHftft WHCII t
bill was made the ord
for Moii. lay nes;
it. r;3i-ZSrj-'' Uizana-of Xnsoa " j
uFy. Dravina for the puasaseof
f law vesting in the, people of said. ; t - t
county tne rigui vi oiecnog srerij, -and
field officers; which Wei refer-i :
red to the select Joinr committee .
tr whom was fkrred the renolu---' r
tion relative to tha ap;ioinfment of
8herU&. ' ' ..."
A:
3'
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