li
, ?*^ /• •-.-j,sf- * ^ ^ xafl
“ ;>wcrs granted wider the Constitution, being derived from the People of the United dilates, mail be m
,vm,j be^esumedb,j them, whenever pereerted to their injury or oppressinn--Madieon.
T
CHARLOTTE, N C, JANUARY 3, 1843^
S NUMBER 93
i:iHTi:l>, AN!) PUIU.ISlIKn WF.KKI.V, I!Y
T j: U M S :
1 U'"' ^irr'ldcn'nirn; Jc/Tcrdonian'^ is {)nblishcu weekly, a
and I'lf'u if prtiil in advancc; or 'IVirce
’ ’ //T.', if not InJore the rxj)ir;itiou of thrke iioxTifs
y'l osn thotiin - i^r s:li)sr'ril)in^^ Any person who will procure
rs 'in:! In com'? responsihle lor their subscriptions,
iM li iVi- ri cojiy of the {):ipcr gratis ;—or, a rluh of ten sul)-
^-I ;!)cr-nriy Ji:tVC tiic p.ipi-r one year fur Tu'cnty Dollars in
n l\
No p-p- r Will iH^ (l;scontinu.-\l wliilr' tlie subscriber owes any
tair;'.', if !i. is a!,!c to payaud a failure to iiof.fy the IMitor
oi a wt.sh t I (hsirvjntinuc- at least onk .month lu lbrc theexpira-
'i')n )f the time paul tor, will i)0 c-.iusi'U n;d a new engagement.
( ?r: innl Subscrii). rs will not be all'iwed to discontinue tlic
pn; r (•; fore t!i»' ^xjiiration oi thu Tir-'t year without i)avingfur
a f*'l yjar\' .subs-'rij,tion.
A /rcrf^ .cm-' /i's will be f’:'r.^p:ciiO'.is!y an I correctly insert-
ril a' f).ir 7/w.7^'r per square for flu‘lir.^t inst rtioji, and Ticcn-
tj t-'c - i-• lor Laeii C!>iifinu'iuee—ex’-pt T'ourt and other
j 1 ■; tl a lvirti.st incuts, which w.ii be cliar;^(id tictnly-Jiveper
r lii:r!i"r tha.i the above rates, (owiut,^ to the delay, gcae-
-a.iy, att. f! laiU upon colh-ctiinih). A li!)f ral di^:count will be
i:ri !«• r ) tiiu.-,c wh ' advcrtiso l.y rho year. Advertisements sent
!i iijr };u.)i!( .u.u.i, must b(! marked witli the number of uiser-
iiwH.', lu.’.-.ifij, ‘■’r they will be publi.slied until forbid and chary
al acror;HnLi;Iy.
Tlr liettiiN to the Evlitor, 'in’ccfl cont-rmiiii? money in sums
ot Five IhUnr.c, or over, must come fr.-e of poita^fe, or the
amount p ud at the ollice here w:ll |v^ elrir,^'-.i to the writer
!'i ' V' TV insfan'V', and t‘idle(’ted as otii. r accounts.
ii>‘fcriTd Artii'lrs,
'i’iiU W'hig- pij'.ers now adniil that li\a J3jiuocrats
lijvo :i livijonfy :n tli ' M i5sar*ht3?t.l?s lattjve.
So iho I > ■nK):r:ilic caiididatcj wil!
b’j ( 1 .'tec! (iovernor of ‘!ic Day State.
In the rfonse of Commons on tlie ITili ulr.,
I\Ir. irrini^^-^r prpscntod the foilowiti!^ Prpanibic
auJ It'sofntion, which was road and adopteii.
U Hi:iu:.v.s the Hoiise of Coinnions have heard
Avith rc;,rr( t of the deatli of Kx--Governor Stokes,
whovfj li.'t'. h i« connected for more than half a
entury with liie histoi y of rs’^ortli (JaroInn,and who
has occujtiLd tnatiy di^tinguisiied stations in her o-ifi
ihorefoK', ^
fvC'^’ih'CiJ, ij~ii:i711)^1 oujily^ That n3 a mark of rcs-
j to t!ie niemory of .Montfurd Stokes, this House
‘i ; I1)'V a Ij'.iii ri until Aim I ly mornitii; iOoV-iock.
1 hercforo, tho Spcalcer declared tho [louse ad-
jOuri'.ed tintil Mon lay iiif^rnin:;; 10 o’clock.
iVir ('tncuninli -'I'ho Cincinnati papers in-
frotti us that tho Mtthodists of that citv havt; expell-
«h1 from the society live persons, who were laii^ag'ed
in and coi^nizant of the mainfdtnient of Mrs. Stibhs.
die old wonuui who was so cnif lly neglcoted bv
her relativts. 'i’he report of tfie>*!o:njuittee of th*e
'h!irch is ollictally p!;hlislu‘d, and makes the hor
rible circu!ns:ancs stiil more agg-ravalLd than at
lirst re ported. \Vc liivo never before read any
st iteinent of siicli tmtiatiiral and cold blooded cni-
Ml-TIXV OX DOAUD THE S. r.IlIG
SOMEJIH.
An evrnt of n, rnoMt apjndling ch.'ti'iicter oocurred
on Hoard the 17. S, I’ri^r Somers, Capt. McKenziCj
on her late. VdyfiiTi' Irotn AlVicii. Tiie Somers i5> re-
jH’e.sented as a /inc ‘‘ Sailer,’’ with len guns, and a
crow ()l abot.t twi'fity ah!c men, and I'orty appren
tice hoyj:, maka.g', with the oliic.er.s, some 75 persons
on boaril. Shortly before the brig arrived at St.
'i'homas. wluM'e h-lie ptit into water, tiui .startling fact
■•■vas li.scIo>(^d that a mutiny was in preparation,
headed by Midshipman Spencer, son of tlie Secreta
ry ot War, S[)cMcer was thenmpon arrested and jia-
pcrs were tound m ins possession signed by such a
iHimher ol the crew as would have been :ihle lo car
ry out tile plan by a surprise. A Court Maitial was
iiimvMh'ately held which detenriined that nothing
-hort ('1 tlie prompt execution of the ring leaders
would insure the safety of the Shin. Speiirer and
two petty oiticers u'ere thereuj)on onleretl to he hung
t ii Uie yaril arm, which U'u$ done forlhwilh !
Such is the accouiit, of the horrible atfair as pub-
lishe.d in llie IVev,' "!i'ork papers, at llie Navy Yarti
■ 1 which cily, tlie brig now lies with all hands on
{- >ar!l. all it;tcrcourse v/ith the shore bcin^ ibrbid-
den.
J’uMic ('pmion scem.^ t(> jusliry (ho conduct of
( :;pt. McKenzie and his oliicer.'^—though il' it be
ti ue as a corretpoiulent of the Madisonian states,
'hal lour ilays ela])sed between the seizure of the
■;irce rmgleaders and their execution, we concur'
■\Mtii so'ne ofour brethren ot the Press in the opinion
’hat the ('aptain atul his otUcers, will have lo nrake
• 'V;t a very str-ong case to convince the country of
the iiccetffiittj oi the execution of the wreclhed indi
viduals at sea, Tlie writer of tlie communication is
undoubtedly .Mr, Secretary Spencer, the father of
The yomig mati above named, who ought to lie as
laatdiar with the. lads of the case, and as cautious
iH 6])eaking ol'them as any other man at Washing-
toti. He states young Spencer's age at les.s than
rj years, ami ailos, “As to the prohabiiit}' that such
a mere hoy,—utterly unacquainted with naviga
tion,—brought up in the iutorior, would seriously
»*nde Ivor to seduce to nuitiny an ohl seaman who
had arrived at the rank uf boatswain’s male, and
^\.io is represented lo have been employed hereto
fore on board a slaver, or to liave been a pirate—
'Ui impartial iribunal; belbrc whicli Oolh su/cs will
l«c hctird. Will ileterjiiine.
, only accoiuus we have given by Spencer
I'iMnseli, 19, tliat it hv/s alt a joke. If it shall appear
to iiave been the mere ronnuice ot a heeilless hoy,
-amusing himsell, it is true, in a dangerous manner.
^‘Ut sidl devoid ot such murderous designs as aic
imputed, and it the execution ot him ami two sea-
liien (agaiiKSt one of whom, at least, there is not yet
a particle of cvidencc) should prove to have been
tiie result of tmmanly /car, or of a despotic temper,
and wholly unniiettessary at the time to repress or
prevent a mutiny ; if all this can appear, it cannot
ho doubted that the laws will be vindicated.-’
The New York Jvxpress professes to give tiic fol
lowing additional particulars:
“In the lirst i)lace, the mutiny was discovered l>e-
ibre iier arrival at St. Tiiomas, and the execution
’ook place on the 20th IVov. several days betbre she
reacheil that island.
the mutiny was discovered, Cainmander
-viclvenzie imparted the inlormation lo some of his
'Mficers, \frl)o armed themselves and went on deck,
^vliea tlie comniander ordered ail iho olHcers of the
•mg to come aft on (he quarter deck. Spencer came
rest, an«l being all assembled, the comman-
f'hargrtl him with muuny: and ordered iiim to
be put in irons. Spencer made no resistance, but
turned up the sleeves ol iiisroat to receive the iron.s.
i his was done in presence of the crew, who, it was
^ipposed, Spencer expected would rise in his favor.
But there was no cfibrt of the kind. One or two
days after, tfie other two men were put in irons.—
Spencer was in irons four days before he was exe
cuted. On the day or night previous to the execu
tion. an examination was had, and it was resolved
to execute three. A gun w’as fired at one o’clock,
when the prisoners were summoned to expiate their
crimes onti the crcu’ were assembled to witness the
execution. Spencer received tlie sentence with
great firmness and apparent disregard of death. On
the signal being given they were all run up at the
san.e instant, at the main yard arm, Spencer on one
side of the vessel and two men on the other,” &c.
The New York Courier gives further accounts of
wliat it calls ‘*this extraordinary but entirely justifi
able proceeding ’—professedly drawn from the
hignest authority. Among other circumstances, it
states, that it was iVIidsliipnian Spencer, who com
municated the plot to AJr, Wales, the Purser’s Slew’-
ard, under an oath of secrecy—tliat finding he was
watched he detailed tlie, matter to the Purser, who
nuiue it known to Captain Mackenzie—that Spen
cer’s paper? were then examined, and all the details
were fully confirmed. Capt. McKenzic then consul-
tetl his officers in a circular letter, requesting their
opinion—and each one returned for answer that
Spencer and the other two ringleaders deserved im
mediate (iealh and tfie Captain councilling with
them determined to rarry it into imme(iiate'execn-
tion. Small (one of the mutineers.) publicly con
fessed his liiults. As he was about lo be executed,
Spencer asked the respite often minutes, for himself
and companions. An hour was granted—anti Spen
cer was asked if he wished to write to his father or
mother; but he. replied that-//’ did not—ho then ac
knowledged his guilt, and the justice of his punish
ment—and remarked that he would rather meet his
death (at sea;) liian he subjocte{i to the infamy of
exposijre on-shore. They were all run up together,
riie N. Y. Courier believes that the conspiracy was
communicated to Capt. M, on the 27th November,
and the execution of the Mutineers took place on the
lit December.
Coii^rc.s^ioiial Reports.
The following synopsis of the annual Report of
the Sccrctasy of the "iVeasury to the present session
of Congress, wc copy frotn the National LiielUgai-
cer ; and that of tho Secretary of War from the
IVciv \orlc 'Vrilmnc—bolii Wliig papers, but we
suppose they would not misstate the conlcnts of olii-
cial docuineats like these ;
tup: ANNUAL TREASUilY REPORT.
The Annual Report of the Secretary of the Trea-
S'.iry was received in Congress yesterdjiy, from
which we have with great h-iste skimmed the fol
lowing partictilars ;
The Receipts into the I’reasury during the three
first quarters of the present year, with the estimated
receipts for tho fourth (ju irter from every source,
(including loans and Treasury notes,) amount lo
thirty-four millians five hundred and two thousand
dollars, besides the balance of two hundred and
thirty thousand dollars in tho Treasury on the first
of.IanL»ary last.
The lu.cpr/adhures for the three last quarters of
the year, with the estimated expenditure for the re
maining quarter, amount (including 87,856,400 for
redemption of Treasury notes) lo thirty-four millions
five hundred and three thousand dollars.
The Receipts for the half ncar ending 1st July
next are estimated (including Treasury notes and
loan to amount of 65,538,000) at $14,588,113 ; and
liie Kxpenditures for the san;e period (including in
terest on debt and 'I'reasury notes to amount ol i$G05,-
000) at i^lOjoS 1,186. i"he estimates of Receipts
and Kxponditures for tke fiscal year emVnig the 30th
June 1843, (utider the new* arranget»eni effected by
the act of the last session,) are estimated, the R-.'-
ccipts from customs and public lands (and 8150,000
from miscelianeous sources) at $18,850,000, and
the Expendittires (including interest and Treasury
notes) at 820,945,498.
'rhe balance remaining in the Treasury on the
oOih June. 1843, ii is estimated will amount to 83,-
731,369, and on ilio 30th June, 1844, to 81,635,-
87l'.
Since the estimates were prepared at the several
LVpartments, it iias been ascertained that the expen
ditures for the tbtirth quarter of the present year
w’ill fall considerably short of the amount estitnaled,
so that the balance in the 'Preasury on the 1st Janu
ary next will be considerably larger than estimated ;
but, as the diflerencc will become a charge on the
Treasury in the next year, it lias not been deemed
necessary to alter the amount as first estimated.
The recommendations of the Report are confined
to that of a further provision for revenue and the
support of public credit by a taxation on untaxed or
lightly taxed articles of import to produce an addi
tion to tfie present revenue of three millions of dol
lars a year; an authority to allow interest on all
outstanding Treasury notes, as under the last issue
thereof: and the establishrnen! of a warehousing
svstetn.
are 8775,200, and in the Engineer Department for
the next eighteen momhs, 81.245,500 are aaktd.
I he whole amount of estimates for the military
service for the fiscal y^ar ending July 1. 1844. is
84.144.154. ^Phe estnnates for pensions for 1843
are 869/,650. In the Indian Department the ex
penses are regulated by law and will amount in
1843 to 8791,434.
The Secretary states that arrangements have
been made with nearly all the Florida Indians to
rcmov^e beyond the Mississippi; and that during the
ypar 450 have been shipped, and 200 more surren
dered. A force of 1644 men is retained in FioridV
The troops withdrawn have been stationed atdiil^.
ent points.
A strong force has been placed on Red ??lvef
under Geji. Taylor, to keep the Indians in dheck.
and to prevent any attempts to cngat?e in the con
test in '.'*hich Texas is involved with -Mexico. The
sufety of the Southwest, West anfl Northwest fron-
tiers, in the Secretary’s opinion, demand the contin
uance there of the present mounted regiments.
From the grperai rcttirnsof the army it appears
that tho whole number of troops now in service is
9,847, consisting of 731 commissioned oliicers.
9,600 non-commissioned officers, musicians, artifi-
cejis, and privates, and 217 enlisted men of ordnance,
Thf^ggregate ;s 847 less than tlie number stated
in the last annu,*I renoft. The desertions have not
been fTquf’nt though many discharges have been
made of f)reign^r^ and the Secretary recommends
a tnodification of tn*'lau’s prohibiting the enlistment
r)f such. ^J’hc ordinance I^ureau is well conducted.
.^('Vf^ral of (ho St;ites are dolinqtienl in the returns
of their militia—New’ Jersey, r)elaware, Arkans§^
and Louisiana not having made returns for from
to 18 years. During the season no w'ork has been
done at the armories, though operations arj^'ow
resumed, and orders havt? been given to ma^SoO
riflt s and 500 percussion muskets per month
next six months. '1 ho importance of a natidn^li
foundry is urged.
'The reserved mineral lands in the North of Illi
nois, Wisconsin and Iowa are recomfnended to be
sold in ten acre lots at the minimum rate of 8100
per lot; as demanded alike by the interest of tho
United States in the lands and the prosperity and
peace of the citizens occupying tlie lands. Meas
ures have been adopted for putting in order Fort
Jcsup in Louisiana, and Fort Atkinson; for estab
lishing the new posts on the Marmiton river, anrl
on or near the False \V ishita as an anchorage, at
Detroit, Pl.ittsburg, Fort Suliivan, P'ort Adams and
at various other posts.
State Finances.
HOUS.E OF COMMONS.
1 he Committee on P^inance lo whom was refer
red the Reports of the Public Treasurer and Comp
troller have instructed me to
REPORT:
lion to buy rail road bonds, or any securities tho
board may choose; but the Committee submit no
such power was given, or intended lo be given, and
such right is completely negatived by the 3d Sec
tion of 69th Chapter Revised Statutes, before quo*
ted, which authorises a loan or other disposition, in
case the Bank fails to accept the amended charter.
1 he Bank did accept, and the necessary conse-
Co.L^r'oll'’;^f n'" 'T" i 1“™=" Board was confined wThe
ch. rs ill till, eornptrollor^ Department, find the slocks named in 0Gtli-67lh chanters Tha.1
cannot pcrcef^e U.ethe
The See ret If
agaip invokes the attention of
Congress lo trio dishonored pledge rjiven by the
quartermas'cr general, in rhe name and by t.ho au
thority of this nation, to the Creek' Indians, to remu
nerate them for their services in Florida, as a con
sideration for their removal. Piie eainestness,”
says tlie report, *• with n-hich a gallant soldier pleads
for the faith and honoi of his country, and for jus
tice to a helpless tribe, who have no resort but to
our own sense of right, it is hoped will not only be
excused by the circumstances, but will find a hearty
response m every bosom.”
Arrangements have been made whereby 2085
guns may bo mounted at important points on the
sea-coast. The n'orks at Detroit and BnfTalo will
be vigorously p. osecuted : and operations at the out
let ol lake Ch-iuiplain have been suspended in con-
Sequence of tf«‘- c« ssion lo our Government of Rou*
s^*’s Point, w?iere the commencemc nt of a work is
recommended. With regard to the defence of our
own harbor the Secretary says:
“Although the slate of the works for the defence
of the hurbor of N»av-\ ork is very gratifying, yet
It should not be forgotten that they do not complete
the system, and tiuit without such completion, they
do not af]oid adequate protection 7’he fortifications
on Staten Island at the Narrows are deemed more
important than the opposite forts Hamilton and La
fayette. The U'liitd States has expended more
than 815.000 in ( ' ectingthe works on Statf'n Island,
upon land belonging to the State of New-York.
I'hat State has otiered to convey this iind on recei
ving the original purchas- mon«'y and liie interest.
The diiliculiy resp'^cting the title, uiiich u’as sup
posed to exist, has b^t n removed by th*^' opinion of
the Attorney Cien^-ral. that the ritr'ht to the land is
unquestionably jn the Stilo of New-York. It is
therefore conhd*=ntly iujped that the necessary ap
propriation will tiow be made to purchase the
site of the works erected and to put them in repair.
Should any apprehension be fe lt of a want of means,
they can probably be supplied by the stile of tho
site of I'ort Gransvoort, on the North River, which
has bccome comparatively useless, and by theappli-
cation oi the proceeds of such sale to the w’orks on
Staten Island. Another and most essential part of
the defence of the harbor of New York, which
haS'been rendered more necessary by the discovery
of a new channel, consists of a work on Sandy
tlook, the immediate commencement of which is
strenuously urged by the chief engineer by the
most convincing considerations. It is most earnest
ly and respectfully recommended to the considera
tion of Congress,”
The Report recommends the defence of Mobile
Cof^iptrolier, and the reports of that officer, and the
Committee have cancelled the \ ouchers for the two
'las4fiscal years, ending Nov. 1, 1842. The Com-^
.ynittee have also examined the Books. Vouchers and
-^^ash in the Treasurer’s office, and the Deposites in
Lank, as repojted by^^e Tip^surer, and they find
that the Vouchers correspond witJi the Bopjis and
the primed report of that-officer, and that the depos>
ites in Bank are made as reined, and have been
made in conforiiiity with the law on that subjcct.
The Public Trewurer reports,^ Treasury change
on hand, the sum of ^149 64. The Committee
counted and burnt 70 (some Treasury notes
having been redeemed since Nov. I,) and they have
instiucted me to report a resolution in favor of the
Treasurer forihat amount, which resolution accom-
panics this report. ■■■’a
I am instructed by a majority ot the Committee
to report further, that the investment of a portion of
tho Literary Fond in the bonds of the Raleigh ond
Gaston Rail Itifsd Company and the W’^ilmington
Company r.-as, in the opin-
*’ ;2^pfmittee, made by the President and
^^^ors CFTsaid Fund without authority of law’,
^re, however, this instruction was given, the
fernittce considered it due to the Literary Board,
to enquire the reasons of the Board for said rnvest-
ment, and for the law under which it was made, and
^ finswer to that encjuiry, they received from the
emor, as President of that Board, the commu-
oppeftded, which I am directed by the
otfll^'Uee to subqjit with this report.
The construction ^^iv^n to the law by the Gov-
in favor of the course pursued by the
from LeerisI
thi
and ‘‘the ,
oTf^inance’* w^e
lanet at the
ernor,
ry to a
the instructions” befi
W^ithout impug
intimating that th
est in making ih
State, and the interel
vernor implies may be charged b,
vancc against such an inferc
whether “ the plighted faith „
is good security” an enquiry ^
p»c»ssary by “one son of No
always considered bcyon
were naturally led to e
of the Literary Fund was
Road Cam panics, w’hose ^
market at the nominal sum o
paid in. The committee we
K
[led, were not satisfacto*
itnittee, and, therefore,
red to.
^otives of the Board, or
^her^^l^ect or inter-
'jirvad*
'asking
)ie darned
in
for
^^d in
enquiries by the assissance of “^mment jurists,”
a lefcience was had to the Statutes creating the
Literary Board, to ascertain their powers. 7'he 3d
section of G6 Chap. of Rev. Stat. passed in 1S25,
they were memb^ of
mi^ee then diferently conslhnied by different Sj
report was made to the
by tb« Honorable Mr. Si|a|^i,lhc Chaixman,
now* member of this CoJRitiee, in which
the slightest iuiimation was m^e that, the
had n^ authority lo make these
his Excellency hiid not power to draw v^arn.
f^r different other purposes which Ac judged proj
and expedient; yet, ia a report subsequently nna
by the same Committee upon a resolution of instr.
tion from the House of Commons, the Committ
admit that sundry sums were drawn from iheTri
surv not in strict conformitx'' to, and by authori
of law.”
It is due, however, to the Committee on Finn)
of the last Session, to state (which is done upon
authority of part of the members of the prest
Committee then members,) that the ground assm
ed by that Committee and^ acted upon, was, that
was no part of the duty of the Committee on
nance to investigate the authority, by which v
rants were drawn by the Governor, and this com
sion was arrived at too in opposition to the opinit
of “ the present Speaker of ihe Senate, the prea
Speaker of the House of Commons,” and “
present Chairman of the Committee on Financ
and therefore the ” relied upon vvihch it
presumed, ** will go farther lo sustain the couj
pursued by the Board than any other,” loses mi
of its force to justify a course, 7wi in strict conft
mity to^ and by a,i^ority of law.'’
* This Comrpict^^giiered il iktir duty to
quire for the hw aiulfetfzi^^rafls from the Tr|
?«ury or Literary investments or oil
wiic*, ICpfcurged thar t|ie'inves^meni is a safe
isGj® State is S^purtet^the Bonds. ThU,
t^ W ilmmgton «n4;^
lad Bonds invested ; before the last
^fcad endorsed no bonds for that
jnvestment made, the Board
accomplished consent of the Legislature,
what the LegiSwMfcd failed and indirectly re*
fused to do. The the State was only lent
to the Rail Roads on b
the investmeni, the mo?ie
once, and the consequenc
v.-r. JI.JCOUU 1(1 1C-4.J i . ' 1 ^ .
provides, that “The President and Directors of the ‘ believe, an abstra(^
Fund hereby created, arc authorized to vest any I
part, or the whole of said Fund, in the Stock of any ‘ ^^^horized
of the Banks of this State, or the United States, or
in the Stock of the Government of the United States,
and at all times to change, alter, and dispose of the
same, and of i\ny real or personal estate belonging
to tho said fund, in such manner, and upon such
terms as may, in their opinion, be best calculated to
improve the value thereof,” The 4th sect. of G7
chap. Rev, Stat, passed in 1836 provides, “In ad
dition to the said lands, (the swamp lands vested by
3d sect.) the following property and funds shall be
vested in said corporation and their successors in
trust as aforesaid, to wit: all tlie shares of Slock
g time to run. B/
State is loaned at
i be, the Com'*-
of nearly the
mm «n-
whtt is
n
iH
act of the Li
not satisfied that the-Stale*,
large amount on Iier endorse
Bonds? The Committee cofhcroae.
Board were driven to the necessity onrefWrfTfffing
whether a portion of their fuivl should lie idle, or
their pow’ers should be ext nded by a forced con
struction, without the intervention of the Legisla
ture, (a dilemma the Comrniuee cannot perceive.)
it would have been infinitely preferable to adopt the
former coursc. The Committee have acted upon a
cherished republican principle, that public agents
ought to be held to a strict accountab'lity, and they
have in the discharge of a public duly, instituted
1 iiriciji umtti tiia iniiiiiruiuiu tuuii'ji. vt_-iy lu » i*ii i.>iiiuarv .rvuaut-u
thorough inspection has been made, under his order, | garded as /ery satisfactory,
of all the military afiairs of the country*, and the j ^
information thus obtiined, he says, is of the mosl j J?nporta}i( Jrom ]Vaski7i^lo}i.-yA\c are inform*
oTatifyin’’ character, 'Phe cstinvites for the army ; ed by a private lelt^^r from Washington, that an ex*
proper for the first of the year 1843, amount lo | press has arrived there from the Pacific, bringing
8553.586; whereas the appropriations for the same intelligence that the British Government has sent a
service for the half of 1S42 were 8‘2,1425334.
thus showing a reduction of 8l,o88,/48—made
possible by the close of the Florida war, the sus
pension of many e.xpendit
low state of the Treasury
to economise. I’he .same
reduction of the rsiimales
mencing July 1st, 1843, 83.204.563 being 81.080,
100 less than the equivalent appropvi.itions in 1842.
and 8867.430 less than those of 1840. The Sec-
owned by the State of North Carolina excepting one ‘ discha ^ ^ ^ —
thousand shares, together with all the shares of i '‘Crewith submit the result thereof,
stock now held in said Bank, in the name of the j CTcneral Assembly. They cannot, in conclu-
Presidenl and Directors of the Literary fund, mak-1 otherwise than express some ‘‘ 5wr/?mc’'
ing in all five thousand shares of slock in the capi- i
tal of the Bank of Cape Fear and the profiits and
dividends arising from said stock: which profits
shall be reinvested by the said President and Direc*
tors from time to time as they accrue for the use of
said fund as they may judge best: subject however,
at all times, to the direction and control of the Gen
eral Assembly.” At the same session (1836) an
act was passed increasing the capital of the Bank
of Cape Fear and providing lhat upon an accep
tance of the amended charter by the Stockholders
the State shall be entitled to subscribe 3000 shares
of said increased capital, and at the same session,
Chap. 69 sec. 3. of Rev, Stat. it is provided if the
Stockholders in the Cape Fear Bank shall fail to
accept the amendment of their charter, which is
too, that a request for explanation fiorn public agents
by a Committee of th(5 General Assembly, is con
sidered inappropriate, and an indirect denial of their
right is intimated.
All of which is
liespoctftiliy siibmiUed,
,^\SA IjIGGS, Chairman.
Executive Office, Dec. 13, 1842.
To Col. Asa Biggs^ Chairman of the. Commiittt
of Finance :
Sir ; I have the honor to acknowledge the re
ceipt of yours of yesterday, m which you say, “ I
am instructed by the Committee of Finance, lo re
quest you to inform the Committee, in writing, why
a portion of the IMerary Fund has been used, for
the purchase of Bonds of the Raleigh and Gaston
f .u . /-I t * n purcnase oi lionus or me itaieign ana ijrasion
made by an ac of the present General Assembly, Companv, and of the Wilmington and
so that the funds of the State cannot be invested m Companv, and under what/a!^,
the stock of sa,d Bank, as by said act is directed, il|^^;j j^^estment was made.”
shall be the duly oi the I’resident ana Directors of'
the Literary fund to loan out tlie sum so directed to
In reply, I have the honor to state, that v'h?/ a
be in veiled and added'to the iViterary Yund,"or"oih-1 porlion of that Fund was so used, was for the pur-
■ manatee the same so as toiP?^^?^ niakmg an mvestrnent of a portion of that
large fleet into the Pacific, The objcct has not
yet transpired, whether the destination bp California,
Om,Tnn nr thp iNorii tV Islailds, It W’lll be re
letter again -*-perhaps republish'^.
shall refer to this
Boston Post
relary believes lhat the present military establish
ment of the country may be maintained for 83,100,*
000, not including stor= s, &c., nor expt nses of erect
ing fortifications. The recommendations tor the
crdnnnceservigeof the year, commencing July. IS43
As we have not remark before, per
haps it is not vet loo late t(j' say that we have nevei
seen the Merribers of Congress come togeiher in
belter apparent tPinperand friendliness towards ca:h
other th:m r,t this session.—Xaf
erWlSe to SCCUrC and nic camc Dw uo L, , 1*1^ 1 • -ji • «
cause said fund to accumulate as rapidly as possi-1 'vhicn was lymg idle in the Ireasury, for
bie,” This is all the law* the Committee have been ! benefit and increase of iho Fund, and or course
able to find authorizing or relating to investments j investments for the benefit of lhat Fund, must be
by the Literary Board. Tiie first enquiry is; doe.« of the t uud itself,
the act of 1S25 authorise the investment of any part | the design of the enquiry is, to know* the rea-
of said fund in Rail Road bonds ? The stocks f^ns, which influenced the Literary Board, m se-
named are '''the stork of any of the Banks of this • leclmg the Bonds for inve^merits, ir^tead of any
S'-'t'’. O'" of the f'nitcd States or iri the stock of the, ®^her objects of investment, I will briefly gi'^e them.
Government f the f 'mted States, and at all times : It will he observed, lhat the last Legislature di-
, to change, alter and dispose of the same.” Riil i reeled the Public Treasurer to borrow any monies
Road Slocks or I^onds are not included: and why ' th'» Public "Preasury might need, from the Boards
particularise the Stocks, if, by the aa’hotity to ^ of Internal Improvement and of Literature; tho
change, alter, and dis;->ose of the same,” il gave tin-' Treasurer was under the^ necessity of using a
limited pow’cr “to invest the whole fund in such large amount of this Fund, until the Public Taxes
stocks and permanent securities as the Board may of 1841 w’ere paid in Sept. and Oct, of that j’ear.
deem proper, ’ 'Phe Cotnmiitee cannot concur in 1 'i’be first of the y^ ar 1842 found a large amount
a conctruction neither sanctioned by the letter or ot the Literary Fund idh- in the IVeasury, and not
spirit of thii act, as they believe the 4th Section of, much probabiiity of its being required by the Pub-
67th Chapter Revised Statutes, parsed in au-' lie Treasury. The Board determmed to investa
thorises a "reinvestment''' cf the pr-f'^ arising , small amount of the Fund, which they did in the
from Bink Stock directed to bo vested, Tliis Ian* j latter part of 1341, but mostly in the first part of
guage is 5aiJ to be ambiguous: but the right claim- ■ 1342.
ed, and the practice unler r. is neither ambiguous . In casting about for suitable objects of investment
when tiie S'.a’.'j'.e direcls an ir;vest-' ihe Board turned iheir attention lo such Stocks and
mer/. oi Bink Stock, an 1 a reinvcitnient of the pro-
j fils ri ',hf\ S'.nck, it wo’il] seen; to be an ex'eeding-
‘ ’v 'OH'’'’t r“- -r- ';n ‘'*1
Bonds as occurrrd to them, for you will observe
there is no law, lo autliorize the Fund lo be loaned.
A*, a*, ^ur v/cro 'ri s^a*e of suspcn*