r THE PATRIOT. Abstract of the Rewaue Act. 1 Section I. Levies n tax of 3 cnta on every dollar of inteietl afrly secured and actually due or receivea on usum ol money nt interest, 10 the Stale of out of it, fur ibe yei next before the returns are made. ' Levie like tar af 3 cente oa every jolW ' oi ' dividend, tncom mr profit safely secured and actually due ot received, lor the. year next br(pjw the return ere mde s on all sums of mwy in? vested i Slocks, in trndinff in alavea. in aailmi- vessels. or4n any other epecies.if, trade : Frow st1 b" Ct to -wW'Ml 'oc.k riow taxed by law, nor to irtejytf inatitutior.s. nt pro vuled further, Italia, act shall Exempt I row, tax Hon allium oiiiniere Ai'.AA .at wcVt seated k aforesaid undef the turn f 5CV v Abstract of the Act to-incorporate the North Carolina Railroad Company. , ." ThT list Section prof lie! tor fteTforroa.twnot a, Corporate Company, with a capital stock of $3 000,000 under certain conditioo prescribed and Section 2.auiborises them to construct a Rail road from the Mrilmintnon aod Raleigh Railroad, where the same pasxrtover thu Neuse River, in Wayne, via ft-Jeigh, and thence by the most I practicable route, tiiV Salisbury, V Charlotte, See. 3d appoint Commissioner, at Ibe vari ov proper placet, whose duty it shall be to direct the opening of Books for Subscription of Stock, &c, arjd to cut for and recover ail sums of mon ey iha ought (under this act to be received by .hem. --':;"';'', See, 4 and 5 nuke further regulations as to the operations ofihe Commissioners, the securiog periodical pay men". 00 the Slock subscribed, and prescribes the mode for the formation ofihe Com pany, besides regulating and organizing meetings of the Stockholders, election of Directors, etc.. ' V Eliempt merchant lot all sums they are ' provide that from the closing of the hooka of ow taxed by lawr h ' subscription the - subscribers to the '-clock ehaj! BOW 4. xetnDti further, an amoant -nual tatha ."debtedncs of the owner ol all moneys thus at in- " tcresi or so invested. " 6. Ptoeide the mod for making the return ,ttf these 'tori,' " r ........... 9. Taxes all Surgeon Oentisb, Practicing Phy sicians and practicing Lawyers, whose annual in- I come exceeds 500, the sum off? each after the first ftre year of their practice i and taxes all oth er persons whose salaries and feea yield annually 300, a like sum of 93, exempting Ministers of Ibe Gospel, Governor, Judges, dbc T. Tsxes gold and silver plate between the val ue of 50 and 3500, the sum of &2, over the val- , tie of 3300, tb turn of 34 ; all carriage! in use by Hht osrners thereof over the value of 3200, the sum of 31 ; gold wa'.cbes in use 25 cents, silver do, 10 cents 1 harps and Piano, (except in semi naries of learning.) the former 32 and the latter 31 each retailers of spirituous liquors 310 bil- . liard ublea. 3200 ; bowling allies 325 playing cards 10 cenu a pack, to be paid by the teller ; Prov'ultd, that this enactment shall not go into ef fect until April 1850. b. Taxes horse and mule and bog drover 35 for every courty in which ibev sell or off-r to ell. The remaining sections provide for making these returns, thai the. Countv Courts shall not he l. lowed to tax any of the Vbqve articles, and a pen ality for making false returns, and for printing csira copies 01 me net, etc. V Abstract ofthg Act to incorporate the Hank of FuyetteviU . Section I. Providea m that a Qanksbajl be es. Ubfubed in tlie l wn of Faxetteville, ibe Cupi Ul Stock or mViich shall not exceed eight hun dred thousand dollars, divided into shares of fifiv dollar each, and that o the purpose of receiving Subscriptions for said Stock,, book shall be ope.i. od on Ibe first 4y of February, one thousand eight hundred and forty nine, and rema.io open for the space, of sixty days, at Fayee.yile, under the superintendence of the following persons or a aiaionty oC therovix j Jaroea Kyle, Henry Lilly J. D. Starr, Javmea Marline, J. T. Gilmore, aod at such other places, nnrler the aperimendence of 1 soth person as a'td UommTSsronerj rruay direct.1 St. Otie lenth of such sha.ea to be paid in eold tt silver or their equivalent at the time of subscri bing, 'another tenth within SO days, another tenth 1 . within GO, another tenth within 00, another tenth within 120 days thereafter, and the remainder when the president and director may direct. 3. When two thousand shuira ttr subscribed, and 325,000 actually.' paid. ,n, the subscribers to stand incorporated u.v,der the name of the Bank of Fayette ille.ine charier tecoatiaue until Jan. lit, 1875, . 4. Provides fur colling a meeting of subscrib ers at Fayetiettlle electing nine directors, dtc. r 5. Lays down rales for the stockholders' and di rectors' melings.prescribes the bitsine; of the Bank the public treasurer to be furnished once in six months with a statement of (he eapitsl atock, the debts due, the monies deposited, the note in cir- culation, cash .in hmrst, exc. tmmmm, 0. Note of Iho Rank presented for payment and refused, to draw 12 per cent interest. 7. In case of insolvency ox ultimate inability on the part of thia corporation, to pay, tho individual atock holders liable in sums double the. amounts of their stock. 8. The books may be kept open until the whole of the stock is taken. : 9. Makes embezzlement on the part of any of ficer, director, &c, felony. 10. Punishment for counterfeiting die. 1 1. A tax of 12 cents on each share of stock to be annually paid to the Stale. 12. Semi-annual dividends to be declared. 1U. The President must annually transmit to the Generil Assembly a full statement of the con d it ion of the Bank, 14. Any officer, making or conniving at a false return to the Treasurer or to the Legislature, made liable to indictment. v . -15; Proceedings in ease of violation of charter. , 16. If a greater sum than 3800,000 be subscri f bed, the Commissioners may scale the subscrip tions. ; ' 17. Whenever ten thousand shares shall ' have been subscribed, and the sum of 6ve hund red thousand dollars shall have been paid, in spe jo cie or us equivalent, the President and Director ' of the said Bank shall cause to be located branch es or agencies of the said Bank at Wadesborougb, in the county of Anson ; at Greenaborough, i n the countv of Guilford ; at Salisbury, in the' county of Rowan ; and at the town, of Washington, in the 1 county of Beaufort." ,. - The Plank Road. The capital stock is 3200,000. Whenever in' div.duals or corporations subscribe as much as 325.000, the company is to be invested with all the rights and privileges of a corporation. Wheneve r individuals or corporations shall have aubscribed one fifth, that is 310,000 then the State iala subscribe the aame. Whenever individual or eetpbW116lir"uf subscribed another fifth, then the State shall subscribe two fifths more, that is tossy 380,000 more.T he State is to be called en for ;he payment of its subscription as follows: ' Whenever tbree-fourt hs ofihe first subscription of 340,000 by individuals is either paid orsecured . . . JB.JXV AAA I the Stale is lo pav it subsenpt'on Whenever threelourtha of the other ed by individuals ia fithef paid. r secured, the !, State is to pay hs ether subscription of 380,000. It will be perceived, therefore, that individuals pay two-fifths and the atate three mhs, Tbe name of the Company ia " The Fay ville and Western l'lank Koad Company. The design is to construct a Plank Road from Fayeiteville to Salisbury by the most practicable route, to be determined by the -Pirectors with the privilege of branches diverging from the -main siem. -The capilsl stock way fee increased le 3300,00a -j'I."' form one bodv politic and corporate, in deed and in law. for the purposes aforesaid, by the name and style of the North Carolina Railroad Company. Sec, 0, Makes provison for the perfection of the powers of the Corporation, when one million of dollars shall be subscribed in conformity to the act, &c, and See. 7. direct tbe manner of serv ice process upon the Company, ebc Sec, 8. Provides Tor a General meeting of the Stockholders at Sailabury, as soon as one million of dollors shall have been subscribed, for the elec tion of Directors &r., and Section 3 commits the management of the aoaiis of tbe Company to a Board ol twelve Directors, Sec. 1Q direct the manner of their election, &c. Sec. 1 1. 1 hat the President of the Company shall be elected by the Director from among their number, in tuca a manner aa the regulations a the said Company shall prescribe. sec. ix. At tbe nrst general meeiiog a major; ty or all the .hares subscribed shall be represent ed before proceedioa to business if not, provide for adjournmea until a regular meeting be held, at which bye-kw. fcc.,are t..bejdoptfdA4MK Sections 13, 14, 15, and 10. contain general re gulations fox tbe government of the Company, mar king their contracts binding, dtc. Sec. 17. That tbe Company may have power, and may pweeed to contract aa speedily as pos sible a Railroad, with one or more tracks, lo be used with steam power, on the whole line, and may use any teciiun of the Railroad constructed by them before the whole is completed. Sections 18, and 19 Give exclusive right of conveyance, at such charges as may be fixed on by the Directors ; and autboiise the Company to farm cut their rights of conveyance, &c. and makes thevn common carriers, &c. Sec. 20. Gives the Directors power lo call for payment of stock in such manner as the interest of the Company may require, due notice being given ; and provides, if any stock holder fail to payfhe Directors may sell his stock at auction on ten day's notice, and convey the same, &c, and Sec. 21, make all the debts of stock bolder of equal dignity, &c. Sections 22, end 23. Provide for the issue of ftvek. liaferatle, dte, and for the increase cfb Capital Slock, lo a sum sufficient to construct said road, which sum is tell in blank and provides the. mode, wc. Sections 24, 25, 26, 27, contain provisions, for acQumnjr property, condemning land dee. tbe us ual mode in such cases : and Sections zs, VJ, and 30, provide for the security of the rights of owners of lands, feme coverts, persons non composmentis &c. 1 Sections 31, 32. and 33, provide penalties -for instrusion, obstructions, damages, &c, to the said Road. Sec. 34. Directs rule for transportation, &c on ssid road. . Sec. 35. Provides for division of the profits, dec. Sec. 30. That whenever it shall appear to the Beard of Internal Improvement of this State, by a certification under the seat of satd Company, signed by their Treasurer and countersigned by their President, that one-tnird nave Deen subscri bed for and taken, and that at least five hundred thousand dollars have been paid in, said Board of Internal Improvement ahall be, and are hereby authorized, and required to subscribe on the part of the State, for stock in said Company, to tbe a mount of two millions of dollars lo the Capital Slock of said Company ; and the subscription in the following manner, to wit : the one-fourth part as soon as the said Company shall commence work, and one-fourth there of every six months thereafter, until the whole subscription in behalf of the State shall be paid. Provided, the Treas urer and Prescient of said Company shall, be lore they receive the said instalments, satisfactorily assure the Board of Intern il Improvmenls, by tbe certificates under the seal of said Company, that an amount of the private subscription baa been paid in equal proportion te the atock aubscribed by the State. Sec. 37,-If, in case the present Legislature shall not provide necessary and ample means lo 1 pay the aforesaid instalment? on the stock pres cribed for on the part of tbe Stale, as provided for tn tbe 30th section of this act, then and in toat evaat, the Board of Internal Improvement afore ssid, shall aod they are hereby authorized and empowered to borrow, on tbe credit of the State, not exceeding two. million or dollars, as toe ame may be needed by the requirement of this act. I See. 38. Thai in case it should become neces sary to borrow the money by this act authorized, the Public Treasurer shall issue the necessary certificates, signed by the Comptroller, in sum not less than one thousand doiisrs eacn, pieagmg the State for the payment oMthe sum therein mentioned, with interest, norexceediog six per cent, per annum, payable" semiannually, at such ttmea and place as the Treasurer may appoint, the principal of which certificate snail be re deemable at the end of thirty years from the time the same are issued t but no greater amount of said certihestes 'shall be issued any one time, than may be sufficient to meet the instalments required to be paid by tbe State at that time. Sees. 39 and 40. Make further, nececessary regulations concerning said Certificates, &c . Sees. 41 and 42. Pledge the Stock of the State in said Company for the redemption of said cer tificates; and dividend of profits for the payment dr, ud af reviving the late Company, certain .- r persons laerein nameo, ana tne laie ctocKnoiaera of, and obligors for the Road, or fly part of them, and such other persons and corporation a may1 associate with them, are created body corpor ate, with the privileges, die., of the late Com pany, upon tho following conditions ; 4(1. Whrnt-ter the a.iid nersoaa fend their associates named in the loregoing section, r-hall have subscribed the sum of five hundred tnousanu dollar for the purpoae aforesaid, and shall have expended the same) in putting the Raleigh and Gaston Railroad in full and complete order, with heavy T rail iron, or other iron equally good, hot ...;.kin li ihin Rftw nAundatothe vard. then ene-balf of tbe said Railroad, with all the machine shops, depots, water stations, engines, coaches, cars, and every other property appertaining to tbe said Railroad, ahall be sold, conveyed and trans. tVrred lo ibe said subscribers, their heir and as siens, by the Governor, under the Great seal of the state; ana tne saia inie stocunoKjer jiu obligors of the said Raleigh and Gasteo Railroad Company, snail be and are here ay deciarea to to be forever released .and discharged trout an liability to the State, for and on account of ibe said Raleigu and Gaston Railroad Company, up on the payment of costs incurred and tbe Uov ernor i hereby authorised, and it is declared 10 oe ni auty, to suspena tne lurtner prosecution 01 suits brought by lb State against tbe said Stock- t.n -J li -i T. v - I uoiuers anaowigors, until it can 00 ascenaineu whether the said subscribers are willing tearcept the condition of the act ; and that they shall be alloweu two year from the passage of this act to make known their determination lo tbe Uovernor. And if the terms and conditions of this act shall be accepted, and tbe work commenced, within two years, and finished within three years from tbe ratification of this act, then this act shall con tinue and be in full force for ninety years and no tohger. -. 47. If tbe conditions of this act are accepted, and the um of five hundred thousand dollars shall iiave been subscribed by solvent subscri be! i to be judged of by the Governor and At torney Ueneral, then, and in that case, tne ssiu ubscribet shall have lawful authority to mort gage one half of said Railroad to enable them to obtain the necessary credit to purchase a part of the iron which will be needed for said road. 48. If the subscriber refuse or neglect to ac cept the conditions of this act, the benefits of the same to be granted another association who may agree to comply with said conditions. 49. Specifies tbe terms of a connexion at Wei- don With the Roanoke Railroad Company, or the Seaboard and Roanoke Railroad Company. oU. Keaervc power in the Legislature to reg ulate intercourse between the IMortn Carolina and the Raleigh and Gaston Railroad. 51. Provides ppropnaiioos lor INeuse ana Tar rivers. 62. Provides for effecting ihe junction at Ral eigh. 53. " All the works hereby , required ol tne North Carolina Railroad Company shall be exe cuted with due diligence ; and if they be not com menced within three years alter the ratification of this act, and finished within two years after the period of commencement, then this - charter shall be forfeited." ' CdmWNlCA TIONS. I.- .'For the Peiriot, : , ., RAILROAD IMPROVEMENT.. , Messrs. Editors: I rejoice to believe tbat the thick and impenetrable gloom that, has bung over us so long aa state, w at wngin muoui 10 do hroUen un and disoersed. I trust forever. The cheering dawn of a new and glorkma era is now upon u ; a brighter aay as at iai oroe opoo the prospecta of th Old North, the bright morn oT which many now living upon uei sun wm m to ee. vFor 1 bare Wilts or nououot in my. own mind but that tbe liberal and enlightened schemes of tb Ian Legislature will be carried out to com plet'wo i and when thu is done, the hour I have anticipated will have arrived in all its glory, and iha oond naonle of North Carolina be as prosper- ouand hsppy as any other people on this con- linint. '': -""; ;?,'" Am I too aaneuine in expectation T -or do I speak too confidently, or beyond the bound of Railroads have been tried, every- yr adds to their length and. number t especially is ibh tbe case in those Mates wnere mere bave been any great number of them completed Tff Uluslrate luny tnis poinu iaae lor eaampto riiner, ei me States of ibe Union, sey the one that has the greatest number of miles of Railroad completed v COXGnCSSIOfAE,8rJM91AIIT. j r, : Monday, Feb. s. I'- " Sehats. The Virginia slavery resolu tions were presented by Mr. Hunter, with his statement that Virginia (would tnatain I their doctrines, &c. After sbme other morn- within it. bounds, and there you will be ure w jng biisiiiess, tbe postage bill was taken uu find the (rreateat niinUr nfnilea under contract 1 , . nfemnnn of accruing interest, &cbui until such dividends r; A k ..SZ fprtfif my be declared; it shall b the dutr of fiAhtubscr.b- lh TreMarer , p,y aI, loch i,, crue, out of any monies in the treasurer not oth erwise appropriated ; and make furtfier regula tions for keeping accounts of Stock, &c, with di- ui!nn fnr ranafrr of certificatLS. Ac. f l,Vw.. - - ' i. c"w" a A't n.MMj,a fn-lk nnamini.nl rJ Tt. rectars on the part of the State, &c. and 44 ex empts certain officers, tervanU, dec. o.f (be. Com pany from Military duly.. ' . Raleigh and Gatton Railroad; -Sec 45. Declares tbat for the purpose of put ting the Raleigh and Gaston Railroad in good or- Of the cost of relaying the Raleigh and Gaston Railroad wi'.hT iron weighing 60 lbs to lin- eat 'yard : ' 306,240 yds in Railing, of 87 miles lineal, 17.379 lbs. 56j to lineal yd. for 87 miles, 7,768 tons, at 350 per ton 3387,920,78 183,744 Sills, at 20 cents each, to be . placed 30 inches from centre lo centre 336,748.20 367,488 spikes, 2 to the pound, 183,- 744 lb 6 cents ' 15.024.64 163,120 yds laying sills and railing, 25c per yd. 38.290,00 10 Turnouts for Depots, 240 yards each ; laying the sills snd rails, at 25 cis per yd, to be laid with the iron now used, r 600,00 Ware-house at Gaston, 5000,00 For repairing dirt-work, 25,000,00 Cost of T iron per mile 3181.580.18 31.450,93 COMMON SCHOOL ADVOCATE PROSPECTUS. IF sufficiently supported, the siilwcriber intends to publish a monthly paper i t eightpages, tor the purpose of diffusing iutbrmution on tlie kubject ot ed ucation with the especial view ot improving the character of our Common Schools. It ia intended to give an account, drawn Ironv the public docuri.ents and other source, ot the origin and progress of our Common School system, to compare it with that of other States here and in Europe, thus no ting our improvement over former years ami autrifeit ing the means of overcoming the Oetects and difficul ties under which we alill labor. This will lead ua to Investigate the sources frem which sclicol funds are derived, the modes of their spplicui ion, the pre servation of order in schools, tlie selection of proper txmks lor study, the recreation suitable lor the pupils, the treatment necessary fordifl'erent dispositions, Ac. And believing that the Slate which would improve its schools must nrst improve its teuchers, a portion ol our columns will be devoted to the quest ions How are our schools to be supplied with Competent teschersl How is the standard of education to be raised, and the services of a band secured who are well qualified logo forth and in the spirit of love, la bor Tor the advancement of the children who are placed under their charge t " i But Education is a lord of very extensive mean inir. and althotiirh the orimarv obieel of the Dublica- lion may, frequently take us into the school room, we do not intend to be always confined there. Our sub ject matter is the human mind and the " fluencies irood and bad. with a view of preventing the one and strengthening the ether -which can be brought to operate upon it That this is a theme ol the deepest moment none csn deny. rlt grasps the interests not of this world onlv it reaches throuifli eternity. We ahall not hesitate then aa occasion may demand, to enter tbe family circle, to place ourselves on the streets or minele in tbe busy crowd and there aet fotth the rules of life and principles ol conduct which we believe will promote the gord of our race here nJ Mtn,,nt tn nnr vorlisl ini- tLdlfam in tha lilfl which is to come. The publication will be commenced in Greensboro so soon as a sufficient number of subscribers can be obtained to defray the expense of printing to bo printed on fair type, at OU centa a year, psyaoie on tbe receipt ot the firat number.- '- Letters relating to the paper may.be directed (poet paid) to Nereus Mendenhall, Jamestown, Uuillord county, N. C. Subscriptions also received at the Patriot office- Tb papers ol the State, and othere friendly to the cause of Education are requested to publish or' notice the above. NEKEUS MENDENHALL. 2d mo. 7, 1W9. riMlE FARMERS' AND PLANTERS ALMA- N AC, lor 1049, publhthed by Blum & Son. Sa lem, N. C tar sale by the gross, doten, or eincrle eopy, at the pubiigbeis' prices, . " Jan, J84SL 3 R At J SLOAN. n-iinn and common aense? I think not. For It must be apparent to all wfio have paid the least attention to public opinion, that there is a spirt abroad in the land, which I am gratified to be lieve cannot now be readily checked or resisted, in favor of internal improyement oy tne otate. This spirit has been aroused ra the bosom ol eve rv read in? and intelligent man of both politica tarties--bv the bright example set us by all the other-Stales. The creal problem of the utility emif expediency of such works by the Siatea has at last been solved by them, and we haveencour geing assurance before us, in the way of profits and dividends, which pre fit we find have been and are still reducing the respective debts that were contracted by the several States lo construct tbe same. " In' 1840-41 snd 42. when Pennsylvania, Maryland, Indiana, Obio, Illinois, Michigan and one or two other Siaies, owing to Ihe great and unurecedented pressure In money ailairs, were compelled to. suspend payment for a short period oi tune, naiiruau aiiu iiinurs -jrr,i, iaifi'' ment suffered in popularity under the great pres sure ihst existeo, and were denounced every where and almost by every body wbo had not been ihstrumWiatlrt constructirif ihemr Tbat waa a dark and fearful lime for the advocates and friend of internal Improvement. At this inauspicious moment, when the most sanguine began to despond, tbe public clamor became loud and bitter indeed were the sneers and anathemas that were hurled against' ibe friends of internal improvement for the ruinous course of policy which thev as a body had pursued. The ene- roie of internal improvement every where bera ted their opponents in no measured terms, and with much boasting set themselves up to be So- j Ions per tt ; and claimed to be the only individ uals in the country who were fit or safe to be trus'.ed with legislative authority. 1 hey bad. they said on the stump, prophesied this result when these expenditures were being mane, out their prophesies were not regarded no one would hear them, but were coolly set asicje as unwonny of regard or consideration But now that they have been verihec. and you nave our predictions before you as a reality, without change a fact We hope you will not have it in your hearts Ion- ger-to" question urgncjtyiiJIfiiIiJgUlote j tor you. w uh ihese and many oiners ot a sim ilar nature, the enemies 6ine-jn. throughout the Union triumphed for a lime; and under their M prudent and " economical ad-; ministration some of the great State works were sold for one fourth ol the amount that they orig inally cost, while others were mortgsged for large sums of money to enable tbe friends of the roads to complete them as designed. The work of internal improvement progressed, slowly, notwithstanding ibis panic had seized up on and chilled the prosperity of the whole coun try. There were more life and activity along these lines, crippled as they were, than in any other business ofihe land, and most of them paid better than negroes, manufactories or merchan dize. Many, very many of the manufactories stopped, and .merchants and traders ot every class failed by scores in every direction. Still the rest less fiery steed, with all the power and speed of a locomotive, with long and huge trains of pas sengers and freight, continued to pass over the roads increasing the number of passengers, the amount of freight, snd what was still better the permanent popularity of the roads with every day that passed, until confidence was again re stored. The revenues from these works, as we have intimated above, gradually and steadily increased with returning prosperity, until they have been ultimately found sufficient lo keep down all inci dental expenses pertaining to their construction and present operation, and leave a sufficient sum in the,hands of their treasurers to pay a handsome dividend upon the capital atock of most of them, varying in amount from three to twenty per cent. This result or final triumph of this great and no ble experiment, both in this country and through out Europe, hsg been of such a character as to satisfy the most skeptical of their practical utility. In fact, experience has proven beyond cavil, thai if they bad never paid one cent of profit in the way of dividends to Ihe stockholders, the advan tages arising from their construction by the in creased facilities they afford the communities thro' which they psss are more than sufficient to pay for their construction.' This is one, and probab ly the greatest reason why Rrailroads are at this time in such high favor with the people in the New Englnnd States, where all classes are taught to lok to rested and trace all effects to ihe right cause.' o 1 What other system or species of internal im provement has ever taken such an abiding hold on the feelings and partialities of the enlightened portion of the American people as 'hat jf Rail roads I , None. Canals, Turnpikes and Macad amised roads have ell had their day of popularity and public favor ; but that day has passed, and their popularity has given way and disappeared before that of Railroads. Is this change in pub lie" sentiment any way remarkable, wheit we reflect that wherever Railroads have been com menced and completed as originally designed especially where thyy baye been laid with Titon without an exception lo ihe contrary, they bave invariably proved profitable and increas ed iq popularity with each returning year and rising aun. This is tbe grand secret why the people in Ihe most enterprising sections of the Union have gone into these immprorements so .extensively. And had we no other argument lo advance iu favor of Railroads, ibis single state ment, taken in connexion with tho further fact lhat within the lsst fourteen years there have been constructed by dint of hr4 labor the rise of six thousand miles of brse roads at a mt of more ihacjbree huadred millions of dollars, would be sufficient to, convince any reasonable man of their utility and, advantage. Put we have ano'.ber argument in their favor a more powerful one still, and one which tbe enemies of internal improvement wilt find it some .what difficult lo answer. It is this s Wherever find ibe greatest number of miles under contract aod tbe most strenuous exertions being mad lo have new onea laid 08. ; : f That we see thai txptrtenet under the sever est tests possible, has decided in their fsvor where ever tbey bave been fully and fairly tried, m the iMarto, oouin, jbast anu ty est, to sucn perieci sa lis! action that in most ol the Slates where tbey have embarked in internal improvement with a iberality something like commensurate with their ability, tbey are now becoming weary with the tardy progress of navigating good river and ca nals with steam, and actually now expending the rise of twenty-three thousand dollar a mil lo construct a Railroad along the banks snd often over the very bed ol the broad Hudson and oth er fivers is the State of New York as Is also the case on the bank of that stupendous work f im provement tbe brie and Hudson canal. these facts, ss hastily-as tney bave .been thrown together, are sufficient t trust to awaken interest enough in sll whs may have an opportu nity .to peruse them, to lake tbe trouble to exam me carefully all tbe statistics relative to the. coo st ruction, cost and profits of the same, I may in a future number give tome that 1 deem absolutely indespensable to my purpose ; but from the very nature of circumstances 1 cannot go into this mat ter as I could wish, and therefore shsll have to call upon the reader to examine them more fully and minutely for himself st hi leisure sstisfied in my mind that he will feel himself well paid for bis trouble snd rise from his tsslc mere de voted friend of internal improvement than be ev er before has been. ' All that is wanting to kin dle a blsze of enthusiasm in favor of the propos ed Central Road in this Stste, is for the people lo become theoretically and practically acquainted with the operation of similar works in other States. EXCELSIOR. Guilford county, Feb. 12, I84U. . j i . Tor the Patriot. ' BANK OF FAYEITEVILLE. Messrs. S waim dc Sherwood : I see by an ad vertisement in tbe last number of the Patriot, thai the commissioners appointed lo superintend the opening of books to receive subscriptions lo the stock ot the Bank of Fsyetleville, bsve discharg ed tbat duty, and are now ready to accommodate all with an opportunity of subscribing who may have a desire to do so. I have seen and perused the charter grsnted te this Bank by the last Legislature, and find that it is a very liberal one in all us provisions and re quirements.' Persons who have surplus capital on hand, or money invested in any way that is not yielding more than six per cent , would do well lo em brace iHis opportunity lo lake Block in this Bank. By thus inveating ibeir funds, tbey would be gainers in three respects, if in no more. In the first place, they would realize a sure semi-annual dividend of more than six percent s4e4he-eecood place, ey . would be edding to me canning capital oi ins -state, wnicn.jiceaa greatly lo be enlarged. - And in the third place, they would by taking stock in -this institution hasten the day when a Branch of said llank would be located in Greens boro', thereby accommodating a large section with banking facilities and advantages that bave now to depend on banks at a distance. That the banking eapitsl of the State should bo increased is evident from the following facts: -The banking capital of Virginia is, if I mistake not, something like nine millions ; while that of South Carolina, with a population less than North Carolina, is seven millions or upwards. Now, if this amount ofvbanking capital can be employed to advantage and profit in Ihe adjoining States, it is certainty important that our should be in creased to more than three millioos. ' This defi ciency is rendered more apparent from the prof. hrtt realized on capital thus invested, aod from the fact that many buainess citizens of this Slate are compelled to go to the adjoining States of Geor gia, South Carolina and Virginia before tbey can be accommodated with a small discount. I have thus called public attention to this mat ter because I believe it is one of great importance to the public especially so to those Who have money to loan or to borrow. Persons who lake stock in this Bank will find i of great advantage alike to themselves and the public generally, from the fact that there is a demand lor more banks, and that there is no bank in this State but what from ihe commencement of its opera lions hss declared more than aix per cent, diri- dends, on an average, to the stockholders. The Commercial Bank of Wilmington, which is one of ihe smallest banks in the State, the Chronicle of that place cays " appetrs to be in a highly pros perous condition. It has just declared a dividend of. 4 pcLCen of 5 per cent, made in August last, i t qoat to six pr cent on ibe whole capital from the commence-' ment of it operations, with the 3d and 4th in stalments on stock not yet called in. We- learn that the expenaesof plates, printing, stationary, dec., incidental lo the organization of ibe Bank, were paid out of the first year's profits, and that after making the two dividend,' amounting to 0 per cent, for the 18 months, there is left a snrplos of over U per cent, to form a contingent fund." I shall add nothing lo this sietemeni, farther than to repeal what 1 bave above slated, that there are books now open in this place to receive subscriptions of stock in a similar institution to this of Wilmington. Your renders who have capital can think of this matter, and act ' as their judgment may dictate to them to be prudent. Either of the commissioners will, I presume, take pleasure in imparting any information that may be desired by persons wishing to subscribe. ....... GViLFQRD- Greensboro', F?b. 1,5, 1849. L For lb Pstriot. I find in tbe fifth column, second page, of the lasl No. of tbe Patriot a piece headed ACuriou Calculation." If its statement are worth know ing, tbey are worth correcting.. In the first place, a million time a million is ; more than a billion. In tbe second place, a day will produce but 288,000 and a yea-of three, hundred andix ty five diy 105,126.000. And 6853. which i the tiiheto the present, will produce 3,070,336, 800 minutes. ' S. F. G. and the, Senate addressed by Messrs. Allen. and l'earce. ; , IIocsi. After considerable discussion. Mr. Stephens's resolutions relative lo the, treaty with Mexico were adopted. 147 to 34. " L., ; . - , . tTbe resolution of Mr. Stephens ask the- President if there does not exist a protocol. signed by the American Commissioners Sevier and ciinora, ana me Mexican Minis ter, Rosa, declaring that ihe amendments of ihe American Senate to t he treaty were mat ten of form merely , and not substance. If the protocol does exist Mr. Stephens 'con tends It anuufs ihe treaty. Tuesday, Feb. . v Sbmatc. The South Carolina slavery; resolutions were presented by Mr. Butler. Mr. 11. addressed the senate on the occasion. After other morning business, the Panama Railroad bill was taken up opposed W Mr. Underwood, and supported by Messrs. Dayton and Webster. , House. Mr. Edwards from a select com mittee, reported a bill to prevent the paten ting of medicines, not, however, interfering with present patent rights. He said thai. Congress had passed a law to prevent lhe importauon ot adulterated drugs and medi cines, and this bill was to carry out the de sign to protect the public health. The naval appropriation bill was parsed;; all the amendments agreed to in committee were concurred in. with one exception, rix t Ihe abolition of the spirit ration and an al lowance of four cents in lieu of it. Tbe vo te was 92 to 71. --"' -.--- trcanctaay, rco. 7. Senate. Mr. Dix, from the Committee, on Commerce, reported, with amendments, aud accompanied by a report, House bill of" last session, for the repair and completion or works on rivers and harbors, already com menced or completed, and for surveys of cer tain otner rivers ana narpors. I he bill embraces almost every character of improyemetits.and involves almost every (Mincipio uiscnsaeu in connexion wun tne. subject of harbor and river improvements. Mr. Benton asked leave to introduce) the- bill of which he had given previous notice,, for a National Central Koad from St. Louie to the San Francisco on the Pacific, with a branch to the Columbia River in Oregon- and proceeded to address the Senate, at. length, iti. explanation and support ef the project. ... House Wentintocomntiittee of the wholtv . btfthe annual fortification ibUL wlieii the territoria question was largely debated. Thursday, Feb. 8. . Skxati-. Engaged on private bills. Hoifst- A long communication was re ceived from the President, (enclosing a re port irom ine secretary ot state,) with the information called for by Mr. Stephens's re solutions, in reference to ibe protocol to Ihe Mexican treaty. In the course of his mes sage, the President argues that the commis sioners did not regard the protocol as part of the treaty. They knew that they had no authority to alter thetreaty or modify the a mendmenls. Nor would the President of the Mexican Republic hare regarded the protocol as modifying the treaty as amend ed by the Senate of the U. States, for no re ference is made to it by him on its final con summation. The President then proceeded to notice the amendments of the Senate, to the origin al articles, and to argue that the changes do not change any of the guaranties of rights, civil, religious or political. . Friday and Saturday, Feb. 9& 10. No proceedings of general importance in either house. The President's reply to the inquiry in relation to the protocol of the Mexican treaty was received in the Senate on Friday. On Saturday Mr. Milliard ad dressed the House, in committee,on the terri torial question. as-"--a s Advertlslns; Balea or the ratrlai. One dollar per aquare (15 ! fr and 25 cent, tor eeery continuance. Dedue Km made in taor ol standing adveru.en.ent. y lollewe RAILOAORS. , There may be uncertainty, a lo which Allan lie city belongs the Credil of mskine; ibe first suc cessful movement in the construction of a railroad among the earliest, are Baltimore and Charleston and Boston, New York and Philadelphia were nearly simultaneous in ibeir merements. Bos tea " however, ha been more wise, or rather more for tunale than the others, and now enjoy railway advantage by far superior to any city in the world , London only perhsps, excepted. Very toon, tbau '. advantage o: railroads become familiar lo all who read and travel, and the impulse was given in every Slate ofihe Union, causing eiraordinary ' effort and outlay to secure their benefit; yet it it certain, that few of us justly appreciate or esti-y mate the comforts, the benefitt, and ihe influences. which tbey have already given to man. Although Railroad were first used in England' and next adopted by us, tbe system is not coofin ed to those countries wbeje the Jgngluh language is spoxen nut t exieuueq rmtjgnout .urepe into ihe besrt of Russia, and ajso to India 1 and,' it my be safely estimated, that the entire expeov diture, wHbin the' last , twenty-rie years, in the. projection and construction b? railroads, will pot fall short of one thousand millions of dollars an, amount, enormous as it is, that will fall farsbor of the increased value they have given to proper, ty, besides their influence in facilitating business in reducing the expense and lime of irl, and, in opening op new region of eountrjr,; t These benefits and ibese influences are, as yetK only beginning to be felt-ihe time Wilt coma when all our grea.t ihorougbfsres, from the AUSR tic cities to the extremes of every part of our court. tryeven e ths thoret oj ine racyic ucean "will be bv railroads ; and these main lines will be - . . . ,-r intersected oy mousana oi connecting ana ora.acu , railroads. Cincinnati C(actttx . One rquare, ; , JJJ! Twoquarea, ,' 7.00 "Three c Hoott Ilall co!u:nn, , : . 13 00 i5:.:;:;:-;i....r;.,::;.. 5 50- 10 01) SWOO -tiO 1400 30.00 30 PLOUGHS. X:ry:-.:,-: ;V-t F tbo manufacture of C H Richmond a mpa. rior article for the soil or tnia victnKy for aaJe O at the store of March SU,18 J

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