North Carolina Newspapers

T i.-v -( rV' - i a o. H K K AGLE, 1 i I T I I TTTT-l-x. -- . l v!it?Zf'y VY THURSDAY MORNING AT ." . native t . .... ,4 x p r i L Lj K , ' . - ' v- ' r - - - ' ' ' ' 1 . ' ' '"'-. AI., T McSween EDITOR AITD PROPRIETOR. THIIMS OP SUJJSCUIPTJON sil ,k tt f.-,Oneyoar $3.00; -r r w oi ten, or more T;) y; .T ' .yr hera. Ministers, I nn hiGLKHt hMjf nrice. RATES OF ADVERTISING: Oao Joil:ir for oue ijich of space lengthwise mauy colnmnfor lirst publicatiou. udfiftv -.-iits lor vv.fh ?.:iUlitfttioii afterwartls. Or bv ino tach vt space, , 1. mouth " ' ! 3 inos...... " " 1 year ...... T-o inches, on month ......... . ' " thr e inos . . , iuos " one j- e:vr ...... .. Oue fourth of colnian (5i inches) One mouth ' . Three months .... I Ono ymr. . .":" One column (22 inches) - One mduth. . I . . . ; i. ..... v $ 35 00 A" Oue vejir...... '. . 100 50 $2 50 . 5 00 . 9 00 ir oo . 5 00 10 00 -18 00 27 00 12 00 24 00 55 0 "7' ,1;' .- j - - " ; ' V . :i U 1 -f'li M-nh. ..''V- ;:.j.'a Vox,.' VI. No. 17. FA YETTEVILL., , N.' CI.Tf I jiGd2V WoVfviBERli?.!. r WhivN ly to effect Iords. Hcporl or Slate Treasurer. . VaS. la'natory remnvts of Treasurer Jeulcins KCoorapanying lus annual re port. S t.vi i: or "Xokth (.'Ikoijsa, ) TilKASlhY I)LPAKTiItXT. Ai-in-a, .Nov .121873.3 .s- KxcdU- tj, Tod JL CalJmlf, Gof er nor o f Xorth CiiioUna. . ;Sti:: 1 h:ivo (he byoi to submit tlie i'-pnt of this Department for the fis- -i! year, tin! in g with t'ue COik clay oi S -i.tember, 1873. The usual stateme-nts are appealed 'i'Lo etiera-1 ai)l fiuitiuiary fctateuients Qcational nncl Jublii FqucIs i sStil.it balances to the credit of ' the ii -apt-dive Funds, as follows: Kdiu-ational Fiuid, l'J.-GSOi 1'itbli-j lii d, 0,927,-10 Totni ' ' 29,S95,79 Sti-Jrients A and 1) exhibit the, re ceipts afcd diabnrsetnents of dEuca tioiud Fj.tr. J. The . receipts were derived from pources as follows: . Kutrics tjf vaeaut lands, 63",41fi,28i Fines forfeitures and pen- i nltie.s L 1 0.418 Jj(J KetailwiJ of liqnor, L'3,122,98 Auctioneers. 317,71 Monevs refunded (Com. school account,) Interest and premium on U. S. bonds, Dividends from Uoanoke Navi"atiin- Company. 878,75 1,498 25 250 00 THE I-L'BLIC DEBT. Statement E: exhibits in detail the ooricieiitbt of the State, amountine- a - - in the arrffrepate. not including inter est, to 29,547.045. I repeat the remark made iu rax last animal report, that, although the acta aninojizuif? the issues uf snMHil tfii bonla had been repealed by the act of Aiarcu bllr, 1,0. Idjd nt feel anthor- ized to omit tketa iu the statement.of tlie debt. Tbey, therefore, appear iifc,ain i ii iue report. , - : t L Arcompauy(ng the stfttcment of Jlue debt is n statement , parked giiiDg in detail the amount of interest doe on each issue of boa'd?. amounting in K-eduoSi $297,1500 by VUq ihrreudfer of bonds to tbat ambnwt by W. J. Haw kins, President of - the 'Raleigh and Augusta Air-Line Railroad Company, formerly known under the corporate name of the Chatham Railroad Com pany, in redemption of the mortgage of 2,000,000, held by the State, execu ted by the Chatham Railroad Corn puny under the act of August. 15tb, 1SG8. Seventeen hundred and three thgusaud dollars of the bonds issued by the State to the Chatham Railroad Company, under act 'of August 15tb, 1SGS, were received in this transaction under a decision of the Supreme Court of this State, in connection with the above mentioned $297,000 of bonds. These bonds ($1,703,000) are a part of the isMie of $2,000,000 declared uncon stitutional by the Supreme Court, which have never entered into the statement cf the debt, but for which the S;ate held the mortgage of the Company and a like amount of its bonds. The bonds of the Company ($2,01,0,000) h eld in xchange were sur rendered with the mortgage. The ' Company was authorized to redeem the mortgage by e-hapter 14, Laws of Special Session ISG8. and chapter 11 Public Laws 1871-72. The iuterest on the bonds received from, aud surrendered to, the Com pany, amouiitin-r to 570,000, was equalized aud adjr.sted-to the 1st of July, 1873. S84,tH5 of which being on the $297,000 of bonds Jjereiubefore mentioned, the interest Btatenient is actually reduced that amount. 5 A further reduction of the principal was made by the return to the Treas ury, by John G. Williams, of $36,009 Evtn this ft,. diiideufl'paji!- the rest of tbtc!. irsfiej, on nc. to $2,865,000 Uar nudtfaM Talis, Tho Insane AivIum, ' $ : 71,000 Kortb Garofin-i R. Ii., 2,794,0(10 , v Th'. bonds iisa ed v for t h Nor Catoiina RaUroaJ Compasj r mads by the ch arte r f t h o 1 Co to pa o j. a lien on vibe 'Stat steek ia the pauy. . The boud-bolders, ander a ds ree of ths United Stales Circuit Cetiri, iir ths suit of Swms aad ptbtrils; the Korth Carolina Railroad Compa ay a d e t h era, - are - now ; reeo ivtng the diTidsnds - and will no doabt, at Isast when the;. bonds become due, obtain the stoek itself, if they: so desire. 2. The second class of bonds eon sists of thOjio iBaacf si th wr, tui T A nJ -sr ' " T man3'ears nou rractieatly 'as to ." except thnt con Aijlam, imjVfp baanpthliighar tier io iuo.!:- AldeflvV'. OHeratMH.'yf"'.' trT-d- ; Thr"!' 'vju i di:n ment of the ir indeed," U " np. : eai. in liave ecu u "notable d ; , pf 'ftpTitli j air mnfitl' iiillt r- fl : njSr Utiyei-H tiring ,tU d inot , U.iuv - ...w-y-.,. . . ., ( iih 'nnii in. - : - -.--- ; . . h- ! Carolina- -RaUi oad ' Coitfpjiny. t ith Cotton "aiiif the Prospect ' 'v r! x v-ouiaineu iu uccrcerv f From thM i.io r euu i raupa w ino Uiv iuenun jif..; ; - : - - & -Hs'ihrentencd ionnnlW "fh-'t.fiv AMrtJLf The tottOff rccei increase or pror.t,u rine-pafeCc the Lai:tial JOpBfttiDQ;n .u ...l; t ;i. w. .Af ' i:!5! ! 88ii rt2lrf faardtv been exnehed 1 here lu the dnninihod h.nlca tnJ. ; Bucb gWiiUopTOremefttiiUh4 ba the case, wit ftfU-oa tower bUapl ence f 1 isillrf,; tnoWH,.enl nuain .JThntibttih la the true l.aaig aU rjtrrcQ- nntumn . 1 ut, vr,lha, iihm-t. ' .: oMhU nhd cor.mon lo.sent of the oiHn-l t nhat lillla m doo, .l.ulUuao , niMi ran oe fiono wnci rtn v . - Chavlotts Democrat pts iirthts CHy have Kvyt general .'Jl" r)u".. ' strength Ihnt bftw alt nlt.n cjn:tt:mf - iieI . it,' since jlrt.vBmwncemeiii' Vf ' our; laic peeuiar pxpeiep , 'indi'eatiotia 'nf hcnTincs and " uf.wcj ?1 TTIhnington, Charlotte -and Rutherford Rait Hoard, Western North Carolina Railroad, $484,000 2,394,000 Total principal, - $2,728,000 These bonds were sold for not over about sixty cents on the dollar for ear renoy, when gold was at a large prem ium, netting to the company consider ably less than fifty cents in gold. I have already stated that the iuter est of the State Las be?u altogether lost in the Wilmington, CharJette and Rutherford -Railroad Company, aed it is probable that the same will sooner or later be the case in regared to the Western North Carolina Railroad Company. . ' 3. There is a third class of bonds, issued during the late war and, for that reason, not marketable, bat hav ing been for internal improvement purpose should be included in a gen eral settleujent of our debt Tta: Wilmington Charlotte & Rutherford Railroad of tlie linmln iunnJ nn .&MMBfef tUm Total receipts, $41,705 011 Ot this Janiount the Permanent Fund received Sl3,137 32 , and the Income or Distributive Fund. S25,5G7 69. The expenditures on account of the l:r:nnne!it Fund are $19,404 29, be ing investments in United States cou pon bon4H. The expenditures from the Income i-r Distributive Fund are as follows:- ( 'omnion school.", Expense acconnt, Poll tas.refnndetl. Accrued interest on F I. olid?, : S. $62,614 07 FJS'55 558 31 .281 9G $63,602 89 Adding difebnrse.mer.ts from Permanent Fund, ; 19,404 29 flakes total disbursements, $83,0018 Statements C and D exhibit the re ceipts and expenditures of the Pnblie Fund, the former amounting to $481, 224 9U, and the latter to $524,108 47, for a detailed statement cFwhich I re IVr to the report of the Auditor. Tke'Tr?Rsnrj during the past fiscal year Las not been free from embarras ment. It is seen that the balance to tho credit of the Public Fund on the 11 of October last was quite small, though the Educational' Tnnd was in a better eendition. The Penftentiary being provided for by .special taxation, received the benefit:of only such funds as were re alized in this way. There wer-s specific appropriations for the Insane Apjlnm and the Insti tution for tfie Deaf and Dumb and Blind, $70,000 for tbelormer and f50, 000 for the latter, including $5,000 for repairs and to provide for an existing deficiency. To meet these appropria tions a special tax of 8 tents on the ?100 value of property was levied. This tax brought into 'the Treasurv 97,377 46, making a deficiency of more than $27,000, which Was sup plied frhm the Genral Fnnd. While the State (irovcrnmebt in all its Departments is' administered as i-eonomicftiiy as its system will admit, and notwithstanding a very material lednction of its expenses has been made in the past two or three years, it sufiers embarrassments to a greater or less extent each year. ' This is due solely to deficient levies for raising revenue. The reduction of the tax levies was below the ratio of the re duciion of expenses. It is expected, however, that the existing .Revenue act,, framed upon more liberal ideas, aiul more definite calculations as to tLc needs of the Treasury, will, to a great extent, if. not wbolly, releivo the present, and provide -against further embarrassments daring the current fiscal year. Although the fund applicable to gen orallexpienses bad become nearly ex hausted before the close of he fiscal year, the early settlement of A number of Sheriffs of taxes for the year 1873, two of which occurred before the 30th of September, rendeied it nnneceasa jy to exercciee the authority given me by a resolution of the General Astern 18C8 Tb surrender was -made by authority of the act of February .17th, 1S73, entitled "An Act for the relief of John G. Williams." All interest on these bends, $13,410 of which bad ac crued, was likewise surrendered. ' By the two transactions above men tioned the principal of the debt was reduced $353,000, and accrued inter est $yS,0S5 adjusted. i I again call the attention f the General Assembly to the necessity of Company, Western N. C Railroad Company, Western Railroad Con- pany, $493,000 220,000 , 200,000 Total, $918,000 4. A fourth elusB of bonds eouslsts of those iist!d to take np past dua interest, viz: , Under the Fundiacr Aat 1 of 1S6G, i . $2,417,400 Under the Finding At of 1SC8, 1,711,480 yalat net ex til estate oi'$$2$W$ml!Vb 10 wou M vred .cd:.f.itWel ebt m ii cb I aarunable 5itracomMm .ilinHiT-itd-rbeViiTa ka-I.eMf iho to personal ro ttv -becA' Court.- notaxed accofOng,to. iiyU..-jB nt.il ."ifcs-mosi fcsTblo plan t'r r. tl ,uuv iiiero nas been a similar retrojrralo as to both I have goie rtto this matter in such detail because those who sneer at our not paying 'iiterest-' on" tho public debt ignore the fac ts of our sitnation. Omitting special tax-bonds alto gether, the interest on the rest of our debt, supposing our accrued interest 16 be funded, would be $1,40,663.99 per annum. ! ,! : ., To this add the expense ot support ing the State Government and it will be necessary lo iraise $1,900,000 per annum or 1 and3-5 per f tent, of tho real and personal properly. Add an amount for couuty taxation equal, to ana we have ontfiide tho 'towns and cities, 2 1.10 percent, of oar property . And in many of kbe cities and towns tbe levies, for municipal purposes are as large, ifnot forger. Now add as the holders of special tax bonds pro pose a tax of $85,090, or of 1 per cent, on the property and we 'have a grand total of 2 and 8-10 per cent. It is manliest that our peoplo can not and will notjpay such enormous levies.. Any attempt to enforce it would result in total repudiation. Even if anyf General Assembly. should vote a ley at present, even omitting special Sax bonds, the people wuuiu iHTurvu iiieirac'iion iil uiu next with a ,tax lovted tij the act for the pay men t . off the inteiTSt, , holders of bonds ol the Slate tor be allowed . to surrender the same and 1 receive ike new bonds at 1ueli rate by way of compromise'.-as" might bo prescribed' by tho General . "Assembly. I would rnercMl world has tnadrvtt'n Corel Saliva with. gold. .One year ago tot. ton waa selliag In this inarkotiti .17 t-ents per poand, while g' Ul was 1 1 V To-day wa ray aWta oolt n t bo"1 ; goll ia vrealcat . 1'... '.' Itaco' Ta these fact may b added Uio om- er.lkat taa crop i a this section is thia year at least one-fourth larger than ever before. Thus it is soon that gold is six aents nearer pur than two yoai ajre, aud that cotton is four and a half eeats lower. A man who produe'ed respectfully snsraest that one of tho iUri bales ot 400 pounds teach last year new bonds.be offered for two of theSot lor lt $C0.14 in gold. This year old or ante-war bonds, those issued to il0 SvU in gld for 4,000 fund tho intereslof the nmnf tih-nt. pounds, but having raised on tho ten lninnl !..n C .1.. L- . I . , UBVPi) OUR TOIll'tll ITIItl' iiuiiiinui.viis lur iiueu or an oilier aarcs one fourth more I'olton tho val bonds issued since the war, except! aa of that must be udde "Pttariy an tue uonu 4-TneTpaT ,K1 ex making some provision in regard to tbo debt. Ihe statements sbow in extenxo the amount of the same; when due and for what purpose issued. It is seen that the entire amount, exclu ding special tax and nnconstiintional bonds, is $17,881,645, with past due interest, say 5,506,154 85. For specific information I diilribate the same as follows : 1 Old or ante-war bonds, dated prior to the war, total 1 $ 8,378 200 Accrued interest, 2,513.460 Total. S10.89LCG0 These wcro sold by the State, or" by ta agents, on an average at par for gold. There is no charge that their pro ceeds were not honestly expended, although in some instances the invest mentswere unfortunate. For ex ample the following enterprises, for which $291,000 ibonds are outstand ing, arc almost if not quite total fail ures, adding a little, if anything, to the wealth of the State, viz: Cape Fear and Deop River Navigation Works. Fayetteville and Western Pland Road. Neuse and Tar River Im provements. Faj'etteville and Centre Plank Road. Fayetteville and Warsaw Plank IwoaJ, Tar River, election. But I am stroj good policy reqt mem oi ice pi dangerous;- The $145,500 50,509 25,000 45,000 10,000 15,000 a. - . lanaea un Kbe former aet were for old "bonds matured aud far coupons of old boada. Tboseissned under Iba Fnadiag Aet of 1868 were for old bonds aaatared, all rtcognized bonds tbat bad baaome defacad and mntilated, bonds of tba denomination of $100 a ad. 209, cou pons of old bonds and eoopoaa af bonds itBued siaca tba-war ta iha Wilmington, Charlotte and Rutherford Railroad Company, the Western N. C. Railroad Company, and ndar taa Fundiccr Aet af 1866. Bat nose were for coupons of 1 Convention "or spacial tax bonds. , " 6. A fifth alasa of bonds tfaroprisea those issued under ordinances or aata passed since tbe war, viz: . To Chatham Railroad Com- pany (now Raltigh andfr, 7 Augusta Air Line) under ordinance af Convenlioa of 1868, $1,200,000 Williamstoi) and Tarboro f Railroad Company, 150,000 1,350,000 Tbe bonds for the Chatham Railroad were disposed of, it is stated, at about sixty cents in currency. What amount the $150,000 to the Williamston and Tarboro Railroad brought I am natin formed, at any rate tba investment has been disastrous, and now tba in terest of the State is entirely lost by sale under bankmptey proceedings. v . Laetly are the "speoial tax bonda' ia the . agregate $11,407,000 detailed as fullowb: I : . l .;'..:, Wilmingtao, Charlotte and . Rutherford Railroad, Western ' O. B. B , (Eastern Division, Western N.' C. Ii. K, (Western Division,) Western R. R., (Coalfields,) Williamston and Tarboro Railroad, Atlantic, Tennessee and Ohio R. R-, (outstanding,) Total, ' $291,000 The following enterprises for which $4,210,500 bonds are outstanding are not failures, t. e. they add something to the prosperity ef the eoantry, but the interest of tho State iu them has little, if any, market value: Atlantic &'North Carolina 11. R. S 1,851,500 Albemarle & Chesapeake Canal, - ' 324,000 Western (Coal Field,)R.R. 386,000 Western " North Carolina R. 11. - 1,136,000 Wilmington, Charlotte & Rutherford R. R., (now Carolina Central). 1,013,000 Total, 84,210,500 . The abovo Companies have never declared a dividend. The Wilming ton, Charlotte and Rutherford" RaiD road Company has gone -out of the hands of the State altogether'by sale of all its franchise and property. ' The following investments, for which bonds now outstanding amount $8,000,000 278,000 6,367,000 1,320,000 , 300,00 147,000 $11,407,000 Of the above the first million of dol lars of bonds issued to the Wilraiag ton, Charlotte and Ratberford Ban read Co., were sold, it ia said, at about fifty eents in the dollar, and tba pro ceeds were used in paying tba debts of the company contrasted oa eon struotiea aoconnt, bat the tesidaa, abut $2,000,000, were sold at a baavy sacrifice at almost nominal prieas, aad tbe oompany derived little baeaat from them. Tbe same may be aaid of those issued for the Western N. C. R. It. Co. At any rata but Httla weak waa dane on tba road from taeir proaaads. Tba bonda for tbe. Williamston ajid Tarba ro R. R. Co. were sold at batter rates, but as aaid above, tba State baa lost its entire, investment The Western (Coal Fields) ;fi. R. Co.; derived ha benefit worthy of saeutioa I from ' tba $1,320,000 issued for tbat Compaay. The foregoing statements sbow that the experieaoe of tbe State ia Railroad and Navigation enterprises baa beea unfortuaato witb one exception, the North. Carolina Railroad compaay. Ty:Of opinion that es a speed v adjust - oliC' debt. .Delay is interest is accumu lating.. The popilar mind is becom i off accustomed to the alternative? of repudiation JD.dr good fame ia Ptijr- iaa; ill-bumo anuVonscquenl denuei- alion of oar State lot only affect the eradit af the citizens, but operato to drive of immigration and capital from our limits. The rs-astablishment of the public credit will besides tend to nerve our people to greater energy in adherence le their' own contracts.' Nothing so mueh tends to impair morality in the citisen as the spectacle of laxity of principle in tho commonwealth; . a ' . And then the restoration ot credit is. essential to any future negotiations for borrowing money. The bonds of the State, if allowed to remain out standing, will be a perpetual reminder of our breach of faith. In all financial circles they will be exhibited as proofs that any new ventnVos in our securi ties will be as disastrous aa tho in vestments in the repudiated securities If, however, we can compromiso tho debt, any sacrifice ihb creditors sub mit to will bo charged where they justly belong, to tho terrible losses of tho war - ''!"; Vj'jOH I bavo already staled thoso losses as demonstrated by tho present con". anion oi toe inveetmeni" cuiureu kilo by the Stale. It is iot necessary to add to the list of the, enormous des trnetion of our property by the war, the annihilation of or system of la bor, the ruin of ur Wealthiest people by tho abolition ofslyery the death or disabling of. multitudes of our young men in battlei or by disease, the sweeping away jf our personal property, our horsesjonr cattle, our farming implement?, Ihe deterioration of our lands, fit is nit necessary to call to mind iWtffttg on a half-ruined people; of tboJriiancial troubles of 1867, and of the ihscnt year. Every fair minded roar i v admit . tbat if aver a State - cat flo justified in de manding tbat ci iditors should abate part of. their de Hands, proportioned to losses by caus isunibreseen by both parties' at tli time of tho cre ation of the deb that State is North Carolina. 'h It is said by p 'me that the General Assembly ought to surrender to the creditors all tlx State property ac quired by the cr ation of the debt and refuse to pay any more. I have shown that tn f vcral instances tho interest of the S ate has been acri Iced. For oxm pe . i gtato its lien on the Wibnit ;ton Charlotte and Ratberford Ra road Company has been subprdioat -4 to another rhorrt gage, by tbe foi -closure of which the road has passtt into other hands. Its stoek in the TV1 Mem. North; Carolina Railroad CoP' nf threatened by foieclosure of 'like mortgage". It would nave bfl lost a. year ago if the General Aembly had not au ali to the Supreme ted States. The sur- erosts, whoso value k as beea 1 inip1tMi or destroyed by tolantary aetipof the Statewill not have any ippejiuce. qf fairness-' In one case m considerable portion of the bonds nbt bo exchanged for stock of tbe tsift. I mean the North special tax bonds. As to the latter let a commission bo appointed,, whose duty it shall bo to estimate what por tion of the proceeds went into our public works, and report to tho Gen eral Assembly. "Then the Assembly can 'declare valid a part ot the special tax bonds proportioned to - such amount realized. ' Of course if any creditor should prefer to decline the proposal indica ted and tako h:s chances for belter terms hereafter ho could do so. ; Rut I am inclined to think that af ter a full explanation of tho poverty of the State, most, if not" all, would enter into the arrangement. I earnestly hope some plan will bo carried into effect. I greatly fear that longer delay will result in entire repudiation by inaction at least. Al redj' such, a policy is advocated by men of influence, und there is danger that it. will become popular. Prompt action only will defeat it. . -. I learn by the public prints that the Auditorand myself are threatened with a suit by the holders of special tax bonds. This would lie in effect a suit against a BOvereigu'Stale, prohib itedjiiy ihvvGousiUuUon the'LInUcd tho csttcinity. 1 am informed that tbo Governor and Attorney Gen eral bare full power to employ coun sel in such defence if not tl recom mend that such power bo granted by Iho General Assembly. That tho State shall pay these bonds in full many of which were fraudulently sold by the State agent, nearly tll under circumstances which amounted to notico' to prudent men not to buy, cannot bo entertained, ; in my opinion, for a moment. Statement G exhibits the stocks held by the Stale of the nominal val uo ot $21,707,700, and bonds , of cor porat'ons of the nominal value, in cluding interest due thereon, of $5,- 04S,400. Notwithstanding a small proportion of the stocks and bonds contained in this statement is una vailable, yet as they exist by virtue of transactions with the corporations, authorized by acts of the General As sembly and Ordinances of Convention. I dqem it my lly to make a full ex hibit ot them in in y report for tho in formation of the General Assembly and tho public Tho Stato slock in the North Carolina Raiiroad Compa n is increased two hundred dollars. or two shares,' the same having been bequeathed by tho lalo Edmund Dou- nell,-of Guilford count-, in his last will and testament, the certificate of which is on tile in this office. V Very respectfully, ; D. A. Jenkins, , 1 Slato Treasurer. , : gold, making a total thii year of $579 being 117.92 $2753. The getting really bf a cent less 61, being a difference oi tanners, thereforo, are only about three fifths in gold per. pound now than a year ago, while tbcro is uti apparent difference-, of four and a half cents. But many of our planters sold at a price higher than tho rate now cxhling, and many more will hold all except tbat which pressing necessity. compels them to sell. Let us see what will, bo the pros pects of such as hold. Tho present low prico of colton is due to the great est monicd panic which ever c:lme over this country This panic - has caused the stoppage of many of the largest Cotton Mills of the North, we do not hear lhat nnv in En are stopping. Tho cause of this panic it wild speculation in New York City. The country at large Was never more flourishing, the granaries of tho West are ovcrladon with grain, our. own section of the South, at , least, has raised- more cotton than ever before and has CQmencaror raising its own provisions; hence in the eounlrj there cannot, be -any actual Uistrefw. The I stoppage ot tbo NorlbcrnMilU f',rlur aearco nvxi Bprwg. ... v l ha nhvowa jmr but land thnrixed 48 1 Court ef the render of the The Counteufeiters.: At tho Ashe- ville Court, tho following counterfeit ers wcro ccnvietca: Jb raaier, sen tenced two yearsHdi penitentiary for passing counterfeit monev ; Adam Cable, R. L. D. Barclifield, Jdcf Lov ings and Sheriff Hyde,! idt Graham Ccunty, and Mrs. Pen naly;' were iu dictcd lor conspiracy to pass counter feit money. After the evidence, had been taken, they pleaded guilty ; sen tence, two years, and $1,000 fine in each case, except the woman ; who was not fined and was imprisoned six months in the county tail. She was iith manufacturer, see this and will endeavor 'to stock themselves with low-pricod" colton. Two or three months will bring case to tho money market, and tho Noi therni m an u ('at tar er, seeing Iho harvest his rival has beon reaping, will como into the mar ket, and the latter winter 'month -"or early spring will find cotton 'bringing li cents, or moropcr pound here, and our merchants enjoying a spring trade bey6nd anything of former years or even their expectations for this Fall. It is with regret that :e find, tbo misfortunes qf our' neighbors lo add to our benefits, but there can bo uo doabt from reports from the great cotton belt of Alabama and Mississippi, that the crop there is short and that lha estimato of 4,000,000 bales tor the year must be decidedly lessened. As soon as 'the fact becomes generally known North, it is evident that there mast, be an appreciation in tho prico of to staple To our farmers, how ever dark tho present, wo can sec no other outlook tor iho future than one of brightness. ' -ems to bo;upsido clou n, aiui mi my r great'iadunlnai tiitcrrst! of tk nnii . -r Try are in a state ol deiriorlia:aiyr. tj :u'u not "enjoying ;i innn u-. i ia: i. I for out yurioua tobavo.J ji!,- I ,Jver' a Ji'tjlul M V ai lr ' having" what sonie'otlitr 1-irgeTndiM.' tries at this limo have not, and lhat 11 A; steady trado in each anijl ill t lliem, and this without oxperiL nlyiig, as yet, to an appreciable ox ten I , ih inconvenience resulting from declining rallies. This' tan, bo said of hardly any other, great interest 'J'"fiiro Leaf Nov. 12th To be . Sold ton Taxes. The Fi nance Comniittco of the Hoard of A I dcrmcn were in session at ll-o'dtv Hall yesterday afternoon and ant li i -ized Mr. Scrvoss, City Troasurfr, l advevtiso for sale all properly on which Iho taKi'S are due and riMiiain unpaid. This sale will probaU, made early in Deceiiiber and i- lyint ered imperativeUl necesarv I t tlm purpose ot raising tho amount iuv"- sary to pay 1 tin interest uti Hi. bonds tailing duo in' January j itd I ti the current expenses pi ihe c-iy- g'v- irninent. It will be ibirccs.n y raise something like $"1 j00t) '...,i lu o k two purposes. ito'vviiid. '''"iJ f mt.li- I'll-. Rkcoverin(J I'iiom 3jHK; s. V ' Judging Ir'om tho jepMk.wh'u-li.re.t-li us from many :6oriurionV:ii Ti'oii.- in1 tho city, buiiw. twin diaVe iierivrd ut t ho conclusioo-f lh:ix U, '"ln a j'irun ' tojhe ninth of ajineif.', lib v'- inof gloomrwUh' .yr yf Ar circles tlirco Wek ugo Iia -; t i disappeared. The dry goodvhi'.d ; rapidly rtoOA'ei'Uigitttii'l CfAwV.u iu sales aro goiug oi,i)f Jliio;U !' of A. T. StowLA.t) , II It. I tit i. Co FwikvtGMjcWoi ftjA'.r.A"f:-.i I .V 1 avior. uiiu.oLbc.i.tteiVKiiowMliiliiiH. W w ...LIIUJ I n " ....... r r : . . . . i i i i in COO wnro antieipatei -.liolut? y.bu furniture Vhoio is jv'l.doijnj. n'l'b j M weather' ''bi fibri'Tyv'n up bi nesM. A'. J. 'fif-uhf. Mettiodist Singing. The Pills Wmmm 1 I urtAn. mm ...a nil . 1 . . tho" decadence of Methodist congre gational singing. , It says: Tho singing ot Methodism used to be grand a glory and a power. I. is not bo any more Ichabod is writ ten on it. Some Delilah has had il in her lap. That 1 Delilah is the mod ern choir. ; -It- has dono a miscrablo work it lias welt nfgh destroyed Coh lrcgalfotial singing. t It baa uiven us a substiluto. Aud, what a aubslltato It isV Solos, 'duct quartettes, and a ceaseless succession of new tunes many 3'f them after the ' most approved peratie styles'. The congregation sits by and silently witnesses tho per formances. That might do well enough for an opera-houc, but it cer tainly ill befits God's' saneutary. A million dollar'1 worth of "xlrh Ii leathers ro, imofMled ihb Ki.'l.i'inl cvory your fi'oin :lho CiJ I.G"d Hope. Every pound of ihuao i. alic 1 1 is said to.be woith fifty gtiiiiCa in l!i London niarlcot '" !i The CliiiM-so bai'e takVlfliilV. Iv tidulleraliiig their . t9?rflt tfU-n thoi o are 10,000,0.00 ,i&VMila .1.1 I.7.1. I which havt' heen toiiib'iiiiicd a-ni's!it for c-onsiinipt ion,' and loiiivs been given lo iim-i rlninU in Cl.in.-i l h.it, nil spurious -an will lu'ni'.b. t i-'bo destroyed. Some originality has at la-i .1 its w.y into tho uhituur) i'.inmi" -r V the Philadelphia huherf j "Lay aside his little troini.-r- Thtit our darling used t ar. Ho will never on earth want ihm, 'it 1 i.i ,1 no nas 'iiincu 1:10 gi i i.-n niair. If any body ;can read that ver,- with. I out shedding tears he may s.t.ly bo,., called a fiend in huigun lia;c Th picturo of a little boy climbing -., I !.-n stairs without his trouscrs on 1 very beautiful. . , . j .' j . J a j . . A gentleman aked a4itlv'd?V! what it was Unit made a person, fvvf.4' o another tickled him? i. j i , .5 ; , "I suppose it is the laigb!j 'iwg over Jiim," was. tho iustau,.rs,piv,,1 . Tho dwelling hou8o''6f 31, - .!'li' (. Alford, near Floral Coliege) ioiv-'iii county, was dentroj'ed by lire 'mi' Sun day .oighOGlh in., Jl'bo ('', Hoi g caught IVofii a dobvli vo ft vo f-'"'-'. . - On' sanuay 'J,ooo birtrs r'riiftf passed through CharloUooh ihcldt mont Air'Line. Itwas nhlppM fr.ini Memphis direct to Liverpool rrt lNcr folk. ' v"1 : , ' iLlJi -ii:l ' Railroad Mattkhs. There was a meeting on-Saturday, of prominent the keeper of a bawdy house, where personages connected with tho Rich- mono ana jjauvinv, viu. linn, and Western N. C. Railroads, at Company Shops and rumors aro afloat as to tho result of iho meeting, but nothing is yet definitely known; Re. persons going to ythe penitentiary ilport has it tbat arrangements were w'am irnrel,i !tnifinlr,fn wlmi-fl' aninrcd into ta surrender the l;a.fe, the men wore in the; habit of congre gating. Mrs. 11. Ii. D. Burchfield was tried and acquitted, on the ground that she was acting under compulsion of her husband AU tho convicted they how nre, awaiting transmittal to the penitentiary, ( Dr. Blackburno, Iieo Baker and - Butler wero indicted and have been committed for, safe kcepingto the Greensboro jail.. Thoso indicted east of the Blue Ridge will be tried in Greensboro ; those west, at Asheville. Greensboro New North Slate. . " ' T- ' 7 It is Said that the small pox pre: vails dreadfully at Rio, and tho Coffee trade is at a stand ttill. An immehso accumulalion of coffee has takon place, the immediate, consequence of which wilt bo high prices here, with sobso quent heavy decline. ond "pontsalidate tlie IS . C Koad luist of Salisbury with the Western N C. Road changing the gauge; of Iho N. Q ; Knad to conform to other gauges, and granting the rihl of wy from Greensboro to Charlotte to tho Rich aaond & Danville company -fur a con aideration.' This will require some legislative .action; which It is thought wilt be Ayorabo.Oreenboro Patriot y A j'idge at MontgomeryyUl ibama,' receutly interrupted flbwery? you orator wilb, i'HH.ori, hbld' i5n;' m), dear sirl Don't go anyjjighcri You aro, ibis court. There wilt bo a grand gntbcrla'of the Grangers ol the Southor.'rtrtcs ut tho Charlotte Faiiv -Aliv IKiuiyy W. Adams, Master of tlio li inhgo, will deliver an uddreKSoii thc'i;ini. . i j v t 1 Tweed Coitrs to Gi:iiE,-(A.,ii.R:: h instant in New York a verdict v.g ml ty wasA brought against V'i!biu M. Tweed, "'charged with corrupt vm ihe' use ot city fund,.-, mk..i lytthe counts. j . 1 ii ijf. . has VefiVot'if, f :i majority, to -rid(oi' .1 .i-om 1 subscription to tho Narrow .' Ila'.lroad. Catawba County A ' large 1 li 1 1 1 The Durham TAic'j ' ' ts -i ibe following: " , . two young invn wno v('i wending their way n'Mtn in ; I of licrii 1iL SllliiblV IliOl'lliU!' - might appropriately pay; 5 V.i iovu never fail.- to ma ! r h:it ' ' .' ;hu fiijds- . !';; Rut 'works H iUVrciit.waj f ''wi'tftinJ-V.'itl . " i. - Tbe'fo'ol enlightens and, tlhe uiw Waste nothing nlt-fViTrrAt' money nor talent. 1-