Newspapers / Carolina Watchman (Salisbury, N.C.) / April 1, 1875, edition 1 / Page 1
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Ine Carolina Watchman. ; . ' I r ' VOL V. THIRD SERIES. NO. 75.WHOLE NO. 79 . O 1 T TaHTTTItT t a tttT ! oauissDUJRi k. u , 1875 gULItHBD WIKKLT. J. J. BRUNEE, Proprietor ud Bditoi . J. J. STEWART Associate Editor. BATBS OF SBBCBIPTION WEEKLY WATCHMAN. On 10ft -t2.f 0 AD VERTISI G RATES t Rtniil (1 inch) One insertion $100 7 WTa K ' two " 1.60 juim for a greater number of insertions -Lurat Special notice 25 per cent, more In ssgslsr advertisements. Reading coice I itm r" for ch tTry in8ertion GUANAHANI ! . AH IMPORTED NATURAL GUANO. AGENUINE ANIMAL DEPOSIT. A MONOPOLY OF THI8 VALUABLE DEPOSIT HA8 BERN CREATED m favor of thia Company bv the Grown officers. The name "GUANAHANI !" 18 a Kegistered TRADE MARK at the United States Patekt Office, and all warned from making use of tbe same in connection with fertilisers of any kind. Carolina Fertilizer. CASH PRICES 160 00 PER TON OF 2,000 POUNDS. TIME PRICE IW PER 2,000 lb. paya ble Nov. 1. THE HIGH 8TANDABD OF QUAL ITY HAS BEEN FULLY MAIN TAINED, AND IT 18 CON8IDEBED Bf TH08E WHO HAVE GIVEN IT A FAIR TRIAL THE THE COMPANY GUARANTEE THAT EVERY CARGO will be ANALYZED BEFORE IT 18 OFFERED FOR SALE. Examine the Analyses and Letters of Prof. P. B. WILSON, Balitimore: Prof. H. O. WHITE. Professor Professor of ' j . .w;w m vs a. ivh m- - s iujv' anmimuivit a, ivu m v ofessor of Chemistry, University of Georgia ; Prof. F. A. GENTH, Philadelphia, Applied Chemistry, University of Pennsylvania. GUANAHANI GUANO COMPANY, PETERSBURG, VA.. BE8T AND CHEAPEST FERTILIZER MANUFACTURED. Fob raw Watch hah. THE DRUNKARD'S CONVICTION BY 9 From the Southern Uow. THE USURY LAW. May miss the Northern pole, bet The needle claims its own loved 'Tii aure to wander back again. And thus, when haopy fortune borne, From tbe sweet chance, A ansae. SariA. when the thwart i nr power hi 1 struggle to tny sine. In offering thia FERTILIZER to the Agricultural Community a Second Season we do so with the utmost Confidence, feeling: satisfied that the high opinion, we formed, and expressed last season based on its Chemical Constituents have been meet satisfactorily borne out by the test, by which all Fertilizers must be judged, that of the Plantation. Last season, owing to tbe lateness at which we commenced importing we were forced to pat our Guano on the market at once, but now having continued our importations during the sum mer and (all. and having large and well ventilated Warehouses in this City and City Point, we w.t 1 1 :i A. are enabled to put our Guano on the market, in a condition as to dryness, and freedom from Liberal alia aaVatlta- lumreaaal to any Manufactured Fertiliser. m n T . solicit a careful peraual of our Circular containing the certificates sent us, and which can geOUS lerillS IOr -Liaise be had on application at this OFFICE, or from any of our AGENTS. Having nothing to con V , s , i I ceal we made an innovation on established usage, by publishing those letters received unfavors- JuOtS VJl VeH Oil ADl) llCci- I b'e to our Guano, but careful inquiry in many cases proves that the cause of its failure was not , 11 owing to any fault in the Guano, but to those far beyond our control We have frequently 1 1 Oil I heard the same complaints of its kindred Fertiliser. Peruvian Guano, but the concurrent testi- I ,., f 1 I 1. P.M. 1 di . e t i i .i . ur - : r V .1. ...!: : . : f , ! r rx . a i 1 .'oiui u.iiuuua, jubiiij us ui cuunuugs piace ior our rerimzer superior hi iumij, auu ocnwu to .None. We confidently expect the continued patronage of the Agricultural Community and no exer tion snau ds spareu on our part to mane Local Agents at all the Principal Depots. DeR08SET& CO., General Agents for North Carolina and Virginia, AT WILMINGTON, N. C. J as. A. MeOONNAUGUEY, Agent, Salisbury, N. C. DAVIDSON COUNTY. IN SUPER- For oh! one moment hut to feel Thy essence sweet, more wealth On me, than Perin's mines Or tro den Oohir's boson While thou art near, on angels wing, How blest the moments glide away I Tbe morn bird scarce begins to sing. Ere evening stills the blithesome lay I But slow and drear, the hours draw by. When hindering Fates between us Sown ; Aa journeys to the pilgrims eye Grows longer, ss the day goes down I Ah I 'tis in vain the world is bright, And loved ones woo with gentle tone; If there I miss the glancing light And mnrmer, which are thine alone. And had I entered, through the gate. Which guards the sacred throne of Fame, And on the records of the Great, The Laurel wreathed my deathless name, Or stood I, with unwearied feet. Upon wealth's topmost, pear bet shrine, And sngel voices, low and sweet. Whispered, Behold 'tis justly thine. Then, even then, if thou shooldet call With thy loved fragrance unto me; Fd lose it Yes I'd lone it all, One moment but to fly to thee. And then though Heaven might veil in face, And earth regard with loathing scan ; Pd drink a wretch in foul disgrace, A drunkard yet a happy man t And as within my veins I traced The workings of thy mystic power; E'en while I knew that power erased Each vestige of my sinless hour; Still, still I'd quaff, and when at last, A consciousness no more was given, In slumber deep, myself I cast, A child of hell, that dreamed of heaven. They say, at last with direful fate, Thou bearest souls to Hell's employ ; But what care I ? That cometh late, And now thou'yieldeth naught but joy I But hark ! Whence wild, discordant sounds, Strings of my harp seems to prolong? As when the death ful arrow wounds, Some songster sweet in middle song I What ails the lyre ? Tell wb y is this Not sweetly, as of yore, she sings ? Because. I sang "Drink now is bliss.'' And the foal lie echoed on the strings t THE STANDARD FERTILIZER FOR THE COTTON, TOBACCO & GRAIN CE0P8 OF THE SOUTH. I IOR COURT. To Gray Wood Xon-Resident, You are here by notified that the following summons haa beta issued against you (to wit.) DAVIDSON COUNTY IN THE SUPERIOR COURT. J. K. Joxss, Agaixt. Oeat Wood SUMMONS. 1 STATE OF NORTH CAROLINA, TO TBI SHERIFF OF DAVID80N COUN TT GREETING : You are hereby commanded to Summon Orar Wood, the Defendant aboveuamed.il' to e found within your county, to be and appear before the JUIMJE OF OUR SUPERIOR COURT, to be held for the County of David son, at tbe Court House in Lexington, on tbe 6th Monday after the 3rd Mouday of March, iwr, and answer the complaint which will be deposited iu tbe office of tbe CLERK OF THE SUPERIOR COURT, of ssid County, within the first three days of the next term thereof. and let the said Defendant take notice that if m fait to answer the said complaint within te time prescribed by law, the Paintiff will tppl) to Us Court for judgment against thel Dsfssdsot ior the sum of three hundred and exty-fi ve 80-100 Dollars and Interest thereon nem the 11. Oct., 1872, till paid. Hereof fail not. and of this summons make return. Given under my hsnd and the seal of said Osart, this tOth, day of January, 1875. geeJ. C. F. LOWE, eritofthe Superior Court of Davidson County. Ton are slso notified that the above named paintiff has sued out an attachment against jwur property upon a Bond executed by you I the 1 1th tfay of October, 1872. for the sum three hundred snd sixty five 80-100 Dollars tth interest thereon till Paid and that ssid Warrant of attachment is returnable to the KpsriorOourtof Davidson to be held at tbe Court boune in the Town of Lexington, on the 6th oodayaiur 3rd Monday in March, A. D 1875 Ween and where you are hereby required to an w. This 15th Feb- 1875. n . C. F. LOWS. uerk of the Superior Court for Davidson Co. Fes. 25, 1876 ow. Printers fee $100 flonra Carolina. . a . Dayui Couktt! In At Superior Court. Frost, Admr. de bonis non of John Allen, dscssssd. Plaintiff. g wifo. William Allen, William CranfilT and 2wife.8arah J.Cranfill, Martha Allen, and BQHn Allen. 7t.. to seU Land for Payment of debt. m w -r :0: DIRECTORS. President, N. M. TANNOR, of Rowlett, Tanoor & Co. Vice President, ROBT. A. MARTIN, of Robt A. Martin & Co. JOHN B. STEVENS, of Stevens Brothers. S. P. A R KINGTON, of John Arriogton & Sona. JOHN R. PATTERSON, of Pettersou, & Sona. C. R. BISHOP of Bishop & Branch. JOHN MANN. DAVID CALLENDER, W A K. FALKENER. FRANK POTTS, General Agent. FOR 8ALE BY MERONE Y & BRO., 8ALX8BYRY, N. C. BURROUGHS SPRINGS. CHOHLOTTE, N. C. What! bliss, all bliss? Ah.no! the Of anguish from the mother's heart, And deep, still grief which fathers bear, Tells that there is, s woful part All bliss? ah! no. The spotless name, Virtue of soul, and genius lost, All, all with burning tongue, proclaim, Tli not ail gain, there is aeosf t Ah, yes! Pure truth stands clear and bright Grim Falsehood rolls his viel away ; And shapes unseen through gloom of night, Grow plain, beneath the eye of day I know, I feel, it all, and yet, I love the darling portion still. E'en though, beneath its fumes, are set Nigh sll my reason all my will. And I cannot cease. The sweet, sweet face, Of earthly love, all worn with pain. Entreats me from the strong embrace, But the gentle prayer is all in vain. I cannot cease, Hope golden-plumed Would call me with her tone so dear, To the sinning portals God-illumed ; But calls in vain, when drink is near. No, cannot cease. Ah, e'en, did Desth, Pale, hovering o'er the awful brink, Of mid-nighUnaming Hell beneath, Proffer to me the glass I'd drink. Ah, yes! e'en as I sing, I feel The fierce desire creep o er my soul ! I cannot quench it, cannot steal A moment from its mad control ! "Tis come in might 1 Fill high the cop. n.fl -1 L a " unm me seeinmg loam run o er; I'll pledge my soul in one last sup, Of tbe thing I loath, and yet adore ! Now let the howling fiends engage All woes of Sin, my soul to cope 1 Pit stand unblanched, for maniac Rage. Will drown the ssd farewell of Hope I I offering this Feltiliaar to the people of Rowan, and surrounding counties we are satis fied that wa offer them the best Guano for the least money new on the market. It has been throughly tried during the past sssssst snd the results have been even better than we hoped for. Below we append two of the numerous certificates we have received. AN IMPORTANT TEST, PAID OVER 600 PER CENT. Salisbury, N. C, October 10th, 1874. Messrs Meroney & Bro. Gentlemen : In reply to your inquiry ss to the merits of the Gnanahani Guano, I will state that I have given it a fair, and, as I think, a thorough test, and believe it to be one of the best fertilisers now in use in onr country. In the month of February I bought two tons and applied it over my farm at the rate of 200 pounds to the acre under Cotton, and 100 poundsto the acre on Corn. On the 8th of October I picked from one row of Cotton 14 rods long, which bad been fertilized at the above rate, S pounds of seed cotton ; from another immediately by the side of this one, of the same length, to which I had applied no fertiliser, I picked 1 ounces the same day showingja ilitfcrsnca of over 8500 per cent, between land fertilised and not. I counted the number of unopened bolls in each, and making calculation on this basis, 1 find that tbe land without the Gnanahani would yield SO ounces to the row, 80 rows or 150 pounds to the sere ; with Gnanahani it will yield 12 pounds to the row, 80 rows or 960 pounds to the acreshowing s difference of over 600 per cent. 1 have not bad an opportunity to test the Corn yet, but from general observation, i feel war ranted in making the statement that Guanahani baa benefited my Corn at least 100 per cent. On one sere of ground, ss a test, I sowed 400 pounds of Guanahani broadcast, eobsoiling at the same time 15 inches deep. Thia sere, under ordinary circumstances, baa average 700 pounds of seed cotton ; this year the yield will be at least 1800 pounds. E. A. PBOP8T. General D. H. SM : Deer Sir t You invite say opinion on tbe legality and effects of the "Usury Law. Jest nassd by onr Legislature. Thia act sea tbe legal rate of interest ior the State at sis per centum per annum, but permits the rate to bm made by special contract as high ss eight per centum Kir a valuable con sideration, such as the loan of money or sale of property. Before the State was recon structed, six per centum, with very low, stringent penalties for taking any ezeeee. 8n beeque n t! y , the Legislature by an net a u -thorised the Ian tars of noney, only, to ehnrge the rate of eight oer centum, when it was no specified on the bee of the note. By the present law, the former, merchant, manu facturer or mechanic, for their lands, goods and products sold on time, can take by spe cial contract 8 per cent, as well as the fender of money. The rate of interest, as yon see, is not changed . It is exactly the same, it has been for several years past. Bnt the per sons nnd objects to which the highest rate is applicable ia enlarged. Tb is ia aa it should be. For is there any good reason why tbe lender or money abonld be entitled to n higher compensation for the use of his mon ey than the farmer, merchant, manufacturer or mechanic should receive for his lands, good or labor f The important question arises under the law whether it applies to National Banks or not. Having given some attention to the subject, I entertain the decided conviction that it does apply to them, and that thev win oe compelled to conform to tbe law pre scribing tbe rate per centum allowed by the net The National Banks are authorised to charge the same rates allowed by the laws of the States in which they sre located, and no greater. Should they charge a great er rate, they cannot recover it at law. and are besides liable to a forfeiture of their charters under the National Banking act The usury law, then, nut having increased or diminished the rate heretofore authorised to be charged does not sppesr to be in eon fliot with, abridge, impair, or infringe, the nguw oi me suuusi oauKs in any respect Their rights sre maintained on an equality with all persons and State Banks, indeed it appears to have enlarged them, for if they are compelled to purchase collaterals or other property pledged as security for money loaned, they can resell on time the property so purchased and take 8 per cent, interest on .a e ww toe note given. Heretofore, no such a note, only six per centum was lawful. It will not be preteuded that the severity of the penalty tne iorieuure oi uouoie toe value of tb a. a i mm . . money lent, and tne nne ot from flUU to $1,000 on the officers of the Rank, eau be in conflict with tbe National Bank act. On the contrary, they appear to be auxiliary to tbe enforcement of its pro vicious, width have been heretofore wholly disregarded in the discount of notes. Maintaining then, that the Usury Law ia applicable to National Banks, as well ss to the citizens and State Banks, you natur ally inquire how it will effect the prosperity of the state This is an important inquiry. It is alleged that it will drive capital from the State. That it will go to Virginia, South Carolina and other States for invest ment ; it will seek United States bonds, Railroad bonds Sec. Of the millions now on deposit in the Banks in the State, and in the hands of individuals, to be loaned at from 12 to 24 per centum per annum, it is probable that some comparatively small amounts may find investments in other States. Still the dividends, interest or profits, of all sums so invested will come back to tbe State, and ultimately tbe principal itself (if prudent and aafe investments are made abroad). If the investment is transferred to another State at a higher rate ef inooine than our industrial pursuits will bear, and tne proceeds, interest or dividends sre returned to the State, where the investor Uvea, it is not apparent that either the State or a citizen will be injured thereby. But few industries in this, or the United States, can afford to pay oyei aix per centum when all, or even one-half, the capital in vested in them is borrowed at that rats. If the borrower does not realise over aix per centum on the money borrowed be has lost his time, labor and solicitude to no useful purpose to himself or the State, aud better for him that he had not taken the loan or made an iuveetmeut of it. But it is appro banded that comparatively few would be 10- svVMswsr m xiuviue. I atoeks of other States. What then will they All ... ..m tk V I invest ia out of the State 1 The rply is. I i iniUM nuuiM r nn. I iimi irt i rm t objects above par in gold, even the 5 per cent. bonds. The 6s are now quoted at f 120 iu currency, or a premium of 20 per cent. This sum. or $105.50 in gold, invested in s 6 oer eent. gold bond will only purchase a bond of 9100 which will give of interest 9b in gold or $6 84 in currency, now depreciated 14t per centum. Now this $120 currency, invested at home at 8 per cent., will yield $9 60 In kind or $2-76 more than the same amount in tbe bond. Now take the 5 per cent, gold bond, quoted at $116 in currency, audit yields you only $5 70 in currency, while the $116 invested at 8 per eent. i merest, at home. gives you $9-28 or $3 58 more than tbe gold bonds pay. or at that rate for a greater or less sum. Thus, we see that iu investing in the best Government bonds issued, the profit over them at 8 per eent. investment ia $2.76 and $3'8 respectively on the one hundred dollars. It would appear that hut few per sons would sbsndou e per eent. at home. and under their close observaiiou. for United States bonds, even if they were exempt from taxation. Tbe state, county and town taxes. adopted by the Congress to give them credit. Of over $1,700,000,000 still onteaudin. foreigners own at least $1,000,000,000. and the banks about $400,000,000 mikln. $1,400,000,000. Vsaviaw orohablv aW.? $300,000,000 in the hands of private parties la oar soaatnr. The larger portion of these sre probably invested in trust estates, and not for sale even for banking porpaasa. Ton will also recollect that the principal portion of the Government sixes are not par able, on their face. In gold. Congress by an act, or resolution, iu 1h&. declared that they should be paid. Bat, fwers, ia thia binding after a sale of tbe bonds, and may not some future Congress repeal Ht Every oppres sive power of taxation upon the people, and odious financial schemes, have seen resorted to by the Government to sustain the credit Of these hoods. The present unwise Bank- ing system has been maintained to the greet detriment of the industries snd labor of the country, under the pretence of furnishing a circulation of mb-.ot $33,000,000 for the coun try at a cost of $20,000,000. annually, in gold, when the actual commercial wants of tbe country require over $100000,000 ia cur rency. The National Banks have been, and still are, great pets with the present Administra tion. They have a monopoly of all the Bank currency authorised to be issnsil either by the Federal or State authority. The lat ter may charter Stale Banks of issue, but all their circulation hss to pay a tax of ten per centum to the Federal Government, which amounts to an actual prohibition of Banks of issue. Thus, we see the Federal Govern ment has farmed out to the Nationtion Banks the sole right to provide a currency to the people except in so far as it authorises legal tenders to be issued. Of tbe $W,090,0U0 of legal tenders in circulation, a large pro portion of them is borrowed by the National Banks from the people at 6. 8 or 10 per eent. annual interest, called deposits ; thus mak ing almost an absolute monopoly of the cur rency. In this way. the rates of interest have been increased sod msuintsinsd at from 12 to 24 per eent. par annum. Now sdd to this amount the sum in the hands of tbe regular aud private brokers who charge the small dealers and laborers from 20 to 50 per eent. dueonnt on paper, and you see bow snd why it is thst the country does not flourish nnd prosper. What farmer, mechanic, or laborer, bor rowing at such rates, can ssake anything, add any property to his estate, or comfort for his family, beyond the interest he pays at even the lowest rates? Twelve per centum, long con tinued, will bankrupt nine tenths of the pop ulation of the richest snd most productive country under theeun. It will soon transfer all tbe properties of the industries and profits of tbe working and toiling mill ions to the few capitalists and land sharks. What s tempta tion to a man in active business pursuits worth $0,000 or $10,000, after paying his debta, to sell ail, cease to farm, run hit saw mill, factory, or foundry, and become a money-changer at 1 per cent, per month I lie Or they would prop ably accumulate faster while they could find responsible borrowers, but the community, in lbs end, would soon become bankrupt, and the lenders would have to take the property at their own price, and with high taxes, aad no purchasers for the property, may be reduced to the same unfortunate condition aa the borrow ers that of bankruptcy. If the former absorbs all the profits of the latter, Othello s occupa tion is gone, and tbe community and State suf fer. Money, merely as money, creates no wealth. It is unproductive. The loan of it will bring to the owner an interest, which the borrower pays, but this produces no additional property, creates no new wealth to the State. Money is instituted by law, is the legal representative of froperty, a medium for the exchange of values. I is its application to labor, its control of labor, that creates new property and resource for the people and the b tales. Tbe mere money lea der is net a producer, but a consumer of pro duction. To this extent, only, be makes a market and courages production: his money is tbe motive power that brings together, com bines the labor and materials and makes prop erty, creates value. Money as instituted by sli nCsjsJsJO fff$J$Jjs will be of rare II large try, and nm mww awwa Kivssu iu sssssn sisbisbbbi ass n beams on espial hi sJsnsst any ceeav ns so regarded ia North Carottaake- 8 to Tbe opinion i. tional Banks that the recent advance, can still tea per cent, dividend. They have averaged about 11 per cent, including their re servsa. They can, it is believed, still discoes good commercial paper, taken la regular and legitimate b Miasm tranaactkma, at the agreed epon by the of the same : but no ... si proportion of their dMecemts sssssnd of 15 their lands a lad. The new scenes aad which net hia eye, so anlike the quiet and unchanging life of his native village, filled him with interest and excitement. He newer felt tired of looking and walking about in the time spared from his employ meat. Among other placet of which be had heard much was the theatre. Some of hia associates went, and there was no end to the wonderful stories they told of what thej saw and heard. Allen felt a rteing desire to go too. He manfully re sisted it, however. "Come," said one of his companions, "go with ns to-night." "No," answered Alien, "not to-night." "So you always say not to -nigh t r come, decide to go at once." "Not to-night," still answered Allen, walking nwny law, has a legal power over all other species of property, it is a legal tender in payment of debts, a medium of exchange of all properties, accumulates interests, represents and measures all products, and is valuable in proportion to the uses and purposes to which the law assign it. Being thus endowed with attributes and powers, by law, over all other values, it would appear strange that the lsw should not regulate its rate of interest, whether in the hands ol in dividuals, associations or Banks. Its facility of transfer and combination also greatly adds to Iu power. Double the rate of interest of the dollar snd you double its value or power over property snd labor The precentsge on money govern the rent or nee of all property, and the price of labor, as the lsw of gravitation governs s falling body ; hence, its per centum should be regulated by law aa order to control its power over property, production sad labor. But. that ws assy ase more dearly the rela tions of capital to production and labor, let ns refer to Commissioner f ilson s btaUsueal Ke port on this subject. In HOT, he estimates the total investment in properties and industries .a wv S a A. . sVan s aaa aaa aaa - n SS in tne uniteu otaies at aoj.uw.ow.uvu. wi.ne the average net revenue or income from these only $1,000,000,000, or 3 1-10 per centum. The average increase of money in notes, bonds. bank stock, Ac., in all tne BUtes, Is estimated at 8 percent, per annum. V a are without statiatcs on this question applicable to North Carolina alone. But it u doubted whether the net income from all tbe properties of all tbe industries in our Mate, for the last Bve years, will exceed two per centum annual profit, while money has sversged 10 per cent, per annum. making a difference in savor of miscast -bearing obligations of 8 per cent over the aggregate in dustries of tbe country. If this be so. is it not apparent that interest, discounts and dividen are silently aad surely appropriating and abaoring the larger portion ted at a greater rate tl would be usurious iftak These legitimate ooeetituus larw in some flanks. interest sesbls the snd manufacturer to barrow at 8 per cent., they will leave 7 per cent, proftt or advantage in their business. This will Impart greater energy, activity, life and prosperity to all branches of business. In this the Banks will partake, as well ss the other property of f on offered will be better snd safer, snd will be kept active, instead of beine waiting to get s more doubtful note at 18 cent, per annum. It is not. therefore, that Banks and Bankers will be sailnasli ted by being confined to the highest rate of in terest ever allowed by law ia tne Stats. The effects of s tow rate of interest is to stimulate aad multiply production. This wealth and prosperity. It also value of all property both real gives the property holder and laborer s margin for prohu, hence tbe spprrnstion, When interest is It per cenc, $100 will pur chase as much property as $200 will when it is only 6 per cent, A railroad shareyiekiing 10 per cent, divideoxcis as valuable ss two yielding only 6 per cent. I have thus concisely stated some of ths sons I entertain for the opinion tnat the pass age of the act wastries snd judkaoan. I have considered it purely ss a question of policy for the entire people of tbe State. To further illustrate the a fleets of low rates for money, let ns suppose that two steamship companies are organ bed to run In the trans portation business from Wilmington to Liver pool, each with a capital of one million of dol lar. They are in competition with each other in the carrying trade, and both working on borrowed capital. Ths rate of money averag ing about four per cent in Knjtland, ibe Liver pool company get their million at 4 per cent., while the Wilmington company pay 12 per cent. Ths Liverpool company par $40,000 annually of interest, while the Wilmington com pan r pars, for the same lime and saasassL $120,000 of interest, or $80,000 mors annually. Now, if the profits in the bow news do not am ount to snore than 12 per cent net, it is manifest that the Wilmington company is working for the public for nothing, and insolvency SB voidable, while tbe Liverpool company is ing 8 per cent, clear proftt where money cotnmsndt only 4 per coat, illustrate tbe principle of low and high oi interest on ail industrial pursuits. It ap plies to every former, miichaat, ssamifsrUnir and mechanic, who borrows sseawy ia onr Bute. While his boine i alanrbed by one rata, be would thrive and prosper aa other. This slso gives tbe reason why greater portion of the carrying trade betw this and European countries is done in bottom. While moat new coo nine higher rates of interest than old and k lamed government maintain, fct is that, if money could be furnished the United Slates at the low rate it is in Eos: land and other conntrie, it would labor and its rewards thus sssialiag that dsn create new element for it. revive and multiply industries of all kinds, donbls the value of land and other property, sad vastly enlarge and extend production and exporta tiona. With the varied and inexhaustible re source of ibis extended country, we could defy the cheap labor ef Europe. It would earn a here, and soon onr export would give ns tbe balance of trade, aad tbe gold of other coon tries would come to purchase onr varied aad multiplied production. As with the United States, so, relatively with North Carolina, dis tinguished for tbe vsriety of her climate, the fertiiitv of her soil, tbe value snd variety of her mineral, the abundance of her er. the industry and integrity of her she onlv asks equal position with other nd nation, and her people will again contented and prosperous beyond her States. Since writing the foregoing I learn that the Lrgi"lature has expressed a purpose to po pone tbe operation of the Urarv Law until next Fall. This mar be wise. nd will rire !1 persons time to adjust their bosioeas relation to the re- have France, qulrententa of tb law, and avoid sosse r ... I , t . . . , nsraanip wnicn miesi nave arreen. Nearly all the old States of lb L n ion maintained their usury laws, limiting oblirations to 6 or 7 per cant-, except IU nnd sosse of the reconstructed Stale. Ia lb trndann eem to be to return to ll statute against naury. Their experience ia that hixh rales paralyze in!utrie and dimin ish production as well as the value of ty, thns impoverishing individual and ine the rssonrces of the Mate. It ia the surplus productions ef a that rive it wealth snd power. Ia these are increased tbe money of will come to purchase these. And now. sir. if our LesrUlalor will fair and tost terse of adjustment of the public debt, call a convention to rt model lion, snd save our railroads from and rings, they can return to their lag that they have rendered the Very truly, yours, Wat. J You shall have a ticket if you'll only I except in s fee cities, do not aggregate one- I of the property snd production, and that there Da vu Co., N. C. Messrs Meroney & Bro. Gentlemen : In reply to your inquiry aa to the merits of Guanahani Guano, I would nay thst I need it last Summer on an old field which would have produced very poorly under ordi- keep it W. w I Ski It appearing, that the defendants, above nam- I nary circumstances bnt which under the application of Guanahani yielded me a very good crop r ' u non-resident of the State of North I bad one test row and this snowed a ainerence oi over tnree nunareu per cent, in iavor oi m i ,. """-louueii !a, and their place of residence unknown. "" therefore ordered that publication be iwi! Lnltlhe 'rolina Watldman," a newspa JJPIUhed in Salisbury, N. 0. for six weeks the said Giles Li vengood, Mary . --"'goou, iiiiam Allen, v Uliam Uranbll, "WJ. HnS 1 .L- .11 I O Guano. I am satisfied that it ia a good Fertiliser and take pleasure in recommending it to every mer who wishes to incressehis crops as being fully equal if not superior to any Guano on market. MATTHIAS MILLED. fer tile aik .: ""uii, jnanna Alien ana 1T? l!Le tb0 named defendants r 55 WD CU7T T flJJ AXTATTAXTT AT QQ PUP TfiXT fc.ded f her ontnezytn vt Hi IDIHUXJ U -ta-x vtsvj a uit x. vit . obev her : and what .1 I . - I w Cranfill, Martha t ws' " "uou ueienoanis vo appear t JJ of the Clerk of the Superior Court, d -rTr";."" ,n Mocksvilie, on tbe Httb eE? iE11 Pt 1875, and answer the com- c-iweamtiff. or the same will be st oSwT ,B Hod, Clerk Superior Court, ftfta-L . "eMiei asisn iwjuuiiu via v i rns 1875. H. B. HOWARD. i.-ews. c,8c, Feb. Freight added. CALL AND SEE US. MERONEY &BE0. come, still nrgod hu companion. Allen shook bis besd. "No, no," said he ; "no ; no j yourself : I cannot take it." "How obstinate 1" rejoined the other ; why, what can be your reason T" Allen hesitated a moment. "My mother told me not to go to the theatre ; therefore I cannot go," he at length firmly replied. His companion ceased to urged him longer ; be beheld in Allen's face a settled purpose to obey, aad he left him without Baying a word more. lie trusted to her knowledge, aad con fided to her judgement, and ha meant to was better, he was not afraid to ear so. It was a viae de cision, nnd in every youth away from home had moral courage enoagh to decide doubtful questions in the same way, there would be many better men tor it Allen is dow an excellent and honored 8.S. Visitor. half the difference of yield iu the bonds sod home rstes st 8 per cent. Then there is no ti me to lost sod eommissaions oo tbe purchase of tbe bonds. Besides a large proportion of the Government sixes sre lisble to be called iu sud redeemed st par, at any time, if the Government elects to do so. when the pre mium is psid for the bond of 5 per eent. or G per cent., in gold, will be lost to the inves tor, and the proceeds returned to the State for investment. Furthermore, these political securities sre not regarded by capitalists as tbe most fav orable iuveaUnent, especially when issued by a Republican Uovemmeul. i hey are ever subject to fluctuations, with the changes and vicissitudes of governments mal- a1 min istration, intestine strife, domestics snd foreign wars, always depreciate them and sometimes bankrupt nations as well as stales. A large majority of all the U. S. bonds sre now held in Europe where tbe rate of inter- eat ia low, and war there or here might drive them back home, with a very depressing in fluence on their value. Their present high price is only maintained by the foreign de mand aad tbe iniquitous Unsocial is no just relation between the increase of capi tal snd the profits of industry. Money at 8 per cent, per annum, with ths interest reinrest ed annually will double itself about every ten years. By th is time It has absorbed the seeari lies it rests upon. Hence the opinion ex preaaed of the periodical panics said to nave recurred about every ten years since 1837 ; when the dsy of final reckoning comes, the borrower proving insolvent, a panic follow, property declines to half in) former value, hard times ensue, hunger, famine and distress prevsde the land because interest has appropriated a large portion of the products of labor and industry, These are tbe legitimate fruits of the exces sive rales of interest in all countries. The pro portion of 2 per cent, on industries to 8 par cent, oa capital ought to satisfy tbe cupidity of the moat avaricious, How tempting to all who can afford it, to abandon labor and production and bank oa or lend their money. Ought then the disparity between these sources of income to he so great ? Is it act detrimental to all developments and industries, aa well aa to the labor which, combined with capital, create the wealth, power and greatness of the Stale 7 The changes in investment resulting from th enforcement of tbe legal rate will lianhtlsm be Inconvenient to many, and injuriously to In a recent lecture at Cork, Jeha Mitchell said: "The London Teases indeed hss dis covered adisgracefal criase of which I have been gailty era: that I was a Southern Confederate during tbe lata war in Amer ica. As to thia last charge I ewa the soft impeachment, I was a Confederate and so were all the beat seen that I Bast in America. Mlear. beat! My ths 1 . C t. A . - . m two of ihcm fell in battle. I am a craven recreant aa to affect to be A f , U . . f On Satnrdav laal this brave . a died ia Ireland. He baa crosses tbe ocean ia a weak state of health to stand for Parliament at the resjaset of his eonntrrsseo, aad l bough he was twice elected there was no probability of his befog allowed to take hia seat. With an exchange, wa say there was nothing low or groveling about John Mitchell. she people of tbe South respected aw mired him while living aad ainearely mourn his death. Ac I lam
Carolina Watchman (Salisbury, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
April 1, 1875, edition 1
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