Newspapers / Wilmington Journal [1844-1895] (Wilmington, … / Nov. 29, 1866, edition 1 / Page 2
Part of Wilmington Journal [1844-1895] (Wilmington, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
THE WILMINGTON JOURNAL. "WILMINGTON, N. C, ITIirKSDAY, KOVEMBEIt 29, 1866. The "Warning of Experience. It must be admitted that the condition of the Southern people is, in many respects, deplorable.' Just emerging, it may be said, from an exhausting civil war, -wherein they lost their brightest and their best ; burden ed with taxes which, in their palmiest days, would have been considered oppressive, and jn their present state little less than ruinous ; suffering in many sections from short bread crops ; threatened with innu merable evils by tn unscrupulous political party, with an army of lazzaroni in the shape of vagrant freedmen, women and children, devouring their very substance, there is much in the situation to darken our hopes of the future, and to sink the heart of the patriot. But notwithstanding the gloomy aspect of the present state of affairs, thero is yet no causj of despair. A people so fertile in resources as the Southern people have prov ed themselves to be; having such capacity of endurance; so courageous in the field; so hopeful in defeat; so magnanimous in vic tory ; with a territory combining every ad vantage of soil and climate, are possessed of all the elements of national greatness and prosperity, and, if true to themselves, must achieve both. If our people would but take to heart the lessons of the past, and wisely apply them to our present and future action, there could be no doubt of our rapid progress to wealth and greatness. But we confess that Vro seem to be pursuing with a blind pur pose, the path which we have heretofore followed to our own destruction. Wo are not now speaking politically, but referring solely to our material interests. Before the late struggle, the South had become the mere tributary of the North. The whole marketable productions of her fields and her forests, the fruits of the best organized system of labor the world ever saw, found their way into Northern hands. The merchants of the North became our factors; we produced, thay sold, and we took their manufactures in return ; thus all our capital was at their disposal. Forty or fifty millions of dollars in the shape of customs, from a commerce based principal, ly on cotton and naval stores, wore annual ly disbursed among them. Boston, in the year 1S50, furnished us with four hundred thousand cases of shoes. We fostered their shipping and their manufactures; we sup ported their agents, their brokers and their commission merchants ; they constantly accumulated whilst we were undergoing a continual drain, and as a necessary result, we commenced the late terrible struggle, wanting in all the materials necessary to success, with actually nothing savo strong arms and brave hearts, and were overthrown at last, by the very sinews of war which we had so greatly continued to supply. It would be folly thus to refer to the dead past, were it not to draw a lesson therefrom for the living present. Are we profiting by the warnings of experience ? On the con. trary, we are pursuing with increased zeal the very course which made vis the tributa. ries of our ' ' Northern brethren. " 4 1 Stores " are being erected at every cross-roads the plow is being forsaken for the yard stick, and we who, for four years, 4 4 lived within ourselves," are importing Northern manu factures in a thrice increased ratio. With what bright anticipations we looked forward to the present crop as a sure means of par tial relief from our embarrassments, and yet it is no exaggeration to say that every bale of cotten, every blade of tobacco, every barrel of turpentine, every pound of rosin, every cask of lice and every bushel o wheat produced among us this year and not required for home consumption, are this day mortgaged to the Northern manufac turer and merchant, and will as surely find their way into the hands of these, our very kind friends, as that they will be prepared for market. Thus we are moving in the same ante helium cycle we continue to add to their accumulations and to impoverish still more ourselves. Assuredly this state of things deserves the serious consideration of our people, and devolves upon the press the duty of enlight ening the public mind therein. In courtesy to the patience of our readers, however, we will continue the discussion of this subject in to-morrow's issue. Daily Journal, 21th. Direct Trade and Home Manufactures. In" our issue of yesterday, we referred to the present condition of the Southern States as being in many respects deplorable, but nevertheless that the sterling qualities of our people, as proved by a terrible struggle of four years, and the advantages of our soil and climate, give us every reason, if true to ourselves, to look forward to great ness and prosperity. We attributed our lack of war material, at the commencement of the late contest, to the fact that our whole surplus production had been, from the commencement of the Government, shipped to Northern markets, there sold, and paid for by Northern manufactures ; thus making the South the tributary to all the material interests of the North, adding continually to the accumulations of that section, at the same time impoverishing our own. We referred also, to the fact that, instead of taking to heart the lessons of ex p erience in this respect, we are now im porting Northern manufactures in a thrice increased ratio, and we hazarded the opin ion that our whole surplus production of this year will be required to pay for the Northern manufactures bo this year im ported. , - In continuing the subject to-day, we still confidently repeat the allegation, that it will require our whole surplus production this year to pay our Northern indebtedness this year incurred. Now this is a deplorable state of affairs, and so long as it exists, we never will be anything save mere ' hewers of wood and drawers of water " for our fellow-citizens North of Mason & Dixon's line. If our surplus production is to be annually sold to defray our continually ac cruing debts to the Northern people, what hope can we entertain of developing our resources ? or, what can we see in the future, sftTQ wretchedness and beggary ? - - ,- We admit that it is very easy to see and descant on the suicidal course we are now pursuing, but very hard to devise a remedy, and yet thero is a remedy which suggests itself to every intelligent man who reflects upon this subject, namely : 44 Direct trade with foreign countries and home manufac tures." But it may be urged that the remedy suggested is impracticable, and that we have no capital to sustain direct trade. To this we reply, that the capital lies at our very doors : it consists in our production. The cotton crop of the South, for this year, is estimated at fifteen hundred thousand bales, putting it at the lowest figure, and this will net one hundred and fifty dollars per bale. Here there is a magnificent capital already on hand, which, if turned into the channels of direct trade, instead of being mortgaged to Northern merchants and Yankee manu facturers, would, in less than a generation from to-day, place us among the most opu lent people on the face of the earth . But so far from any attempt of tnis sort being made, our best men and most noted mer chants, are establishing themselves in New York and other Northern cities, lending their experience, their wealth, their popu" larity and their example, to the perpetua tion of the "evils we have endeavored to point out. Patriotism calls upon them to turn their faces homewards, establish them selves iii our own ports, and endeavor to turn thereto the channels of trade. It may, however, bo alleged, that direct trade with foreign ports would not benefit us, inasmuch as we would there expend all that we now expend at the North, and that it would bo a distinction without a differ ence. This, to say the least, is a very shal low view of the subject. With direct trade would come all its accessaries. Our mag nificent pines and oaks would then be built into ships and steamers in our own cities, affording employment to thousands our young men would be trained to the sea and to mercantile habits and pursuits the cus toms, amounting annually to millions, the commissions, the pay of agents, brokers, &c, amounting to millions more, would then be disbursed among ourselves, and abovo all, direct trade would bring with it immigration, and with immigration would come home manufactures. In a state of slavery the obstacles to home manufactures were insuperable. Slavery is adapted only to agriculture it repelled im migration and prevented the rapid increase of our white population. But now the black man is left to his own resources he must work out his own destiny, and immi gration is invited among us from all the great reservoirs of supply. These very re servoirs are the ports of Europe, let them be opened to us by direct trade, and we will have a supply of white labor, and with that supply there will not be wanting capi tal to turn it into the most profitable chan nels. All hopes of establishing home man ufactures on an extensive scale, without an increase, and a great increase in our relia ble laboring jopulation, are vain and futile; but with immigration homo manufactures would necessarily follow, and the best means of securing the flow of immigration hither is direct trade with Europe, for which we already have the capital, and re quire only that the energies of our people should be directed towards its accomplish ment. Daily Journal. 28th, Wilmington and Manchester Railroad. The reports of the officers of this Com pany have, as was done by the W. & W. Road, been printed in advance of the meet ing of the Stockholders, which will be held this day, in order to afford an opportunity for consideration and perusal before as sembling, and that time may be allowed for careful examination so that the Stock holders may consider well the measures submitted to them. For the information of many interested who may be prevented from attending the meeting and have not had an opportunity to peruse the reports, we give below such a synopsis as will inter est the general reader. The reports show that the Wilmington and Manchester Railroad Company has suffered as greatly, prehaps, by the late war, as any oth?r like corporation through out the South ; and in a financial point of view has not been exempt from the strin gency and depression by which all other interests are at present effected. At the close of hostilities the condition of the affairs was truly discouraging. The road was worn down, the equipments almost entirely destroyed, and the repair department ruined. The report of the President and Directors calls attention to the fact that on 171 miles of road there were but two pas senger and twenty-six freight cars which the company could call its own ; that the repair shops had been converted into a re fugee camp for negroes, and that many water stations and depots had been des troyed by fire. Besides this, the track, and even the smallest tools and appliances needed large renewals. From amid this wreck and ruin, with no available funds, and with back debts up on which interest had accrued, pressing up on them, the Company by means of effi cient management, has risen to a position among the roads of the South, and is in a situation to compete with- the majority ol them. rKTSIDEKT AND DIKECTOKS EEPOKT. The icport commences with a reference to the reports made at the last annual meet ing, showing the condition of the road, its indebtedness and finances, and giving a brief statement of the amounts duo on the back and unpaid interests on its bonded debt, income on mortgage bonds, Arc. Af ter this statement of tho condition of the road, the report says : "In November last we virtually found ourselves in the above condition, regarding our bonded debt and back interest, and needing further some six hundred thousand dollars worth o property to put the lload in good condition. To obtain this we had no money, but little credit, and no assets Fortunately, however, in arranging our bonded debt we were enabled to make an asset, and on this with some portion of the receipts of the read we have thus far worked. This, however, involv ed the retiring of our entire bonded liability, scat tered all over this country and a portion abroad, and its extension. Steps were taken early in De cember last to fund the back interest on our bond ed debt and obtain an extension on the bonds themselves. As will appear further on, we have practically, accomplished this, and postponed HI ' trouble to the Company from its funded debt, cx ! o?pt the payment of the annual interest on dame tor a period, on an average of thirty years, thus entirely relieving the Company on that score, for that length of time." It also states that the property is resusci tated and in good efficient order. There remains, however, no more money to expend in reconstruction, and that the ability to work the road cheaply and economically in the future is good, inasmuch as everything is now and in good order. The cost of op erating must therefore necessarily be com paratively t mall. MORTGAGE BONDS, INTKKEST, &C. The following facts and figures .ire sub mitted for consideration : Amount of First Mortgage Bonds, duo Judo 1st, 1366 $596,000 00 Int rest due on same to June J at, 18f6 187,985 00 Amount of Second Mortgage Bonds, due June 1st, 1873 200,000 00 Interest due on same to May 1st, 18G6 60,865 00 Income Bonds, due March 1st, 1364. . 160,000 00 Interest due on same to September 1st, 1866 32,316 00 Bonds secured by pledge of W. & W. E. It. Stock, due May 1st, 1865 75,000 00 Interest due on same to May 1st, 1866 13,125 00 Total bonded indebted ness $1,031,000 00 Total interest past due. 21)4,201 00 Indebtedness of the company. Present indebtedness of the Company if every nature and kind outside of funded debt $563,301 58 Interest on entire debt, including fund ed debt, bills payable, and interest and sinking fund growing out of the Wilmington Railway Bridge Com pany liabilities from Oct. 1st, 1866, to July 1st, 1868 285,950 00 Operating expenses of the road from October 1st, 1866, to July 1st, 1868. . . . 420,000 00 1,269,251 58 Assets for same period, 545 bonds ot the Com pany at 70 $381,500 00 Receip s of the road from Oct. 1st, 1866, to J uiy 1st, 1868 840,000 00 1,221,500 00 Balance of indebtedness on July l8t, 1868 47,7al &3 In conclusion, the Report recommends that the Stockholders sanction and approve the action of the President and Directors in regard to the arrangements made with the " Wilmington Railway Bridge Compa ny," the endorsement of its bonds, fcc,, stating that the President and Directors, in their action, consulted the best interests of the Road. THE SUPERINTENDENT'S KEPOKT embraces a statement and various tables of the receipts, expendi hires and general expenses of the Company, together with remarks upon way-travel, freight, tc. The gross receipts for the year are stated at $432,059 43 ; operating expenses, 8279, 515 88, leaving as the net earnings $152, 543 55. The statement of receipts and expenses are quite lengthy, being given in detail, to publish which our limited space will not admit of. The report asserts that, by reference to former reports, the 'receipts from all sources compare favorably with those of any previous year, and says that the de crease in through travel, noticeable frpm a comparison, is attributable, after the unset tled condition of the country, to the lack of perfect connections with the different roads South of us. It goes on to say, that as the whole line is alive to the vast impor tance of close through connection, and a well regulated system of through tickets, this Road is now in a condition to compete successfully with the Western routes, and there is reason to hope to obtain a fair proportion of the travel. FKEIGHT. The following statement will show favor ably for the freight receipts of the present year compared with those of 1860 : The receipts for freight in 186 i are... $240,101 16 Those for 1860 were 200,942 93 The report says it is but just to state that the increase is mainly due to the increased rates over those of 1860, but the rates have been materially lowered during the past six months. When taken into consideration the increased facilities for freight, and that the rolling stock is taxed to its utmost ca pacity, and is still found inadequate to the removal of freight as rapidly as it accumu lates, there is every reason to anticipate that the revenue for the future will be even greater than during tho past. Since the resumption of operations the many bridges which were destroyed, pre vious to the close of the war, have been re built, including those over Alligator Creek, Brunswick River and the Pee Dee. EQUIPMENT. There arc now in efficient working order fourteen engines, six of them new. They are classed as follows : Seven first class, four second class, three third class. One additional engine is now in the shop un dergoing repairs, and will shortly be com pleted, making in all eight first class en gines. CAKS. The number of cars are stated as follows: forty-nine box cars, (forty-four new) ; sev enty platform cars, including fifty new, and five passenger trains complete, consisting of five first-class, five second-class, forty five baggage and four mail cars. The report asserts that by an additional expenditure for 1,200 tons of new iron re pairs can be made, all the old iron on the road relayed, and the road soon placed in every respect on a first-class footing. The report concludes with stating, much to the Superintendent's satisfaction, that there has been no accident during the past year resulting in the loss of life, (and in fact no accident on the road of a serious nature) ; and bears pleasurable testimony to the effi ciency and zeal which has characterized the labors of the officers and employees of the road during the past year. Thb Coming Down in Pkices. It is a great source of satisfaction to the masses to see the prices of all the necessaries of life coming down at such a rapid rate. The speculators have enjoyed a long term of profitable operations, and it is time now that the people, especially those of small means, should be enabled to live without exhausting every dollar of their earnings in procuring a bare sup port for their families. The Western speculators in provisions and cattle are now compelled to throw their produce on the market, for it h3 ac cumulated vastly on their hands, and their busi ness must still go on. Hence the ample supply which has reduced prices so suddenly, and so op portunely for the poor, just on the advent of win ter. But while the wholesale quotations show an immense decline, it will not do for the retail dealers to maintain disproportionate prices. They must come down in the same ratio as the markets. - We clip the above from tho New . York Herald of the 25th inst. We only hope that prices may continue to come down until a standard is reached by which consumers may be enabled to lire without a resort to the last farthing of their income, in order to obtain 'subsistence for their families. We speak fedingty v . :v :X,:Y EDITORIAL CORRESPONDENCE. The Legislature Tae Sptnlter The New Hanover lUt mbcrs The State Officers United States Senator Howard Amend metlt dmuicinenU. . Baisigh, November 25th, 1866. ' Dear Journal: The first week of the session has been spent in the organization of the General Assembly, and few matters of interest only have as yet been presented in the form of bills, but every scheme of politics, finance, internal improvement, Sec, &c, imraaginable, form the hotel and lob by subjects of conversation and " pipe lay- ir mg. The election of Judge Manly as Speaker of the Senate, is a desorvc-d compliment. The great injustice with which this eminent gentleman was treated by the accidental pol iticians who composed a majority of the last Legislature, has endeared him to the peo ple of North Carolina, whose representa tives in the Senate have taken the first op portunity of making this feeling, manifest by a substantial demonstration. Tho sound judgment, great ability, accuracy of thought and dignity of manner which distinguished him as a Judge, are his characteristics as a presiding officer. The State contains no more worthy son, and the unjustifiable and unwarranted misrepresentation of public sentiment which deprived him of his judi cial position, will remain a stigma upon those who contrived and aided its consum mation, while every true man in the State will regard himself as a party to it until he has had an opportunity of making repa ration. The election of Speaker in the House turned upon questions of internal improve ments and railroad interests. Mr. McAden is a most efficient officer and sound politi cian, and has not only displayed good judgment, but admirable feeling in placing Col. Cowan of our city at the head of the committee on Internal Improvements, which at present is the center of interest and im portance. Col. Cowan also occupies an im portant position on the committee of Fi nance. Mr. McClainmy has been placed second upon the Committee on Private Bills. This young member will take a high stand and render himself a most efficient and useful representati ve. Tho Speaker of tho Senate has given evi dence of his appreciation of the experience, judgment and ability of Colonel Hall in placing him at the head of the Committees on Education aid Literary Fund, and ihe Deaf, Dumb and Blind Asylum, and second on the Committees on Finance and Internal Improvements. The only election of State officers so far has been that of Secretary of State. Mr. Best was elected without opposition, which is a deserved compliment to hisintelligence, industry and attention to duties. So far as I have heard Mr. Treasurer Bat tle has no opposition to his re-election, and it woidd be as useless as it is unnecessary. The Treasury ha:, never had a more inde fatigable and zealous guardian. His re port gives evidence of care and accuracy, and a familiarity with the great subjects of financo and taxes that denote study and ability. For Comptroller there are several candi dates, including the present incumbent, General Brogdeu. It is impossible to say who will be the successful man, though Mr. Holderby, one of the members from llock ingham, and Mr. P. Cowper, of this city, seem to be the favorites just now. However, when so many cofheting interests are in volved and so many irons arc to be heated, one cannot tell which t i diet may wove a prize and which a blank in the uncertain drawiugs of a legislative lottery. The two houses, under theactof Congress, will go into the election of United States Senator on Tuesday next. It is more diffi cult to say who will than who will not be elected, although the Hon. John Pool has been in the lobbies during the greater part of the week. Unfortunately for this gentle man, the last Legislature, which, dM the peo ple of North Carolina the injustice to thrust him forward as United States Senator, had not the power to continue the term longer than the -1th of March next, and he must retire to private life before he has had the opportunity of taking his scat. Hons. M. E. Manly, George Howard, Geo. Davis and Thos. S. Ashe, are the most prom inent names in connection with this posi tion. The Western members scern willing to go for an Eastern man, and are willing, also, to leave the choice to the Eastern mem bers. No action has been had and proba bly none will be, until the election takes place. This week, legislation will begin in earn est, and in my next I . hope to be able to give the outlines of the most important measures under consideration. The constitutional amendment has been referred to a Joint Select Committee, and will be reported upon at an early day. One member of the Committee, Mr. Wilson, of Forsythe, is in favor of the measure and will very probably submit a minority report. While no means will be used to check debate on this question, there seems to be a general disposition to avoid all excitement or discission. A delightful "hop" at the Yarboro' House on Thursday ni ght, has been the only amusement of the past week. During the present week, however, a most elegant entertainment is to be given by a gentle man of this city to Major Manly and his accomplished bride, while on Thusday next a Base Ball match is to be played between the University Club of Chapel Hill, and the Pioneer Club of this city, for the "Cham pion Ball." Much interest is felt in the contest. Yours truly, .E. - Impobtant Decision Dischabge of Pbisonees. " will be recollected that some time ago four citizens of South Carolina were arrested, by com a"of Major General Sickles, and having been tried by a military court, under the orders of that officer, were sentenced to death. The sentence was commuted by the President to imprisonment for Me, and the prisoners having been first dis patched to the Dry Tortugas, in order to evade a wnt of habeas corpus, were eventually incarce r j u Delaware. ? Here they were demand ed by the civil authorities, under a writ of habeas corpus issued by Judge HalL the District Judge of the United States for the district of Delaware. Judge Hall is a magistrate venerable alike by his years and by the dignity and firmness with which r8 lonB career, administered his high office. The mandate of his court was obeyed the prisoners were brought before him, and after ft patient hearing of the case, they were discharg ed, on the express ground that " according to the lawof the land th prisoners ought not to and cannot be held under tho commuted sentence of this military commission, and that they be dis charged." Uaaimore un, 2iih inst. p,? We learn from the Columbia papers that the prisoners above alluded to, arrived in that city oh Wednesday last, pi route for their homes in Anderson District, S. C. Their names are, James Crawford Keys, Robert Keys, Elislia Byrem, and Francis Gaines S towers. It will be remembered (says the Charles ton Courier) that in October of last year these gentlemen were arrested upon suspi cion of being implicated in the murder of three Federal soldiers at Brown's Ferry, in Anderson District, and after a confinement of five months were brought to this city and placed upon trial by Jilitary Commission. After a tedious and -laborious investigation, the details of which were elaborately re" ported by the Courier, they were pronounced guilty and sentenced to be hung at Castle Pinkney, on Friday immediately subsequent to the publication of the findings of the Court. " Thecase excited the deepest commisera tion of the large circle of the friends of the accused in this city, by whom, as well as by the public generally, they were believed to be innocent, and by the exercise of theii untiring exertions, aided by tho energies and ability of their distinguished counsel, General James Conner and Hon. Armistead Burt, who had conducted their defence, a reprieve was obtained. An effort was then made to have a hearing of the case before Judge Bryan, of the United States Court of this District, upon a writ of Habeas Corpus, with a view to their release, but it failed, on account of the refusal of General Sick les, in whose custody they were, to recog nize the jurisdiction of the Court. Pend ing these proceedings the sentence was com muted by President Johnson to imprison ment for life, and. they were removed to the Dry Tortugas. But a short time elapsed j mafces ciean w0rfc before the beginning of before the Executive clemency was again j the session, Congress is excluded, by its successfully invoked and the place of con-1 own act, from raising the question of re finement was changed to Fort Delaware, j gularity. But if the President waits until , . . ,. , , , ' the permissive section of the Confiscation from which they have just been released in ' act is repealed, ho will ffive his enemies an the way already indicated." Meeting of the Stockholders of the Wil mington and Weldou Railroad Company. The Stockholders of the Wilmington and Wel don Railroad Company held their 31st annual meeting, in the Court House, in this place, yester day. MORNING SESSION. The meeting was organized by calling 1'. Mur- phy, Esq., to the Chair, and appointing Messrs. to leave a loop for the cavillers by needless J. W. Thompson and Jas. II. Whitaker Scereta-, delay. ries. j The most fitting time for a general am- Oa motion, Jas. A. Bradley, together .with the j nesty was when he published his final pro Sccrctarios, were appointed a committee to verify ' elaniation declaring the war at an end and proxies and ascertain the number of shares of discontinuing martial law. There was, in the capital stock represented. Jeid, at that time a prudential reason for Tho following number of shares were reported ! del since he. Publicans would have , . made a great handle of the President s M . I to I 1 1 MNf 1 1 I k- I I c In Terson 2,105 By Troxy 8,933 Total...' 11,0'JS A majority of the capital stock being represent- ed, the meeting was declared duly organized. H.A. w ngiii', XLisq., piuseuieu uie lepoii oi me Tiesident and Directors together with the report of tho Superintendent and tho Treasurer. On motion, it was resolved that the reports be referred to a committee of three Stockholders. The Chair appointed as said Committee, Messrs. A. A. McCoy, W. S. Battle, and H. M Drane- Col. S. 1j. Fremont moved that a committee of three Stockholders be appointed to draw up a code of By-Laws for tho government of the Stock holders in their deliberations, and for tbo man agenieiiu of the a Hairs of the Company, and to re port what progress they have made, during the afternoon session. Adopted. The following Stockholders wen; appointed to serve on tho said Committee : Col. S. L. Fremont, V. A. Wrijfht. arid W. JL. Smith On motion of O. G. Parsley, Esq., the meeting adjourned until 3 o'clock, P. M. AFTERNOON SESSION. The meeting was called to order by the Chair man. The Committee appointed t- consider the re ports of the President and Directors, Superinten dent and Treasurer, reported the following through their Chairman, Hon. A. II. McCoy : liKI'OKT : The Committee to whom was referred the an nual reports of the officers of the Company, have given the subjects as much consideration as the j l, r ' ' 1 x JUiey would recommend that the Company ac cept the ordinance passed by the Convention cre ating tho "Wilmington Kailway Bridge Company," and further sanction and approve the action of the President and Directors thus far under the same They would further advise that the President i and Directors be authorized to proceed to com plete the works and purposes proposed under the ordinance. In examining the expenses incurred in the mat ter of reconstruction and resuscitation of tho property, though the amouut is large, they are of the opinion that no more money was spent or lia bility incurred than was necessary under the cir cumstances, the property being in a very woru out and crippled condition. They would, however, recommend, for tho future, retrenchment and a most economical outlay in these respects. In regard to thu Branch Road to Fayctteville, they would advise thai, the whole subject be re fcred to the President and Directors with au thority to take such steps in the premises as the interests and ability of the Company might seem to warrant. They are further of the opinion that tho busi ness profits of the Company appear to be good, and its affairs are managed with prudence, consid ering all the circumstances. AH of which is re spectfully submitted. Oil motion of V. S. O. Andrews, the report 6f the Committee was received and adopted. Mr. W. A. Wright ottered the following resolu tion, and moved that it be incorporated with the report of tho Committee, which motion was, after considerable discussion, adopted : Jiesolced, That the ordinance of the Conven tion of this State, entitled Ordinance t; m- corporate the Wilmington Ra;l vay Bridge Compa y Bridge Compa-1 ny, " ratihed the 23d day of June, A. D., I860, so far as the rights, powers, privileges and fran chises, and the duties and obligations thereby granted to, or imposed on, this Company are con cerned, is hereby assented to and accepted from this Company ; and that all agreements, contracts, covenants and liabilities of aevery kind whatsoever, which have been entered into in behalf of this Company, by the Directors of this Company, by virtue of any of the provisions of the ordinance above referred to, are hereby affirmed and ratified, and declared to be, in all respects, obligatory on this Company. On motion of J. Norflcet, and oleotion for Presi dent was entered into, which was had with the following result : Hon. R. R. Bridgers, 3,581 shares, P. K. Dickinson, . 147 " Mr. Bridgers was declared duly elected. An election for Directors was then entered into, and the following gentlemen, comprising the old Board, were reported as elected, together with the number of votes received : S. Wallace, G,721 sharee, r. K. Dickinson, 6,677 " W. A. Wriffht . : fun Eli Murray, 6,558 Alfred Martin, , 6,557 jno. Jiverett, C.25G " A. H. VanBokkelen, - 6,147 Gen. Alex. McRae offered a resolution, which was bo amended by Dr. A. J. DeRosBett and ac cepted by Gen. McRae, as to read as follows : Resolved, That the Directors of this Company be instructed to take into consideration the pro priety of reducing the rates of local travel, with the view to increase the receipts of this Company. Adopted. - , r The report of the progress made by the Commit tee on By-Laws was read, and, on motion, was re ceived. : iX, j ;j-,:','.,. X''". 'r. CoL S. L. Fremont moved that tha Committee be instructed to continue their labors,, and report to the Board of Directors. Adopted, ;;-' On motion of Mr. W. Alright, it 'was resolved that the next annual meeting of tho Stockholders of the Company be held in this city on. Wednesday after the second Monday in November next. i On motion of A. H. VanBokkelen, It was resolved that the salaries OI" tne President, Chief Engineer and Superintendent, and Secretary and Treasurer, for tho ensuing year, be fixed at the same sum as at present. A motion was made to reconsider, and a stock vote called for, which was had, resulting in the defeat of the motion. On motion of Dr. B. F. Arrington, Messrs. V. Murphy, J. D. Love and G. W. Collier were ap pointed Auditing Committee for the ensuing year. Dr. B. F. Arrington offered a resolution to the effect that during the absence of tho President from the State, the Engineer and Superintendent shall, with the aid and instruction of tho Execu tive Committee, attend to and conduct the duties of tho President, so far as said duties can be del egated. Laid on the table till next annual meet ing. Tending a warm discussion, the meeting ad journed. Dotty Journal, 22d. From tho N. Y. World. Ought the President to Publish a Complete Amnesty J The small quibbles which tho Times brings to the defence of an untenable posi tion (quibbles which we will explode before we get through) have no value as argu ments, but they are of some importance as divulging the determination of the Bepub licans to dispute, in the approaching ses sion of Congress, the authority of the Pre sident to dispense any further relief to per sons liable under the Confiscation act. When a journal, affecting so much modera tion as the Times, has the hardihood to claim for Congress one of the most unques tionable prerogatives of the President, and to expend all the cavilling ingenuity it pos sesses in arguing against a fact, we are jus tified in inferring that there is a foregone j purpose on the part of Congress to usurp i the pardoning power, or at least, to arrest its further exercise. The disclosure of this purpose is a new j reason why the President should immedi- ately complete the work of grace begun in i liis first Tirnelamation of amnestv. If he j advantage, in enabling them to bewilder ; the popular judgment. The permission of JL ' Congress to exercise a power with winch he is explicitly clothed by the Constitution, is indeed a piece of officious impertinence, and he will be divested of no authority by its withdrawal. But ho should bear in mind that the mass of tho people are not exact J reasoners on such subjects, and that it is j just as easy to act before Congress meets, as lenity, in the elections. But now that the elections are past, there is no longer any reason for postponement, and many for prompt action. The twenty thousand dol- ; lar limitation rests on no solid ground. A ; rebel worth twenty thousand dollars was nui uiuxu yiuiij iiuiii uiiu ui in u iut,-tt;t;ii thousand or ten thousand ; the guilfc of a j rebel being measured by his virulence and , activity, not by the amount of ins property, j Men of wealth had perhaps more power to rekindle the rebellion, and it was there- ' l. I I II. . 1 . It. . I i . I i oro a "wise precaution to keep them under I j..... i. i;i n. -o i t i .-i. I lu&iiHiub iiiiiii niu x ic.MUL'iit ueeuieu it ssaiu : to proclaim io tho country that all danger ! was finallv pest. When he declared this in his proclamation of peace, there was no reason (beyond the prudential one conncct j ed with the elections) why an amnesty ; should not have immediately followed, ex- i x:. l... . i. i x i i : eeountr uy name xuen liiuiignuui rcotJS us t it might be expedient to punish. ; Tho most solid reason for a general am j nesty does not rest on any sentimental no- I tious of magnanimity, but as a busmess i like regard for the general welfare. Tho i capital, which the South so much needs for 1 the revival of its prosperity, wdll not go in j to that section in small driblets. Wealthy i individuals or associations must borrow in large sums, in the first instance, and serve as reservoirs for distribution among weaker men whose credit is known only in their own localities. The class excluded from the first amnestv comprises all the men with credit enough to make loans outside of the Southern States; but until their titles are I restored to them by an amnesty, thev can give no solid security, and are as badly off as distant borrowers as if 'they were not worth a dollar. Moreover, the men of wealth possess the business talent, the en- ergy, the enterprise of the South. They are the men to set the wheels of the arrest ed machine in motion by their activity, sa gacity, and force of character, as well as by their pecuniary means. Bat until they aro amnestied, they are bound hand and foot. The shock which has tumbled the old indus trial system of the south into ruins, makes it expedient that mniy enterprising men j should change the'rpursuits;that they should take their capital out of a former business, to seek a more profitable investment in anoth er. The facilitiy of such transfers is one of the most important conditions of recuper ation after a general wreck. But while a man's property is liable to confiscation he cannot sell it, because he can give no title. Tho consequence of withholding pardon from the wealthy class is, that the business of tho South is kept in a state of stagna tion. Congress, as a means of extorting sub mission to their demands, have determined to wrench the amnesty power from the Pre sident. Even so moderate a member as Mr. Ilaymond is ready to support them. We cllUUot ppose that he is advocating in hi paper wnat lie does not mean to stand by in Congress. Forewarned, let the Presi dent be forearmed. Congress intend to hu miliate him ; to undo his work in the South; to upset the State governments formed un der his encouragemen; to keep the South in poverty and under the harrow of the Confiscation act, until they can coerce its assent to degrading conditions. True, the President will have not a whit less power to pardon aftey tho permissive section is repealed ; but as it has become manifest that his power is to be disputed, it is bet ter that Congress should be . estopped by immediate action. The cob-web quibbles of the 1 Ymes against the pardoning power of the President hard ly deserve a refutation ; but since wo have promised one, we will try to make it effec tual. Hamilton in the Federalist, defends the Constitution against tho objection that, in cases of treason, the power of pardon would have been moro appropriately vest ed in Congress. We cited his argument on' this subject among other proofs that Congress does hot possess the power; Ham ilton's argument to show why it was with held being a tolerably conclusive proof that it teas withheld. The Times, as the foun dation of its quibbles, copies a little patch from that number of tho Federalist, omit ting and emphasizing as follows: " Tho expediency of vesting the power of par doning in the President has, if I mistake not,fi he says in No; 74, " been only contested in relation to the crime of treason. But the principal ar gument for reposing the power of pardoning in this case in the Chief Magistrate, is this : In seasons of insurrection or renellion, there are often criti cal moments when a toelUimei offer of pardon to the insuraents or rebels mav restore th iranauHUu . of the Oommonwealih, and which, if suffered to na.R unimDrovedi it mav never be' wards to recall. The dUiatory process of conven ing the Legislature, or one of its branches, for the purpose of obtaining Us sanction, would frequent ly be the occasion of letting slip tho golden oppor tunity." On the basis of the expressions thus ital icised, the Times proceeds to argue that tho President has no power to grant an amnesty except at critical moments in the progress of a rebellion, when Congress is not in ses sion ! Before chewing this delicions piece of absurdity, wo desire to remark that the extract disposes of a cavil that might be raised on the distiction between a pardon and an amnesty, the whole passage obvi ously applying to that form of pardon to which we apply the latter name, and show ing that the pardon clause in tho Constitu tion covers the whole ground. The ques tion raised by the Times is, whether tho President possesses it permanently and ab solutely, or only at critical periods when Congress is not in session. Hamilton was arguing to show why tho Constitution with held it, and ail participation in it, from f in gress. His whole argument is directed to that point, as tho Times must have steu in culling out its quotation ; so that it is consciously sophistical. Of the various reasons for conferring the power on the President, the particular one quoted might not have required his exclu sive possession of it ; but his exclusive pos session of it in cases of treason is what the whole combined argument aims to justify. Immediately after the first sentence of the Times's quotation, Hamilton states the ob jection (for which, and other matters it could not meet, the Times substitutes cou veniet asterisks) he undertook to removo in the following language : " This," (the par doning power in treason,) "it has been " urged, ought to have depended upon tho " assent of one or both branches of the "legislative body." This very exclusion of Congress which tho argument of Hamil ton was directed to justify, the Times, by garbling its quotation, distorts his lan guage into denying. Is this honorable ar gumentation '? But we have even higher authority than. Hamilton, namely, tho debates and vote in the Federal Convention. When tho clause relating to pardons was under considera tion, Mr. Ilandolph, of Virginia, moved to amend by excepting ' cases of treason." After a debate in which several of the most eminent members participated, the amend ment was lost, only two States (Virginia and Georgia) voting in its favor. A few extracts, (as well as the vote) will show with what re soluteness of determination the framers of tho Constitution shut out Congress from the prerogative of pardon : Gouvemeur Morris " had rather there should he no pardon for treason, than let the power devolve on the Legislature." Mr. Wilson (praised by Washington as one of the soundest and ablest members of tho body, and afterwards appointed by him as one of the Chief-Jrstices of the Su preme Court) said, "Pardon is necessary for cases of treason and is best placed in tho hands of the Executive." Bnfus King " thought it would be incon sistent w ith the constitutional separation of the executive and legislat've powers to let the prerogative be exercised by the latter. A legislative body is utterly unfit for tho purpose. They are governed too much by the passions of the moment. In Massachu setts one assembly would have hung all the insurgents in that State ; the next was equally disposed to pardon them all." that the lramers oi the Constitution ueci- j (q oxelKe Congress from all particina tion in the pardoning and amnesty power. Whether their reasoning was sound or un- whether Congress was totally excluded for , tphsotis or for bad reasorm in notion" - rt to the purpose : it suffices that, in point ot fact, they were meant to be, and arc, total - j excluded i KXIOM WULDOX. The Lu in rill eil C'oiifctlci'ulc Dtail Prominent Citizens. .XKath of Correspondence of the Petersburg Express. Weldon, N. C, November 13, 1SC0. Dear LVprtss : As a matter of mournful inter cut to some of our countrymen and countrywomen, I send tho following list of names of Conf'cdi raie soldiers who are buried near this place : Lee Burlison, 13th N. C. Regiment, died Oct.i ber 13th, 1800. B. W. Enymett, 3d N. C. Cavalry Regiment, dird January 7th, 1S05. James Galian, Co. A. 5(Ith N. C. Regiment, died January l'Jth" 186:1. John Woodiin, 5Cth N. C. Regiment, died De cember 17th, 1862. A. Milam, 52d N. C. Regiment, died January 13th, 1863. B. W. Hogan, 41th N. C. Regiment, died Decem ber 2 2d, 1862. Henry Dean, N. C. Stale Guards, died Decem ber 27th, 1862. Samuel Summers, 47th N. C. Regiment. J. Heanien, 42d N. C. Regiment. E. Page. R. Foster, 42d N. C. Regiment. W. T. Triglett. Henry Puruell, " from Lumbertort, K. C." M. H. Wilkerson, died September l'Jth, 1862... B. Martin, 56th N. C. Regiment. J. Edwards, G3d N. C. Regiment. W. F. Kinson. D. Evans, 41th "V. C. Regiment. Miles Spright, Co. B. 2Uh N. C Regiment. A. Hare, Co. A, 2(ith N. C. 1U -grmcr.t. II. L. Williams, Co. I, 3d Arkansas Re 'inieiit. B. Carrol, Co. A. Wright's Rattalioii. W. L. Williams, 1st Ttw Regiment. B. Brantley, tith JS. C. Regiment. M. Williams, Hth Ga. Reg'tntnt. A. U. Weaver, 4-1 th N. C. Regiment. E. A. Bell, (Jiith N. C. Regiment, divd M'av '..Til,, Lt. L. End.., Co. E, 1th N. C. Battalion R, - i ves. Lt. Merritt, 13th N. C. Reiment. S. (I Jl.idcn, 52lh N. C. riegimcnt. R. B. Fletcher, Co. B, 41st N. 0. Regiment, i i June, 18G3. Joseph Parrott, 2d Kotith Ciuoliua. Re:inu .it died 1G2. T. A. Gin, Holcomb'u Legio, died October l Jt!i, 15tI2. C. C. Bishop, Co. D, Palmetto Sharp Shooters. G. Kev, Co. D, liolcoinls Legion, died Juk 12th, 1861 D. 'L. Kiddle, oth S. C. Regiment. A. W. Reader, llolcomb's Legion. Lieut. W. McSweeu, Co. F, 7th S. C. Bilt.-Ji-.n, died June 2nd, 1WG1. I). B. Vaughan, lith Va. Regiment, died :,lui ! 25th, 1803. M. (. Campbell, Co. I, 8th Virginia Regimen'. J. Monroe, 11th Vr. Regiment, died Ju!v Ktii. 1811. C. R. Free-man, Dealing's Cavalrv, died Jul 7th, 18C1. E. L. Powell, Ittth Georgia Regiment. J. J. Clark, Co. 11, 5!)th Georgia Regiment. D. W. Tcaslcy, Co. F, 21st Georgia Volunt- died May 17th, 18C1. A. A. Mtdlin, Co. A, 03rd Georgia Regiineir. J. McDanieis, 30th Virginia "Regiment, d.-d April2oth, 18G3. B. McDoughaJ, 3rd Arkansas Regiment, i ' April 20th, 1803. T. B. Mitchell, Co. I, 47th Alabama RogluiMit. Charles Giil, 1st Louisiana Regiment. Tho list does not embrace all who are bnrii'i here ; many of the graves being without In ad boards, while the inscriptions upon other ha' become illegible. Mr. John Tormey, an esteemed eitiz; n f l! " town, died yesterday morning, and Dr. Win. Al ton died last night, at tho residence of ill s. v Joyner. Your3 truly. S 1: n 1. - VlKGIXIA CeXTRA.Ij lUlLUOAD. Til') iHl- nual Report of the operations of this road makes the following exhibit : Total expei.ditnres -27, :.'' Total gross Receipts. 487,1 h' 1" Excess of Expenditures. .'. $140,201 i t Tho expenditures are properly divided into ordinary and extraordinary, the latter being those made necessary bv the late war and amount to $260,337 13, "having Ihvii disbursed on reconstruction and re-equipment account. This would shoAV on the ordinary transactions of the year a prolit of 3120, 13G 08. The total indebtedness of the company is $1,680,632 33.
Wilmington Journal [1844-1895] (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 29, 1866, edition 1
2
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75