North Carolina Newspapers

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I.' E. PELL, 8lawPrtalr.
1 .Tha ireulstloa f U Baariaai. auks UuoVtf
th aiost siraM Bl!a ef advsrtUloa .la tta
3 iLt Sim lr published vry Me4y
r, '
r saai.v m BatanUys and Wodadays.
Advartisasswto, eapybi( th sbm of 10 line t
ialoa typs or less, whtota w tall a sqaar w ekari
follows fir iassrUoa W tb weakly :
Cekly, nyar, la aivaaeo,
v For a mrtiiv.
- tor t iassrtiws.
a m 1
Bonil-waskty, ons Ju, la adrsiies,
, For oat smth. -.
; .VortwauoarJi, - f
For six months,
yor year.
Boml-weakly, six noathi la advaao,
Daily, oa yaar,
Daily, six months, '
Daily, thrss months,
VOL. 1.
NO. 63,
JOB W0BK ssoeutcd wiU aaataoss at tbs bsari
aaiiOrnc. , ....- '
ally, ons mnth,
U-i- .-ir i, x-n m a ti -r - rrm -it- - -m ' -r "fl TTT - .. . I
! T; J ' JUL 1 i U,' . ;.' h
a II II 1 1 n : vx ii I.,: .-II" 1 1 I I it i i - ii ... L ;-
WOHll HATIIKHR K78 yfUKH f'lltury Clay. s ... -.
i et
f 1
ti from the First Report of the Pob-
fremrr to the legiiltort of Worth
iTonour ooluniita una Utu to
to jremto it iinpMaibla to publish the
repnrt lot Kemp IV Battle, Eq.. on the Finances
of the bte. The ttjiort contains many valua
ble attiljj Jfljfeartl to Ibe public debt,
which mjnot interuL, the general reader, and
wliicli Would occupy more space tliun we ean
now nffortl. Wo give m eatracU :
To the General AiuemMjitf Worth Carolina
I liitve tbc honor to sufcnit the accompanying
report of the opcratioilk of this department
since tbe inauguration oile permanent State
government, January Ut, I&'O.
Table X exliiMU the pwli3 accounta. The
larpc aggregatea of the debit and credits re
sult from the requirement of ,tl e Funding Act
of March 10th, 1860, that I sb l sell the new
liomis, and with the proceed! discharge the
past due bonds nd coupons, in' nsequence of
r i . i .2 m .. :
actual sale and raymebt. instead a mere ex
rhamre of secnritii-ai
The small amount of public taxA paid in,
arises from the postponement by thmiXleneral
Aiwembt of the rorurn dnv. from tl lst ot
October to 1st ofiDer, suoscqueui
-- - . t
Convention to 1st .la
miry, 18C7
1105 TAXES.
Table B exhibits
under the Revenue
ic returns of tbc
ilinance ol the (
tion. Total 131,1
02. This sum
hereafter, to some cxt
at. increasea. in
Pasnvlunlc, Burke, and
. Counties, 1. e.
son, no person was
taxes under the Ordi
si I fled as collect
nee, anu ny Act o:
sembfV the present Flv
ITS were charffed
4 the duty, with dirccti
to make returns
II Vr the
kt feral
the other State taxes
I ury:
payable into the'
Afiin. sundry perm
have refuel to
swer as to their linbilii
- to taxes under saiv
t- Ordinance, on the e
ad, that for businc'
.done, while martial la'
prevailed, they coul
- w togall y ,ha , taxed
Stata. Cases of indictnii
t under the Ordinance
am now nendinir in ourfuDreme Court, and in
Tolve important questioi as to the powers of
the Convention in enfordr.g tho He venue Laws
'during the year 18i.
- -Table C contains the afconU of the Literary
; Fund.
i There is a very great kterest manifested at
home and al)road in the llmockl condition of
.. North Carolina. At the tame time, I am con
Ivitwedtrom the numerous letters to my depart
I mont for informatiou, tbe absorbing events
of the last six years have left in tliemimU of
' - Imt few of ur pwiplc an ;equrate remcmbrancr
of the public debt, and of the public asset. I
' think it proper, therefore, to enter more into
' detail on Jtbeae eubjects Uiim has herct)fora
lmnauL,ihat it tnajL he kpown precisely
where we stand. '
Tal)le D contains a deri.Uve list of the
lKmds outstanding agaii.rt t!o Htatc, dated
prior toTHay 20th, 1801, ardsinee lt.. Total
. amount,! 11,4:53.000; the amount of annual in
t tereat on which is t685,050. Adding ihe esti
mated amount of interest due on said debt,
atilt unfunded, eay 1,600,000, up to and inclu
sive ot October 1st, 1866 we have tlie total
, ante-war and port-war debt, on 1st tMolier.
uui it 3 023.000. The exict amount of In
tcrcat unfunded cannot be atcertained bocause
coupon of oW borKla and of thole issued dn
rinit the war, wef paid during the war, without
a separate record lieing kept of the amounts of
Here follow statistics of the pnblic dtHt in
- detail, which we omit:
While on thi euhjecT wilt slate tbat aaiiy
f thetdd bwnla, fcr- varioua waoii, baKtn
doraenenU on them which injurUm! : v affect their
sale, commonly called "sc ratched lon!s."
- Manv of these endorsement were under the
: :iL:i-iia law of 185-,67 : nearly all were
mde with a view to security I
In my
iudrment,itwouldbe to the inter t of the
f fttate, to aiv In exchange to all bona tide hold
p ' era of these "scratched bond," new bod of
llmuer dates, on payment iy ue muuer m
'..Til Hum to cover the expenses of tli now is-
small sum to cover
TUB .WAR. ,:W,
Tnble iB is a descriptive lint ol the bendsla
,U01 for Internal ImprovemeBt purpose durinff
!h-late war, dated since May Sotti, Mh
; nrU to rh7,Ct?C,aouang fLIH '.000
' These are i coupon uouas, pay w' ir-
f wJaLln ItaWgh, in "good nd lawf money
l. - drd.w 8Uteof Arnica.-.
ni St here XhK
Tha above: mentioneil bond, (except those for
used In Prcr".;:? t .hesc were issued
Many ot
Improreu-- - ,,,.,.1 than at the
J W,,e" tSmoT Nearly all being unaleable, are
rro-ltLns. B but just that
L ntw & '.hould be give u . exchange .or
-TaWe F . -rW to May .
vll9i J2Zm t5, asd where pa,:
TrsborK4. .U Treasury note.
" ?'.. . . l. . . j. mrleral Durnoscs. anil
,eU U"n rr--r.J Bank, and indi-
Talie ri i'
Treasury NoU-s,
Bank, ,
J '
jf, $ 18,626,259,25
- Tetar,
. AiWUlnmi ant l.v
Of this amount . : . ' . . '
Mr Joi n White, ft 8tae Agent, as being
I sS dUit i" UoHM-chcster and Count,
Baul, Manchester, ftf. "B er been
used for the purpose tor wnich they were issued,
i. n, as colldlerali in negotiating loani, . .
The Sinking Fund haa to iu credit in war
bonds, 3,872,.r)00, and $130,000 were redeemed
during the war, by sale of the Steamer vMwhkv
Inducting these items, aggregating $3,502,
500, we have, as fares is exhibited by tbe books
of the Treasury, tbe debt ol the State, contrac
ted during tha war, for general purposes, out.
standing, $13,123,759,23. The loans contracted
abroad for blockade operations, were not ne
gotiated through this Department, and I have
no official information of their amount
It is impossible to desiirnate the various ob
jects fur which tho above debt was contracted.
rroceeds of sales of Bonds, Treasury notes,
taxes, ic, were paid out of the Treasury, Indis
criminately, tor all purposes, civil and militnry.
pome issues were mae in payment of old uomu
and roupons of the State maturing, others for
salaries of judicial and other civil officers, and
others in support ol our charitable institution.
Some $3,000,1)00 of note, which can be indents
tied, were paid out towards the support of in
digent families of Soldiers. In some cases the
securities, issued for object not in aid of the
war, can be klentined, but for tbe most part, it
is impossible to prove for what purpose they left
the Treasury.
Table I. gives a statement of the stocks and
securities held by the State, vit : Stocks in Kail
Knad and Canal Companies, f 5,934,500. Honda
with interest on various corporatlons,$3,412,933
22. Total $9,347,455,22.
Mr. Battle here gives a minute description of
the character of these various securities, under
what acts isssned, most valuable for reference.
lie continue :
. I bare itveo a full statement f the liabilities.
of the State, and o'f the assets for which these
liabilities mostly were created. It will be no
ticed that the annual interest, even after the
past due bonds and eoupons arc lunded, and if
the bonds issued during the war to the Kail
Road Companies le included, will not exceed
Tbe Blocks and londs held by the rotate,
StnounT lir lfS;3T,m,S2. Many trf whieb,
under the revival of travel and production, will
contribute to relieve tbc public bnrden. A
State as great in all tho resources which swell a
nation's wealth, when capital shall regain con
fidence, and give ua potent aid to industry, will
be ir" this small tax, not one third of one per
t en: of the $300,000,000 of our property, w ith
out iierception of its weight.
Whether the State has sufficiently recovered
from liiv Insaes of the late disastrous struggle,
and tie embarrassments caused by the sudden
chang" of the labor system, to be able to enter
now, i n the regular payment of the interest on
the P'.Mic debt, rests peculiarly within tbe
knowl Ige, and within the decision ot the re
present itives of the eople, who are familiar
with tb' ir condition.
I kn w you will realize the importance of an
early re iirn to a prompt fulfillment ot our obli
gations. By every consideration of enlightened
public . licy, by regard to the pecuniary and
social sUoding of our citizens, wherever in the
civilized world the puruit,pf bosincrs or plea
sure miiv lead them, in repftct to the lair name
ot North Carolina, whose plighted world only
the stem, ft necessity has ever levn able to
break, wi are loiind as soon as OoJ gives us the
strength, t' redeem, our promise.
The va-t wealth of our Western countiea,
now lockcl up within their rocky barriers, ap
peal to us not to let our railroads come to dis
graceful ruin, alter penetrating to the base of
the mountains they were designed to cross.
The U-nertts of the works already built by
the credit of the State, ar immeasurably greater
than the capital -strielt wmVw fep rwtenta thoif
cost. They liave added millions to our taxa
ble property. They still transport to the mar
kets of tlie world the work ol our hands and
the produce of our soil. Thty are every day
becoming stronger for future developement.--Art
natron htt deai aotia fall. WLuwl in
the march ot civiliiatioo are toiling to multi
ply and extend such highways. When we are
ready to cast away these aid to progress, and
bavaau ahart ia tht Tiftories of scumoa- and
industry over the material world, then we toay
inglrtriously throw aside all care for our fast
increasing debt, until it accumulated weight
is too gricvoua for our strength.
KI NPINO ACT Olf MAKCU 10T., 1800.
T.l.ii. r ...l,il,lt In detail the operations ot
this department, in cxwcuUng the above Act -Under
this law, new six percent, coupon IkhhIs,
dat.'d January 1st., 116, interest payable at
,i... v(i,.nnr, llnnlc ol lUMinoiic in me cut
Nuw York, sd annually, on the 1st. day of j
July and Jauuary of each year, have been is
sued 1n exchange for Itonds. and coupons ol
bonds, issued under Acts' passed prior to May
SOth., lHtll, to the amount ol $1,435,000 on
October 1st., 1866.
The Act requires me to sell the new bonds,
at not teas than par, and with tho proceeds pay
the niist due bonds and interest, and the en
tries on the book, of this department arc ac-
e.rding V tins uction.
The effect is to require inieresi w oecnargmi
from January 1st., 1866, on the new bonds, but
to allo none on the coupon, offered in ex
change, his produce many complaint, hold
er. ontcno;,tvg that coupons due January 1st.,
1806, and enwrior thereto, should justly bear
interest in tbe anie manner, as by the Act, past
due bonds beer "n tercet from maturity until
The construction o the low, adopted by ine,
is in accordance with t.e settled practice of thi.
denartmcnt for many ynrs. In deference to
holders of coupons, who jMuitioo is, J think.
reasonable, I bring uienian.r to your attention,
as in vour power only lies thv remedy.
A the operation of tbe Act on the fiction
ol an actual payment for the new bonds, I felt
bound to require applicants for 0 exchange
to Dav the accrued interest In cooptoa. or cur
rency. In this way, $1,409,99 in turrewy have
been received, wuicn ia ocpouei in ine rrcas
rj." ' "-" - :
The onlinancc of the Convention, ratified
i m It of .lune. 1866, entitled, "An Ordinano to
exchange the Stocks of the State for Itonds ris
sutid prior to My 21t, 18,' to
advertise in sorb newspapers a. I should select,
for scaled proposal, lor tbe exchange of stocks,
bond, and other interests, held by the State, for
the principal bonds itwued U fore the SOili. of
May, 1861.
Accordingly, I advertised in newspapers in
different portlonspf this State, Virginia, Wash
ington, New York, Baltimore nd Il)toii, lor
snch exchange, fixing the day lor opening bids,
as late as Novem1cr 1st., isiiil, in onl r that
parties desirousof making the exchangr milit
have opportunity of i'i inu the aiinuitl r-port"
by the (liffercnt Kail lb ) 1 an. I oilier corpora
tiling whoso sUxks were utl'ered. The bids wi re
ojiencd in presence ol the (Ijivernor nnd Comp
troller, as directed by law. The only stock for
which offers were made, was that of tin
Raleigh & Gaston ltail 15 ad Company, the
whole of which was tukeii at an aggregate pre
mium of $:i,333,87i.
Table M. shows the names of the meet sslul
bidilers and the premiums olTcrcd.
As the lxnds secured by liens held by the
State aro in part transactions bnd during the
war, I have postioned the offering them for ex
change under the law, until I could lay the mat
ter before you, that the interest claimed by the
State may he ascertained, and declared by you,
it you think advisable. I respect fully recom
mend that these transactions lc validated on
such terms as may be deemed just to the State
and to the holders of securities, issued for In
ternal Improvement purposes during the war.
Aomc dmur. l.ATtv ttcntr.
In compliance with the Act of Assembly, en
titled "An Act to authorize, tbc l'ublic Treasu
rer to receive nd invest tlie land scrip donated
to this State, for the establishment of an Agri
cultural College," I commissioned Hon. I). L.
Swain to proceed to Washington, and procure
the issue. In this he was successful, and on tbe
8th day of August, 18iti, the wrip was forward
ed to Raleigh, and is now in the Treasury.
Under tho act of Cnnirre. granting the scrip,
the States, who have iiu public lands, within
their limits, are not allowed to locate. their
scrip, but must sell the same. The at t of As
sembly directs the rubric Treasurer to sell the
scrip, "by ami with the ail vice and consent of
the Governor." In view of the dcprened state
of the land market, fifty cents per acre )eing
the usual selling price . for large amounts, tbe
Governor did not advise a sale, but preferred to
! tlie- matte pw f ymr- aetlou, . which
course met with my approval.
Good for North Carolina.
We are heartily glad to see that our friend
in the North Carolina Legislature have, at we
suggested, taken the necessary steps to stamp
some of the monstrous falsehoods recently
promulgated by bad ami ilesiguing men with of
ficial contradiction, it will Imj remembered that
we have already published altrneM of several
Munchausen like letters which purported to
give accounts of the persecutions of Union men
in North Carolina, and the puitial decision of
the Judiciary of that State, which consists of a
liotly of as pure and upright Judges as 'adorn
the bench in this country. We are glad to see
that several of these epistolary Daniels, rien to
judgement, have liecn summoned before a Cora
mittee of tho Legislature and examined, in or
der trr obtain the facts- upon wlth b their statrv
muota were based. When confronted with tho
committee -Mr. Blythe and bis companion? tf
the Rod Strjng fraternity wrre nnaltle to sub
stantiate their bac assertions, and stand Itelon
their fellow-citizens in the ignominious attitude
of delilterate falsifiers and calumniators.
This action ol the North Carolina Legislature
deserve applause, and we trust every fellow
who dares hereafter to assail either the Nople
orJudicior of any Southern State wilt lc
hunted up by Legislative action and examined
as to the truth of his statements.
If grievances exist retires can Ihi afforded,
ami if lies bave leen told their auihor can Ih
held up to public scorn. Sorf-Jk , IWt.
L Voice from the Middle Age.
"About the year 1316, the friend of Dante
succeeded in obtaining his restoration to his
country and his posses-i ns, on condition that
he should pay a certain sum of money, and,
'rntcrJne; ebnh,- there atrrw bimswlt uiUy,
ak pardon of the Republic. The following
was ids answer on the occasion, to one of his
kinsmen: 'From yom b-tter, which I received
with due Hsspcctaiul affection, I otcrve how
much you have at heart my restoration to my
country. I am bound to you tho more grate
fully, that an exile rarely finds fricOiL But,
after mature consideration, must, by my an
swer, disapHtint the wishes of some little
minds ; anil I Confide in tbe judgment to whit li
your impartiality ami prudence will lead you.
Your nephew and mine has written to mc, what
indeed liad I teen mentioned by ninny other
friends, that, by a decree concerning the exiles,
1 am allowed to return to Florence, provided I
pay a certain sum of money, anil submit to (lie
humiliation ot asking and receiving absolution ;
w Herein, I see two propositions that are ridicu
lous and impertinent. Is such an invitation to
return to his country glorious lor Dante, after
suficring in exile almost fifteen years I Far
from tbe man who is familiar with philosophy,
be tlie senseless baseness of a heart of earth,
Jhat eeuid do iko a little-sciolist, and imitate
the ijfamy ut some, others, by offering Limtelf
vp iuU were in chain. Far from tho man who
cries aloud for justice, this Compromise, by bis
moneyl with his persecutors. No, this is not
the w that shall lead mc lck to my country.
But I Aall return with hasty steps, if you or
any ot'.lr can open to mc a way that shall not
derogaiAfrom the fame and honrfr of Dante ;
but It 1 1 no such way Florcnccfin be entered,
then Fl -ncc I shall never enter. What ! shall
1 not ttfivhre enjoy the sight of the sun and
stars t ai4 may T not seek and contemplate, in
every contr of the earth under the canopy of
Heaven", rajsoling anal irelightftil trutli, wltlf
out first rendering myself inglorious, nn WVi-
mtmt, to f!: people and republic, of Florence T
Bread, I be, will not fail mc' " ,
FoRTKKa' ifo.NROB, December 30. A difficul
ty occurred liampton Ust night among a
party of negrbs, who made nn attack on a store
to revenge orating shot while endeavoring to
mcai. i ney-wwc uispcmra rrjr tne nnmary,
"Dar arc," sild a sable orator, addressing lii.
bretliercn, "tw fnatls to dis world. Do one am
a broad and nartbw road, dat leads lo perdi
tton ; de Oder a iJiarmw nnd ' broad rond, -dat
leads to sure deletion."
"If dat am dc OMe," .aid a sable hertTf "dis
cuuuq lnaiwiuui BiKtai Um waou.?.
:t'orresponl nee of the New Turk HrtnliL) ...
Health, Wealth and Resource of the Colo
nyMovements of Speculator. Advanta
ges Offered to Settle Sugar Planter Desirable-Kail
Arrangement, &c, &c.
IIm.i.k, liritish Ifontliiias, let. 27, 1800.
II K it Til III' IlKI.IXr'.
For ifi arsix weeks we have had not tbei ly autl
westerly wimls, w ilh alilind .nice ofi.iin, iu this
colony. I Mir nights ant iiiitt coltl, w hile the
middle ol tile day is exceedingly liol This
ought to luingehijls ami lewrs, I ul our towuis
so healthy that our doctors, are complaining uf
nothing to do, and one of them a lew days ago
said : "Well, it' Idou't have more lo do (shall
have to go to Santa Toma's," a small Belgian
set tlement ill the State of GnaUmalu, about mie
Iiuudrcd and thirty miles from hen-, where the
inhabitants are always sick and where tin y nflen
The rainy weather -is bringing forward the
cans crop, which is said v Im the iinxtt prom
ising that has been rained in this colony. Titer
baa been a number of sugar planter from tbe
State of Iiuisiana down here, prospecting for
.sugar lands. They all admit that our lands and
our sugar cane ant the best they ever saw ; evtn
St. Mary's Parish, they say, is not to be com
pared with British Honduras.
Tlie only draw back to this colony is the high
irice of lands. In former times nearly all the
and. in the colony were given away by grants
Irom tlie crown, as mahogany or logwood works,
It then was not pretended that the grants inclu
ded tbc lands, but only the wood growing
thereon ; and with that understanding a grant
for three miles frontage, on a river or creek ex
tending eight mile back, was sold by the own
ers of such grants, as any other piece of per
sonal property, by a simple bill i parcels. In
this way, and for sums ranging from one hun
dred to a thousand dollars, these grant have
been bought np by two mahogany cutting es
tablishments, who, with a shrewdness and tore
Sfgul setdotn Mwwtctfirvthrftrtwt arute; gt
law passed by tbe loca) Legislature, called the
"Lands Title act," by which law all grants, on
being duly registered under this act, were to
bave the force of a "fee simple" title to the soil,
as well as to the wood growing thereon. Thus
for a very imxlerate outlay nearly all the valua
blc Iambi of this colony have passed into the
hands of the above two linns, and they, know
ing tbc richness of the mil, now hold tbe lands
at prices far alxtie lands in the surrounding
orrras to sr-rri Kas mt thk onvFKMOH of
Whatever lands are still ungrunted (called
the Crown lands) the Governor is offering ou
lie most accommodating terms to actual set
Icr. Now. as jnir radical political managers
, i tin) North are anxious to drive the sugar
Ylantcrs from the Unite,! States-, we sbalf t
lad to receive them ; and, moreover, we shall
Jive them all the assistance and encouragement
'le can, not the least of which arc. very tight
fpixi , a giMd, stable, free government a free
and ns lilwral as was that of the United States
in its most palmy days.
Tlie late rains have swollen all our rivers, anil
T1-I ipiaiitltii s of mahogany, which (in some
rases) have been waiting two and three years
for iIvmmIs, have come out and are now waiting
,)ittitiem. We I, a Mi all the element of very
flonri.liiug colony, nnd as soon as our land
holders see their own interest, and begin to give
the ld away t astttt settltira, lirititth UtW
duraa will Imxoiub one of the richest and most
prosperous colonics in the world. Our colony
includes a purl of the mountainous lands in the
interior. Th. se mountains abound in marble,
granite", sbibM roti, stiver, gold and otber ininc-
rahvlLii-ss ; niH also, on thcjnrrrase ot onrpii
ulatiim, pour wealtii into our colony.
SI HJIITTF. foil AMKIIII.Aa pimn as o mus'.
The late war in your country has made pro
v i Sri-dear tbl uaJiaMbiii a iimaaurr) been
thrown on our owu resource. The conecpicnec
is that we have raised gnat quantities of plan
tains, which am used in the place of flour, and
we have lour vr live )K'rsoiis engaged In curing
Hirk. Them; art it Its take tile place of the
port ami (tour widt h we formerly imported
from the United States.
The brig Grae Worthington, which left New
Yoik on the Stub of Septemlier, haa not yet
arrived here. We fear she is lost, a aha was a
little Melliusali isb. and we have bad rough
weather on the Allanlic for the pa it two
kw nut. AHiusnmrvr.
The Govt rn,.r bus called the Legislative At
seiiibly togi'tlu r io special session. It is sup
Cocd this session will make soma mora favora
le mail arrangements; tni I it i. hoped this will
secure ..Uauapurl via . Jcw Orlcanjr, which
wnirfd bring us within six days of London,
by tbu Atlantic cable uml the other telegraphs.
Our mail arnumeiiienis have lieen very Irregu
lar for the iiit-l lifiti n moniiis. The Koyal Mail
Cinooanv ( liitii'iil so iitin Ii for their work that
"our Aisembly matle a contriHit with the Liver-
pool, Vt llniyi unit I'licilie nleamship Com
pany ; but I ho work was not done at all. Ho
much for economy. i
lion m k VwNMiii. -The meanest looking
nisii in itte. ( 'inrgn -trm, prty was-tbe "rene-gifilrt!-iy!i,d.
Wasaw )eiisn peli
to him or show' him nny illetHloii while here,
notwiUistiuiit'uig hcJiii tmmlKr . ofacqnaio-:.
tnmin iu this city, and many Presbyterian
brethren. II" had a hail" dog look, aqd even
seemed to lr ash sined nl himself. While Fos
ter anil Wale, uml Howard and others, were
trcnteil rcspcctlfiHy, no man had a word for the
apostate Maynunl. If we can respect the enemy,-
ho Jrmir,b'fion, education, and even
prejudices, opposel ua during that war, weeah
only duspiso the man who was. of u and yet
againat us. Iiilamou, forever be hi. nami
l,ynehbnrg Vityiniim.
A bill of fur published in the Savahnah AJ
terlittr announces green pens among the en
tret. .. . 1 -' - -
For the Sentinel.
Mrssks. Editor. ; I notice, in your Semi-
Weekly of luth tnst.,' ilie speech made by the
Hon. Josiali Turner, at the meeting' or the
tttoukuulJer of tUa North Caroliua Railroad
Company, held at Raleigl.
Mr. Turner is au intelligent gentleman, a
good speaker and ready writer, and .fates aonie
good and true things. Hut, into other men, ne
doc not know everything, and ia thereioio
liable to err and make random statement that
may mislead otlicn,-cleciully when he under
takes to apeak ol, the motives of men's actions,
with which lie is not acquainted, or about mat
ters ol which ho ha not much practical experi
ence or correct information. It appear, to me
that some of the gentleman's statements are
liable to those objections.
It is true, n he states, that old North Caroli
na has acted a liberal part towards the North
Carolina Railroad, and well .he might ; for it is
a great work, and, if properly managed, will
prove a blessing, and assist much in making
available the resource, of tbe country, and
thereby enrich the State. It is, also, too true,
that the buslneH of the Company, thai far, has
not been a well managed, in aome particulars,
as it might nd ought to have been. But I
rant say it isbtrictly true tbat "in 1862 the Leg
islature gave the Stockholder, what they now
ask." i.
I think if the gentleman will compare the
bills ha will find difference between them.
The first bill, while it gave the Stockholders
the control of the Road, at the same tlme.tnok
the power from the largest Stockholders who
were most deeply interested in the prosperity
of the Road, aud left it with those who had con
tributed least to build it, and had, therefore,
less interest in its success. A difference which
some of the large Stockholder, thought of such
vast importance to tbe future success of the
Road, that they felt const fai ncd, without "po
litical or pernicious reasons," to vote against
the amendment, which, otherwise, was very ac
ceptable to them.
It may be that some voted for and also
against the amendment, for the reasons aligned
by the gentleman, that I dont know. Itut I
do know that a large majority of the votea cast
in tho BPgatW givoa flic, tk raastuu above .
stated by me.
The lamented Gov. Morehead, one of tho first
and greatest of our Railroad men. labored earn
estly to have the first amendment adopted by
the Skxdtboblc-rs ; but, Irom bis after experi
ence, ami-remarks make on that subject, it is
my humble opinion, had he been spared and
were he with us now, he would warn us, for the
good of the Road, not to put such a clause in the
second bill.
Many of the Stockholders, w ho are deeply
interested in the proerity of the ltoad, feel as
the Hon. Gov. Swain once expressed himself at
a meeting of the Stockholders, when it was whis-iicn-d
that the Directors, appointed by the
State, owned little or no stock in tbe Road :
"I prefer having the men, who are to direct the
business of the Company in which I am, to be
as deeply interested in their pockets, a. I am
myself." Ia there not wisdom in this prefer
ence I Who objects to a man having rule in
any great improvement because he has invested
too much funds in it, and thereby show, too
much interest in its prnscrity t Man is a self
ish Iteing, anitT admit that, in corporation, in
stituted solely for the ..purpose of making
money, out ol money transactions, it may be
prudent to have a cluck to prevent avarice
from over reaching the public weal. Hut there
is no necessity for suc h a check in our public
Is the. State, or the small Stockholders, afraid
that the stock will become too valuable, ami
pay cvfcssive dividends) The general com
nUiitt h.t beea ami now ia, that there ha been,
but lililc, ami now are no dividends. And it is
fran-d by some that there never will lie, unless
tin t ontioT of the road is given to those whose
pockets are deeply interested irf it. jinisperity.
And Tor these reasons, they have itctitmned the
It has born, and still is. difficult, yea even"
imiossiblc, to gi t private individuals, as a
general thing, to take as much interest iu the
way of stock in our great Improvements a they
otigtit tdTfnr A mt tllr buthting mf thff-ffr V.
Had Road wa not an exception; alt hough
many public -j.irited men i moc forward as a
Imici el lirolhus, icsnimi lo honor Ihc State
an. I In-lit 111 I heir country, and jileilgesUlheir sub
stance to secure the ro.t.l, iiihiin stiMAlmif with
their thousands and did not help, an. I they now
enjoy the benefit. - '
l'uihr these circtitnstanc', thies not good
policy suggest :is au inducement for capitalists
o do their dun lowalils lite encouragement
mid support uf our lull rual l iiiroveme .lH, that
the pnww of stock i pnlitrgttt in a greater ratio
as it in leases, instead ol licing diminished I
I'miI, have bicn tign iiig Si let us re
tuiu to Mr. Turner's n inaik wln-n be. further j
any: Tbe SliHe r .i.l ujouey ,J he Jjtockliold- I
era did iml. Tin y paitl in work at such liberal
price as to make Ibe road cost one million
nwnsi t)tti. ii- ormiual estiuiaxe. Stv we may
say the biige !ik khot.lers, who paid their sub
acriptiou i'i work in.-l. atl ol money, bold t heir
stock without having paid a dime tor it.'
"Three miliions would have built tho roud, but
ii cost four millions. The Stockholder and
contractors tVu wrrk getting the fourth million
in the wy ol stock. In other words, there
whs a million given in the way ot bounty to
those w ho would do work on the1 mad." "1 To
gret tliajjjittfii'ntleinuq made stleh statement.
Itec inse of bis lieing a Director, it may be p re
sound that heJtnowe, and, from his general In
telligence, on soiiic !lliier stilii.'cta, they may. Ijfi
iH lioveti by tbe inexierieuceu and thnaa who
have not examined into the true state of th
Tcase, and' wifl acciirdlngly" "tirente- a prejudice
against our public work, and do gross injus
tice to those noble, patriotic men who came for
ward and gave their time and money (In tome
case their all) to secure that great State Work.
I suppose, tho gentleman I honest, and express
ed his opinion. But do either practical ex
txriencc or (acta sustain -hi statement I See
Col. Walter Gwynn's report to the board of
Director, January lutli. 1850, In whleli Mint
talented engineer aay. :
- "I have repeatedly aaid publicly, and,- per.
cicving no impropriety in it, I avail myself of
this occasion to aay, that, in my experience, now
exceeding thirty years, I have, noivfouod-ou any
public wOrk, with which I haveWn connected,
act ot contractors mure reliable than those I .
have had to deal with on the N. C. Railroad.
I consider it proper here to remark, tbat the
work, though md tot partly iu stock tbe ex .
act ratio of which I am not able to state, though
I believe it may be put down at about two fifths,
that is, two of stock to throe of cash payments
was originally estimated for, let, and completed
at cash prices ; and I feel fully justified in sta
ting that the ltoad hM.JEoat haa than jf let .
wholly for cash." ,
This report ttan goes on to show, by inco'n- '
tcstlblo fuuU and figures, tlwt the whole Work,
as originally estimated for, was executed for -$7,283
under tbe estimate: and also ahows
conclusively, that tlie greof cost, over and aljovc
what was at first expected, was caused by the
great rise in the price of iron, the. cost' of real
estate, machinery, ic, and had no connection,
whatever, with the original contractors. Lalxir,
provision, and everything iucreoacd in pneu ,
during the progress id the work. Hut no in
crease of pay was luude to rotitracior.
Is the geutlemau one of tu origimd-Stock -holders
ami contractors, and ignorant of tlieso
things? If so, I would intoriu him (by stub-i
Ixini tacts ami figures, if necessary) that lliero'
was much work done on-tbe roud, by tbe -Original
contractors, the pay for which did not
nmonnt toasumeb m cash, an,l stock, by ten t
twenty iur cent, as was paid in cash, on some
adjoining roads at that time, Tberel'on', "it w
neither geib rous nor just" to imply that the
"pain in the stomach" was caused by them. The
truth is, that sonic uf these noble men, who
came forward in their itcal to secure the build
ing of the Road, laid ton large an offering upon
the altar ol patriotism, and it took their all, anil
broke them up, while there are others, that are
still groaning under the debts they contracted
to meet their engagements. There are others,
who hail larger means in proportion to their ""
stock, who were enabled to work it out without
getting in debt, but found, in the end, that they
would have saved both timo and money, bad
they paid direct cash for their stock, as a large
number of subscribers did. Aud I . know ot
some whose contract turned out favorably, who
sustained no loss, except in the depreciation ol
their stuck- and- l-dwHwHftct'e"- "Aay teHt-ffrxi4-- -
many ot this class. 11 the gentleman from Or
ange got his stock by working on the road
without having jmid dtttt far it, why that
wotild be another class: but he bcim? tbu onlr
one I know of, I think his class most be small,
while I know of many of the first named classes,
ami might give a list of them. A few will sul
fioc as. example!; : The gentleman who mode the
largest individual subscription, wrought out his
contracts and paid hi. stock, lountl, to bis- sor
row, that Ids contracts broke him. In another
case $2,500 of stock was taken and worked '
out, at a cost to the contractor of $5,591,31.
Another who took $5,000 stock, and contract,
lound, when his contract was finished, that his
stock cost him over $7,000 cash, besides bis
trouble. Jlut enmigli-. -
I give these hard num. not from hcarsav. or -
imagination, but fVom tacts, and figures. And
I think they conclusively prove, tTiur whiTe iTut
original Stockholders and coivtractors did not
give "a pain in the stomadi ' to the corpora
tion, that thu building uf the rimd did give "a
pain in the stomach" to some of them. Will
not an intelligent, correct public sentiment
commiserate the losses of these worthy public
spirited men, and delight to do them honor? '
' Hoping, Messrs. Editors, that you will exense
tlis(to me unconscious) lengthy communication,
and that my inexperienced jkh may not by its
green apple give you '-A pain in tbe stomach '
I , II . ..- A f . - ,
The New York World thinks tbe Sot'Tli
hottM not WintimitJti4 b the ihasata f
territorializing these States. It says:
"Congress has no executive au'Jiority whatever.
nor ha it any power to coerce the two great cts. ' t
ordinate departments of the ttoveromeiit.n hiiii
are as indepcmlent in their rciective spheres a '
tbc4w Hrtwstra-Cmgrytsa'w4u;'-theiM!, Tmf--
framing of an etHtaent territorializing law adt
quote to the gourmm,nt f great, populous
Slates; adequate to their government in oium
I.lh l'.t-ttt-n Wilt .. n.l .!..." '.ir t. 'W '
nifcitiu m'lii.m inv ia -'2iLAULiuu-iiui , i hi
President, will Ie fiuind, on trial, a task nf
such difficulty, thai it is doubtful if Congress cm
be brought to agrw, ob the detail of t bill. The''
certaintyof its lieing vetoed, renders it noCiWay
that it should command the assent of two thirds
of both Houses, a degree of nnanimlty which
the- IteptiWH-an party in Congress will not easi
ly reach in the details o eo impracticable a pro
ject Hut these difficulties, w hatever their va'
ne, may lie safely laid out ot the estimate, since
the project is certain to lie wrecked against the
Supreme Court. We would gladly leant fron
the. Republicans whu brandish this toelkh met-
ace, bow a law ia to beentorced which the Su
preme Court declare, unconstitutional. Wlitn
this can be told, the threat. may, perhaps, carry
ionic lerrof.". ' -
I Alabama a Statoh a TtBKiTOKY f The
question -uf U -Uttt f vt Souther rrea
latily in rebellion 1 about to come beforu tbu ;
United States Supntne Court for decision. A
man named Jordan was recently brought befora
tlie Federal District Court sitting in ilontmim
cry, Alabama, on a chargS of .felony, auj. lav
ing been found guilty waentencecl, by Judge
Bustecd, to twenty-one yoar imprisonment.
Hi. counsel bave determined to apply tt Uie
Supreme Court for a Writ of kaicam eorjmi, on
the ground that Alabama ia not a State, but a
territory, and as such Judge Ilupteed't District
Court had bo legal statu. Tbu matter will tbu
be brought fairl tsd spianly ba,ra ths knt
ed judge of our higllesl JuUkial trilmiml, Un.l.
if they will meet the question ojieuly and nli
cVsr a plain decision, woToayxpect a "aotmion
of what is now a very -eomjilicatcil, political
subject. &-JVV York Ihrald.
t i I
Napoleon has a kidney disease : Victor Kntan
Uel a paraly aetl rigid arm : Uismiu k ia sick ; thu
Empress Carlotta crazy ; the hair of both the
Ijmporor bfAnstriaariitthetitieen of liimiVvcr
has turned gray within arywr; the Pope weeps
day and night, and Victoria still luoodsovcrtlie
past with profound melancholy. Who wouldn't
' wear a crown f fir; --.- "
.A Joan from tbo German-: The paths ot
kahallopaUiy,Ujidxij)tby and homopatbr-
... VJ.
X: '
t, , i N
.?. -. ,
, v-m. ,
Ii i
f "
. . -

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