Newspapers / Carolina Watchman (Salisbury, N.C.) / Feb. 4, 1837, edition 1 / Page 2
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f - rf Pu-Aaxhw i -f n.T - - t'ix! v'Vr vvvA;Y v ;L &?VrA wf hVU Ji-k mlVVy Vv ivr -0- i ; t- 4 4 t0 I i I t demanded forf SfliAMILTpy JON K TERMS. f l.rittfA9, may hereafter be 7 had, I'jt T??5Ulid fifty Cents per year. f 1 : 1 1 1 w . i . r new subscribers who JiH I ... jfanc- -the whUara at. one payment, dtlie laru?r fr ne year at Two Dqr- shah .-. :. fltf4irtrt f thji atirr. rI 4. iti sa: berths (had cob tin ue, .?: ...4' gjlon as the 'same class -tft!.Ww -7,;. . , , ., 'Vs Will be bfaarged as .'other subscri Lrs who do! not jaydtning lae year .r 'ied three jjouare maii cuses , , T, ' ...ill h-. r.r i iico than liWS WiUtW cw:ncu jui . ifji be dintitiued but at the p- uulcb-nu arreares are iaid Hai t. ihn, Kdiior rnost be po$l H 1 i erlivUe key will certainly oct be vt- lutlt t'T i A.- ;.. insertion aftencarih iJAnt Will: be- inserted fur less " H ehn tinned until order TLiJ. itoo thern.1 where no directions 1. -.Jn L Ji a'Dfrflar pef nvnth for ach squa e ,lt)rie ofchjMiging the yon every y riren. SPEECH Of 71?. ME.tinfJYCEK? L t I T l.i. I I- ' - -r.-'rt:-.-l-ikt -r-5- -". r- y -- -3.7-4 Tt commissioner irom smnii aroiin oeiinc Snpjos.aW outlet made Vir. the Iron of loestea; f te Senate otNorth rol.najorMhe cop Ute.d .themVU taWinr lii ft tn rnnfor Rnnktnv Privileges OnJm I . . ...i.t. , J-u- f r.r T r ? - I" 7- . . i. 1 v nejpi wuHiiiayf t-i,uw fM "Tr ricen in ensure a sound , flockholdqrs of llie.Ctncinii.ti & flrl, ,,r. cbarac!cr will iHJ.ojIrticted.aofll Vlait ireinain.n J i,nn nan nuau Aouipaujr ucmtviu ruii. . 1837. Concluded.) 1837. Still, wherever .the scheme is presented ancifit is but nataial to feipect opposition fr(i this quarter; ind it thereore: becomes ihertnore necessary, that every man - should fivrji liis ownopitnpQ. After all.' when the ma tie 1 is once explained, theie is no great mystery about it. A Bank J5 no more than an Association of' individuals, who, each hnvijiii some money, to .spare,' agree to add tt titlier, tor the purpise of lending jit out to tllbsi; who want.' Such a companjwheii confined to this ilject can-do no sort of harm to the community. On the contrary, boilijj parties are hem-fitted -Ihe. borrower by lit; accommodaliou, the lender "by the intorWst he recew ;s in retwn. , It is not un til this company begins to issue notes.which But wlientheJrbad isexiendediotqNo'tb OTrfalofy: awcie.:ipitir t r-rii.ttMt aKiinlant AamAii Cnr f 9 rl will .them within thp limit1 of ithp Stat VvaM" u V1 va t a 1 . aue aa - 4 V j ; j 1 - article,ifie isoununfesa of he correneyj thereby 'I ; ! - 1 exhibited the .means ta- i 1 i h ! ; ' " ! ' - . i ctirfeuer, let us pass huafVw Kllw wertfinjoperat tikeri to coitiper the lion of dollars conW soqn lie Adyantagjiisf Bankl havfeTthe RaailrehnsinVr t ' ,! iXdoMht.. this: Doint. there Iran erii n.it rnn tiht. H B;fore.the Bank cm be Icreated, suuscnneu Zinri Lead and ,Ttn Oies, wliipli, are said to pxi9ttin.thisre?ion, anri lhe demand, is trast- ;,r . 1 iv IT lUCICMCu.' ii.oa:aiii uuuimru ni tit . .rt ..! n. n iKi. arMfarn n-.rt nf th KtutO 9m fl : : ' .i T W f l I - - eiieiinitPf I Wtr wa . m U PhnA. ..fl fthnnn-ant as anr abroad, and w th n the i 'T'" T -l" T -T Vr.r n rrr u- , - . - ' j . :r " ! to be SAL1SI3URY, I -i; , ii.ll i 3 cts l i 16a 17 eta. ; D randy, Ap- Cotton baling per yd. 1G 25 lu a la cts; Uastinofs per t-.tr. iTntinn varn. Jrrun Io. b to lo .1 !! i t fxi'i I ni l u'it mrc 'nor IS'i J !i !ii -7. A 17 !...- r . . KnoK 1 1 St i im ! last! !' pion of other va?t fmirie'ofWealth' wfitiiin youjrfeach.' The! hem 0 rahed m your fnoun tain districts, and near tHe rinte of this Koad, is sVtd td be eqtjal tb any' in the world. The counf 1 les1 ofj Bi i ri coVi'ibei Bu r k e, ' fed ell , Lincoln, Mecklenburg and those upim the Yadkin, possess soil ecbliarly tdlpted' to its cuP i.. r . . 1 " frill rw . A . " v " ; . - - - . i : i Titrii trm no ' rDrn r rmn 1 1 rpn ii.iq inn afi. passes money nom nana to nana, mat the , """fr . "";"";' f . publie-oeoMmV interested ' in- tbeirr iIohm j j vantage of manufietunng Cotton bm? TherU i3 then a danger that the unwaty mav ' U,V antJ hetfer'than thatUmported from betan in, if the company issues mire of ' EurMm : ' Tins,' MX 1 oru, wjll ensure it a thestiWs lhan they are able to pay Xand a i 'narket hecausa the bag jf cotton being contiUuent danger maylso arise, that by i oUlhS w',-fhl- add.t.tmal we.ht of the inducing the people to take their iJNotes " , " " ". :""" -'". w.B... wheq Ihey have no actual need of moner, ' the cj-iupaiiy. may, as, the merchants bull it, j ir..nlr . i,,i ! 1 .c ' I . reach; of tran?poftat oni Wt at ..once .is a .,-fTf" "i i-Wn- Y - 1 f. u sourcW both oMemind tJinl and iri: ' ffi S '"- conivabie wealth to yodr counlry-and P' fire yrH'f tbis;fl Rd Willi Wiethe very rei SMr:?;r:,l!',: iti location mi there is still an- i T T IT wMf' .VJF4. iorcet business 4t is requisite that care shoulki he taken to guard against these evils, and it will presently be seen in the case bo fore Ms, that the precautions are amply suf- ncifcnt.S ' Bui inasmuch as this Bank Charier ja4'p'busM-20 ct!; Corn pr bush 40 ctsj tj 's ; c; Ptr ,b S a 10 cts ; 1 1 r 1 1 i m- j: ; v..;i . .- ik o -l i a . 3-..-Tr,r Ifl II a U CIS i liri IU 1 '-"-.? Mi n i,i L. . . -A Ik I ! t malrmrr nf lh Riil KiviH it Airlliur mi Ji 15 H i? I !!! ifOa i 10 liu per .11 ! C JMeel, Aineri- ltniTtili -tn nor ll lb -23 a 30 cts ; bugar 15usj tiuiu (Jannaicay per gaij 6eiido.il -i vy,K,l (clejn; per lb 30 7- i. ... .-ii ..-.'!'..... i:.. . j w per io, i''-1 -f 2 eit, Anr-nucii pi u. AVine ( 1 entitle; per gai. 91 du. f l 50 a 1 7 ct Claret do 13 1 I 7a cts; Malaga, sweet; Whiskey jpeifgai.' 35 a 40 cts. us pro- posedp (nerely as a meansand inducjement e inereaseq beyond 3 fnilljons, until an a mount.-equivalent to anv contemplated increase shall ' have' befcn first called in and expended on this Uaa'L li cannot jcvcu Mien ie uicreaseu iDeyoni o millions until the Road reaches Tennessee ; nor be yonmy minions until Kentuekv i nor can it sfectory tothelT the Cwverrtlon at Knox w.oe ueirmnoea opon ibe mate throbrh joir Suteand Soath Carotins, acting in ?g(S faith, now offers to redeem their pledge. If yon rWt that vffet, she has no alfernatiTe left, and the Road through your Staie is lost forever. It is a questum orsome doubt; whether in any event, the Georgia route to Memphis would not hav bren more adTanUgous to South' Carolina; At ail events, the energy, with whlcb Gwnria is puriog oer Kail Koadsand the large suljscrip- I inn cKa lia .., . J . .1 f . . 1 each read the third tioe, art. ended, passed J " - - - ' ua orneren to ne engrossed. s 1 t i?if reccerf-The tillft establish 5 county by the name oLCIeveland, out of parts of Lincoln and Rutherford, 26 to 17; the bill to throrporate the ., Roanoke Vallcj, ! Rail Road Company, t V'-'V- iv. -f ;J? t' v Air Mmehead presented the following,'; bills, which -were read tbire times and or-sui dered to be engrossed: A bill to alter tdo . ion sne nas itist made to them, indieaf ihat she would zeabjusr hsV.nnSi'll k- ,r .. - 1 Iimos nf fi(d.inr Hi rfM'i C.t.ltm llh S-mth Caruhha. UnA thm nfTr fivn .! ,.4 ' well.A.- ilm Kill i .!. ik .M L,r- w' 1 j. - i . . v " v- " in 1 iu mibt iiic ii.ng U uJitMIUtf the Superior CourUfor the counties of StoAet and Guilfoid. j! - 1 : lr 1 at lor Dresenierf a Rkliiiim m. ' - v- .ier-winch is now ma da to yon.' The claim np on yuu therefore unites iyoor mtereits with tur sua acquires ine insl eenou important lfyu refuse t' ackrv.wlc.frT" i', T-u 'abai.' :ti he kmg ,t the duty of the Principal Clerks ot frrrei your alliahi. They Hill jWtt m teen. , ,Ue ,w "lM,s s ",fterto appoint the En- -! . . i " 1 - m . ' p. w .- . r f "l . I. T l a ru " I'iiTing aeciined the advaores uf G,rui& l v,iciks 01 ine legislature; wtucfe 1 :ii 1 . - . . - . '' -i-na isiruy the irn lence .jflh.iv why pr the 1 Road reaches reach 12 millions CIIERAW. tnnrket per lbi i 7 ct.; Bacon per ct; lUms do. 00 00 cts ; Beeswax a HQ cts-; Bagging per yard IS a ilb rope per lb ai 124 14 ns ; Coffee pr. 5 cts; C Kton mi 100 I!wl3 15 '25 ? m:f dorb prt bushel 50 a 90 :is j Flour inVper brl $3 IP, from stores per brl. 00 Iron pet loo lbs a 00 a b 50 j him ter gal 0 a 621 ts; Nai scut assort- 12 a 9 cts ; j N rought dy. per lb. 20 IM pel br! 8 9 ' Itice por 100 lt 4 Mi-Knnr nor lr I -J I -Fl a I J fiQ Salt nr i fy, !alt Pr busbel $1 ct;Steel A pi&pbhalei pr lb 10us Tallow pr lb 10 a ??4WP7'a mwnst nr IK 1 1t a 1 374 ets: j " I r -i r r r . 7 jH Pf $1 a 1 25 cts ; 1 obaccu manu i mni a i n tit, i iFAYETTjkviLLE pfa'-h Oa 75. Do. App!, 60 a 65 3 16 a417; Gttoh prlb 12i a 15 i ts oU a J4 :rlU.uf blil i $$1 - "a 94 r&hSl 50 a I G(): l'VjUiersirlb45 a ffljlf otf$ii. 80 a 9.5 1 IrU pr lb 5 a 6; Mo- Ha.,43 a 47; I airs cut 7i a 8 ;Salt a Suar tir 1$ 8 - a 12 i ; Tobacco; ; NVl-eat pr biisl, $i 50; 0 Whiskey pi .j oeeswax -1 a 00 ! K Bhad i i 3l rwi ved per 'f the abov Guff otto Seel siemer Clarendon, a Cotton Seed, and for C.J.OURELL Brick Juildins, I lay Street Colt Oil tori a4t "j: i 1 !. 6: Mr ft, trrl .'r Z8 tPlunters. PE,itrtHuni.(u i.f ihisf Seed into general fr lf.liii!t llllHnnkl Jjl t ha ,.f ,Tr.,..t k f; i khih.in imprivihff-tbe Stnnle. and f-Hciiunlbf fur Cotton. P'fit faelf b inn c(i more -luxuriant than 7 ""wiian tfrflen SeJ. humh mura i.r-.lifir. ..f :8 - IMVH' l'lll Ul Nhhirts. itself r. . "i nanu lliat cokild mrk 75 lb ..f t tf'fr.J P'k 100 lis. of the other (per .'i-'r is soui-erior, mat ;nose lanni- 'Fa .4 jlWe that With llieir fve-s IHy distinguish ii frufQ i he common J mptive forolJerfrig this Seed to the r Hie express ipiirpose of improving i"IOlr Cotton at Ham, unit rhnrnrler , which j has beip reduced to a very J J'tstly so tmiL bv the verv inferior !!. .Jll . ! .-ft'.. .. i"4iiv siiqiped trorii this State, . I SO J. ORRELL hJi i r-T : Bl 1,1 1. t . r . r t. nun. remain a in iiib fosi 1 1 r..-j.. - !. : ' -. . .. rl ; r"""! vaourrus county i, o !.1IU 'M-ck yeldei oitFred Wat her. Ru WfTP'0' fb"h". James J Craton LsHt nier2.Wil 4w!cub. J C Clark' an Uownud. ! "" d Sun. j . h GiliiMie. Jams P. finv. btconits us to provide that, while on the one bf iid, sufficient advantages must Ibe of fored o. induce individuals to make the Foa t;s4, on the other, precautious miast be taken compel them, while enjoying the profitsjojf the Bank, to take the burthen of completing the Road. This equipoise, it is thought jhas been fully attained by tlte pro vision yf. the present Charter, as will yp-r pear by d brief consideration of them!. 1.. .iltc .i t i . i J in me iirai piace tne nans can - nave no separate Existence, and an interest in!it eaiV only lq obtained by first subscribing to the. Rail RoaiJ. Eight millions must be actual ly subscribed to theJlail Road, before the Bank can ibe called into existence; and' then, each subswrriber to the Rail Boad cart only have fifty ;dollars in the Bank for every hun dred lid has subscribed to the Rit t?naH riir3xrauMa-rpiius are then made insepar ably doj tt)at a stockholder cannot sell one withoutl the 'Other. And although his Rail Roid Sock is made liable to pay tiie debts of the Bank, he has not the corresqionding advantage of making the Bank lidblo for the Rai Road debts. Weither is hei per muted Ht a;ny tune to withdraw from the Hull Road Company, even .by forfeiting whf hoj his paid them, hut he must also foi fell bus Bank Stock. iJis interest n the Bank cannot be increased until tho Road passes ejitij-ely through North Carolina, ;oil f ithiir five years, three millions worth of expenditure he not mado on the Road; or. if withib ten years, 12 millions worth be not expanded, or the Rood fioishetl to! Ken tucky oijOhio; or if Hie work at any) time be suspended a uhole year, the Bank loses its churtr.f The capital wjr which -the Bink m.iy commence, is to ne about a mil lion, to be increased'as the Ko.id advances, and it cannot be expen ted beyond six fiiii- lions until the Road successively rehches IVnotsc nd Kentucky Under'these provisions it would serjm to me not-to be a question, whether sutficient il4.;iu v 'i-tr,:i. 1A.'1 w- -v n it lii i llu neyrutt.l Jsne L Harris. E as this'advantage wonld seeip, it would give you tlije whole domestic m;irket. and when you consider: that the consumption of the South mounts to about two millions of yards, you vv (it at once see another source of in creasing demand for capit'.l.j But suppose that the erierg'cs of your couutrmen are once proper) y directed to t the water power, so advantageojisly located ! " a lit t."'.i . t in neaijnv and lertiie regions tnrougiiotii , your SUt; and then I a ski whether too much capital could, bo ofT-re them. There is no loason. other than the w-aril of resour ces and;.outlcts, why another lJrwell may not be erected on the Banks of khe Catawba. Here the advantages presented by nature are superior to those existing n Massachu setts and yet there.'. the) hav built a town and have set up mantifactiirie, whose united-capitals already exceed tep millions of dollars. LSurt ly it cannot be ctjotended that, J in a country from whence theyhjve to send to your snores tor your cotton ana aiier woi king1 ii into fabrics, return tt to you for consumption, la'len with the jexpenses of these various transportations; that in such a country,! they have advantages over you, who, vith one hand, can plunkl the cotton from yotir fields, and with ! i.r. nn jol rr u u lUG Consumcrsnroond jyoii, l obvious tfi.it with the smallest exertion on your pirt,in the most ordinary state of things which thie roads wsll produce there will be a deniand far exceeding the power even of this Rank to supply. j 2 Let! us then con . ider whether, under the charli r proposed, sufiicient ipiecautious are taken for the solvency of the Bank and the payment of its notes ! What, are its means tf navmpnl? First. its capitaj must bo paid in Specie or its e quivaient.into the vaults of the; B inks ol those St.i.s where Siibscitpiiou are taken and this capital furnishes its primary means of pay ment Then su -li debts as may become due to it, with tbe rofiis and other assets which it may req uK. will br- Ksupersedejil. Thesaare all the! securities usually furbished by other Banks! Bot this j Bank ofl-is beyond all this, the liability of the wnoiej trail itoau capital, amounting to twelve imi'ions of doll irs, with ail the prop erty ol the company, and the pe rgonal cred it of its inidmiiual stockficdders, as far they are bound-under the charter. W'hen capi ta! of tbe B;u increases,. its noti-s are still further segued bv a Roil RohH v it li a until the Road is constructed to Lcxing ton I The Rail Road fund? are put inj charge ibf a separate Board of Directors, and the pay men t of their instalments by the subscri bers is speared by their being subject, in case of default, not only to forfeiture of what they have paid to thejRail Road, but also to the -Bankr Anf whpn it is observ ed, that in the commoncemenUtlie payments on each shre in the Bank will be tweim dollars in advance of the payments to the j Kail Uoad, this lorleiture .vjll be a serious cheek. Then there can be ilo sale of Bank Stoek, unless the pur?hasVit charges him self with corresponding Rail Road Share ; and thje two are inseparably united. With these precautions, it Will e impossible for the Bank to get along without making the Riad. j : I -l I Haying thus consideipd the vanning pro visions of tjie Charter, it is jhazarding lit tle now to affirm, that the public can suf fer nothing from this Bank, land that the advantages presented to Nortel Carolina by the Road,; jare cheaply purchased by-a grant oi tnei5:inKing privileges now! asked. Nay, I am prepared to j advance one step "iiwc-rnrainesiin me cause ol internal Im provement ha ju it ttea: p' .ve l.fiir N .rth Car ohna, who will by yon refusal, have evinced an apathy the most repelling. A revulsion of pob Uc teehng will be ibe result ; all hope of union with you will be abandoned forever, and the golden tide of commerce will be turned from your shores to leave them yet more waste and deso late. ' ' , I bave thus, Mr. Speaker, canvassei all the views which have ocnuned to me, touching the subject of jour'delibefations. I have disrhaigeu my duty. It is now for you to act. Let no man mistake the positions in which he stands vote ol this Senate further, and will alTocd a knownj to al assert, thatjthe? IJharter itself gain to Nohh Carolina. It is . t r- ! d tnopenaiors irorn tne western 0' rtiorj of the State, that the present circu lation along jthe route i of! this Road, is South Carolina and Georgia Bank SNotes The emiruni f lr4 tuyft -etprinr.oo . tho onr- f rWy 44od the natural channel of this I . : i! j c, .1 . r is to tne oifin soutiiern' paper must lorev er con Uhio4jd Afford thej cheif circnluting medium. Ioriis reason, ydu have here tofore been liable to put your State Bank Notes' jin circulation in this quarter ; and the contest vill therefore he between the Bank now proposed to he i ji.trtered, auJ the liciero;eiiious and unknown mii!iitole which how fupply the ilemaiid. I it not obvious that a Bank driving y (.hnrter in Several5 States, and whse Nates are as sound as theso will he, must kupplanl all others, and furnish a prcferrctl currelncy to the people rA!id how v.ist wil he the gain to your State, in thus exehangiig unknown and douhifulmapcr over which von can have no control, for the Notes! of an Insti- r own Stale, subject to your ow'h supervision, and based . . ; ; I . . I n v i . precautions are laKen against ine Dang, out j . f. . . i , . - . . .... . . . 5 - .. . " T --! iimi le tr r t no ont ire evtent I mm t .hm s- rlff !-Warg(irfih,Uaggat-' lon4 lia'ilvr., Jeramuh Elawey 1 .1 $ D L.ndirJ.d iSi ill- Li,).. I . I .i rl-,..J . Lambert. illiaca S AJc- vhether,iwijlh all these restrictions, individ uals can be induced to take the Slock. I trust that ! tHe anticipations of those! who foimed tpej charter may be realized-jthat the Stock may be subscribed arid the work prvgress. Be that as it may, the question for vour present determination is, whether the charter sdchras iMs, sulficienlly guards a- gainst th inflictions ol public evil, arid en surcs theimaking the . road. Or, in othe words, wjietber for the' sake of the road and ; its advantages, th:s Slate will charter the Bank. '. Satisfactorily to , decide thi matter, it seems to jmef that three considerations re main to be settled. , ,j? ( 'I ' i 1 . " Will tpe capital to be created hi this Bank, belprobably absorbed by the actual wants of ithd States in which it asks a char ter? ' j j . . - 2. Arel sufficient precautions taken to sectire th piiblic from loss upon its notes? 3. Is tfee dxistence of the Bank made de indent 4poh the construction of the Road and are toe public sutficien!ly assured that the Banklcailnot abandon the Roaufand cx- ii w.thoijt tt ? j f The l4t. p:nt appears to roe to be Settled by a merd sltemeoi of facts- At present the tiadftinver the route, of thts- rbad into Sonhv Carolina and Georgia amounts' to three milFtonsof dollars. ' The whdie'ctr- The must now decide whether your State shall advance or recede. Upon eve ry Senator there is an immense responsibility If by his vote ibU work shall fail, what a r?ek oniog will be demanded at bis band? If ih'rough bis tunidiiy or mdiffrtrence the people of vuiir State shall be deprived of ihe benfils which this Road offers, how great will be his comdem naiioii Destroy Ihis project, and what hope is there from any other ? Upon this tbe energies of the South have been concentrated Publico pinion has been direeied toil from every quar ier ; and if it now tail, it will be futile to propose another. With it.hdls prostrate allent. rpiise, & Internal Improvements will fr us be mere vis ion of a dream. And when the time sh. 11 arrive, if it ever sball.for being aroused from this dream, we shall then awake to the discovery that on the tide of emigration has ebbed away the life blood of the State to moisten aud fertilize tbe soil of our neighbors. Then perhaps we will content ourselves to sit down in despair, until a common misery and supineness shall inuie us to our condition. upon the firmest vecurir. But there is still another im efit which this bank will confer upon your portant beu- people. At present the, trade Carolina as said millions of dollars. a mere barter, the articles boIiI into Suith before reaches , three As ! this trade is not must of Mr. Speaker, I read, in the expression of your countenance, that this shall not be. I see, yuu are ready to seize upon the moment, and advance to the strug2le. Come then, let us, wiih uuitedi stretigth. press forward lei us imitate the gen erous emulation of our fathers, and the prize is ours-Mbe noble prize of having established the happiness and prosperity of our country. Sir, we have all read in the schools, that in former days there was a people, at whose hands an e roergeney require! a public wdrk to connect their cily with the eea. With instant alacrity, the rwhole popula4pa rushed forih women, child, and man. ThereVihey made no count of con se queuces ih rich cast irjto the public treasury bi!. "ld, the poor his mile it was enough lhai -i heir country asked and it was done glorious ly.jiobly done. Sir. that ci.iy and thai people have ever since stood loremosi in ihe annalsof nations. Those wore days in which one might live ;md proudly claim ihe name of man. These are ihe men who have stamped upon ttrisbls tory characters so glorious and unfading, thai e- vea now, by their example, we and our ehildren are laugh I the infancy ihe great JeS-ohs ot pub I i tr virtue. Sir, lei us n it now forget these lessons ; let us devote every power to the improvement of our country ; and Jet oj, without hesttaiioo, in stantly a'!vauee to Stay ihe wounds under which j f-tiK is now bleeding. Then, at least, if our ef j fort prove unavailing If eyery remedy in our ' po?er be applied in vain if ibe final ill must come, and our country must succumb we shall have done our utmost to avoid it ; ne shall have disi'li-fted our duly, and we shall t all events, be allowed the inelaQehdly sal is fiction of de claring, this is no work of mine "thou canst noi say I did it. on his motion, wis laid on tbe table. HOUSE OF COMMONS. On motion of Mr Graham. Resolved, That the committee on Inter nal Improvements be instructed to enquire whether the Cape -Fear Navigation have rightfully retained the sum of 1375 53-100 from the Slat. V dividends on her stk in said Company, a.td if not, that they report what steps are to bo taken lori itT recov ery. The bill to incorporate the Raleigh and Columbia Rail Road Company was read the second time. '. Mr1 Hill opjiosed it at some length, andMlr Grahvn and Ir Mc- Clenahan a.lvorate l nspa igH Mr llol lings worth moved to am.-nl the hill so as to force the company to go by FHyelteville, which was negatived, and then the bill pass ed its fternnrf reading ' The bill to grant Banking ' privileges to the Charleston and Cincinnati Rail Road Coiopiny, was t iken up at its third reading. Mr L A G . mi opposed the bill in a short speech, ith much earnestueBS and anima tion. He was replied to by Mr Moore of Halifax, who went at lare into the merits of the wlude suhjvet. The q-iostiorTbetiig put on the passage of the bill, Mr Gnn moved that it lie on the table until the 3d Monday of November. 1838 ; wIi.ch was Mr. the derided in the negative, 55 to 49 Gwyn then moved an amendment to p4Uerso. Charles Philips, John FctLr! ?wd' Jhn Rlodjers Esq. Eliza r "uiei At ..- .V . . j cmnn iiov. Sole man Sni- i il:.n. .-j -TJ U Tally " uie. i G. K - I 7.-1 I 7. ' TTZt .fJTTS, P,M. THIS OFFCE cul :tion qf this region is that of Southern t. 1 I. ,fZ ' - - . ' -".'- Banks, and ii the uanks now contempiatea werft meiielyT to supplant this circulation; (which it would certainly do) a demand would at once 'be "established beyond its power of knp'pty The Capital of thej Bank will, at it!s! comencBtnet, probablytnbt ex ceed a mijlibn ?of do! Tars, 'and -thi cannot be increased' bey 6hd: iwo liallions oi there abouts, until Ibe road ttielf has' made con siderable ad vjince.' Whbever is ac'iVinted with the fflibjfct will1 perceive, th it this cap ital can' be fabsorbed in South Carolina a ton to tiieTettnessep, Kentucky pnd Ohio line successively; together with all the real Estate, Depositories, Engines and materials appertaining thereto. It may' safely be af firmed, that no Bank in the United Stales can 'fT i equal security. ! But its jsotvency is still furtlicr secured by the precautions taken to prevent over- . 'banking, j Its issues are limited oue-iliiril other i . . ., i . . i i j i . oeiow loose anoweu otner uauivs. ii is denied the privilege of lending, either upon j its own orj the rail road stock, tnjlil tftree- j fourths of the capital is actually 1 paid in, ! and then it can only lend to the jex'erit of one-half. Ji cannot permit the ltulRoa"U compatiy to overdraw and if at Sany time it delays jinying its own notes in specie, ii is liable ti the exhorhitant interest of 12 per cent, j .To frustrate any . speculating schemes pp the part ofnhe-ofiicei-s of the Bank, they are forbidden from soling as Brokers, aid the Diicctors can receive no compensation for transacting business for others wrtji the Bank. j But thee is yet another provision which is particularly important, inasmuch as it not only operates as a restraint, )ut con sults thedigHiiy of each !qf the States gran ting; the Qhartef. The Act req; ires re ports lo bej made annually to!the respective Legislature, not only of the conjdition of the Parent Bank, but of all the Branches. This give$j a supervisory powerjto each IjegislaUire; ;rand by requiring a Bntnch to beiiiachJState, the laws of each can be madeffectijally to operate upon tlie whole coTporatfoni Without a Branch, it would be diffidultjfbrany of the Slates to; act up on the Institution ; but vvith that provision not only process can be served, bill can in due cours be enforced " by the j Courts. J Another salutary effect results from the es- .ti:..i k Lt . I. u ..:.: o.-.- MUllSlllUCIIj. Ul a Uldllkll WIMIU . -IIO A place is jihereby i provided within your reach, at Which the Notes may be redeem ed ; and in -case-they are received at the (' i . - ' -. f I - course be .paid for in some kindj of paper. At present, there being no circulating me ditim sufficient fur the .purpose jibe greater part is taken tn bills of exehaue of something near 1 per cent be of interest for al least thirty d pose North Car lina to furnish this traoe ; the annual ejxj.ci'se tier cinz -as ; merely would (exceed Ten at a cost - utiles a loss iys. Sup- bue tfiird of then upon lor this exclianoe. Tliousatirl Dhllars. STAT 15 I.EGl-SLATUUE. opera- asked at and endu vou have r State for their Icapi- This tax will almost entirely bp saved I y this Bank, because its currency will an swer al) the! purposes ofj cxehabge ifi the different sections ' of thj. foutd, and will thus facilitate' in every respect the lions of trade. Gnd what at list is the boon ypur hands for bent fits iso vast ring ? It isjto grant that whicl given to ihe other Banks; in yot a tax of one fourth per cent oil til without deriving from them any public i ..:. ' ; ... l L-. .: i . : ! . . i. i. . untiii or any oiner coipn iuuiiou 10 we ioi provement of ihe States Compare this pit las.ee with even the cepain adylntage of fejred by ; the, Bi.uk now proposed. Here you have an outlay ofthi.ee millions among your citizensi-a road fastened ti the soil, which is itself a source of wealth, and up on which yU ;have reserved tin j rigljt to levy taxes-The increasetl vajue of proper ty which itj will certainly pr duce-pthe villages to which it will las certainly give birth the saving to your citizens in fur nishing theiir exchanges- the substituting a sound and stable currency for bne that is doubtful,; and unknown beside all the other advantages upon which 1 have alrea dy so fully descanted. Can ypu refuse this boon I Will youj reject till brighesl hope of Internal Improvement which has ever beamed upon you- State ? j, A refusal at this time on y oar part, Mr. Spea ker, would be particularlv unforiuuate. It.cau not bare escaped your uservatiou, that ooth Carolina has a choice of two routes o the co.nJ -, .... h meieeot the y et - the one through jour iaie tbe other through ueorgia. r or rtasoos -sat- btll, providing that if any stage ot the char ter, the subscription should be greater than is authorized, the subscriptions uf non-residents ol those States which' have, or may hereafter sanction the charter shall' be stricken off before any reduction shall , bo made in the subscription of the citizens of ' those States whose sanction is i qnn ! by the charter. Agreedlo, Yeas 33 Nay 1 Mr Cox .7 Mr. Gwyn movetl W amend the hill, by adding the foHowlngsectfon : Be it further enacted, that no Bank cor poration shall subscribe or hold shares in this Bank,' either directly or indirectly,' The amendment was adopted. Yeas G5, Nays 39. Mr. Irion moved to amend the bill by adding a provision to compel the Bank to redeem its noles with gold an! silver, of the coin of the United' Slates. Mr Gra ham opposed ihejameiidmenl.on the ground that the charter wa? sufEciemly guarded in this respect. The amendment was nega tived 61 to 40. Mr. Gwyn moved a further amendment, giving to any succeeding Legislature full power and authority to alter, amend or re peal ihe charter Mr. Moore opposed the amendment, on the ground that it smacked too Strongly of the Dallas doctrines. The -amendment was negatived 03 to 41. Mr. Irion moved further to amend the hill by; adding a provision that the Legis lature of this Stale shall have full power to repeal this charter, at any lime before the States of Tennessee and Kentucky have given their sanction to this eharter, Mr.. Graham oppose d ihe amendment, ajad show ed that ihe charter now expressly provi ded, thai it should be forfeited, unless as sented to by thoseStates. The amend ment was negatived. Yeas 01, Navs 40. The question now recurring on the pas sage ol ihe bill, its third reading, Mr L A fcL.N ATE. Monday, Jan. 10. The following engrossed bill and reso lution were read three titie$, passed and or deied to Jo be enrolled:' To incorporate the town cfRolcsvilh ; In favor of Wm. Tbornp- : r rc,narked that, belicviitAv the pas- ' sigeof this hill, that the sceptre was about The Senate proceeded to consider Mr. ; to depart from North Carolina, he demand Edwards' bill to provide for the investment 1 ed the Y'eas and Nays n the question of i.i ! -: r. i ' i ' ; . and tne saie Keeping oi ine surplus revenue us pasnae. accruing to North Carolina; when.Mr. J. W. Bryan moved a substitute, embracing ! elated by the gentleman . ... "-"i the tii'O-jilhs prinnple which was nega Mr. Crawford said, if it were tree, as de from Caswell, tived 24 to 23. Mr Margrave moved that the Mil he on the table. Negatived 30 to to 17. The question then reclining on the passage of the bill its 3.dreading.it was decided in the affirmative 20 to 22, and the bill was ordered to be engrossed. Jlyps Messrs Arrington, Baker, Bir. neti, Bryan tf Craven, Bunting, Cowper ef Gates and Chowan, Cooper of Martm.Dob son, Edwards, Emim, Fox, Hawkins, Houl der, llussey, Joy iter, Kerr, Marsteller, Me bme, Mo dy. M'seley, Moy, Morehead. Beinhaidt, Saunders, Skinner. Spruill 20. Xoe$ Messrs. Albright, Bryan of Car teret and Jones. Burney. Carson, Davidson, Dockery, Gudger.' Hall, Hargrave, Jones. Kelly. Melchor, Monre. McCortnick, My ers, Polk. -Herd, Reding, Taylor, Williams, Whitaker 21. Mr Dobson presented a Resolution, an thonging the Board of Internal Improve ments to cause Surveys, &c. to be made by competent Engineers, of a Rail Road from f rjon, E Jort'an Jndkins, Kenan, Kcnnyon, Fayetteville to the 1 dkin River; whirh ; y Lane, W A Lea, J. F Le, 3Iachn, was referred to tbe committee on Internal Maulubv. Move, McNeil. A Perkin, that the scepire had dep iried, be trusted that "Shilol hi 1 come " The vote was then laken, and stood as follows : For the pawagt oj the IiHl Messrs. Adams, Be.iford. Bromine!. Byrd, ('amp hell, Calloway, Cansler, Clayton, Clement, Covington, fox, Crawford, Critz, Erwin, Farrow. Fit m n?, G At s. G ady, Graham, qranb erry, J W Guinn, Guthrie, W S Harris, V Harn, Hill. Hoke, ILdland, Horu-B. Jefferson, N J Kmu, J AKing, W B Lane, Udsay, Ludermiik. I Mat--lhew,C II Matthews, E V Miller. W J T Miller, Moore, MrAlisier, McClannahan. McRae, Nye, Paiton, J A Perkins Pmrk ston Itdier'tf, Salterthaite, Simpson, Suiilb, Swif., Ttiomas, Ward 53 Sgulnst Iht passage of the BULMes srs. Averitt, Blount," Chamber, f.mir, Cot ten. Daniel, Dunn, Fton, Fa is on, Gary, r Gee, George Gillepe,GiIlianr,L Gwyn, Ilartly, Hawkins, Henry, Hollingsworth, Hooker, Howard, Hwerton, Hutchison, , I rrl , : ' ' Improvements Pritchard, Rand, Roebuck, Sloan, Small wood Spiers. Stalluigs, Suckard, Tomlin- Tbe bill orovldinff for an increase of the i capital stock of tbe Bank of the State Uon, Tutoo, Waton. It Whitley, K Whit C.Tnfi(r. ffinn nnn r ihirh to betaken rle. Williamson au. jpw-w . . I a by tbe State, 200,000 by, individuals, and the bill providing for the like inciease of the capital of the Bank of Cape Fear, were So the bill passed its third reading, and was sent to the Senate, asking its concur rence in the amendments. 5 ; " - : i f - j -i i " t "" ! . j " - . " ! ' - . !-'-. 7 i . ! - - 1 Lv ' , 1 ! - - ! , ! i . ; ''-. , 7" ..;.: v -7 . j ... . v . , ; - -. - : . j j j " ; j . . ' , . ... . .,. j;..v . j:. .
Carolina Watchman (Salisbury, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 4, 1837, edition 1
2
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