Newspapers / The Weekly Raleigh Register … / Jan. 5, 1836, edition 1 / Page 1
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II? 2.1 ;v - ... ! .-. . , . . ; . . - m u, w Hi-,-.' T Si W '7 . 4 jy-i r i ---i . mwmW 1 I K ' I 9 I U,7 mmmW i mm mmw ' maamm II II f I lr VB. ' ' H 1. i mm n Jr S I ft I :..,- r, 1 "XlVf ':'--, " I t r IB! - ( I 1KB K ...MM IB. -b X. . c I V, " t : TTll r-" ' 'v',IJ'.4!?-. '-" YiV PMMM j ' ' . j ' ' ' . ' -. - I f '. J . 1 j t'Tit 'j -V v t-- 1 !. f nuTiiaf n'rrtir TCtD 3 ; 5 Vri Tlnrr iTi net annum onfl IV lir in advance -' feTtese who do nQt either M myubsfHbing ubsequently gire noUcftjof mwishtahave w me;eipirauon ot tne ; yiar wilf be.preaumetl astlesiring .i pbntinua uance j?t xceeding xernj1nilt bell sirtfed Arre .. jftinV for Ja. Dollar; and twi)nU' jr9i each 'MhseehtTttty rnnortiom If the numbeH)f , iiKcrlions be not j Hr'JeTeilut, andcharffed aecbiny! ' 3! The bill to provide for te the instatments on the Stql' Vry the State in thevBink jdF i I taken upland read the secopMuW. (The t ; -Din nrOTiues inawnic oiam, nuui i uw i'lipreasurshallbsum I jtlM amount of 1 ; dollars,; to tjear in- terestat the rate of not more, tbn 5 per Jentif nob red lem able until !j ; ; and thatlthe&tockiof the -State 'shdl stand .pledged for the payment of the 4ebt.j I ; -Mr; WicWsaidrt had belome his flutjri astne organ oi tne cummia.ee, io support the i measure, wliich, they ad re com mended. Hi ere appeared- to be va- f mr&us opinions on the subjecls involved in i ' tUi'lUrhsiinn. SnitiR were in - favor of ; jiving m iueijiiivcrsiij mo ouiijjc ui i .taking stok reserved to thermenpthe I fall extent of its means ; herffk'op .poseJo its vornl the i State's brfoingf thfe money of the.Onfversityand lakinff 'thestQCK herself, and others ware opposed ,tl that measure. ..He thought we r should make iiqr .University a first rate Iftstitji tUAiaflji educate our sons, and to induceiut :ei Linos e from abroad to send .their chtldrenitp it. Sound policy dictated such a course, and ,the constitution made ibbljgatory5Bat it did ilot annear tbthim to be neceisar?V 0 to surrender it tliestoclcreexvetlfai: ,5-r w, ' V l4 ,Ullf, IIMU M 1 V JMr 4( J; surrender the ibtate would lose the. pow jer to control the Baiikv 'After an ekbe. raCdistuslslba' irf 0ier LeslaturejfJQV several successive sessions, the pi'tiGi- f atate should have a controlling ipntii jin met meetings oi stocknoiuers, anu juividuals in the board of directors. w ;jtne; university oe now permitted to ttKe V 11500 of the; shires reservedlb the State. If trill in0ftfrrAvl ni rl cyrfitl mr wton 41b i nflaenceTof the State : and these sh:!is wodlS60Tave ihelvigilance of 'pHte mierejsiiwipTomptueniipn w ine tit Momrfpit In niiv thft rpniiisitp a.ttentiowtft me anairs ui uib uaim. v uc wuum nui )bjecttoian Varrangement by which tile jniyersiiy migni uaye ine prupcri. iif? Tianf shares as Its means 'would eriat fit lib pay for - and tb receive all tfM wIk ins arising ir;pm mem, provjueuiiuc oijfic retaneif the right to represent the hai in the-cenerai meetings and U)P dirj wry. '-.; x.-. . 1 5 Jiv.Mjqbeii9ad begged th&indulgenc e )f thPSenateibtla feiy minut.es, and pro : ee u e uf i o,; m ajt e , ui e i u m u w i i i g c i ii a i s ?i rcgreiraianpfT mceouie wiuvjti n mnu iry us; tp ascertaintru th j and $rw e'yer is calcuJated to iverttheq toinfjrpnits;dh 5 ngen e r bus; iafargu nieii t; Tliereji pe fen mucn saia apouc me nomiuj, mt? vi ivu and the poorlThese !;rele to th,eH vulRalrreiudicesbf itnenfiot to ;vef nappujr iye quality, and issuing ho letters patent; f nbbilityandiFit rbetstinc1ibwHtb 5rt therasb iof almost evlerv rudea taierffor jiia son. I know no test huiif- ons upon, apptication I 'totvMMi whether the applicants' father is bibbed 2Mt:ca,l,I or wnetner lie is uauyjawrr ng in his: farm, forv the eiluMtforiSarid Hgytuiyii viauiamiiy; and -jivnenv-J!w lyteihe only distinction then made! is klVlW eyery'Benktor will, inljuR ipWimselfWd' toft life ..U.v:t.n lith ;MbaUed-to vote, uriflprat.iiit WliCkik fcalled upon tv rift i4.r -'i,1 jiffttttf aTe.heard thre-Tn stPM nf l, tTiiTve ltjccennreas:weiiaviW.itA 4iared, largely the narn, jFi.i d'J t B'e St !i t A . A.; f it. Li L I 111 III.: JH 1t (theL? tine sice A in-If 11 W" - A: war:R;tru8teea, consisting sota rJ batsiitV centremen; living in dift'eferit fppseof wcitinprejudlce; :iro.2 :l - - , ' ' - " 1 -: . . . : - - . ' - . - ..nqr.mwVUtiiversiftett ucu.ence to, tbis Constitutional injunc ."on the Legislature,' in the year 1789, Js.seV an act incorporating v the present University ; in which they declare, that in all well regulated governments, i is the indispensable duty of every Legisla ture to consult the happiness" of the rising generation,- and -endeavor to fit them for an honoraUle discharge of the social du ties of life,' hj payirtg the strictest atten .datblilnd'by; way of .c'-f lng?f-nd i Ifplpb'rpose' of erec ting buiidinss; &cvnet(j out inducements. that six of the halls should be called .af ter the highest 'donors. At the same session, another act was passed, by which all the property that hatf previously, or should, thereafter escheat to the State, was, vested in the Trustees, &c. This gave to; the University the right to the uuiiiaijr warrants ana claims or tne sol diers of the revolution, who had died without heirs, so far as Nortlv Carolina was concerned. k It was the object of the State to paj her soldiers of the revolution in Western lands. .In the year 1789, North Carolina ceded to the United States that portion of her - Territory which now forms the State of Tennessse, and in her deed qf cession, expressly reserved, " that the lands laid off, by any act of the As sembly of this State", for the officers and soldiers of the continental line, shall en ure to the benefit of such officers, sol diers, their heirs, &c" Ati the time of the cession, many land. warrants had not been located and many of the soldiers of the revolution had died without having obtained warrants. The trustees of the University having thus succeeded to the rights of the officers and soldiers p,f the revolution, who had died without heirs, were at great trouble and expense in ferreting out their claims,': and asser ting their rights procuring proper evi dence of their titles. In 1796 the terri- .tory thus ceded, included in Tennessee, was admitted into the Union as a free and sovereign State, and was placed up on an equal tooting with her sister states. Tn 1804, a compact was entered into be tween this State and Tennessee, and sub sequently ratified by an act of Congress, by' which compact Tennessee was to per fect title on all . the bona JUle claims of North Carolina, chargeable upon the Ter ritory by the cession act of 1789. Some time alter this compact, a misunderstan ding took place between the Universitv and the! State of 1 ennessee. On the one hand it was contended that the Univer sity had claims, which were unsatisfied, predicated upon services rendered by ?t rial r ii m.T 1 y t l uie ooiaiers or live norm Carolina line who were said tb be? dead, and whose blood was extinct,' as was alledged, with out leaving any heir in the United States capable ot inheriting; on the other hand, it was- insisted that these -claims were not properly chargeable upon the Terri tory thus ceded, under a fair and pro per construction of the cession act of 1789. This difference of opinion was the subject of negotiation until about the year 183, 1 think, (I speak from memo ry) when the subject of controversy was settled ; in which the University had to yield more than 50,000 acres of the . land 'to whicft she set up claim by way ot pur chasing her peace. During the whole of this period, those western lands have been an unproductive fund j and havej cost great trouble and expense. Within a short period, (the present 'year,) the trustees have been enabled to make sale of a large portion of their land?, and have received the money for it, 'which they Ijave now pn hand. From this brief narrative, is there any thing which shews unfair dealing, any (thing like a monopoly ? or any thing nch snows excessive patronage on the part of the Legislature ?..- On the contra ry the history of the institution shows : th$ tact that it has, in a great degree, been kept up by the 'Unpeasing eSbrts, the, untiring zeal ot one individual. But Sir, the heart which fet for its success, has stilled its emotion, and the tongue that eloquently plead its cause, is hushed in death. And what, sir, is now asked ? Not thatK the Legislature will give a dol far, not that the citizens should be taxed accent for its support j but, on the con trVryithis .Institution returns to us, its parent, tells the history of its poverty &hd.; difficulty, and asks the poor boon that it may be permitted to take gl5Q,000 in'the sjtoc of the Bank of State, re served) by the State to herself, which stock the State cannot tike. without bor rowing' the moneyIs;it prudent, is it iustV is it patriotic, to turn tl)is child of the, oiaie irom its parent, anu compel it to .seek a place of inypStment for its lunua AMuuicr oiclLc s . nicic is buiiic- tbinKnatural in the idea Economy forbids the idea that this institution will, with the grasp of a miserr hoard ir its treasuefv; without profit, and i live upon the capital, unt.il it is" consumed. he inevitable consequence will be,; that un lessa place of investmehtis found at home thia'amount; of capital must be. driven At!-- Ctt.. 'a. e i . L a.. . ' tromiitiLaLc, ..u unu iiivcmneuu ciae vhere.-ror one. sir. 4Nregret to see one cept'Jeave the tatej when- all our pitizen with one vpice say sve haye" Ifttle.aiey;,. XS What, sir, are the objections set up to this investment by the Seinalors from Wilkes and Martin, (Messrs. Welborn and Coopej- ?) That they are for the en couragement of the Literary Fund, to suppo.rt pri'mary schools. I will not yield to either off these gentlemen in efforts to educate th poor, and instruct the sturdy yeomanry 0f the country. I would, as a citizen, bejwillingto bear direct taxation for that purpose $ but in our zeal for common sqhools, we should not forget that which jwe already have. The Lite rary Fund and University claim exis tence from ithe same common parent. TheLiteraVy Fund has already been per mitted to bake an investment to the amount ot W0,000, the utmost extent of her ability, and if she take more stock, she must dp it upon borrowed capital.- Here, thert, is one of these institutions permitted to take stock reserved to the State to the utmost extent of her ability, while the other is turned away. This, too, is unnatural. These institutions are hand-maids to each other. Primary sen aoi s canpot be taught without a compe lent ieacner preparen in nigner insiiiu tians ; nor can higher institutions be sup . A I ' . I ' J I . . ported without the preparatory steps of primary schools and academies. Nature, in all her works, has gradations : and so must the institutions of men .to be useful, I am surprised to hear these objections from the source from which they come.-- these gentlemen, from their age, stand in the community feels an. interest; it as connectirig links between the age which comes home to him ; and if the scheme is past and the present. They speak should fail, he feels the assurance, .Jthat knowipgjy of the difficulties in procur- the country will be benefitted by the'ex insr an education in their time we learn penditure of the money nay, morel he them from tradition. They have felt them, and would ask either of these cause by such means, other States have gentlemen, f, in their early days, astu- gone on increasing in wealth and pros dent wished" to procure a liberal educa- parity, and they have thus stayed the tion, if his parents were not " put to the trouble and expense of sending him to some ot the .Northern States r and if the 1 schools of the lowest order were not gen- erally taughtbvtvranical old Englishmen? I To remedy fthese evils, the friends of j per and legitimate object for the advance education have made, and are now ma-1 ment of which we should resort to the ex- king every effort to teach, within our selves, every branch of education, from the lowest to; the highest We want our children taught within ourselves, without the introduction of teachers from, the I North or elsewhere; we want every I child in theSHate taught at least a practi cal education. There, sir.i is another point of view in Which I place this case. The bill before the Senate proposes .tq negociate a loan, qn the part bf the State', to the amount oi 4uu,uuu dollars, tor the purpose ot enabling the State to take the reserved stock. If the nuestion wpre new. thp propriety of this measure might be ques. K - - ' ' 1 tioned, as every Legislature should re7l acic vo nsen me ngni oi ueciaring a forfeiture of every trust which it had ere ated ; and a btate is delicately situated when she is called upon to sit in judg ment upon her own partners in a fraud, and more especially when she has pock eted a sharcipf the spoils of the fraud. I, further, doubt that system of political economy, of borrowing money to loan money, as applicable to individuals or states. Hut there is a point connected with this subject, about "which none can doubt. It is the duty of the State to sun- ply the citizens thereof with a sufficient Qircuiaimg meuium. w it was thought mac ine agricultural ana com L i il - ij i i mercial interests of the State required a capital oi S53,uuu,UU0. tfrom an increas ed population, and of agricultural and commercial pursuits, that ampunt of ca- uuai i! now more necessarv man it was - A- 1 I .1 . then ; but do;we find the capital increas ed ? The two Banks intended to supply tne citizens ot the state with money, u nited, have a! capital of only 2,300,000 dollars ; of which sum there vet remains 8400,000 n tock to be taken, which leaves the actual amount in operation on- ly gl, 900,000; by far too small. Sup- pose the State should be unable to nego tiate a loan is proposed : the inevitable result is, that our own institutions have failed to supply us with a sufficient capi tal to answer the purposes of our people. amis ueucieucy must ue maue up in me pappr.currency ot other States. Thus it is self .evident, that we are made tributa ry to foreign Banks, over which we have no control, arid into whose solvency or insolyency, we have no legitimate power to inquire. I am rsgainst this foreign tri butary system ; and to correct this evil, at least in part, .we who oppose the bill before the Senate ask to let in the Literary nund to the ampqnt ot g50,000, and . the University to the amount of 8150,000. Both of these institutions tell us that they can, in a very short, time it permitted, nay up this amount. One of them has it already in hand. Should the Legislature grant this request, we at once have our circulating medium increased R200,6o6, which, I trusts will send, back that amount of papr currency to the Banks of South- Carolina, there to remain. 1 in conclusion. I cannot forbear to re- mark that the Legislature will be untrue to itself,' untrue lp the people, to drive any portion of its capital from the State, and to withhold a sufficient sound circu- latingUd'ni'iroro its citizens,' at a' .timeisubjectitothe iiivestigatiop bf oij all our Mr. Welborn ; replied to Mr, More headland disclaimed any hostility to, the University, and made a few remarks up on other points in debate, which we could not distmctlvTiear. Mr. Bryan said that the debate which had already taken place, seemed to steer clear of the most material inquiry forlthe i j r ii o tirLii.i.:ii advocates for the University had urged its claims with great ability and perti- consiueranon ui ine senate. vYiuisL uie ty nacity, and those tor common those for common schools, had not evinced any want of zeal for their advancements all seemed to lose sight of the very grave and important question, whether the sovereign State of North Carolina should pledge her faith and cre dit to borrow the sum ot tour hundred thousand dollars, to enable her to take the reserved stock in -a corporation of her own creation. . He more than doubt ed the propriety of filling the blank! with that sum, and if the abstract proposition were submitted to the people, he believ ed that not one fourth would concur in that opinion, This is a political specu lation $ it is unlike the adoption ot some liberal and gigantic scheme of internal improvement, whereby our great resour ces may be developed and made useful and effectual, and which, being worthy of a great State, would naturally i call unon her to throw her faith and credit into market, in order that she might ef feet her great plans. In this, every man lis willins to make the experiment, be tide of emigration, and diffused content ment and happiness among their citizens Ih:s, or some other important work wor thy of the State, would seem, if modern usage is to be relied upon, to be the pro traordinary expedient of pledging the faith and credit of the State. He had said that this was somewhat of a politi cal speculation, and he regretted that some gentleman, competent to the task, had not shown to the Senate its practi- cal operation, or that it had not appeared in the report of the committee. tentie men had declared that the stock was worth tep per cent, above par, and that the State should by no mean? lose the present opportunity of enriching her cof- fers, by so advantageous an investment. Hp had nnr since earlv in 1834. read the act incorporating the Bank of the State, and he was not prepared to sav what were the exact terms upon which the State would entr into copartnership with individual stockholders; , it seeftned to him, with due deferenpe to those who had preceded him, that it was somewhat precipitate to pass this bill, without ha ving made these material inquiries. He would ask if the stock would be worth that sum to the State, provided, in order tp take the same, she' is compelled to re sort to the expedient of borrowing the money? He, was .not very familiar with the charter; but Irom the terms therein contained, lie felt assured that every share would cost the State one hundred and three dollars, being at least three per cent, advance ; and when we super add three to five per cent., which this bill authorizes to be given for the mqney borrowed to take the same, the stock will stand the State in about eight per cent.; and whether it will be burdened with any additional impositions, in consequence of coming into the copartnership at this late hour ot the day, he could not saV The dividends heretofore declared, had not exceded five per cent ; it was proba-l ble they woul d be higher hereafter, as!ry VV here, throughout this pnion,caq we all know thatavry considerable sum of money is necessarily required to get the Bank into operation; and from that cause, it was to oe expected, tnat the first dividend would be small. He had great faith and confidence in the wise arid prudent management of the Bank, under the direction of its present able and up right President. Nb person entertained a higher opinion of his merits .and quali fications than he did, and if we could haye the assurance that God, of his in finite mercy, would preserve his life of usefulness to the State, he could have no hesitation in saying to the Senate, that this institution might be equalled, but not surpassed in its abl-e and beneficial administration, by any in the country. llus is not the least ot the chances which the State injust run in the invest ment of so laige n- amount of money. We pannot fell into whose hands the fi nancial management 'of tlje Bank may pass-TTtowfjiat purpose may pe devoted what may be the political changes in the institutions of the, country, and what may be the exigencies of the State, in i tlme to pome, i hese may not appear to be weighty .reasons against the investment of money : ut. they fall witlv peculiar force and demandlmature consideration, when we are. asked to borrow it. Jf the State were possessed already of that amount, in idle and surplus capital, 1 should nqt in esi rate to-give my sanction, lor its. in called upon to "barrow it, and to not only the taith ot the Stte, but alt tne Shares which the State not only holds; or may hereafter hold, in the: Bank, to gether with the dividends, whichmay ac crue thereon, for its payment, L confess I am incl ined to adopt a smaller sum, to fill the .blank with,-than four hundred thousand dollars, - . This determination derives additional weight, when I reflect that our treasury will be nearly exhausted, by the expen ses. Cyf this Legislature, and that we -may yet s,tand in need of aid for the. comple tion of our Capitola structure to which he never directed his eyes but with feel ings and emotions of pride and exulta tion. He could give hi hearty tebneur rence to fill the blank with two hundred thousand dollars, and this would enable the Legislature to do justice to, and be stow a benefit upon a,n institution which had conferred more honor and eredit up on the state than any of its creation -he meant our University. It vyas known tp the Senate, that, after many struggles and much dificulty, this institution had realized a fuhd of one hundred aq,d fif ty thousand dollars, by the sale of its Western lands. This fund must either be vested here, or be driven from the State, to seek a proffitable investment elsewhere. , Were we prepared for this? Is it the part of prudence, and good poli cy, to drive our capital from the State, where it is so. muclvnee,ded, and to sup ply its place, by resorting to the expedi-, ent of borrowing money qn the Taith of the State ? yHe was not well read in po litical economy, but his own reason, un aided by the light to be derived from that abstruse science, shewed the fallapy of such a measure- lie had been, asked by a Senator, wheth er the State could permit the University to take this stock ? He could only reply that that question had been put to rest by the Legislature itself; he believed that, under its sanction, and by its di rection, the Literary fund fead already invested in the Bank the sum SI 70,000 The charter prescribes that the State, shall be entitled to subscribe for two fifths of the capital of the Bank ; and he pre- sumea mat ii maue no uii'erence, wneth a .1 I aIOi.- a er it was taiccn oy ine oiaie, or oy any institution or individual, under its di rection. It being set apart for the State, and exclusively appropriated for its use, it belonged to the State, and she could make whatever disposition pf it she pleased. It may be asked, if the State shoultj decline to take it, pr to appropriate it to any o ther use, what will become it ? He was of ppinion, that it might be thrown into market, for individual or other subscri bers, although candour obliged him to say that he was opposed, in this opinion, by most respectable authprity. The-Senator from Martin thinks that my anxiety to per mit the University, to take S150,000 of this Stopk arises entirely from the belief on my part, that it will be profitable; and asks why then not let the State take it all ? The reply 4S obvious, because the University has rthe money, nd the State will haye to borrow it. The 1 Le gislature is bound by high considerations, to foster and patronize this Institution .; for no . injunction in the Constitution forces itself mqre imperiously! upon qur minds, or calls more loudly upon us for legislative aid, than that which declares tlut all useful learnjng shall be duly cn couraged, atu .proniote4 in one or more Universities. e regretted, from the bottom of his heart, that an attempt had been made to create a feeling of hostility between this Institution and the common schools of the country, The Senator from Wilkes does himself as weli a3 the University great injustice, when he designates it ai the nursery of .he aristocracy of thecoun- an institution be round, in which the blessings of a liberal education are so ably and bountifully bestowed, at sq small and insignificant a price? Where, he would ask the honorable Senator, will he find a collection-of young men, so" mea gerly supplied with' that which consti tutes, in his estimation, thp aristocra cy of the land? and what" institution can cTaim the pre-eminent distinclioh ot having made so many poor young menich in intellectual wealth? This, at last, should constitute the specif capi tal ot every young man's .wealth, who seeks the enviable distinction of being honored, known and respected. He de precated this attempt to array the poor against the rich, and it came' with ill grace from the respectable -and liberal gentleman who uttered it and who claims to be so republican in his doctrines Un der our happy form of government, this distinction cannot exist ; for every man is the maker of his own fortune ; and merit and talent will forever constitute the true nobility of the land,... Is there any foundation for this charge? The common schools of the . country are the very , nurseries which " contribute to the support of our University, It j; tiu that our young men recejve ke prepara?, tbry education for collegeaftd it -U upon them thatithis-institution' is dependent for itSM very existence and well 4being j whilst v OTl the Other, hand, the Um- rvo'rcitv i: tWpniirainiv tnnthpp of: ar.hrol-llvB in asters Young men yVhay. having1- exit peniled t,hyrviiU in theM'cqu?Utioiif "ati educatroQ,,are necessarily cbnielledl'tq resort fb;l his Jiigh "minded an4'4ionbraj ' mployme1nt, , to obtain meanXwhereby, to attain thevc mpreambiousiews aiW. I 'designs.: Theftcftbtheseiu of Earning ?reViplose identified. To -palsyvtlie power aijl4iser fulness of-thfe one, istolestf by the fhai . racter and existencejaf the other fVHh what propriety Ihenca n it be said,' that the University is iitf- nurter jsbr at'ulo . crats, and' a foe to the common schools, of the country? It is the fountain whence streams off krtowege haVb flowed! to evefjr county iu the StateJthasleva ted her character, imprbved0er social condition, and called into active and use ful existence many" a flower ; that would otherwise have?' been born tovblysh lin seen.M yit. is, therefore,, futile to say , that tins Institution's only beneficial to the rich ; for belieye me, every puor man in the State is djp)y interested n its; welfare.. The rich, h aire" Jth'eJ' ;ibi U ty 'a'li means to send;their sons to othertatei and Seminaries, tp acquire an, education. Whilst the poor man, from the poverty ot his mean?, is necessarily confined, "in, liis selection, to. our twvn J Uhiyerstty, where his son may not only receive a high-' jr iiuciai cuuLttuuii. uuxucMnay. acquire, it at'a very small expensed Thia-f iyiryj "' this jealousy of feeling, between schools of the country, and' this Institu.r tion, which is here attempted q he excit ed, cannot Kut be proiluctiv.e. qf serious injury to the best interests of the State ' at farge. Look buck for a series bfyear to your-hUs of legislation ; and you will there behold 'the fruits of tl Institution, Who are those who have dignified-anii. adorned the pulpit, the1 bencp, -arid'vthe Legislature of bur State, for a long seriei -of years? Turn your eye to our sur- ' rounding sister States, Virginia, Ten nessee, &c. and ask them, who constitute theit brightest jewels i and like the Ho- man matron, they will point to many of their soqs, who haveTeceived their edu cation there. This ii.a'iprpl-jtrtpte.tq the merits of our Uniyersityrid is he acknowledgment of an-lapfvhlch'' ourselves, 1 fear, refuse to pay. J But how shall we apeak of him Aa great bene factpr of the State him, the father., friend,' tunf patron of tola uacf ul institution him who did " a martyr in the cause of education, and feltgioua , irqth? Language is inadequate to the task, andef ery North Carolinian is a speaking . monumeat of his piaise. He well recollected, continued Mr. of antincidept, which not only oxeinplifed the' us1 ? fulness of this great and good rnan but 'also develop " ped the beneficial effarjs of this institution, and x; playfulness of his character. Whilst "on a ybiit to,, the north, he stopped at Washington City during the session of Congress : he was admitted into', the : Hall of the House of Itepresentativca ; ?-and aa , eooa as it was known that he was there,' immediately fif- , teen or twenty members of: Congrirw hb-.forniec ' pupils, gathered around hirh, expressing .the most 4 heartful joy . at again beholding him, and in 1 that place. The emotions and proud' fecoJIectionahich: came over him, were of no ordinary character ; and " when recounting thbs incident,' and describing hi; feelings on the occasion, he cqhctuded by Bayih. .. that he began to feel as if he were with the ' bbye . at, Chapel Hill. ' This simple fact speaks! vol rime , in favor p,f pur University f and the State would be 7 recreant to the great cause pf education, . whose in, tercsts she is under high moral obligations to pro ' mote and support, if she refuses to take advantage oi mis opponunny, io aiu ana sustain una insum It has been -said by a Senator on the 'left,' that "If w this privilege is conceded, the State "will,; actuanyt- '' give to the. University the um of $15 ,bf 20,opbji 4. Let us examine this argument ; for, to ma .apprev ' hension, it was a perfijet soplrism The , nght to take this stock, is an inclioate one, which is not: perfectedj until the money is paid in, according ' '. the terms of the charter, within the time prescribed. Suppose the State should concede this right to take the Stock, does it part with one cent of it : money?:' Is it not the mere concession of a privilege, for which the State .has paid nothing! Wiir thipriv-. ilege yield her any thing without a payment of ,thV money ? is it profitable'l does it enrich her; treasury! It cannot grant, as a boon, that iyhich she 3oe( ot possess, aqd which of itself ia un(rotable.; 8uppo the University should take a portion of v the . Stock, it would be required ta pay for the seme iprwilf the same amount as would be dcmandd of Ihe :. i State ; or suppose the State should take the- whole v amount bf $400,000, and agree -to let the Universi ty.have one half of it, how would this mighty .'boon he given to thc-University, since; it. wouTd payfbrSr it, what it cost the State! He woojd put if upon H the most favourable grounds, 'continued Mr. B. Byp j pose the.State should resort to the undignmed er pedieht ef suDscribineifot it and hawkinz it about in the market for sale : rgendetoen have declareoVi that it is worth ten per centT above pflr..aBd tluoir-ial handsome sum might be jealizedyf the; 8tate compelled to borrow money at five per cent-anu the) Stock will cost three per cent, in addition what be--' coma of thU great boon to the r University? Hj, did not believe that there wae a Senator en tlib floor, who would lend ha aid, in order taitpha ' State might raise a sum of money, by pledging, heir ; faith, to engage'ln a hazardous apeculationv ni: nn- tv of her own cbrp$radons.rtrpon her own mstittiouaJ It was true that she , had tte; reputatiprr of bein poor ; bpt He had rather see bet reduced to the situ ation of Francu the first, so that, - Iilje- nim, ab mieht exclaim, all was lost save hcmorlUae thaa subject her to so hUAilfiting "condnioit': ' 4 g'J lit is wiaW'to-'taketlw.whole' 'of,'. Ihia; W cause itlvould give the StaCe ascendiney' ia t6s'; institution. The proxy "of 'theStafe j'wujjidORSj.'' sarily be used by onaTOani'and thereismorsaa v ! ger to be apprehended frbih Uie abbsey efita J)OWert J to the fnsdtudon, indv sinwter ppU 4-? than from the exercise of the power l'jJifiMfr'' Bt. discussed dtis poiht, and doubled. Jhe propijer of die predominance pf State mflnericetun private bt pnhliiiv corpretionV " lter cmmestisg,iat length rJ upon the jastice .nd hecejifit ,of tl$wjn.j4pui; versity to take portion bf'the Stoek,'and tboxpe- diency of subscribing the qia of 4vK,DOd' part the state, iwrr a coneiuapa :oy tayia, lorw mMian of the "nUemanfrom GranviRe I, conMderauon woiuu mauce nun w ysnw ijto. wwild dA.with the convtoUion, t u SI! 0 i Hi. 1 n 1 m -?- 4 r--J- rv Reprcfe'n'tativSj. vesfmeptin thb Bank forthwith; but when - i- 4 I '.V mm . A ( - ' f . A 0 .
The Weekly Raleigh Register (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 5, 1836, edition 1
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