Newspapers / The Tarborough Southerner (Tarboro, … / Nov. 21, 1834, edition 1 / Page 2
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Communications roil TUB I'KKK I'll ESS. 'Intendment of our State Constitution. No. tf. Without stopping 10 examine those minor detects peculiar to our system the adjustment of which, all parties would most probably sanction and which the people would unhesitatingly commit to the discretion and wisdom of those whom they may invest with amending powers let us pass on to the more important con deration of the ellects winch our sys tem may have had upon the financial concerns of the State. One would suppose that the plain un pretending North Carolina, who has scarcely meddled with internal improve ment or any other enterprise deserving notice, would b free horn embarrass inent in her pecuniary affairs "that the ttip Van Winkle of the South" had hardly been a spendthrift during his long sleep. But our Treasurer, sustained by other authority, reports: "That for many years tin? ordinary revenue of the State lias not been adequate to defray the ne cessary expences of the government that thedelieit has varied from 12 to 17 thousand dollars per year that the sour ce which have supplied it have been fluctuating and temporary and of late nenrly discontinued." During the last twenty years the State has had funds amounting to upwards of 700,000 vested in the stocks of the New bem, Cape Fear and State Hanks; and also 8126,000 in stocks of different inter nal improvement companies. While these Banks were in full operation they yielded a handsome income to the State in the shape of dividends, bonuses, &e. which with the ordinary revenue derived from public taxes, and a few incidental resources, produced heretofore ample means for defraying the expenses of the government but these Bank profits have ceased, and ih charters of the Newborn and State Banks having lately expired, they are winding up their affairs and di viding their capital among the stockhol ders. The State is thus receiving back about $340,000, which a prudent econ omy would direct to be again profitably invested hut (his our necessities forbid, for under our present system the necessa ry expenditures of the government a mount to 880,000, and we have little eke now than the ordinary public tax of 863,000 with which to meet them. The principal means left then to pay this bal ance of $12,000, is to draw on the capi tal which these banks are returning. Thus the deficit of the current ver would be 849,000, if a dividend of 836,000 on the capital stock of the Nrwbern Bank were not among the available estimates even with it the deficit is 813,000. But this is not all these Newbern and State Bank storks have; by this course been al ready reduced to $128,000; and extra debts, amounting to $93,000, stand ready to reduce them to 835,000, which sum will not cover three annual deficits of our treasury. So it appears that we have not only consumed the annual taxes, and the great profits from banking opera tions, but also one-half the capital stock which yielded the latter ;md from pies ent prospects the other half must soon follow; for all thai remains consists chief ly of 8200,000, invested in the Cape Fear Bank, and a school fund of 8117,000, vested in the new State Bank. The fol lowing statement will present some thing like an outline of these expenditures for the liibt twenty years, and is no doubt considerably below a true estimate. We have in the last twenty years received and expended Thn profit derived from banking ope rations, - - . " $ 1,000,000 Annual public tax. SG7,000, for twen ty years, - - 1,340,000 Incidental receipts $15,000, for twen ty years, - - 300,000 Capital stock, Newbcrn &. State Hank, now returning and nearly consumed, 3 10,000 . ,rf...liru! number: Pro- not practising the "rictc :onsistent with its theory. This indeed vided that cacn tou . y . ni.ht be a matter of -eat surprise, did to send at least one Representative. Making, S2,9S0,000 Thus we must have expended nearly throe millions of dollars in the last twen ty ,?irs-or an average of near 8150, 000 per anUUm-urKj luis in a govern- con mi"ht be a matter ol great surpri not the foregoing reflections and the (act "that the expenses of our Legislature alone, ordinarily exceeded the aggregate expenditures of all the other departments, united to appropriations for internal im provement" develop the singular anom aly of a parsimonious extravagance in the character of our system. Neither would the mere amount of these expenditures appear so hideous were it not for the consideration that a large item consists of half of those investments which were intended as a permanent resource to lighten our taxes and ought to be ro-iii-vested, not spent that vo must soon exhaust the other half in the same man ner or raise our taxes twenty per cent. that we are likely to be soon left to de pend solely on high taxes for revenue, and that under our present system our expences cannot diminish, but must con tinue to increase. If such be the lessons of the past, what can we hope from the future? The present was the future once, and it comes to teach us that it is vain to expect from our system results more fa vorable hereafter than those already re alized and that our only hope is reform without it the next fifty years must bring but the same conviction and the evils which we endure will be nothing to the ruin which we must transmit to pos terity. Once among the first of the States we have already fallen to the sev enth and become the by-word of all our State pride is gone, and unless we make some effort to regain it, our degra dation will be complete. Let us then no longer continue the dupes and vic tims of a sectional spirit, having no foundation in reason and serving no purpose but to palsy our steps in the path of prosperity; but guide by an enlighten ed patriotism let us give our sanction to a measure recommended to our adoption by every consideration of interest, and commanded by ihc most sacred obliga tions of political justice. If, however, we are deaf to the suggestions of interest, let us remember that these obligations are imperative and cannot be evaded with impunity; that political justice is the fos tering spirit of all free governments the only sanctifier of their acts, and that with out it they lose their only claim to the veneration and submission of freemen. Do not hesitate then to obey the promp tings of a virtuous ambition, when the sub ject before us presents so fine a field for the noble efforts of patriotism, and an opportunity for this generation with pru dence and wisdom to rear a monument worthy alike of the glory of our fathers and the gratitude of posterity. AN EASTERN CAROLINIAN. FRIDAY, NOVEMHER21, 1S34. Instructions. A public meeting was held in Hurnsvilie, Yancy county, on the 2 1st tilt, at which resolutions were passed instructing their representatives in the General Assembly to contribute their support towards elevating Gov. Swain to a seat in the United States Sen ate. And, on the 3 1st ult. a simitar meeting was ludd in Snow Hill, Greene county, at which their rcpiesentatives were instructed to vote for the re-election of the Hon. lied ford LJrown to the same office. At the latter meeting, resolu tions were also passed, approving of the course of their Congressional representative, the Hon. J. Speight, in regard to the U. S. Hank, &c. Gen. Speight submitted the following resolution, which was passed with but one dissenting voice: Resolved, That it is the opinion of this meeting, that the Constitution of this Stateshould be so amended, as that each county shall be entitled to one Senator, and that the House of Commons shall be composed of members chosen agreeably General Assembly. -W were confident thai we should be enabled this week to present our readers with the Governor's message, but are sadly disappointed. The last mail lnm Kaleigh, merely brought the Register, g.ving simply the .IptaiUnfihR organization of the I wo Houses, &c. and we can gH " additional information from private souics. In our next we hope ,.Li. cimi rni inl II IPs to give the message, nm as to the relative strengih of parties, &c. We copy the following from the Register: State Legislature. -This body, as sembled at the Government House in this City, yesterday, a little after 2 o'clock, and proceeded to the organization of the two Houses. In the Semite, William D. Mosely, Esq. of Lenoir, was elected Speaker, without opposition. Gen. Samuel F. Patterson, of Wilkes county, was appoin ted Principal Clerk, and Gen. William J. Cowan, of IJIaden, Clerk Assistant. Principal Door-keeper, Thomas L. Wheeler Assistant Door-keeper, Green Hill. In the House of Commons, W. J Al exander, Esq. of Mecklenburg, was elec ted Speaker, without any formal opposi tion. William II. Haywood, juu. was nominated for the appointment, but he immediately rose and begged that his name might be withdrawn. This was accordingly done, but a wish being ox pressed that a ballot nevertheless should take place, it was accordingly had, and the result was as follows: For Alexan der 84 for Havwooil, 22 scattering 8 or 10. Charles Manly, of Raleigh, was chosen Principal Clerk, and Edmund B. Freeman, of the same place, Clerk As sistant. To avoid erroneous inferences, in these exciting party times, it may be proper to state that the Speaker of the Senate is a friend to the Administration, and the Speaker of the House, a decided Whig. Raleigh Reg. tt?The Federal Court had a short Session, none of the important Land suits having been taken up for trial. A youth about 15 years of nge, Jiuncs Dallihitc by name, was convicted of purloining a letter, containing money, from the INI oil which he had in charge as Post-bov, and was sentenced to ten year's imprisonment in the Jail of Hillsborough. ib. Fatal Accident. A negro child, four or five years of age, was burned to death in the suburbs of this city, a few days ago. The mother left it alone in the house, and, on her return, met the little sufferer in the yard, wrapt in flames; its clothes, which were of cotton, having ta ken fire in her absence. Its skin was literally burnt off the body, and it died in a few hours. Ral. Star. Great Solar Eclipse. An eclipse of tne feun will take place on Tuesday the .utn ot tins month. At Savannah and Charleston the eclipse will be total, and nearly so here. Its duration will be 2 hours 49 minutes, beginning at 31 minutes past 12 o'clock, ending at 18 minutes past 3; greatest obscuration at 58 mi ulo i o ciock. we would caution our readers against permitting their chil drcn or servants to look at it with the naked eye, as serious injury has some times resulted to that organ from such an indiscretion. There will also be an eclipse of the Moon between the hours of 10 in the eve ning of the 15 Dec. and 1 in the morning of the lGth. Fay. Obs. Petersburg Market, Nov. 17. Cot ton Since our last, the demand has con tinued good, and all that was offered in market found purchasers at 15$ a 15.$ cts. A lew bales of choice Cotton of the old crop (superior to any of the new that has yet appeared,) were sold at 10 cents, but mis cannot be quoted as within the range of current prices. The supplies by the Rail Road continue to be large. Rail Road Stock has advanced in val ue, and shares now command 890 and more, including the dividend. Int. former is selling nt ?G 50, and tl,0 alt at ?i cents. How long the.e ,ioh J ces will be supported, HsomewhVu' certain. We are inclined lo think i , .. lM,"K how ever, that our farmers will (0 Wtj avail themselves of the present m-ii.'0- the market. The price of p0rk inrly ! greatly affected by the supply article which $ome of our cote mporari have ordered from the "great w;m " Neicbera Scuttnd. New York. The returns from all ttp counties in this State have been uu-u' ed. Gov. Marcy is re-elected lv a rrii. jority of 13.G37, being an increase t ,1(J administration since the election of 3 of 3,333 voles. The Legislature stand 35 whigs and 93 Jackson. Tlu-rv are 31 Jackson members and nine Anti' Jackson, returned to the next Conrev0 from the State. Important Measure. It will Le per ceived by the subjoined Circuhr from the T reasury Department, that from and after the 1st day of January next, dip Branch Drafts of the United States Bank will no longer be received in payment for duties by the Government. The no cessity for the adoption of this measure is fully set forth in the letter of the Secre tary of the Treasury. The precaution,!, ry wisdom of this step will not be dispu ted, when it is recollected that of the fif teen millions of dollars, which the United States Bard; now has in circulation, sttm and a half millions arc known to be of these checks or drafts issued contrary to the provisions of the charter, and without the color of law by Congress. The measure is certainly calculated to pro duce momentary alarm among the hold ers of this description of paper, of which a great deal is counterfeit, and none of which the Bank is legally bound to re deem. The day is not very far distant, when a large portion of Bank paper will give place to a currency more sound and substantial when well filled Buckskin purses of glittering Gold and Silver, will jingle in the pockets of the farmer, in stead of that perishable and ragged trash the value of which i. vcr fluctuating, and which of itself is so liable to destruction. In future times, it will be remembered we are sure with gratitude by his country men, that not the least of the blessings of And rew Jackson's Administration was the restoration to the people of a consti tutional currency. Ftt. Con. Importation of Specie. The returns received at the Treasury Department, show there has been imported into this country, from the 1st of Dec. to the 11th of Oct. $18,132,706 53. The amount brought by passengers, which is not reported to the Custom House, is supposed to be one or two mil- ions more. I'lie whole amount of specie now in the country, it is estimated, is about 850,000,000 a much greater amount than has ever before been in this country at one time. Globe. Pork and Cotton. These articles command fine prices in our market the GJTo enable our Government to com ply with the fourth article of the treaty with Spain, which stipulates that the Government of the United States will de liver to the Spanish xMinistcr at Wash ington, in six months after the exchange of the ratifications, a list of the claims of American citizens against the Govern ment of Spain the Secretary of State has issued an 'official notice, requesting "that all persons having claims against the Spanish Government, which have ori ginated since the 22d of February 1819, and before the time of signing the Con vention, and which are supposed to be in cluded in the terms of the said treat v, will send to this Department without delay, a note thereof, specifying the nature and amount of each claim, and the name of the claimant." The time within which this list is to be furnished to the Spanish Minister will expire on the 14lh of Feb ruary next. Pet. Int. (TThe Frederick (Md.) Herald con firms the report of the intended resigna tion of Judge Duval, one of the Justices of the Supreme Court of the United States. The rcusons assigned for thic
The Tarborough Southerner (Tarboro, N.C.)
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Nov. 21, 1834, edition 1
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