The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1836-07-22


: Resotred, That the proceedings of this
meeting be published in the Charlotte
Journal.
ALEXANDER GRAHAM, ch'mn.
II. d. W. ALEXANDER, Secretary.
u Thoughts upon The application of
The D'posifes IN our 1Teasury.-fhe investment
Of so large q sum Of money as is likely 10 come
into our State Treasury from the revenue of the
I. States. naturally raises an enquiry ~ 10 the
manner OF its application 10 the best advantage for
me State We take il Tor granted, as il is not our
money In absolute right, but may by the very terms
OF me opposite, be recalled some future day.
mat our Genera! Assembly will take care TO use il
IN such manner as 10 be able TO come at the a..
lhouh' IN The event of a Retainer by the cepos.
ting party: al least, that the interest of S per
cent may be arrived al whenever draw is made,
tor that IS all the State is likely 10 pay even after
such call, unless she chooses 10 nav off the min.
cipsl. To the end therefore, Of meeting such n
rcquisiton, II would be prudent for the State so 10
invest the amount, as al any time 10 command the
interest, and al the same time 10 improve her in.
4 tcrnal condition. Experience has proved thai
Ran Road undertakings are MS certain 10 be pro.
| hiable "a any other. In fact there is no thirty
miles Of such work in the United States but whose
STOCK Is above par: IN one instance, in our own
STATE, the case OF the Raleigh and Castor Rail
Rond, 1t rose 10 | per cent. above par before
spade had been stock in the ground or 4 rock bro
ken. We have many routes in North Carolina
equally inviting with dis and II too many are no,
undertaken al once, no doubt but This money can
be made, not only TO yield per cent, but make
permanent revenue to the State in all time 10
come. We 90 not mean that the State shall I'm.
dertake such works entirely by Itself: 1t is well
known that individual interest is the best srcuri.
ty that such work will be conducted prudently:
We, therefore, would leave the conduct and man.
agcment OF these matters 10 individuals, wli,e
the Slate should participate largely in the stock
say, 10 the extent OF Two ttths or one third. But
individuals IN this country want capital, and the
terms OF credit are SO rigid here that II is impo,.
SlbIe for them 10 command it, Many have vaIu.
able property, but cannot command funds. As
the State viii have u large sum for disposal, we
suggest that the State shall lend portion of this
money 10 subscribers IN stock on such terms as
may seem reasonable, 10 be refunded out of the
profits Of the work as they may accrue, or soon.
rr, If the officer OF the L. s Treasury should call
Tor II. FOR such loan the State may axe pledge
OF the stock 18th collateral freehold security TOR
any possible difference between the value oil the
stock and the amount borrowed. This security
might be made IN such way as 10 remove the
lien IN certain contngenclesof the stock itself be.
coming ample, and thus make the Inconvenience
light on the pIedger. 1t might also be pfoyid-
ed that such pletging should not deprive the own.
er OF any polica! advantage OF civil right that
pertains 10 a freehold estates. Thus the Stale
might put oat its money IN profitable and safe 1
way-the internal resources of the country b.
and the farmer have a profitable stock
with his real property doubled in value besides
the Inesilmable advantage Of good market for
his produce now all this could be done without
risk for the safety Of the money loaned and in all
probability without the stakeholder being called
On to pay one dollar on, Of his poke, before the
Rail Road could 60 into profitable operation
Then he would always he able from such proceeds,
10 meet any demand hat the General Government
light make on the State.
All that seems necessary To the complete snc
cess OF this scheme Is, tor the legislature 10 take
care not to 20 in too deep Into schemes of dodbl.
'ul proprlety, and not 10 trtcr away the amount
IN multi Jeiiy Of undertakings. BY applying
i in sufficient sums 10 carry through few inpor.
ant undertakings, II may soon return in the shape
}; tolls and interest, and thus again be ready 10
We applied TO other schemes OF improvement in
endless succession: but if it is doed out in drb-
diets, in all probability it Will be productive OF little
Lood
We know something Of Lcgishtures-we know
he great eHgerness OF members 10 pet some place.
Do for their constituents, no matter how III suited
o their wants aud injurious 10 their general in.
erests-it Is the same weak, but am'abie feeling,
ha, prompts the father to stuff his pockets with
gingerbread for his feeble urchin, which in the
md may endanger his life or carry his old lady
lew calico trock in the dead of winter we very
no
ID By our Legislators We ought 10 remem Der that
n all probability these distributions will be con.
inued for years, and that every part Of the Safe
hat has claims will be successfully accommodated,
t they will have little patience As much as
NC wish he valley the Iadkln TO come IN for
hare OF the advantage that this fund will yield,
md as magnificent as we think the pros poets held
,ut, wc would nevertheless, far rather she should
,e postponed in her participation tor several years,
han that this sum should be cut up into solall and
Inefficient moigties.
We have merely thrown out these crude hints
for the ref, cton Of those who have bestowed
more thought, and have more experience than
1ursef We are satisfied that some such policy
nus, be pursued TO make this money what il may
become, blessing 10 the Stste.-C0r. HGtchmHn
Extract Of letter 10 the Editors Of the Ral'iri
Register, dated AshborO', Randolph County, Ja-
IL ), 1886
Messrs. GALES & Sow; I proceed to inform you
# the deiags Of the Van Burcn Meeting held at
his place.
Agreeably to = long previous notice To the Coun.
les composing this District, the Delegates met on
he lst instant to appoint an Elcctor 10 run on the
Buren, Ticket, and 10! when thew appeared,
here vas one from Chatham, to Wit, John ASTON,
4 -, Tsui lOrI In urtt luln NJ Dick
ESQ, one of the Judges OF the Superior Courts of
Law and Equit, in this State Doct. B. Adams and
John Gordon hut not one Van Buren, man appear.
II e., -, Ern,1,tr Thn how nrd lnnr nm.