The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-11-23

III the stale would lend her Gedif 10 tnt
} company By a guaranty Of their bonds for
500, 900 dollars. redeemable at long dates,
the company might we'll expect to procure
a new subscription TO their stock by the
present proprietors and others, equal 10
100000 dollars more. THIS patronage oil
the State would give fresh courage to the
company and revive public confidence, and
these constitute important ingredients 10
ensure success IN sach enterprises. pro.
coed 10 show the truth of my assertions.
LIST. IL will be aid TO the company, and
very efficient aid; because IL will enable
the President forthwith TO sell the bonds
and raise the necessary means-because i
will enable hm 10 make the loan upon
much better terms, and on long credible.
cause II will make sure the progress of the
road and probably ensure It's completion
and success-and it may and very proba.
bly, will induce The propretors OF The stock
10 advance their own investments TO point
where the company may dispense with
making any further loans. The essential
difference IN the money market between the
Safes bonds and the company 5, will be
that the former will not be pressed for pay.
tneni-ihe latter will be more Vigorously
exacted.
%. 1t may be done without any great
/ risk. The interest on this loan will be
! 10000 dollars per year. No one can sup.
pose that the road will, under any circpm
stances, weld less profits than twice this
sum, and By compact With North Caroll.
IA, the whole profits may be subjected un.
der her directions 10 she pay nient Of this
interest. 4 profit of per cent. on the
whole cost of che road would be S72 600
per year. Only per cent would save
the State from loss on her guaranty and
sale OF the road would never be forced
eScep, at the Will OF the State, for the hold.
ers OF the scrip will b. SATISFIED rs Ioug a.
interest IS pa'd and the principal stands
secured by pledge OF the State.
81. IL may be done without burtheaing
Y the people. Tins IS shown b, lhe last pre-
eedlng remarks. The mos alous pre-
cautions may be taken against any default
Z OF the company--a director mot a stock
holder) might be nominated by the State,
Ii II Is thought desirable, aud he might be
empowered to take care Of the interest OF
the Stale AID proven, any diversion OF the
income OF the road from the purpose Of first
paying Up the interest on this debt as II
falls due. A SINKING fund NIGH, be form.
ed cut 81 surplus profits 10 satisfy the pro
cipal as the lnsialments tell due. Il 1t
shall be deemed necessary, conditions mnh,
be attached 10 the guaranty which all
obhge The corporeiors 10 increase their sub .
scuplions to a sum that wl BE- suiIIr,eu,
to complete the road, ahen such additional
subscriptions are added to The loan Though
care ought to be taken to protect the State,
the form OF that protection should not he
such as will defeat the principal benefit
tia, - intended TO the company.
In some say, however, upon this plsn
OF assistance. there must be LAID a reslrIc.
ton upon the Company, against contract.
ing any further deb, wIlhou, the consent
OF ths Legislature othera Use the couse
q0ences might be dangerous to The State
as a. eadorsef or guarantor Of their fra
debt. THIS proceeding on the part OF the
State ought Of course to BE- preceded by
careful scrutny into the sexual condition
OF the Company. b. this, | am iar from
designing to express ans dls,rust II i, nv.
sell, bot The agents OF the public arr N du.
" bound 10 examine INTO the situation of
any Corporation, before they make the
State MS endprser, however patriotic and
IauJab'e the purpose may BE-
iih. ! have SAID that this will no, inter.
ere With the system OF improvements oil.
ready adopted. This is par, OF nv sub
Get that requires more detail, as | know !
here are objections connected with It,
ahich are not TO BE- removed al word.
vii eodeayor to meet them in nv NEXT e.. 4
,ay. MENTOR.
\. Il. To avoid misrepresentation. j
gam rcyeat that do no, mean 10 say. and i
do not think. that the State ought to cs. y
abIlsh any Female Institution at Raelrh.
Not at all! But II is pubic evil, where o
he intercourse among the different sections e
! the State IS go difficult, and other causes
o operate with IL, - scatter the private
ieans Of establishing Institutions Of the u
ind. It's with this as many other things,
IT We are forced out of the State, 10 Dur. y
base what We want. That produces
ram upon the general wealth OF the Stale
nd any thing which promises 10 remedy the
'll, by enabling individuals To pursue
iiierent plan, ~ worthy Of public regard, II
nd deserves TO rank among reasons Of :,
InIc L., ...1rI IL :. Z ~