The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1838-07-26
THE SURPLUS REVENUE AND
TUE SCHOOL, FUND.


THE SCHOOL FUND.
Many erroneous impressions appear 10
have gone abroad relative o. the DISPOSE.
lion made BY our last Legislature Of The
portion Of The Surplus Revenue received
by this state from the general government.
The origin Of these impressions il is moi
difIicnlt To trace. Snme men are natural.
~ prone IN find fault with every measure
which did not originate 10 their own
bright genius. The indulgence of This
iniirmiry in many Cases is merely Idr the
qualification OF envy; but sImrIimes u l.
made the means of supalan,ing a preds.
cessor. And from this cause does IL hap
pen that 50 little j. d,ne By nur I.rsisla.
lures. Those who e, in merely by ind.
ing fault with the measures Of their pre-.
decessors. will be sure 10 In RoIhing. lrsI
they tho should laose their seats hy the
same process. Their fears and dnuh,s
and excessive prudence. are pIr1dtd b.
fore the people as ample aIonemenl f"r
the great expense AMI lilIle prof. u their
legislation. but IL should be remember.
ell tia, clown can pull down the mos,
splendid eIificc. which the fines, skill
only could rear; and what planter would
keep an 0yerseer wlluse doubts wheiheI
This or Tia. pirce Of work shnnli be CON
menced. or whether in this or Tia, man.
ner j, should be performed. would KEEP
the hands all the day idle! But we are
wandering; our object was to talk d Tie
manner IN which The Surplus Revenue
has been disposed of.
Il will be recollec,ej tia, distinguish
ed individual. some time since, IN let
ter 10 portion of his constituents IN this
district, stated that al The large amouns
Of The surplus money which fell TO the
share Of Nor,h Carolina had been giuen
10 banks, rail roads, e.. This lctie,
was published in tie Raleigh Standard
lasi fall. and was Immediately followed.
in the same journal. by series Of papers
over the signature Of Mentor. UNIVERSAL,
attributed 10 Wm. III. HAYWOOD, csq. =
talented leader in lie Van Buren, party.
which, We thought, conclusisrly showed
that the money had NOT heen giUca away:
bu, on the contrary, that il had been very
Iuiiriously invested. and Tia, IL would prn-
,luce very handsome income 10 tie stale.
These papers Of Mentor. as they success
siveIy appeared. were transferred into tie
Recorder. and We are grai,lird 10 see il,a,
they have recently appeared 10 most Of
tic Wing papers in The state. They con-
tain many interesting statements, aud
show . financial prosperity % lie state
lillle anticipated. |. is not our purpose
nnw again 10 bring up The statements Of
Mentor, but 10 exhibit Few of our own.
In the first place. The act Of Tie las.
session appropriated 100000 dollars to
pay the public debt. Some individuals
pretend 10 have their doubts" as tn the
pr"pfieiy Of this appropriation; but the
people generally have none. because they
know that The public debt ough, IN be
paid. and because il stops an in,eres, oil
10000 dollars per annum.
2. The &C, of last session appropria,.
ed 100000 dollars fur The purchase Of
stock in the Bank of Cape Fear. a Ii,
tie while ago our popularity hunters adj.
vucaled the principle that all bank stock
should belong to the state, because. they
said. the en,r nous pt"ti's "f banking, If
'P.'lie | to public purposes. wonI rriie,e