The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-10-05
From lie Rdietgh .Siaudard.
No. 6.-STATE AFFAIRS

From ne Rdietgh Standard.
NO. estate AFFAIRS
Rr. Editor: have no@ laid before Won
in lhe two essays immediately preceding
ttis ne, Isl, MIR. Byrd's bill Cor dividing
the Surplus Money and ihe Literary Fund
amongst the countIcs, &c, with some rea.
suns for It's rejection. I'd, the Bill to es,a.
biish new Bank out Of the public funds
which | believe has 20 advocates aoac, aud
iflt be otherwise they have not been depn
we'd o. the power 10 pass 1t hereafter. b.,
the Report Of the Committee OF 70. 4jh, !
have referred to the Resolutions introduced
BY Mr.. tiake IN accordance with the SUI
ees,ion Of the Speaker, Mr.. Haywood, }
rnediiied 10 sun the apparent sense Of the
House. These resolutions were adopted IN
preference To the Bill which passed the
Senate or the Report IF the Committee Of
20, that Report and the Senate's Bill mo-,
beng materially d,tIareut from each other.
| proceed to state "a detad tie several
particulars IN which the Resolutions we're
different freln the Report OF the Committee
of 20.
l. The Resolutions proposed to pay of
the State d h,.
The Report Of the Committee did not.
,. The Resolutions Old not propose 10 IN
crease the capital Of the Bank Of the State
The Report If The COMMITTEE Of % did
3. The Resolutions proposed to lncrease
the Subscription Of Stale Stock 10 the Bank
ct Cape Fear 800 900 dol - and no more.
and TO diminish her interest 10 the Bank OF
the Sale By purchasing up tie STATE bonds
held BY the University, With 100000 dol.
lars Of that Stock :nereiv enlarsuIg the
interest Of the Stale 10 Banks 200 600 dol.
lars and no more.
The Report of the Committee Of 26 pro.
posed to Increase the interest of the State
10 both Banks 900, 00o dollars.
4. The Resolutions proposed to subscribe
for two htihs Of the Stock ~ two Raj Road
Companies, VIZ: ore frou Wilmington a.
cross the State to the R98aokc River al
HaIi'sx-he other from Fayetteville to the
Iaskiu River tn the " esi.
The 3ep0r Of the Committee Of 90 pro.
posed to lend the money OF che State 10 am
Rail Road or other Ioternal Improvement
COMPANIES incorporated BY The Assembly
OF Norh Carolina the rules aad re.
guia'ions already s;ated.
,. The Resolutions proposed to onpow.
er The President and Directors Of the Lite.
Tart lund (m whom the Swamp Lands BE-.
longed &c the public we're vesed many
years ego to make far aud thorough *.
portmeat ot the prsc'icablIay Of dranlng
portion Of them, and to seii the lands re.
claimed. Pror,dcd, iiiey should FIRST as,
certain that It would b. profitable use Of
the money.
The Report of the Committee of 20 con.
tanned nc provisions on this subject
q. The Resolutions 80 apart 10 tie Fund
for common schools 90 600 dollars 10 cash
: - Bank Stocks belonging 10 the stata-
'he income r'-~. gail Road Stocks and the
proceeds VI Toe sales II eAafnn l1sds IN
ciu6lGg other revenues heretofore ss,....s.d
By ne, a. a fund for the support Of CON
mon schools"
The Report Of the Committee of &c did
not appropriate for the present the income
n the Internal improvement flnd 80 schools.
A mala deslgn and object Of bprh plans was
10 enlarge and improve the School funds,
ard 'nis therefore uay Dr. considered an un. (
impodant probably naccideoiaisarance
The prominent reasons FOR preierring the
Resolutions TO the Report, we're these
IL difernce. -1be State owed debt
81 lVooUJ dollars. bearing 80 interest If 5 .
per cent. The University If Snah Caro-
hna bad purchased and then held 100000
dollars oi the &4ie bonds given for this
debi, and The Treasurer orthe United States
held tbe renaIalna 300, 900 dollars ID trust
i9r certain lndianinbrs. The Resolutions
proposed 10 settle these Bonds SO a. 20 SION
The payment 81 interest on them. Thus. 20
ras Thy Treasurer Of the Inred States "a n
$500 oa0-and to exchange uith he En,.
versity, B9nk Stock ~ the Bank of lie
State fof which the Safe owned 600 900
dollars, . for the 100000 dollars due the q.
nlrersity.