The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-09-28
From the Raleigh Standard.
NO. estate AFFAIRS.

Mr. Editor Ia my last essay, explained
the measure proposed by Mr. Byrd, aud
pursuing NY subject, proceed 10 sci out ia
detail The other pIaus that were offered Tor
dIsposng of the " Surplus Money"
The oecond pr jet (Which however vas
not proposed to the House Of Commous)
was 10 create Bduk, Ia be wued exc u
slvely BY the State. 1t vas rejected b, a
MAJORITY OF the Senate. | have heard o! no
complaints against this. Let 1t suffice tor
me 10 say, It Is perfectly IN the power Of
the people Ia have Bank created out of
these funds hereafter, # their experience of
such institutions does not make me pubic
esche" them. The action OF the Assembly
OF 1886, has InterpoSed no obstacle to It,
for, as | will demoustrale hereafter as clear
as light itself, that The funds have not been
spent nor gtren array, nor otherwise placed
6eyond the control 81 the people. Inc PEG.
pie may wish 4 hed been fiuus INTO the sea,
It they do make new bank Of It, but It ls
still IN ihelr power 10 do with Il as they
please. And notwithstanding all that may
have been SAID about giving away their mo.
ney 10 Banks, Rail Roads, &c, It Is slIl
under the control of the people, for good or
evil, as their servants shall manage II n ill.,
ture. The only proposition which vas
made Tor giving II away at all, vas Mr..
BNrd's bill, 10 give 1t, not 10 the people them.
selves, but to the couafies-uo not to the
counties even bot To the Magistrates Of the
County Courts! have shewn the lmpol.
icy OF that Bui.
1t will be tlme enough TO shew the im.
Propreiy OF manufacturing Bank out of
these funds, when It sbad be seriously pro.
posed To do 1t. | believe thai late events
have made some warm advocates Of such a
measure last winter, rejoice IN their defeat,
and the discussion of 1t now, would be lonr
and Improbable
The two houses being forced 20 dispose of
this important question, pledged by their
patriotism, and bound by their duty to take
whatever might seem To be the best pl4a {
action, Il speak 1t with pride for our att
they land aside their political hosIhtes,
forgot their party preJudlces, aud Determined
one and dtfto 60 whIthetsoever their ublIga.
tons 10 the STATE would carry them. But
10 fix on that plan, aud to ascertain the best
one, the tive Houses elected a JOINT Cem-
mttee OF 20 Members, TO deliberate. confer
together, and report some definite plan of
procedure.-The pubic have seen their re.
port. II was published 10 the papers ia
every section, and do not repeal lis reason.
lngs, because those who have studied the
subjects are familiar with them.
The plan of that COMMITTEE as reported
TO the House OF Commons was as follows:
LIST. To subscribe half a million of dol.
lars to the Bank OF the State OF North
Carolina, and thereby Increase the capital
OF SAID Bank to two millions
%. To subscribe four hundred Thousand
dollars TO the Bank OF Cape Fear, and in.
crease the capital Of that Bank 10 one and a
half million Of dollars.
81. Foconver, the residue Of the {. SIR
plus slsncy," when received, Ito wit. q.
bout one million of doars,) into an "In.
ternal Improvement Fund" to be loaned
'u' by the Board to corporations or ipdi.
'Iduals, upon satisfactory security, real or
personal, the same beng in North Carolina.
as follows: preference to be gwen IN
making leans, to joint stock companies.
who are engaged IN constructing any work
Tor the means OF internal transportation. but
no comnany to be alloNed 10 borrow more
Than one bali the amount actually subscribed
by solvent subscribers. All loans ct 200.
700 Dollars aud more, 10 bear al Inlsrsu