The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-12-03

HmlfA Raslue &enrrL fftsA F1N
m.S~ a. ,ass she -lAe banks 4 the e"an
n hssh-r eraasi. snd capable OF
,r- ..Iid and ssefsl Psrpsses. OF ase
,hl,.ssrna .af asliaaal bsnk. wouih
-.,,e~6sRy reeamm~ad she Increase q
a. e.rli.l af lks hanks e lhs S'sie sna
f.sr Fr.r. $50 m,lliaa II d'alaf' sssn.
IA .h.l shs state hasd over a. lhein
-oa.lly. a. hrs sahSrsplion af s'ock. ~
.hs Cherokee hsnds. and abe b.'nds and
SO. h-lansiag % Ihe boards al The l'lers.
- l.sd al Narsh Gardens. and internal
-,nnsssrnenI.. eanvsT'ible - eallreisd.
wi'h such other fands - esa he spared
froa alhsr pUrp..~rs: provided she hanks
.M ia.a % The wimingtan and R.leigh.
al Raleigh and CASTOR Raj Road Gem
one. 100000 10 100000. On The
bud. IL slid companies. guaranteed By
the state. on Ihe property Of which eam-
Pan,es lbs state heing already seenrei BY
msne.se. Al rate Of in,eres, moi exceed
sns O per eenl per annnm. f,sr the perlnd
af aea years. aaless these companies are
ens..ej sesaer g pay the sane.
The higher the grannds sPan whirh
she sa,e can place these hanks. BY pro.
secusn aud strict Supervision. ll'e msrr
she wiIl inspire public confidence. Oil Ihr
subsenpuon. and ensble Ihem The so"ner
20 resume specie paymen's snd extend
their u.elslaess. For the recommends.
sion Of increasing The capital II our banks
and requiring sheir All 20 lhe rail roads.
I xosA endessor bneay 20 assign you
my reasons
And slthnugh I have the pleasure 81
coagraIuI.iine yau on The eamPle,ian oil
TWO rail roads IN our slate. which. far
chespsess. length and raP'diiy II eonslruc-
zion, are comparable 90 say 10 The world;
yetn /. attended with the regret Of having
% infarm you that their cost and ezra
expeases have exceeded their means. In
shot sicy are 10 debt. and turn to van
for assislaace. zoe there is no 0lher source
~keaee they can and should 50 rIghtinliy
seek II. No doubt they DO so with re-
lactanee. yet this but psoses The urgency
0f their necessities.
Whatever reports may be made now
by their officers ol The prospects Of profits
a. the siockhoIders. The advantages 10 the
slsie. 10 the farmer, the l,nd holder near
then. 10 the mechanics and lahnrers, and
their great stiliiy for the d,ffasinn of
kns slrdse and lor The concentration of
troops ia cases OF emergeney. cannot
Bos be questioned. Their DIES inies seem
nov more or les Identified with the
rhsrscer and prosperity Of The stale.
Many palrinlic persons have nobly put
sheir shoulders 10 The wheels. invested
ssleis oaney in The stocks Of these works.
a..d will for some time receive less com |
pensallon than they might have done by |
o'her investments. II a Few mon,hs ope-
Eaiian of = rail road had given evidence
sf great profit and the road needed an
mediate assistance. would IL be'the policy
Of the state 10 withhold ~ should saw
ass. Then how much more the neeessily
&c exesaag this policy in er.n,ing assist
ance 10 establish these roads on such
footing TIA, they may freely aud fully test
their utility. ..--.- 49,.
The advantage from such inprose-
snenls. 70 The state. are Of higher and lof.
sier importance Than can possibly accrue
90 her from any pecuni.ry profits. which
her investment c,uld yield. She 10 above
all risk. But the Stockholders can derive
ar receive no other advantages but those
arising from dividends. and while these
are desoled To The payment Of debt, and
yielding no remuneration, cannot reason
ably be expected 10 enlarge their invest.
mrns.
lie generally admitted, an | believe.
eanhpt be denied, lha. one half al lesss
II The travel has been arrested BY the dis
astrnus times brought upon she country.
as ] have en,leasorei TO show, By the
aes u de federal government. We
mar trust that more prosperous times
VII, ere long. be resIored, and travel re.
sumed. .-.....
Os The " let as alone" principle, The
Seeuperssive powers Of this new country
~"uId soon restore prosperity. But We
msy expect in addiiinn. the hearty co.
opsrssiaa OF the fostering power Of the
kCuCtNt ohAuEbk 9Sso'
the highest stale uf national prosperity.
rather assisting and relieving. than dis
6essing al the in.iitutions Of the caun
Try. As The country becomes more
thiekiy seItlei. travel must increase son
che roads and enhance the income in pro-
p,rIinn. 10 proof of this, | nave seen no
rrpon 81 the operations u rail roads in
this country or Europe. which does not
ebow 90 increase Of receipts: and their
opefssisas 10 our country will yield q
gres'er increase on account uf our jispo-
siiion for travel.
!, ~ould be idle. gentleman. to talk to
you reIsuye 10 she msny advantages re
suIt'ng 80 The country from The establish.
ssens Of raj sroads. They have ceased
TO be experiments. Their facility in ex-
pedition afforded TO travellers, ia connec
'0n wHh. steam boats aud steam ships,
will ensure their construction where ne
current OF Trade and travel require.
They may be subject 80 mutations in pro-