The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1841-01-07

dtsOlSs iu iiic ucAt tNp years uluhVs outl
the amount Of 100000. Let US now look
TO the state Of the Literary Fund. ! know
that some gentlemen are remarkably sensi-
tive about this matter, aud express great
apprehension lest our system OF Common
Schools should be ia!ertesed with. tell
such at the onset, that the course ! propose
10 take, so far from diminishing this fund,
will on the contrary benefit il. The entire
capital oil tho literary fund, is s2,l7s,650
81, invested, as | have already shown
The cash derived annually from this CAPT.
isl, is made The duty Of tho board TO invest
from time 10 time SO that i, may not remain
reproductive. They have therefore been
10 the habit Of purchasing, as appears above,
stock 10 banks, railroads, &c. and also of
lending 70 individuals al per cent. inter.
est. OF cash now or hand TO be thus dis
posed Of, there is $4,000 90. In the next
two years, as we have seen, there will be
at leas, S259,52s. Adding to this the cash
nov on hand, We have tho sum of 1887.
$50. Subisacting from it $4,000, the
amount to be paid n the next two years 10
the Common Schools, provided the existing
law continue in force, there remains 1857,
535, to be invested in some mauner. VIVA,
l propose, then, is simply to borrow from
this amount Sl46,000, to make up the
sum appropriated by this bill and tina, the
Cherokee bonds, amounting TO $293,679,
be held 10 pledge Cor the repayment of the
same, With interest. Is there any risk
whatever Of loss, when twice the sum in
good money bonds is 10 hand to meet the
debt whenever il is desirable that i, should
be repaid I! Can you fad better invest.
meni for the cash O. the Literary Fund -
Is IT not far safer than lending /, GU, to in.
dlvidcals at the samo rate OF interest p
Does not q great public work meri, pre-.
ierence even if the securities were equal
1T Is plain, then, sir, that we have ample
means to construct the road.
We havo now, Mr.. Speaker, arrived OF
that point from which We may with pro.
prieiy consider the advantages likely TO re.
suit from this enterprise. The first objec.
ton comes FROM western gentlemen. They
say that turnpike vii! not satisfy the cl!I.
1ens OF the west tina, nothing but rail
road will meet their wishes. To determine
whether there IS much force in this objection,
IT becomes necessary to consider the com.
parative salus Of The different species Of in.
,ernal improvement No one is less dis.
posed than |, to undervalue rail roads; no
one is more DESTROYS that they should exist
in their prope- places. But misappre.
hension exists 10 the minds of some Of our
citizens as to tie extent Of their utility.
They afford the best lines for travel, but
when long, have never been found useful
for the transportation of produce. The
rail roads Of England. as il has been stated
not long since, in The London Quarterly
Review, have been constructed al an aver.
age cost OF nearly 100000 per mile
They are made OF stone and iron, and pass
an some instances under cities. Formed
thus, of the most durable materials, ouce
finished, it costs Ilt;le 10 keep them in re
pair. In :Aat country, one Of the most
densely populated, aud by far the richest 10
the world, there is vast amount of traTel
ling over the roads. Besides, or those be.
tween Londoa and Birmingham, and be
tween liverpool and Manchester, and On
many others, there is transported large
quantity Of manufactured articles, and all
sorts Of merchandise. These, by reason
of their high value, can bear the expense
of this sort Of conveyance. But cannot
learn that on any rail road in England OF
fifty miles in length, agricultural p7oduc.
tons are transported, These roads, not.
wiihstanding their great cost, because cap
iialists are there satisfied With the receipt
of three per cent. &C their investments, are
kept up 10 the manner referred to. Ii be,
ing impossible for Us in America 10 follow
the English fashion, 10 this matter, our
roads have generally been made Of wood,
with small bar OF iron laid on it, al an
average cost Of only $4,000 per mile
From the perishab!e nature Of the materials
tue wooden portion AQs 10 be renewed Of
least once III six years. The expense, there.
fore, Of repairs, together with tia, Of keep.
ing the locomotives 10 molten, SIC. requires
the application Of large sum Of Donsy an.
nually. Though the receipts seem to be
large, yet they are thus principally absorb
ed. Hence none bot, those reads over
which there is much travel pay fair divi
dend. Suppose, sir, we we're to consiruc.
rail road Of the length tina, this bill pro
poses, what would il COS, Assuming il to
require $4,000 per mile, and i, certainly
could Dot be made for less, and taking the
distance to be $50 niles, Eve millions would
be necessary to complete It.
Il may, therefore, be regarded as irn.
practicable. Bot il is said hat il nigh, be
made 10 the Iadkia a, least. A road to
that river would cost above two milbsns-
Suppose it were even nov finished, there
would be bus little travel along ii, and the
transportation Of produce al tue accus;on.
ed rates would neither benefit the farmer
much, nor enable US 10 keep ii up without
loss.
have endeavorsd Nr. Speaker, TO make
comparison of tia cost of transportation
on rail roads, and on some other spacios Of
roads, With the view OF ascer,alning which
is best suited to our couEtry. But hope
no Senator wall take my calculations on
trust Let each one examine tho matter
for himself and correct me If am wrong.