The North-Carolina standard., 1842-11-30
fund to such purpose as your wisdom may sug-

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gest
The Raleigh and Castor Railroad Company
avaied themselves of the Act of the last Session,
entiled-"An Act to secure the State against any
and every liability, incurred for the Raleigh and
| Castor Railroad Company, and for the relief of
the same, by accepting the benefit of the Act,
and giving the Executive notice of the acceptance
within the time therein prescribed. The Deed of
Mortgage, and Deed of Pledge, required by said
Act have been duly executed and registered, and
Bonds to the amount of S5O0000, conditioned as
required, have been executed and delivered to the
Treasurer, signed by obligors whom believed
at the time, to be able TO pay and satisfy said
Bonds The Treasurer endorsed 100000 of the
Bonds of said Company, as directed by said Act
to do and delivered them to the Company and
having heretofore, under Il former Act endorsed
S50o,00O the State stands responsible for the Com
pany, now, to the amount of 100000. AS YET,
[ am not aware that the Treasurer has been re-
quired to pay any thing for any responsibility,
Cured by the State for this Corporation,
At the same Session, an Act, somewhat similar,
entitled, can, Act for the relief of the Whining
ton and Raleigh Railroad Company was pass
ed That Company availed itself of the benefit of
the Act, by fully complying with its require
mens, in giving the security, and their Bonds, to
the amount of 100000, have been endorsed by
the Treasurer as by said Act he was directed to
do am not aware that any demand has been
made upon the Treasury for any liability incur
red for this Company; and informed that
the Company has discharged $4,000 Of said
bonds, as required by the Act Besides the inter-
est, which the State should feel, from pride and
from utility, in the success of these two noble en-
terprses there is an additional interest," which in
vites your serious attention. For the first of these
Roads, we have seen that the State is bound as Sc
! curity for $780, 000-for the latter, she is bound
as security now for S25O.O0O, besides being
Stakeholder in the same to the amount of $780,
! 900. The first, and most important consideration
then, is-How the Roads can be enabled to meet
their liabilities, and thereby secure the State
The embarrassment of the country has been, for
some time past, and is likely to be for some time
to come, extraordinary, that travel, the most
profitable source of revenue to Railroads, has de
creased exceedingly, and the productions of indus
try are SO low, and the profits of merchandise so
reduced, that the income from heavy transporta-
ton has greatly diminished No doubt is enter
tained but that both Roads would speedily extri-
cate themselves from debt, and make their stock
profitable, could they have full employment
Any act of Legislation, that aid them, in pro-
curing additional employment, without mourning
additional responsibility the pant of the State
will certainly be wise and prudent.
1t is more than probable that application will
be made to charter Company to construct
I Railroad from some point on the Raleigh and
Castor Railroad, to Weldon, the point where the
Portsmouth and Roanoke, and Wilmington and
Raleigh Railroads meet; thus connecting, by
continuous Railroad, our seat of Government with
our own excellent Port of Wilmington, on the one
| hand, and with one of the best ports in the
world, on the other No valid objection to grant
| ing this charter is perceived while there is much
to sustain its propriety. The distance is short,
some fifteen miles, the ground is favorable, and
the usual expense of Depots and Cars can be dis
pensed with, by the of those belonging to the
Roads, so greatly interested in this connection
! Besides the advantage of transferring heavy
ticles and such as are inconvenont to handle, di-
rectly from the Vessels to Cars, that will deliver
them in Raleigh, and rice rersG, it will cheaper
and quicken transportation, by competition, shor
ten the route by Railroad to Wilmington, and
I give US the means of offering products in the
rival markets of Petersburg, Norfolk, and Will
mington, within few hours after leaving the City
of Raleigh.
The next inquiry is, by what means the vast
productions of the fertile West can be made to
travel Eastward, and reap the advantages of these
Railroad facilities. From personal observation,
have found the Roads, leading from Raleigh
Westward, for the distance of fifty or sixty miles,
and those passing over similar Geological forma-
tions, which range from Northeast to South
West, across the whole State, separating the rich
valley of the Yadkin from Fayetteville, decidedly
the worst in the State. Thus, we find the produc-
| lions OF TINS range, ONen seeking market ITuCn
more distant than our own, because more easy of
access; the towns of Cheraw, Camden Columbia,
and in the far West, Augusta and Charleston, are
much more amiliafly known than even Fayette
vile or Raleigh; much less, those Towns farther
Eastward and this grows out of the impractical
bilhy in a great degree of passing over our
Roads with heavy burdens, at that season ofthe
:, year, most convenient to take products to
: market The remedy for these evils is believed
to be in good Turnpiles more
within our MEANS and therefore more likely TO be
made and answering every desirable purpose. /
therefore recommend, that a Charter be granted,
to make Turnpike Road, from the City of Ra-
| leigh, to some point Westward, selected with
view to its ultimate continuance to the extreme
West requiring the Corporation to commence op-
erations at Raleigh, and to finish specified sections
ofthe Road, within specified periods, and making
it forfeit its charter as to all that part fthe con-
templated Road which is not finished within the
time prescribed, but granting the privilege to
charge Tolls on all such parts as are completed,
having due regard to the citizens of the counties
through which the Road may pass, so that they
shall not be harassed by unnecessary exactions on
those parts of the Road, lying in the Counties
where they reside. Such a Charter would hold