The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-12-01

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to receive the payment; who proceeded 10
Washington for that purpose, but the a.
mount was not then paid, for the reason,
as it was alleged, that the net amount for
distribution had not then been ascertained.
On the 4th November, the acting Seereta-
~ of the United States, informed me that
the accounts had been adjusted, and the
sum Of S22,9l7 81 was found due this
State, of which the Treasurer was inform.
ed, and he forthwith requested the De-
lpautment at Washington to forward him a
Draft for the amount. This Draft is daily
expected. Ii becomes your duty TO apply
this fund to such purpose as your wisdom
may suggest.
The Raleigh and Castor Railroad
Company awaited themselves of the Act
of the last Session, entitled An Act TO
secure the State against any and every
liability, incurred for the Raleigh and
CASTOR Railroad Company, aud for the
relief of the same, by accepting the
benefit of The Act, and giving the Execu-
tive 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
100000, conditioned as required, have
been executed and delivered 10 the Treas
'urer, signed by obligors, whom | believed
at the time, TO be able to pay aud satisfy
said Bonds. The Treasurer endorsed
$500 ,0C0 of the Bonds of said Company,
as directed ly said Act to do, and deliver.
ed them to the Company; and having here
tofore, under a former Act, endorsed $780,.
900, the State stands responsible for the
Company, now, TO the amount Of $780,.
600. As yet, am not aware that the
Treasurer has been required TO pay any
thing for any responsibility, incurred by
the State for this Corporation.
At the same Session, an Act, somewhat
similar, entitled " An Act for the relief Of
the Wilmington and Raleigh Rail.roac
Company, was passed. That Company
ayailed itself Of the benefit of the Act, by
fully complying with its requirements, If
giving the security, and their Bonds, t
the amount Of 100000, have been en-
dorsed by the Treasurer, as by said Act
be was directed to do. | am not aware
that any demand has been made upon The
Treasury, for any liability incurred for
this Company aud am informed that the
Company has discharged $50 ,000 of sale
bonds, as required by the Act. Besides
the interest, which the State should feel
from pride and from utility, in the success
of these two noble enterprises, there is al
additional interest. which invites your Sc
rious attention. For the first of these
Roads, We have seen that the State i,
bound as security for $500, 000-ior The
latter, she is bound as security now, fol
syst, 900, besides being a Stakeholder IL
! the sane to the amount OF 5000, 000.-
i The first, and most important cdnsldera,
ton then, ISL the Roads can be ena
bled 10 meet their liabilities, and thereby
| secure the State. The embar ra ssment o
the country has been, for some time past
and IS likely to be for some time to come
so extraordinary, that travel, the most prof
liable source Of revenue to Railroads, has
decreased exceedingly, and the production,
OF industry are so low, and the profits o
merchandise so reduced, that the income
from heavy transportation has greatly d
minished. No doubt is entertained bu
that both Roads would speedily extrcatc
themselves from debt, ard make theil
stock profitable, could they have full EN-
Ployment. Any act Of legislation, thai
can aid them, in procuring additional en-
ployment, without mourning additional re.
spons,billty on the part of the State, will
certainly be wise and prudent.
1t is more than probable that application
will he made 10 charter a Company to con
struct Railroad from some poinl on til,
Raleigh and Castor Railroad, to Weldon
the polut where the Portsmouth and Roam
oke, and Wilmington and Raleigh Rail
roads meet: thus connecting, by conliu
uous Railroad, our seat Of Governmen
with our own excellent Port Of Whining
Ton, on the one hand, and with one Of the
best seaPotts IN the world on the Other
NO valid objection 10 granting this char.
ter is perceived, while there i much te
sustain rs propfiety. The distance i.
short, some fifteen miles, the ground is IA.
vorablc, and the usual expense of Depots
and Cars can be dispensed with, by the
use of those belonging TO the Roads, 50
greatly interested in this connection. Be.
sides the advantage of transferring heavy
articles and such as are announcement to
handle, directly from the Vessels 10 Cars,
that will deliver them in Raleigh. and
rice rersd, IT will cheaper and quicken
transportation, BY competition, shorten the
route by Railroad to Wilmington, and
give us The means Of offering our produce
IN the rival markets Of Petersburg, Nor.
toik, and Wilmington, 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, aud reap the adj.
yantages Of these Railroad faciltles.-
From personal observation, have found