The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1848-12-08

Cnafief 10 lend 10 The Stale, at any lime
when called for, an amour, not exceeding
sl50,o 900 and no stipulation is made as TO
the time Of payment. The residue there
fore oil Sl6G. 500, is the only portion Of the
liability, having Fixed and early day, for its
liquidation. To meet the interest on the
three descriptions Of debt, and the principal
as II may become due, of that las, referred
TO, recommend, that when the means in
the Treasury are insuti :lent for these enls,
the Treasurer be authorized 10 issue State
BondsredeeDable IN Ten years, 20 an amount
equa! to the deficiency. II is also worthy
oi your attentive inquiry, ateiher like
bonds should no. be al once issued in lieu Of
The debt OF 500 600 due the BANK Of Cape
Fear. To the State il ia matter Of ndif
terence, whether she shall have the loan
from the Biuk or from other caplislsts.-
Dui 10 community where Baking capital
I IL limited aud with the ffeesi use Ct their
means, The Banks can dflrd no greater &C.
comnoda,lon, than is required for The dc.
/ mands {. business, i, is a serious prI,aiIon
10 commercial men to be without the facll.
tee, hich would be furnished By the loan
Of this amount among them.
The advantage OF ullod ing the new loan
a considerable ume 10 run, Gay ten years.
is that i. would ensure It's being taken in
media.ely at par ii no. at premium. Ii
IS however contrary TO all true principles Of
! Finance, 10 contract a loan without also
| providing not only for the interest, but for
the gradual redemption of the PRINCIPAL
II the foregoing Suggestions be adopted,
they will consolidate the Bank debt, end
the residue of the smaller deb, on account
Of the Railroad IN loan Of $3.50, 500, re-
deemable in ten years. And If the present
Legislature shall prov de for the exlIngush.
men! OF this amount OF the public obliga.
tons within that period, and the punclual
payment OF interest on the whole, they will
have accomplished as much ns may DC a,
present neediui, leaving to their successors,
the adoption Of measures for the repay.
men, of the debt $4,000 " at any time
after the | :. day oil January, 1860" as orr
gnally stipulated. This arrangement viii
require sinking fund Of abou, S2j 600 an.
nually for the redemption OF the principal,
besides abou, SAB 900, for interest. The
latter sum, however, will gradually fall TO
$50 coo as the debt is diminished. In
other words, il will require $4,000 or
,hereabou's 10 be annually applied to the
pubic debt, over and above the ordinary
expenses o.. cyctnmen,. nov averaging a
bou. a like sum, making the whole amour
wanted for each year sl40 600.
III t,at Il I'll n
already referred to, our Revenue 81 stem
was reviewed with reference TO the demands
on the Treasury and Oh argument was sub
mitted 10 demonstrate, that the State an.
uuaIly los, seven or eight thousand dollars,
from failures to enlist lands for taxation,
whereby they have escaped their contingent
entirely, or from under valuation, by means
Of which, il bad been avoided IN part and
that probably an equal cum was los, IN the
Poll tax from o like criminal negligence,
IN rendering lists OF taxable persons. Ac.
cordugly the Act Of the last Session direct.
cd new ssts.mcni, aud more vIglant
supervision OF the enlistment Of lands.-
The result has been, that the land Revenue
of lSi7, collected under the new Law, has
! exceeded tia, of lc46, under The DID, by
: The sum Of IS GIL o.. A table attached
10 the Repor. OF the public Treasurer will
, show tina, the total number oil acres taxed
, in 1916 was % sos ,559, and that in lS47
. i, rose to "a. 359, 075, aud tina, the aggre.
J gate valuation of land and town property
~ ls46 was sos, 25i Il o., and that IN lSi7
; il grew TO S66 430 sol. With these ma,
teria additions IN quantity and valuation
The amoun, Of taxes received from real es
2 tate, IS yet lower by two or three thousanC
dollars, than oush, TO be obtained al the
present ra,e. There has been, also, an IN
crease in The year oil Sl56l IS in The pol
: tax. 1t appears now 10 be collected OF
9 lib ll9 persons, against 100 BIZ N th'
: previous year. am yet satisfied, hcweV
G er, from the statistics embodied IN my tor
If mer message, that even this number fall
short, by a, least 90 000 of the whole tax
r able population Of The State. 1t therefor
. will call for your investigation, why val
c uation on land of S66 ,430, S2l at SIX cents
e on the one hundred dollarsvaluc, yields onl,
b 1919 81, and Why, out Of al least 1873,
G 900 taxable polls in the State, more thai
D 30 900 yet escape taxation altogether
# The important addition to The revenue o.
= real property and polls of near 81 800 b.
IS reason OF tho measures adopted at tho las
}. Session, has been the product OF no ne'
e imposition on our constituents, but the mer
9 consequence Of a fair and equa! contribute
d TO those formerly existing. BY sill
;. closer scrutiny of the subject, especially i
IS tho department of the poll tax, apprehen
re tina, plan may be devised TO obtain s,i
81 further incremen, OF five or six thousan
/. dollars, from the same sources at ealslln
e rates.
.. But with all the aid derivabe from sue
y measures, the Treasury will need addition
20 al means TO reduce our liabilities as pre-
le posed above. The Revenue collected, th
'e presen, year, from all sources, amounts
S. SOC, 60469 BY correcting the Difference
I'd Just now exposed, it may be raised to e'
e. coed 500, 600, leaving a deficit of abo'
D, SAC, 900 to be supplied from other resource