The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1849-09-05
Oh the Income Of the North Carolina
RailrOad


To Cor. J. n. MeNkaKADs
ck.--sss affss Ea1ztfss csansssE
DKAR SIN: Since my return from Sails
hurry. | base iell deep interest m me sue
cess Of he Central Rai Read. and am
much pleased u learn 81 The papers, mai
Won are oui in yOur siTengih n The cause.
Cos. Swans letters are vel ealeulal-
el 10 snlighicn he people on The snbleei
Of lhis important improvement, but ! think
Ne has under-ssiimaiel The additional "
Inc such a work is ealcllaied 10 confer
upon The lands through which 4 would
pass. Bat on This subject, ] am Al loss
how 10 limit my own estimation. u We
look 10 Massachusetts. she has eel bright
example n The way of constructing Roads |
Tor tie benefit Of her own cilizens. without
regard Ia Ire accommodation al those VINO
have no interest in her prosperity. Our
mistake has been. The attempt 10 benehi
those Who have no interest IN The Stale
We have been carried away by The lgnl'
fs,uus OF through travel. say, i we
look 10 Massachusetts, 10 zee tie value g.
ven 10 her landed property. by the con-
.uurlion Of Rail Roads. and adopt il as a
basis upon which 10 construct our esil-
mates. il will look 50 much like ".all
lalk." that our people would think we
were humbngging. Il Is therefore ditil-
sull 10 say what limit should be adopted.
The estimate Of the increased value Of
lands on some &c the Roads in Massachn-
sets exceeds 800 per acre. and that TOO
on lands inferior 10 those ~ Western
North Carolina. Now il we were 10 base
an estimate upon one half that sum. u
would be looked upon as wild and extra.
,aeant VET am al los. TO understand
why Ike causes should moi produce like
effects. II lhel North Carolina Road
should Be constructed. cannot see any
cause why Towns and Villages should
moi spriDg up ii every depot along lis
line. Our people are industrious and pru.
dent; lei bui door be opened for them
TO dispose Of the surplus produce Of The
farm, the loom and the shop, and depend
upon IT. they would soon be thriving
people, and the homestead would be look
ed upon as being equally valuable with
any lands in any State Of our Union.
| therefore do not hesitate in saying that
the State al large and her citizens would
ba gainefs by The construction OF this
Road. il il never paid the first cent Of dl-
vldend. But, sir, | am not prepared 10
admit that The stock Of this Road would
moi be paying stock. On The contrary, ]
think il can be proved. from fair differences,
that il will not only be paying stock, but
would prove 10 be valuable Investment
of capllal. We must not Judge OF The
stock from the failures that have hereto
fore taken place in our Stale. The reason
ofthese failures are too palpabie TO be mis-.
taken, by persons versed in the expenses
of maintainance OF Rail Roads. These
Roads were constructed Of too frail and
perishable materials; this ia an error
which can, and certainly will be avoided.
No one acquainted with the practical Ell
f,cu on Rail Roads can be found 10 re
commend the light strap iron, such al
heretofore used in the construction Of on
Roads. We mus, not therefore draw con
illusions from the enormous expenses al
tending lie working Of these Roads.
To arrive at anything like an esilmat
OF the value Of stock in the North Carroll
ma Road. il is necessary either 10 know
how much produce and merchandlz
would be transported on il. and the nun
Der OF passengers or, else. we must ORA,
conclusions from the income on o,he
works similarly situated. From the hrs
source, il is difficult 10 draw our conclu
sions, because, in our State, 50 ll,lle a,ten
lion has been paid 10 statistics, that "
have no certain data upon which TO foun
such estimates. will take the liberty
submitting The conclusions TO which has
arrived by comparison with other Roads
will therefore simply refer you TO n
Wilmington and Raleigh Rail Road, an
tile Charleston and Hamburg. | might
40 instance tho Georgia Rail Roads, ;
they very fully sustain the concluslot
here arrived at, but il might be deemed
dlous 10 multiply prools.) In the ye
ls44, the receipts from way passenge
from the Counties along the line OF u
Wilmington Road, amounted 10 a 81
equal to 81 SO each, for The white popnl
lion in these counties. The South Car
lima Road received from similar sourC
81 so each, and lie Georgia Road . =
Erhe difference in favor of the South {
rollna Road may be accounted for from
fact that il has large City at each L
minus.
T. With these facts, as TO passengers, 7
fore us, let us compare with Count
through and near which the North Cal
lima Road will pass, and see what the
tuls will be: The Counties and III,
white population, are
Johnston 6996
Wake l2ll3
Chat'm lO609
Orange 1871
Guild 1891
Dayid'n 1887
Rowan s6i6
Iredell 1880
Meckrg 1850
Lincoln 1868
,ocaI,ieoc ooh 5000. 033