The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1849-08-17
{ NUMBER AZ.

the individual stockholders. Very differ.
enl has been the effect upon the general ln-
teres, Of the State. The only two assess
mens of lands ever made under the suihor-
ily Of the State Government, will afford da-
Ia for accurate computation and compare
SON.
Under The frs, the aggregate amount Of
} taxes collected for 1897, uas SS0.l30 81
under the second for ls47. S02 939 IL
showing an increase IN leu years OF q per
cent. The tax on lands and town lots al
the former PERIOD amounted TO 1871 .476 ~
--a,ihe latter to S37, $40 90, exhibiting ali
increase Of 81 per cent.
Compare with thus aggregate result
throughou, the State the increased rese.
nue. derived at The corresponding perlnds,
from the Counties traversed by the Will
mingion and Raleigh Rail Road, ss shown
IN the following Table, No. /. 1t will be
perceived that While the aggregate increase
Of revenue from oil sources in the State, has
I, been lG per cent, and from real estate "a
per cent, the Increase Of general revenue
in these Counties has been IN The ratio Of
% per cent, and Gu real estate 80 per
cent.
II mus, be borne in mind tina, this com.
parson, or rather contrast Of general with
sectional prosperity, exhibits The effect pro-
duced by a railroad, paying no dlyidendt
constructed through region over q great
portion of which he genus Of desolalou
held uud,spu'ed empire, and whose supro'
macy, no spirit less daring than that Of
Wilmington enterprise, would have ever
venlured 10 disturb.
The efEec, Of a dividend paying road may
be we'll illustrated, by an example derived
from the extreme West. The Buncombs
+, Turnpike road was opened 10 travellers, in
1877, aud from thu. 10 the present time,
has annually paid dividend of 10 per cent.
la 1876, the aggregate State tax paid by
the county Of Buncombe, was STAG 10, the
land tax $2S9 IL In lei7, the aggregate
tax Of Buncombe, Henderson, and the por-
ton Of Yancy which was part of Buncombs
10 1927, amounted to 81, l32 OF, and the
tax received from real estate to 1885 so.
From these examples in the extreme
Eas, and the extreme West. let US turn for
moment TO the great central counties.
which We now propose 10 penetrate. The
annexed Table No. 2, will show that while
the aggregate taxation Of the State has IN.
creased 10 ten years, in the ratio OF l6, end
of land of II per cent, the counties traver.
sed by the Wilmington and Raleigh Rail-
road in the corresponding ratio OF 20 and
33 per cent, while 10 Buncombe ia the ex.
,reme West, the aggregate value Of taxa.
BILE property has been nearly uebled, aud
s Of real estate nearly qiadrupied 10 ~ years.
The increase in these most wealthy, fertile
and popuous counties between 1887 and
lS47, has been in the aggregate valuation
I, aud in real estate IA per cent.
Rcserviog FOR The psesen; all discussion
in relation to the dividends which may rea.
sonaby be anticipated, venture to sug.
gest some advantages, scarcely secondary
to the increase in the value Of lands that
must accrue to the ptoprie!ors Of lands con.
/ ,iguous to the Road.
The State propose, upon her part. 10 ex.
pend two millions Of dollars 10 the improve.
meDt Of one million of acres OF land, prov.
ded tina, the owners of those acres will in
like manner expend ons million, with this
important difference 10 favor of the latter
The State is TO expeBd money exclusively;
the proptetors are to pay no money be-
yond the five per cent, necessary to secuEe
their subscription for stock in the frs, in-
stance. They are TO contribute labor, Tor
which o, presen, there is no adequate EN-.
ployment !; provisions, for which there 10
at D esenl little demand and materials.
which in some instances have no narketa'
bic value.
4 IL the respective propTietors become con-
tractors, their Contributions may be made
with still greater facility. Ot the three
millions TO be expended, one million will be
ample for the purchase Of every thing that
| is no, produced in the immediate vicinity
, Of the road, viz rail road iron, locomotives.
/ shop furniture, sc. II the respective pro.
/ prietors, then, become the sole contractors,
1 after the purchase of all foreign supplies,
they will receive from the State one dollar
10 cash for each dollar they are required
, to subscribe, supposing that there are no
, other stockholders. purposeiy state the
case in the s,ronges. possible light against
, hem, 10 order to show the more clearly the
r facility with which they may discharge the
} most onerous obligations which it is in their
power TO assume under the charter. BY
. their subscriptions, they bind themselves
! TO pay. in addition to the five per cent. or
F.. $4,000, required to make valid subscrip.
/, ton, the further sum Of $950,000.
5 Ia what manner is this large sum to be
r pa,dl The first and larges. proportion will
9 be discharged by the reasonable profit
n which every contractor anticipates, aud has
Q a right to anticipate, upon his operations.
}. No prudent man will enter into contract
j. which does no, promise to reward bis res
!. possibility. attention, and labor, with nett
e prof, Of l6 2.3 per cent; and bis per cent,
If upon the three millions, amounts to $780,.
II 900, or one half the entire amount Of iudi.
if vidual stock. The remaining $3.50, 00o
;. will be paid. as already indicated. in labor,
il in provisions, in materials, al prices con-
10 siderabIy enhanced by increased demand.