The North-Carolina standard., 1849-07-25

u
miles, or 80 millions of acres. That portion Of this
aggregate surface which has been patented and given
| in for taxation was assessed in 1847 at more than
sixty-six millions of dollars. The average value
therefore Of the entire surface of the State exceeds ~
per The proposed line of road from Goldsoo-
rough to Charlotte passes through the heart OF the
State, and it is confidently believed that belt OF
land eight miles in width and 210 in LENGTH Will ex-
hibt an area of greater average value than any other
tract of equal width, between any two points
equally distant, that be selected in the State
There be difficulty in arriving at the conclu-
sion from these premises, that the average value OF
this belt present exceeds 90 per 1t will be
found to~contain 1850 square miles, or l,O75'2OO
acres. li49t za5 Vtfs U
What'wiH be the effect of the construction of the
road upon the value of the land within the limits sug-
gested2 The experience of our sister States and
especially that of Georgia, is wholly deceptive, if it
does not increase the value more than $l per acre
so that if $3 be the present average value OF the
land, it will exceed 81 when the road shall be COM
pleted. If this be true, the entire stock may be
taken by proprietors of land within four miles,
without reference to dividends and without possl-
bility of loss. well satisfied, that there are
many tracts of land in the Counties OF Rowan, Da-
wilson, and Davie, which might now be purchased
$5 per acre. which if they could be transferred to
the neighborhood Of Georgia or South Carolina
rail road, would readily command $40. The land
cannot be removed but the rail road can be made to
approach the land, and similar effect be produced.
That such must be the result may be demonstrated,
not merely from effects produced elsewhere, but
within our own borders. The Raleigh and Castor
and the Wilmington and Raleigh Rail Roads, have
thus far proved disastrous experiments to the ind-
vdua stockholders. Very different has been the eff
fect upon e-general interests of the State. The
only two assessments of lands ever made under the
authority of the State government, will afford data
for accurate computation and comparison.
Under the first the aggregate amount of taxes col
lected for 1887, was $50, 13O 34-under the second
years of I6 per cent. The tax lands and town
lots at the former period amounted to $3l ,476 72
at the latter to $37,s79 96exhibiting increase of
81 per cent.
Compare with this aggregate result throughout the
State the increased revenue derived at the correspond
ing periods, from the counties traversed by the Will
mington and Raleigh Railroad, as shown in the fol-
lowing Table No. l. 1t will be perceived that while
the aggregate increase of from all in
the State, has been l6 per cent, and from real
II per cent the increase of general revenue in these
counties has been in the ratio of 80 per cent and on
real estate 33 per cent.
1t must be borne in mind that this comparison, or
rather contrast of general with sectional prosperity,
exhibits the effect produced by rail road paying
dividend, constructed through region over great
portion of which the genius of desolation held
disputed empire, and whose supremacy, no spirit less
daring than that of Wilmington enterprize would |
have ever ventured to disturb.
The effect Of dividend paying road may be well
by example derived from the ex-
treme West. The Buncombe Turnpike road was
opened to travellers in 1927 and from that to the
present time has annually paid dividend of 10 per
cent.
In 1926, the aggregate State tax paid by the coun-
" of Buncombe was $746 73-the land tax $28s II.
In 1917, the aggregate tax Of Buncombe, Henderson
and the portion of Yancy which part of Bun
,ombe in 1927, amounted to 81, 1872 o. and the tax
received from real estate to 81 ,036 so.
From these examples in the extreme East and the
extreme West, let US turn for moment to the great
central counties, which now propose penetrate
The annexed Table No. 2, will show that while the
aggregate taxation of the State has increased in ten
ears in the ratio of Is, and of land of 81 per cent?
he counties traversed by the Wilmington and Ra-
eigh Railroad in the corresponding ratio of % and
3 per cent, while in Buncombe in the extreme
Vest, the aggregate value of taxable property has
een nearly trebled, and of real estate nearly quadru
lied In 20 years, the increase in these most veal
ny, fertile and Populous counties between 1887
nd ls47, has been in the aggregate valuation T. and
n real estate IA per cent
Reservng for the present all discussion in relation
the dividends which may reasonably be anticipat-
d, venture to suggest some advantages, scarcely
econdary to the increase in the value of lands that
aust accrue to the propretors of lands contiguous to
he Road.
The State proposes, upon her part, to expend two
billions Of dollars in the improvement of one mil
on of acres Of land, provided the owners of those
cres Will In like manner eXpend one million, with
his important difference in favor of the latter The
tate is expend money exclusively; the propretors
re to pay money beyond the FIVE per cent, neces-
ary to their subscription for stock in the first
astance. They to contribute labor, for which at
resent there is adequate employment; provisions,
'r which there is at present little demand and
'rials, which in some instances have no marketable
aue.
If the respective proprietors become contractors
ler contributions may be made with still greater IA
ty Of the three millions to be expended mill p
will be ample for the purchase of every thing that
not produced in the immediate vicinity of the road
IL rail road iron, locomotives, shop furniture, Be- a
the respective proprietors, then, become the sole
ontractors, after the purchase of all foreign sup
lies, they will receive from the State dollar in
ash for each dollar they required to subscribe, o.
opposing that there other stockholders. W
urposely state the in the strongest possible light
yainst them in order show the clearly the o.
cility with which they may discharge the most is
obligations which it is in their power II
ime under the charter By their subscriptions, they
ind themselves to pay, in addition to the five per
snt or $5O,0O0 required to make valid subscrip a
on, the further sum of $950,0O0. a
In what manner is this large to be paid The m
and largest proportion will be discharged by the II
asonable profit which every contractor anticipates, ~
I'D has right to anticipate, uponhs operations. No
'ndent man will enter into contract which does di
IT promise to reward his responsibility, attention, al
I'd labor with nett profit of l63 per cent and this IN
cent, upon the three millions amounts to $500 00O IN
one-haf the entire amount of individual stock. bl
he remaining $450,00O will be paid as already in nj
cated in labor, in provisions, in Materials prices
enhanced by increased demand, and by
impetus which will be given to all business oper
ions, by the circulation of large of ready mo-
y in community hitherto removed from such facii-
es. There are few individuals, among the thou W
nds Immediately interested who have sufficient ne
tegence to comprehend these obvious suggestions. &C
here is not single intelligent, enerprising man
nong them. who in his would hesitate to an
ntribute in the manner Indicated dollar for ap