The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1849-01-19

consequence Oh uuy tuuuto W usSo' '"~",
ss becomes The character and interest OF o
the State. Au in,elIigen, people. whilst e
they will examine with care the past pecu. e
mary transactions Of the Sale. are looking ?
With perhaps even deeper interest TO the q
General Assembly, Tor measures which I
shall a, once sustain the public credit, grad- c
ualy diminish our debt, aud SO improve their
condition, as to enable them to bear the in. /,
creased demands Of the Treasury with the
leas, borden or Inconvenience.
8. The authority under which the Ra.
leigh and CASTOR Railroad vas conveyed in
trust, to procure loan Of S25, 900. in or.
der to repair the damage Of the fire in Feb.
ruasy lssi, and to save the Road from to.
tai ruin, is so plainly sc, forth in my former
message, that l an q, some loss how to
cons.rue the inquiry propounded on that
subject. Presumng that it may be in,en !
ded a. . call for the proceedings Of the !
Governor and Council in the matter refer. |,
red to. send herewith printed copy oil
my message to that body, and OF their res. |
oluiion, in response thereto, marked A.
The considerations involved 10 the proceed.
ing are two.fold, namely:
LIST. Whether pow CT to sell absolutely,
includes q power TO make conditional sale
10 raise means for the preservation Of the
property.
2ad. Whether il is the duty Of the Ex-
ecut,ve, by all the means committed TO his
hands, 10 take caro- Of the public property,
=. and p1evens its destruction.
4. The amount, which may be realized
from tbs suits nov pending at the instance
Of the State. against the Stockholders aud
boudsaen Of the Raleigh and Castor Rail.
road Company, will depend, in the frs,
place, upon the decision Of the Court in "a.
YER Of the States recovery against the de.
fsudanis; and il 60, how far such recovery
shalt extend; and in the second, on the q.
bility Of the parties to satisfy such recov.
cries, If obtained. Ny argument in favor
Of her legal right TO recover both the prin.
cipal and the interest. which she has paid
OF shall pay, TO the amour, Of stock held OF
bond given BY each defendant, viii be found
10 my message to the las, General Assem-
bly, among your records, and can add moth
ing new on that point. Some Of these par
ties since their obligations we're contracted
have become insolvent; but how many,
have no means Of judging other than those
which are open 10 the general observation
Of the community. II therefore these suils
shall not be compromised as recommended
by mo heretofore, but shall be prosecuted
to Judgment, the Judiciary only can deter.
mine, how much shall be recovered, against
each person concerned in the great multi.
tude Of defendants, and the process T exc.
culion will ascertain his alb lily to'pay.-
The public interests, meanwhile, are 30 the
hands Of able COUNSEL who will doubtless d.
them justice.
5. The Resolutions are accompanied b,
. preamble, indicating that the iniosmasio
sought by them. is desired in conne1lo
with the plans Of Internal Improvement
which | have heretofore recommended 70
your adoption; and therefore suggest ie'
thoughts, a. TO our proper policy in iha
respect, which | shall be pardoned for ap
pending. To my mind i. is perfectly man
ifesi, that 10 the presen. crisis of cur sff,lrs
the public interests are only to be uphei
BY enlarged and patriotic views oil our du
~, aud manly and energetic action 10 cal
rying them into effect; while !alserlns
contracted policy will Precipi,a.e Us mi
bankruptcy and dishonor. We have no
two Rail Roads, for which the State ha
made, snd is making, The large expenditure
already stated. They are. carrying on bu
mess, from which one receives an lncom
Of about 1925 600, and the other abos
100000, per year. Ba. from inferiofi'
Of the supers.ruc.ure Of both, with thes
large incomes, they afford no profits on u
capital, but consume the whole IN repair
Wi.hou, the aid Of some Legislation, tel
ding 10 better their condition, this will o.
only continue to be the case, but il will pr
baby become worse. The question is the
distinctly presented, whether an effort sha
be made to place these Roads in more I
vorsb!a situation, so as TO enable them
relieve the Treasury from the burdens the
have Trough, upon it, either by the mea
ures already suggested By the Executive,
by others, which your wisdom may devise
or whether they shall continue IN their pr
sent imperiec, state, until other aod riv
works shall be brought into operation
other States. to their injury and TO the
tai loss by North Carolina OF all she b
paid, or may pay. 90 their account. "
are therefore 10 circumstances, when II Y
do not 70 forward ia the career ofimpfov
meni, we mus. 60 backward, and incur u
heard DOT only Of losing, irecoveTab
this large amour, in mossy, but even Il
use Of these Roads entirely. The laii'
would be loss, which perhaps could mol
fully estimated until after lis occurrence.
These works though profiless as s,ock, ha'
yet given advantages to the inhabitants
the sections which they traverse Of shit
they would not willingly be deprived. u
fore the construction Of the Raleigh al
Castor Rail Road. the freight on bush
Of wheat between the county Of Granvil
and Petersburg, was As cents il is now