The North-Carolina standard., 1849-07-25
LETTER FROM GOV. SWAIN.
To tie Hon. John NJ. Morehead, Chairman Of the
E9ecutire COMMITTEE Of the Salisbury Conventions.
o.,.. a. Ood I,na 1910

present. In compIlahce WIN your Iequest' my VIC"
upon of the topics which were discussed in the
Salisbury Convention.
|. Will three millions of dollars, the contempla
ted by the charter be sufficient to construct and equip
the roada I confess that when my attention was
first turned to this inquiry, entertained serious
misgivings upon the subject. l have avaiied myse
of every reliable source Of Information within my
reach and at present entertain no doubts about it.
have travelled five times over the main stem Of
the Georgia Rail Road extending from Augusta tC
Atlanta III miles, with branch from Union POM
to Athens of 80 miles, making the aggregate length
of 2l0 miles.
The distance from Charlotte viG Salisbury and Raj
eigh Godsborough by the road ordinarily travelled
is about the same distance, (2l0 miles) The letter
from Judge King, President OF the Georgia rail- road
which read to the Convention, and copy OF when
/ communicate herewith, is to my mind entirely sat
isfactory. The inquiries submitted to him, have been
proposed to MANY Intelligent persons familiar with
such subjects, and have found no one from Camden
this place who dstrusts the accuracy OF this emil
nently practical statesman.
On nv present journey passed over the first 100
miles from Augusta, in :the night The So miles of
road from the Social Circle to Atlanta constructed
over country more undulating, presenting deeper
ravines more frequent lodges and larger masses OF
rock than will be found in the most difficult section
of our road. happened to find two gentlemen in
the cars native of Guford, the other of Chat
ham, residing at present in Mississippi and Georgia,
both of them much more familiarly acquainted with
the country between Haw River and Raleigh than
difficulties to be encountered east of Haw River
by means so great, as those which have been
overcome on the Georgia Road.
1t is almost Super1uous to remark, that the same
of labor all times be performed for less
money with than here, account of the compare
tive cheepness of wages and provisions, and the
greater salubrity of climate The slaves engaged
in these operations in Georgia at present hired at
an average price of 800 per annum. If then, such
road that described by Judge King, be built
and equipped for $l2,500 per mile in Georgia, that
sum will be found with US. The1ne of rail road
between Raleigh and Goldsborough will more prob
ably exceed than fall short of the distance by the road
ordinarily travelled. Suppose then instead of 2I0 it
proves to be $50 miles in ength-t will be perceived
that we will haye something more than $4,000 per
mile.
The branch road from Kingston to this place, COM
pleed about six months ago, is but l9 miles in length
and cost with all the appurtenances about s., 600 per
mile. The nett profits for the first half year are
equal to four per cent. The President of the compa
ny is a native North Caroinan, a shrewd man,
whom l have known familiarly from my boyhood.
and is one Of many competent persons who have ex-
pressed to the confident belief that the antcipa-
ions of Judge King, under udicious mana cement, will
osseS, were commtteon all the roads in this State,
n the infancy of the sy stem, which experience will
enable US to avoid In the construction OF the Raleigh
Ind CASTOR, and Wilmington and Raleigh rail roads,
We have purchased some knowledge at a high price,
md yet our bunders were of small moment compared
With Georgia and South Carolina errors. The former
ndeavored to escape from her perplexites by sus-4
'ending all operations in her great work-the West
rn and Atlantic rail road-and directing it to be sold
o the best bidder, price less than million
# dollars. Fortunately for her best interests no pur
haser could be obtained, and after the embankments
lad been greatly injured, bridges burned, and super
tructures decayed, her Legislature induced to |
inter with Increased energy upon her great enterpze
'he has now about 600 miles of road In successful |
peraon, her scrip is at par, her rail road stock is
generally at premium, she has one of the best de-
ised systems of Internal Improvements in the Union,
nd 1t not so already, promises at distant day
e the most magnificent Of the Southern States.
In December, 1887, the Georgia rail road termin-
ted at Greensborough, 80 miles from Augusta. The
Western and Atlantic road beg ing in the wilder
ess at what is now the fourishing town of Allan
/, % miles beyond Greensborough, was graded nearly
D the Tennessee line. l travelled in the cars to
reensborough, and in stages along the proposed line
road to Cassville. Icame to the conclusion at the
lose of my Journey that majority of the people in
torth Western Georgia not merely believed that the
BAD never would or could be completed, but were
nxious for the immediate abandonment of an i'm
racticabe and visionary scheme. The expression
opinions of this character was by means CON-
ned to the ignorant, but heard from the lips of
entlemen of high reputation. The possibility of
onstructng the road with any means at the command
Georgia was not only denied, but it was gravely
SISTED that no such improvement was necesaIy-I
lat IT the road were completed, the country would
found to produce for expectation nothing but sap
les and feathers.'' |
In my subsequent visits, / perceived, as the road
ivanced, the tribe of croakers retired. The entire
zee has now ceased to exist! On my present Jour
ey, have found one, who would not resent as
imputaton of defective intelligence or patriotism,
suggestion that he had at any time or under any
rcumstances, opposed this great scheme of State
olicy.
The day may not be far distant when the derided
ockholders in present rail roads may be regar-
ed as successful pioneers in a noble system of i'm
rovements.- How such result may be produced l
ay attempt to show hereafter North Carolina, like
eorga, has made an Intellectual effort to sell out
neither she will further emulate the example of her
nergetc sister, and work OUT is to be determined
2. Taking it for granted that three millions will 1
ample fund to construct and equip the road the
ore difficult enquiry remains to be answered-how I
IN that three millions be obtained ?
In the first place, million of dollars in the stock
the company must be subscribed by individuals +
ork to the value of half this be done and a
en they authorized to call for subscription of
20 millions the part of the State. The State is
en- to pay her subscription Pari passW with the in
vidua stockholders, the work progresses, in her
vn six per cent bonds. which she will permit to
sold for less than par. q
Can these State bonds be EXCHANGED for cash at d
IT? If we were compelled to throw the whole c
Mount at once upon the domestic market, rely
upon foreign market, success would be
ore than doubtful. 1t is very desirable if possible,
absorb this public debt generally among ourselves
ID this think may be accomplished to very great
iten In two ways. First, many of the contractors il
i'll be able and willing to retain considerable por-
on of their receipts in this permanent and for that
ason desirable, species of investment. Secondly G
still larger amount may find it's way into the hands e
trustees, constituting for them the safest and Il
ost convenient species of investment. 8
In England, government stocks are considered by O
q Courts safer than individual securities, and Of
urSe trustees seek anXouslv for onno-tu nites t