North Carolina standard., 1850-11-02
For the North Carolina Standard.
TO JAMES b. SHEPARD, ESQ.
NO. 2.


the truth Of which by the people Of North Carolina
has been most trumphantly sustained in the recent
elections for Governor and Legislature.
The subject Of the State debt and consequent lia-
bility Of the people is always interesting and
important. Now that the Legislature is about TO as
assemble it well becomes that intelligent body to as
certain the exact amount Of the States liability, real
as we'll prospective, and see what at her
command to extinguish this liability; to create
sinking fund which can be set apart to meet these
debts without resort to the ruinous taxation OF the
people. $50
In all her investments in funds and stock the Stafe
has been most unfortunate. Other States that have
embarked in the schemes of Internal improvements,
have received some dividends from the stocks, and
thus been enabled better TO pay off these debts But
with few exceptions, this has not been the in
North Carolina. 49,
The time has come that the State must meet this
question fairly and fearlessy, and in no partizan sp
| rit but as statesmen and patriots: It is use
to pronounce euIogies on the State and gorify the
cause of internal improvement. hefacts and figures
are composed of stubborn stuff, and not to be thus
affected. States. like individuals, may pay too much
for the glory of internal Improvements. Rev. Sid
ney Smith tells what England has paid for glory,
and what the. blessings of taxation
" We can tell Jonathan the Consequence of being
too fond of glory: Taxes upon every article which
enters into the mouth, the back, is placed
under foot-taxes upon every thing that is pleasant
to hear feel, smell or taste Taxes upon warmth,
! light and locomoon. Taxes upon every thing
earth, and water under the EARTH Taxes upon every
thing that comes from abroad, or is grown at home
Taxes upon sauce that nourshes the infant, and the
coffin that encloses old age. The Englishman mounts
his taxed horse, with taxed bride when in health;
when scks pours out medicine for which he is taxed
t50 per cent into spoon that has paid Is per cents
throws himself on his chintz bed for which he has
paid 25 per cent, expires in the arms of an apothe
cary, who has paid for license of 100 pounds
for the privilege of putting him to DEATH His whole
estate is thus taxed from to 10 per cent. Besides
probate large fees are demanded for burying him in
the Church, bis name is recorded on taxed marble,
and he is then gathered to his fathers to be taxed
more. - (See Sidney Smiths works. page 140)
This picture may be strong ly drawn. but it is
to the life. Let Us avoid a similar condition; and
the present Legislature, elected for the purpose of
public good, should create some rampant which may
stop this deluge of expenditure, by which our State
may be reduced 10 the condition of Pennsylvania in
'9s, Mississippi in later times. 1t is due to the
people and to poserity create constitutional
barrier the of the States faith and credit to
porations and individuals. Let profit by the wis.,
dom and examples of other States, The State of
New York has acted upon this subject.
Notwithstanding the great of that State,
and the large revenues annually derived from her
nails, the last Convention of New York. acting
doubt in obedience to the popular will on the subject,
wisely inserted in the Constitution such Limitations
will safety against overshadowing public
debt, well as Puncsually meet the interest and
gradually exnguish the principal of that which had
been created prior to the adoption of the present form
of government. la compliance with the Constitution
of New York, one million, three hundred thousand
dollars, (beng part of the nett revenues of her canals
annually applied to the payment of the interest
and part of the canal debt and after the year 1885,
one million seven hundred thousand dollars re-
quired to be applied to that purpose. The Legisla-
ure is authorized to borrow money to repe invasion
suppress insurrecton, and the Legislature may,
to casual deficits failures in revenues or for
expenses not provided for contract debts but such
debts, direct and contingent, singly in the aggre
gate, shall not any time exceed million of dol
lars" Except for the foregoing objects, debt can
be contracted, unless such debt shall be authorized
by law, for some single work object, to be dis
nctly specified therein; and such ntr shall impose
and Proride for the collection Of direct annual TAG to
pay and sufficient to pay the interest Of such debt IL
falls due, and also to pay and discharge the principal
of such debt ,citn eight years from the time of the
contracting thereof N0 such ia,r shall take effect u,-
I'll shGA al general election. haze been submiLed TO
the people, and haUe received majority Of all The
cast for and against II, at such elecfion.'
The Constitution of Rhode Island ordains that,
g the General Assembly shall have no power, here
incur State debts toan amount exceeding fifty thousand
dollars, except in time of war; in of insurec
ton invasion; shall they in any case, without
such consent, pledge the faith Of the State for the
payment Of the obligations Of others.' The assent
of two-thirds of the members of the General Assem-
bly, is required every bill approprating the pub
lie money property for local private purposes
The Constitution of New Jersey contains the fol-
lowing provision:
'sThe Legislature shall not, in any manner create
any debt debts, liability liabilities Of the State
which shall singy or in the aggregate with any pre-
viOus debts liabilities at any time exceed hun
dred thousand dollars except for purposes of war,
to repel nvasion or to suppress nsurrection un-
less the shall be authorized by law, for some
single object work. to be distinctly specified there
in; which law shall provide the ways and means,
exclusive of oans pay the interest of each debt or
liability it falls due, and also, pay and discharge
the principle of such debt liability within thrty-
five years from the time of the contracting thereof,
and shall be rrepealabe until such debt or liability
and the interest thereon, fully paid and discharg-
ed, and such law shall take effect until it SHALL
general election, have been submitted to the peo-
pie, and have received the sanction of majority of
all the votes cast for and against it such election
and all money to be raised by the authority of such
law shall be applied only the specific object stated
therein and to the payment of the debt thereby
ted.'
The Constitution of New Jersey also contains the
following provision, inserted probably with the view
of coHnteracting the modern practice known bv the
significant term of 'log-roling:''
ITO avoid improper influences which may result
from inter1lixing in and the such things
have no proper relation to each other, every law
shall embrace but one object and that shall be ex-
pressed in the title.'
The Constitution of Louisiana provides that, sThe
aggregate amount Of debts hereafter contracted by the
Legislature shall never exceed the sum of one hum
dred thousand dollars, except in the case of war; to
rePel invasion or suppress nsurEection unless the
same be authorized 6y some law, for single OBJ
ect or work, to be distinctly specified therein aohich
GW shall Proride rays and MEANS by k1raio, for the
payment Of running interest during the whole time
for which said debt shall be contracted, and for the
full and puncual discharge at maturity of the capital
borrowed; and said law shall be irrepealable until
principal and interest are fully paid and discharged,
and sh0H not be put into erecu01 until after its enact
n7ent bg The first ref,r,,e{ h, o.-J ~.