North Carolina standard., 1851-05-21

feel every confidence in stating that the above sum
full and sufficient cover all expenditures tor the
items therein embraced and every thing is included
except the locomotives and coaches and the shops
for renewal and repairs.
The cost of the shop and fixtures may De put down
at $1O0, ,OOO though the whole of this expenditure
will be necessary before the completion OF The
road; it may be spread two or three years after
the road goes into operation.
The number of locomotives and their tra ms depend
Of course entirely the amount of business, and
may be increased as the wants of the company re-
quire. 1t is usual to embrace in the orig lnai es
Inmates and charge to capital more than barely sul-
Client to put the road no operation, and win ncon
siderable additions, carry through and enable II TO
do the business the first year. w it'll this restrc-
tlon submit the following estimate, viz
10 Locomotives, at 1900 $4,000
& PASSENGER cars 1000 $4,000
Baggage and mail cars 900 1000
80 Burtfen cars 600 $4,000
SI39 800
Which added to the preceding sums give
$3,405.l 1872, for the roadway equipment and work.
shops.
No difficulty extraordinary expenditures will be
encountered any portion OF the line In procuring
substantial foundations for the works of art The sol!
on every portion is peculiarly adapted to the orma-
ton of dry and firm road bed timber for sils is
found every where convenient to the line for several
OF the bridges, it will have to be transported con-
siderable distance; with this exception and the scar
city of good building rock at some points, suitable
materials of every kind found every where con-
ven!ent to the line.
In relation to the income of the road have data,
if 1t were my province to do upon which would
be willing to venture even com ecture of the sPecl-
nc amount. But, upon subject of so much I'M
portance to the stockholders it may be expected that
should say something, at least in relation 10 the
prospects and just expectations that may be enter
tdineG by those who have embarked i'll 1t.
This rail road passes through the almost entire
length of the State it embraces in its variety
OF soil and productions not to be toGrd any laii-
road In the country II commences In the rice fields
on the Cape Fear and terminates in the cotton fields
of the ancient and honored county OF Mecklenburg.
traversing its way highly productive Grain, To-
hacco and Cotton growing country. What is def
Client on one part of the line to supply the wants of
man is found another, the raw material on
point will supply the manu- facturers at another, who
In turn Will send out the wrought fabrics 10 the pro-
ducer. The wheat and -four of the West will be
exchanged for the products of the East, and thus
reciprocal, growing and constantly increasing way
trade will spring up, which the history of railroads
shew, is the profitable business indeed, that it
Is the only business that pays. Fhen there is the
terprslng and fourishing town of Wilmington which
may be regarded the eastern terminus of the road,
with her large West India trade and varied commerce.
giving her the ability to supply the wants of the pro-
ducers and creating constant demand for their pro-
duciIons, and the markets Of Virginia thrown open
by the Raleigh and CASTOR Rail Road with their de-
mands and means of supply, all uniting stimulate
industry and production and thus add such amount
of tonnage and business to the road render it al
most unnecessary to look beyond its limits for the
sources of its productveness. But, if we were per-
mitted to look abroad we could with quite as much
pauslbIlIty of argument We see urged every day,
In connection with other schemes, place this also
in communication with Memphis, which seems TO be
regarded by many as point on the great highway to
the Pacific: and we could then without any very great
stretch of the imag nation extend this road Beau
fort, and fancy her safe and har0or crowded
with shipping from all parts of the world. Such
specuatlons would probably not be considered ra-
nrh flr Tho hnn coff fho x,Icson
which fill the minds of the projectors of Rail Roads
possessing nothing like the probabilities of accom-
PIIshment as would seem to attend the very reasona
BILE project of extending the North Carolina Road into
tennessee and down to Beaufort.
And why should not North Carolina accomplish
this enterprise! believe she will. She has already
authorised surveys toascertain the of extending
the road over the mountains and granted charter for
Rail Road to Newbern; both schemes are entirely
feasible and practicable, and will distant day,
have no doubt, be accomplished. They are proba-
bic in theory, and what is probable in theory has in
practice always proved true. But these schemes
IN the future although in my opinion in the certain
future. prefer reasoning from the past and grasping
what is before me- Looking, then, as have said,
to the wide spread demand and to the ability and
pacIy Of the country the immediate borders Of the
road to supply that demand, have fears of the
suit and feel need of travelling beyond the bor-
ders of the State in search of trade and travel to de-
icnstIate the productiveness of the Stock of the
worth Carolina Rail Road. l am, however, not in
different to the income arising from the through bus
ness 1t Of the ceainties of the present which
count largely upon from connection with the
Charlotte and South Carolina Rail Road. Having,
however, in the confined myself 10 the limits
OF the road, and a simple statement of its inhu-
ences in promoting home industry, and thereby adding
to the wealth Of the State, and creating business for
ITSELF have, although entertaining just expectations
not felt myself at liberty to draw heavily from 9th
sources-I prefer leaving that branch of the estimate
to others quite competent to the computation as
myself, to make such additions may suit their
views.
The effects of rail roads every where is to increase
the value of lands. The ratio of increase is depen-
dent upon the fertility of the soil and the remoteness
of the lands from market, and the amount of increase
IS exactly the capitalized sum which the saving in
the transportation upon the annual produce of
the transportation of the produce of an acre of land
is one dollar the value of the land will be increased
$l6,23 the capital which at six per would yield
dollar. My own impression is that the lands on
the line of the North Carolina Rail Road will be in
creased in greater ratio than this universally
acknowledged principle of computation would give,
for the reason that they from cause greatly
underrated especially from Lexington to Charlotte;
the lands this portion of the road which grow Cot
ton we'll as Grain, compared with lands in Virgin
ia similarly situated in reference to markets and which
grow only grain and grass valued at very little
than half the price of the lands in Virginia. |
lands to their proper standard of value and add also
thereto the enhanced value arising from the dminu-
tion in the cost of transportation.
The manufacturing establishments the line of
the work, which now in comparatively feeble |
and declining condition, will receive impulse that
will reward their enterprisng propriesrs, and revive
the dropping hopes of the advocates of home indus