Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1851-10-31
Capital and Internal improvements.

nor no less.
Capital and Internal Improvements.
Every one who will look at the matter must see
the disadvantages with which Wilmington has long
had to contend arising from large proportion of
her business capital having been locked up in unpro
luctive internal Improvements. The abstraction of
this capital has cramped the operations of her most
energetic citizens and prevented her reapng the full
harvest to which she justly entitled. Yet she has
struggled on and made herself name and repu-
tation far above that usually pertaining to towns of
her size and population; and now that the period ap
proaches, for the completion of the various new
works of internal improvement which are to open
to her new branches of trade she bids fair to receive
large accession to her available capital wherewith
to transact it. We certain as can be of
any future event that by the time the Manchester
road and the Deep River improvement go intof full
operation, the stock of the Wilmington and Raleigh
road will be at par If it, having cost So 76l 60l 95
as appears by the report Of the examining commit
ee has been able to retrieve itself and rise par as
it will do, certainly the Manchester road. equally
long, and which may not reasonably be expected to
cost within million of this amount, cannot fail
to command 500 per share in the market. Stock
command it, and hence we may regard the apprecia-
ton of these stocks as in fact much added to the
dsposable means of the place. With such means at
her command, Wilmington fully avail herself of
her increasing facilities, and much greater and
more substantial progress will be revealed by the
of 1860 than has been shown by that of 1850
The more sanguine among US may look for the COM
pletion of the Manchester Road in little over year.
but if it be finished in all of next year and the year
following, it is much be expected and
perhaps as much as can be done without ma
king too heavy sacrifices. Then it arW be done and
done properly. Of course portions will be put in
operation before that time. Some fourteen miles on
the other end will be in running order this month,
and believe in practical operation, but allude
to its final completion.
The true way to arrive at the cost of any river i'm
provemen is to multiply the engineers estimate by
! % This rule will apply to the Deep River and
Cape Fear Navigation, and if be done for that
it will be the cheapest highway of the kind in the
United States We believe that the capital of the
Cape Fear and Deep River Navigation Company is
100000. We will venture to say that before free
and unobstructed communication, open at all time
of the year, can be established between Wilmington
least fue hundred thousand dollars will have to be ex
pended in various ways upon the work; and if th'
coal and iron deposites be but one-haf what the,
are represented it will then be the cheapest, and
by means of this business, most profitable work il
the world, to say nothing of the other business in tn
f way of agricultural produce and merchandise.
D9g@We are indebted to the poll teness of the Ed
g tor of the Raleigh Standard for copy of the AID
dress delivered before the Two Literary Societies
the University of North Carolina, June 4th, 1851,
g w. w. Avery, Esq" we have barely had time t
glance through its pages, which contain urgent ar
peals to the State pride and energy of the rising gen
Grafton, to rescue the {" old North State " from tn
torpor and apathy into which she has fallen. Draw
picture of the backwardness of the State in mani
, features, in improvements and commerce, and pay
- tribute to the energy and enterprise of Whining
=. ton, in the following terms
" Where the ourshing Cities doting extended
boardmarts for the of the world and reectir
the worlds intelligence to the interior Let the struggl
of the spirited citizens of single town. whose noble and
y efforts should be rewarded for least with ha
the trade that floats upon the ocean, the question
The production as might have been expected fro
the reputation and talents of the orator is chara
terised by eloquence and ability.