Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1853-02-26
NORTH CAROLINA

more readily can professional financiers deal witt
the representatives of that indebtedness. The SAM
anomaly appears with respect to notes and bill
% which on the face bear the stamp of Legitimate
business The more house has its paper clrcu
lated the greater will be the facility with which II
ordinary times it will be cashed provided the ele
ments of punctuality and promptness have not beef
wanting in previous transactions. On the Londol
Stock Exchange = loan of five millions for de-
fauIting quasi Bankrupt Kingdom, has create
probability of exciting eager jobbers to worry the
successful contractors for slice, than loan fol
one-ffth of that amount demanded for nation
teerabIy free from debt, and whose securities arc
consequently unknown to the mass of capitalists
Wall street practices the same system Bonds and
Shares-Notes and Drafts are bought and sold
without any clear definite knowledge by the
brokers of the intrinsic value of the security the
resources of the makers. The makers kno,cn i
e. their engagements on paper have been often
seen and therefore they are current. 1t is this
method that enables the large companies to go on
Increasingly adding to their obligations in the shape
of first and second mortgage, income and convert
IDLE Bonds they are known, and capitalists deal
with them without reflection.
We have noted recently an instance forcibly IL
Illustrating this rule of fnancers. The State of Penn
sylvana taking advantage of the easy state of the
market, and with view to remodel her indebted
ness, was borrower of several millions. She was
quiries were made and the negotiation was perfect
ed The State of North Carolina with little or
comparatively no debt Il ,23O,OOO0 with revenue
in excess of her expenditure, immense natural re-
sources both mineral and agricultural yet undevel-
oped, announces requistion fer certain sums to
be expended not in liquidation of old claims but
in the completion of internal improvements, that
will tend to double the value of her resources and
we hear from many quarters reiteration of the
Ol6 NOT lie IL IF
North Carolna are set out on principles that en-
tirely prevent useless and deInoralizing expend-
ture. They are based upon the known wants of
the people, maturely considered and tested by the
experience of series of years. She has been slow
to move, but her progression has been permanent
The area of the State is $4,000 square miles
100000 acres. In the census OF 1850 her pop
ulation was stated at ,9O3 souls. Owing to
her territorial formation she has as vet no large
seaport town within her borders hence her large
and increasingly valuable products 90 to swell the
export lists of other States. The extension of the
system of development already commenced, and |
the alterations now contemplated and which can
be effected for a moderate sum to Beaufort Har-
Dor, admitted to be of the finest on the South
ern coast, will soon remedy this neglect. In the
meantime Wilmington at the mouth of the Cape
Fear River, is growing up rapidly, and already /
commands considerable trade the railroad lines [
of the State will be extended and increased, en-
abng the valuable products of the interior to reach
the seaboard line at an extreme moderate cost
The North Carolina Railroad which the State
IS now constru sting and which will stand pledged
for the Bonds she Is offering for sale, passes
through one of the finest agricultural sections in
the South; as must be admitted by all who have
travelled the route. This road commences at
Goldsborough in Wayne county, where it con-
meets with the Wilmington and Raleigh Railroad, {
Greensb orough, lexington Salisbury
and Charlotte where it joins the South Carolina r
Railroad.
The mineral resources of North Carolina are g
varied and immense. Iron, copper and coal exists i
In extensive fields. The State is now maxine q {
geolog1cul survey under Professor Emmons flor a r
copy OF whose Report We are indebted to the po- f
likeness OF d. w. Courts, Esq., State Treasurer1 in
which it is shown that on the borders of both Deem
and Dan Rivers are immense deposits of valuable k
soa winch from Its cropping out and being in close
vicinity to the ocean, can be worked and carried at
extreme low rates. Of the quality of the Deem I
fiVer Coal at page 80 of the Report, the Profes
'or states:
The two varieties of coal, the btuminous and Ii
em-oitumnous, passing into anthracite are known in
n this coalfed The bituminous is scarcev eon- IL
led for ineness and excellency in this country 81
md 1t has been said BY gentleman who is we'll II
acquainted with Liverpool coal, that it will burn
vice as long. "A direct comparison has not been Ir
nade, to my knowledge, but that the assertion has
nuch truth IN it, have no doubt
The Deep River coal is in the first place ouite "A
rec from smut 1t does not soil the fingers. but in
tr1fiIng degree. 1t burns freely and forms a
axe or it undergoes semi-fusion, and appIutin-
ties, and forms partially impervious hollow cake
,lthln which combustion goes on for a lone time
When small pile of it is made upon the 9Tonnd II
may be lgnIted by match and few drv leaves
sucks. 1t may be ignited in the blaze of lamn
candle. The coal is, therefore, highly eombus- :.
bic, easily ignited and burns with bright fame ST ST
Re hght|ood' for long time. 1t may be burnt oh Oh
pom wood fire. 1t may be burnt in the common u,
epiace and it is not little strange that GENTLE III
en-, who have used it for many years in black a
MIN forge, should not have used it in their par
rs, instead of green black oak.
his coal Is adapted to all the purposes for 81,
cn the oltumlnlous Goals specially EMPLOYED. tn,
Jus for the manufacture of the car6uretted nv rai
ogen' Tor lighting streets and houses there is no of
al superior to It, 1t will require less expense for Co
hsnIng lt; because it contains so little sulphur. mi
I'M which sulphurctted hydrogen is formed, So N
% IN the CRATE, it will be far less offensive for NJ
!, same reason But, as it is rich in btumen, it &c
Il furnish large amount of gas, and that which Ma
comparatively, pure. This advantage is one of No
at Importance 1t should, also, be Stated. that Pc
furnishes an excellent cake, which NAV be used
Manufacturing purposes, and as it is left very in
rous, II Is IN condition to absorb large guam Co
OF tne solution of cyanide of potassium !; and Ma
nee IS scarcely necessary to add, that it is ad Ne