Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1853-02-25

Ths Csnl Fields or Koran Caroline. &C.
we extract the following article from the New !
Yak Mercantile Journal, of the 18th inst. Sne Of
the abest financial papers in that Cry
MORN CARoLISa 1t IS surprising fact, no less
strange than true that the greater the Indebtedness
Of nation the readily professional imam
cies deal with the representatives. of that indebted
ness The same anomaly appears with respect to
notes and bills which the face bear the stamp OF
legitimate business. The more house has lis paper
CIRCULATED the greater will be the facility with which
in ordinary times ii will be cashed provided the
elements of punctnality and promptness have not
been wanting in previous Transactions On the Lon
don Stock Exchange loan OF i've millions tor de-
fanlng quasi Bankrupt Kingdom, has a greater pro-
liability of exciting eager obbers to worry the sue
cessfu contractors for slice. than loan Tor one
fifth of that amount demanded for nation tolerably
free from debt and whose securities consequent
" unknown to the of capitalists. Wall street
practices the same system Bonds and shares
Notes and Drafts are bought and sold without any
clear or defnitve knowledge by the brokers OF the
intrinsic value of the security the resources OF
the makers The makers are knoTn ]. e. their en-
1apem hts on paper have been often and there
fore they are current. 1t is this method that ena-
hles the la ge companies to go increasingly. add
ing TO their obligations in the shape OF first and sec
ond mortgage, income and convertible Bonds .hey
are known and capitalists al with them without
. reflection. 49,
I We have noted recently an instance forcbly illus
trating this rule of financiers The State OF penn
sylvani taking advantage of the easy state OF the
market and with view to remodel her Indebtedness.
was a borrower of several millions She was no
stranger to the monied Classes, few no enquiries
we're made and the negotiation was perfected he
Estate of North Carolina with little comparatively
no debt Isl. $50 00O,) with revenue in excess or
! bcr exnenditure Immense natural resources Doth
mineral and a grcultnral yet undeveoped announces
reuni<tion for certain sums to be expended not IN
liquidation of old claims but in the comp elton OF IN
r ernal improvements, that will tend to double the
i hnoTf rOV11r 10v0
ters a reteraton of the old remark g not Known
; The nublic works of North Carolina set out on
principles that entire prevent useless ana demon
az,ng expenditure. They arc based upon the known
wants of the people, maure]y considered and tested
by the experience of series of years She has been
slo V to move but her progression has been perma-
s nent The Of the State is $4,000 square miles
c 81 0@0 900 acres.
n In the of 1850 her population was stated at
SOS 903 souls. Owing to her territorial formation
y she has MS vet no large port town within her
O. borders hence her large and increasingly valuable
products go 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 q moderate sum to
e Beaufort Iar bor (admtted to be of the finest
d on the Southern coast, will soon remedy this neg
j. lect In the meantime Wilmington at the mouth
-, of the Cape Fear River, is growing up rapidly, and
- already commands considerable trade tho railroad
lines of the State will be extended and increased en-
er aiding the valuable products OF the interior to reach
a the seaboard line ut extreme moderate cost.
II The North Carolina Railroad which the State is
now constructing and which will stand pledged tor
VI the Bonds she offering for sale passes through
n one of the finest agricultural sections in the South
l. as must be admitted by all who have travelled the
c. route. This road commences at Goldsboro II
- Wayne county, where it connects with the VIII
. mington and Raleigh Railroad, Hillsboro Green's
boro' Lexington. Salisbury and Charlotte, where IT
Ii joins the South Carolina Railroad.
o. The mineral resources of North Carolina are va
visits ir
! extensive fields The State is making geolog
c. ical survey under Professor Enlmons (for copy
of whose Report we are indebted to the polltenesS
,e d. w. Courts, Esq, State Treasurer, in which it Is
o. shown that on the bvlers of both Deep and Oar
Rivers are immense deposits Of valuable coal. which
IS from its cropping out and being in close vicinity t.
h. the ocean, be worked and carried at extremely
1e low rates Of the quality of the Deep River Coal
y at page $50 of the Report, the Professor states:
- The two varieties of COAL the bitumlnOus anC
H. semi bitumnous pa ~sing into anthracite known
lie in this coalied The bium;nous is scarcely equal
as led for nencss and excellency in this country anC
st it has been said by a gentleman, who Is we'll ac
quainted with Liverpool coal that it will burn twice
as long A direct comparison has not been made
e to my knowledge. but that the assertion has mucl
in truth in it. have doubt.
"a THE Deep River coal is, in the first place, quite
~ free from smut it does not soil the fingers, but in
pc trihng degree. 1t buns freely. and forms cake
or or it under semfusion, and agglutmates.
er forms partially impervions hollow cake, within
of which combustion goes for long time. When ;
=, small pile of it is made upon the ground it may b.
IL ignited by match and few dry leaves Gr sticks
ell 1t may be gni:cd in the blaze of lamp or candle
ot The coal is therefore, highly combusthle easily i
on nited and burns with bright flame like lightwood
for long time. 1t may he burnt upon wood fire
~ 1t may be burnt in the fire place. and it i
ma not little strange that gentlemen who have uscc
icf it for many years in blacksmith's FORGE shoul
he not have used it in their parors instead of greer
black oak
VA This coal is adapted 10 all the purposes TO
ort which the hitumnouS Goals specially empoye
=" Thus for the manufacture of the carhurced hydro
ws gen. for lighting and houses there no coal Su
pcrior 10 it, Ii will require less expense for furni:
, ing 5; because it contains little supher. from
NY which suphureed hydrogen is fomed So, also il
nc the CRATE, it will be far less offensive for the sam
Sc But, it is rich in blumen will furnish
-; large amount of gas and that which is. comparative
~, pure. This advantage is of great importanc,
Us: 1t should also, be stated that it furnishes an excel
lent cake which may be used for manufacturing pnr
IN poses and ii is left very porous il is in conlitio
10 absorb, large quantity of the solution Of cyanid
1o of poias um; and hence is scarcely 10 add that j,
on admirably adapted 10 seamings naSmuch as its fam
oh is free and durable. For forge uSe is not surpass
no ed by any coal In Market and for paror CRATES ii
both pleasant, economical, and free from dirt.
49, "The qualities OF the Deep River coal are of thu
D" character them which will give it the highest pac
he IN the market The localities which have been be:
- explored, and where coal of decided character ha
rd been attained, ar al Hornesve and Farmvc. bot
an the neghhorhood The Taylor mine the Gulf {
S''t Horton, and the Mu:chson Mines all furnish bitr
I'm mlnouS coal, which may vary in some minor point
of yet is quite similar whole The Horton min
is has been used the longest. 1t known in the +,