The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1853-10-19
The STATE Bonds.-we we're lael

The STATE Bonds were Ilelsrd
20 see. in the Last tireenslarough Pa.risi. ven
sensible communication ia Ieiaiion TO she Lie
sale Of the bonds Of this State in New york. 70
the amount of s5O0.O00 a ihEre pei cent. pee
MUM. The writer calls in question lhe wisdom
az the average p,liey adopted by the Treasurer.
The effect of which has lren 10 exclude oui Don
ei;izens from the purchase az any portion u said
bonds. though the, have OiIrrcd higher PreIniums
Than the basds were actually ssiI mr.
We had hesod ihe suffice, petty freely Discus
sci IN rrcies here hsfaIe we received The Patriot.
AMI The views expressed were very similar 10
those 50 clearly presented ~ :, citizen" in his
communication in that paper. The COURSE nioP-
ted by ths Treasurer has psiprai Irndfnry to
exclude competition, and 70 throw the whole into
tbs hanas Of millionaires. OF into The hands o.
stock brokers aud hankrrs. Who. by combining 20
bid far "lhe whole or none" secure 10 ihem-elses
all the advantages of the in,e.imnni. selling oui
afterwards al an advance 81 two. three. siS. or
perhaps higher raies Of premium.
This certainly was mol intended by our I.egi,.
lsture. when il provided f,r the issue Of 81 600
and $4,000 bonds, with coupons iarhed. Il
would seem to have been ,hrh desire that as ma
ny Of our own rliIcns as chose 10 do 10 should
have an opportunity Of making investments. n
one or two hundred thousand dollars were taken
al home. the balance could M doubt he disposed
of abroad quito as advantagrousiy % The who'll
has been. The credi, Of North Caroline would
give value 10 ihe stock which would not be con-
irolled by the whole OF none" pfinciplc.
The temporary stringency in the money mar
ket. We think. onght no, to have any rery sensi.
bic effect on ,hc sale Of our State stock. when il
is considered that The United Siairs has. some
twenty millions lying idle in her treasury. with
which she is endeayorins 10 redeem her stock.
offering as high rs 81 per cent. premium.
We do not question The purity Of the natives
whirh have Influenced the State Treasurer ia
dccidng upon The policy which was adopted; nor
40 we doubt that he has awaited himself &c the
hest sources of information which were open to
hin; but the experience de i.ed from the two
Is sales, we think is sulFicicn, to determine the
propivty Of change in the plan. and we hope
the rreasdrcr will so conclude before other bonds
arc lut in market There is large amount Of
capital in North Carolina seeking investment,
and our citizens would prefer 10 invest it in State
bonds. Let the bonds. with the Interest, lie made
payable in he city II Raleigh, and sold To the
highest bidders in such quantities as may he de-
sired, aud we have little doubt that the sales
woull be considerable. and the premiums much
more favorable than last obtained But even if
sold at par. would il moi be better than TO sell at
three per cent. when the pay ments are to be made
ia New York!
The correspondent Of the Pairio, no doubt
speaks the sentiments Of the con>itlera,c ,orticn
Of his fellow citizens Of the State as he ceri ,inly
does ours, in his concluding PARAGRAPH. he ex.
presses but proper degree Of Stale pride in say
ing when we consider hoD ind ,ohfre these
bonds are made payable, we regard the recent
sale a miiter If deep n.oriifiraiion for every
North Carolinian, instead If rause Tor ciaiula-
ton;' and The pFcdirtiap that when The pinci.
pal and interes, shall have been discharged, and
the exchange thereon paid. less profit will accrue
TO the State, ihap II bonds Tor similar amount
had been sold at par made payable in The ,.Sfafe,
is, we think, more than likely 10 be realssd