Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1853-02-16
THE STANDARD.
RALEIGH, SATURDAY, FEB. 10, 1853.


RALEIGH, SATURDAY, FEB. 10, 1853. 4
STATE BONDS AND STATE RESOURCES. /
We publish to-day the advertisement of Mr..
Treasurer Courts, offering for sale s 100000 in
,,upon Bonds of the State of North Carolina, being
e first instament of the $4,000, 900 for the North
Carolina Railroad. q
Mr. Courts has lately visited Washington City
and New York City, with the view of advancing the
public interests by an advantageous sale Of these
Bonds. He has spared neither pains nor expense
in placing before the capitalists Of the Northern
and Eastern States and of Europe, the financial
condition of the State and Ler vast resources and
.iulging from the notices of his efforts which we
see in the New York journals, we have no doubt
these efforts will tell quite favoraby on the sale Of
these Bonds. ~
We copy from the New York Mercantile Journ-
al and Financial Recorder the following notice of
the financial condition of North Carolina, elected
BY the late Report of Mr.. Courts =@'s
"The finances of the State appear to be in -four.
ishng condition; the accounts show that for the pur-
pose Of internal Improvements $23O,O00 Of State
Bonds have been issued within the last two years
and during the same period besides discharg!ng the
ordinary expenses of the State including the interest
on her debt the sum of $4,000 of the debt has been
,ztnguished, and large advance been made in aid
Of the public works, amounting in the aggregate to
sum considerably in cdvance Of the Bonds issued.
The present debt Of the State on which interest is
payable does not exceed $l,230.O00. The estimates
show, however. that authority has already been given
by the State to the creation of further debt Of $2,
100000 by the issue of bonds for the followT
and purposes: $4,000 for the Seaboard and Roanoke
Railroad Company, being one-half of the SUM nec-
essary to complete connection between that Rail-
road and the Raleigh and Castor Railroad, and $685.
900 forthe Improvement Of the navigation of the
Neuse and Tar Rivers and 81, 600 900 for the North
Carolina Railroad. -
The whole of the improvements protected and ald-
ed BY the State rising rapidly in value. The Wills
mingon and Raleigh Railroad is paying coed diyi-
dends the Fayetteville and Western Plank Road, Of
which the State owns threeffths of tho stock is
equally profitable to the stockholders; and the Rail
elgh and CASTOR Railro.d, after having long been
drain upon the Treasury. promises fair to semunefate
all the advances made therefor
The Treasurer suggests that the Bonds Of the State
future issues should be S Coupon Bonds ,and not
aspevious!y 8. Registered" and he reasonably ar
CUES tina. the premium likely to be obtained for them
will be materially affected By the action Of the Legis-
lature in relation the form of Bond to be issued,
and also upon the point at which the principal and
Interest made payable. - 75sss 49, :. :.
There ought to be no question respecting the form
10 be used; no fnancier in the present day would
dream Of issuing So 900 Of Bonds thout adopt
Ing the most approved ~ bod now in use. that Of
rendering them availaSp tothe ptalist as Bank
note. The facility with which they can be convert
ed' the with which the interest can be receiv.
sd,a material considerations that enter largely into
me computation of their marketable rate and value
Goot, 80
lore the statement Of the Treasurer. . That Bonds sc
a'aWn bring much better price than those Of the old
form issued BY the same State; and if North Caro-
lima desires that her Bonds should enter into fail
competition with other States, she should not only
adopt the form they have done, but should lik.
most OF them, make hers payable in the city Of New
York. the great monied mart Of this Continent ant
with which foreign capitalists have free and direc
intercourse" should have much weight with 3th'
Legisature'' X: 20 =. 4
The recommendations of the Treasurer to the
late Assembly in relation to coupons and the pro
Vision for paying the interest IN New York, wer,
promptly acceded to and carried out by that body
;, We might quote from various Journals Of Nev
i0rk City, which have spoken in highly favorabl
Terms Of the resources and character Of the State
out it is unnecessary that we should dosso ,Sss
lhe mineral resources Of North Carolina ar
alike varied and exhaustIess Gold, silver, iror
copper, coal, marble. mari lime, salt, and preciou
STONES are all to be found within our limits; an
"e water=power which might be brought 'to.bea
and which will be, sooner Of later quite equal
mat Of any State in the Confedsraey. In additio
=" th's' the turpentine crop is increasing both i
quantity and value; and the same as to her tin
0r winch, with the turpentine in its various State
must always co nmand the cash in home and fo
'sn markets. Greater attention Is also being gi,
~ 'nan at any former period 70 the cultivation
.e earth-ag agricultural societies have been forme
IN many Of the Counties, and a, growing Tintere
N this respect is pervadiug al quarters Of the Stat
oor corn, cotton, wheat and tobacco, crops crops i
steadily increasing labor of all kinds con1man.
IA, prices and, IN word, spirit Of improvsn1e
ana regeneration is absoad which is neratos il
=