Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1854-12-16
TIRE ssuRER,s RRpoRTa

80 -. 49,
cepts into the Treasury of North Carolina for the
two last fiscal years-that is from the 31st October
1862, to the 1st November, 1854, were, for 1858,
SLIGO, l27 r. and for 1854, 81 ,22f 1888 S9-mak-
ing for the two years the sum OF 81, 98l, 46e 81.
This includes one million and half dollars for
State bonds sod and also large sums borrowed from
Banks under auth :rity of the General Assembly.
The disbursements for 1853 amounted to ,564,
474 ST, and for 1854 to 81, 605 400 51making 3d.
169,984 SO. Add to the above amount of receipts,
$2,981 ,466 61 the of $780, 86 46, the balance
in hand November 1st 1862 and the balance of ex-
pendturcs disbursements over receipts will ap-
pear, 1852, 131 81. This balance is due the Liter
airy Fund by the State Treasury.
The Treasurer estimates the receipts into the Pub
lie Treasury for 1866 at 1886 643 H. and for 1856
at 1851 ,643 ll-making 1856 II for the two
years; and he estimates the disbursements for 1856
at 1881, 276 y, and for 1856, at $283376 72-mak-
ing S62O.653 A.
We give the concluding portion Of the Treasurers
Report follows:
THE debt of the State, for the better understand
ing of which, reference may be had to the list of es
tmated disbursements, may be set down now at
s., 928, 663 90 .s.. -..-
This debt has undergone some changes since the
close of the last fiscal year, the st of October
last by the payment of the debt of S42 600 to the
900 with Robert L. Maitland Co., of New
York. And also by the delivery of State Bords sold
on the goth October last.
l have not included the $3.50, 900 of the Bonds Of
the Wilmington and Raleigh Railroad Co Epany, en-
dorsed by the State because of the promptness with
which the Company meets this interest, besides pay
ing off a portion of its debt, from time to time.
This debt will be increased soon to So 4O9, 663 30,
by the sale of 81 900 Bonds to be sold under the
Act, for the benefit of the Weldon and CASTOR Rail
road, and the Neuse and Tar Rivers, and of $780,
900 Bonds for the North Carolina Railroad.
In a few days after the adjournment of the last
Legislature, it became necessary for me- in order to
carry out fully certain provisions of an act passed
just before its Close i'll relation to the sale of our
State Bonds and of the act for the construction OF
the North Carolina Railroad, 20 visit the City OF New
York. Under the first named act, it was made my
duty to contract with some suitable Bank IN that
city, to pay off the interest," and finally the principal
of State bonds thereafter to be sold, the State
placing in said Bank the funds necessary to do SO;
and it was also necessary to procure suitable plates
which to have the bonds engraved. Besides, the
individual stockholders in the North Carolina Rail
road Company, had just placed themselves in sit
uation to cali upon the State for portion of her
SubScl ption, and therefore arrangements had to be
made at once for borrowing a larger sum of money
than Banks were willing at the time, to furnish
in advance of the sale of the first $500 900 of our
bonds for the benefit of said road; it Was impor
the interests of the State, that the sale for
slch an amount, should be advertised for several
weeks before it took place.
pose, with the Bank of the Republic in that city,
and also arrangements with it, for the advancement
of such of money should be required for the
Railroad, before it could be raised by the State from
a sale of her bonds.
The contract is on file in the TreaSurer's Office,
for the inspection of the Committee OF Finance 1t
is of course temporary, lasting only until the close
of this Assembly and it will therefore, be necessa-
nv for the Assembly to make permanent contract
with this Bank, some other in the city OF New
York.
The Committee of Finance will, of course, inquire
into the fitness of the Bank selected; and fiattcr
myself that it will be found, upon such enquiry,
that better selection could not, under the circuin-
stances, have been made.
Before leaving New York, l concluded after ma
ture reflection that it would be better for the State to
have the first sale of $500 900 of the bonds if not
the second also in that City, rather than IN Ralelgl
| "a discretion given in the Act prescribing such
sales, it designaes particular place. The State
had offered for sale before, at any time, any
thing like $5OOuOO State Bonds, while this was to
! be succ, eJed by other sales of similar amount.
! believed that, by advertising and selling at that
point thu attention of the Capitalists, both at the
! North a;id in Europe, would be more attracted 10
/ oul stocks and the resources of the State become
! more generally known. For have found that the
! latter are very much moderated by many persons
at distance, who judge Of the means OF the State
by the meagre lists of exports from North Carolina
| because of the want yet of facilities for the
! transportation of our products to our own ports
Accordingly invited in January, 1854, in var
Gus newspapers, sealed proposals I'LL TIC olst "
March, to be addressed to me at New York, directed
to the care of MesSrs. Brown DeRossett OF tina
city, for the purchase of S500,000 North Caroline
bonds, dated January LIST, 1858, and running thirty
years.
The result of this as we'll as of subsequent sales
is shown by this Tabular Statement.
SO after taking the same steps, sold in Scptem'
bcr 1853 at the place, another 5000, 600 more
! bonds of the description, except that they
! were dated 1st July, 1858.
! | made the next sale of $500, 900 last Spring, II
| this City, These dated January 1st, 1854.
Last October, after due advertisement, L SOLE
! $4,000 bonds, dated July LIST, 1854 and running
thirty years.
These bonds were all sold under resolutions o
the Board of Internal Improvement to enable tn
State to pay her subscription to the North Carolina
| Railroad.
At the last SALE the individual stockholders pai'
in on their part only $4,000. Hence the sale o
only $4,000 bonds by the State.
At the same time advertised $l52, 900 bonds rum
ing years. and dated july lst 1854 under the Ac
for the construction of the Weldon Castor Rail
road and for the Improvement Of the navigation o
| the Neuse and Tar Rivers. OF these sold onl.
S4I, 900. The Treasury, however, was in condl
ton not to be embarrassed by the failure to dspos
of the whole amount, as nearly all of the who'll
amount advertised were to remain in the Treasury
on account of advancements already made for tn
above objects.
For, as l remarked in my last report, 1 exercise
the discretion given by the Act for the construction
of the Weldon and CASTOR Road, and for the i'm
provemcnt of Neuse and Tar Rivers of either ad
vancing the money from the Treasury or selling tn
T da6v thp from tn