Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1854-12-23

Road to pay the last instalment being taken up,
Mr.. Smith was decidedly opposed to the amend
ment. The State had contracted to pay cash, and
the offer to pay in bonds, which selling in Bal
dmore at 80 and 92 was a species of repudation
The State obligated in good faith to pay two
millions of dollars, and he trusted would do SO. Be-
sides it was well known further appropriation
would be required it useless to withhold any
part of the instalment now due.
Mr.. Outlaw insisted the company had not fulfilled
their contract by paying up the instalment of one
pay up her share of two-thirds-was decidedly OPP
posed to calling the State for nsolvent suare-
holders. - -n'
Mr.. Gillian was in favor of Mr.. j. G. Bynum's
amendment, and while always in favor of rail roads,
he distrusted rail road companies, and would hold
them to strict accountability. No account has been
received by the House of the amount of inSolvent
shares unpaid. .-.. --
Mr. Mebane interrupted Mr.. Gillian to offer an
amendment 10 Mr.. Bynuul's, which allowed $50, 900
to be deducted from the nstamert for insolyenccs.
Mr.. Gillian not satisfied with the last amend
mcnt, but wanted to know how much was due to
contractors Mr.. G. commented very strongly upon
the statements of those who supported the reSoiu-
ton, and while willing 10 fulfill the contract made
by the State, he called upon the House reject the
resolution
Mr.. j. e. Bynum withdrew his amendment and
offered another.
Mr. Dargan, though coming from a part of the
State not much Interested in the Railroad, was in
favor of the original resolution and opposed to all
the amendments. The people had by the most
strenuous eXertions succeeded in nearly completing
the Road, and out of million scarcely one-fourth
per cent was lost. The interest charged on the de-
layed payment of inStalments would nearly cover
the nsovtncies. 1t was conceded this instalment
must be paid in the end, and thought it unfair, in
stead of cash to offer State bonds 90 cents the
dollar. The pledged faith of the State must not be
violated, matter to what extent taxation rails
ed to sustain it. ..-.. -r .-4s.
Mr.. j. G. Bynum replied, and complained of the
conduct of the COMPANY in asking for the install
la ed hat he had fin led
their part of the contract With the State, and of
were not entitled to any further assistance
until they did so. He was not opposed to the Road,
but would peril the credit of the State to support
Company who entered into contracts, knowing
well they were unable to pay them. Their motives
might be good, but he would oppose such proceed
ings. .'-. -
Mr.. Smith had no idea of meeting such an on
slaught from the gentleman from w Washington, who
had greatly msrepresentCd his statements IF he
had acted like that gentleman, and, by opposing
this resolution (Which enabled them to pay for con-
tracts already entered into, under sanction Of the
law) endangered the success OF the road, then he
would feel himself guilty of the charge imputed to
him by the gentleman from Washington The State
ought to yield little in favor of such great i'm
p:ovcment. He did claim it as right but relied
on the generosity oil the State who bound, not by
contract, but by honor to pay it. He therefore
opposed the amendment.
Mr.. D. F. Caldwell spoke against the amendment
and in favor of the original resolution. He comment
ed in warm and severe language upon the opposi-
ton manifested upon every occasion to this great
Improvement, which OF such Importance to the
State at large.
motion to adjourn was rejected. Yeas Is,
Nays So.
After some further discussion another motion to
adjourn was rejected. Yeas So, Nays 81.
Mr.. j. G. Bynums amendment was rejected. Yeas
40, Nays g.
Mr.. Mann opposed the resolution on the ground,
that such proceedings would be injurious to the
cause of Internal Improvement.
On the question that the original engrosssd reso-
luton do pass, Mr.. Patterson moved an amend
ment, authorizing the Public Treasurer to pay over
to the company State Bonds at par value, making
the necessary deduction for the insolyent shares
not paid, which adopted, and the amended reso-
luton passed.
On motion of Mr. Steele the House adjourned