Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1854-12-01
.. Make Haste sIowly."

Make Haste SLOWLY
We are among the very last who would wish to
throw impedments in the way OF our State or her
people, in their efforts towards Improvement by means
calculated TO facilitate internal communication and the
Interchange of commodities between the interior and
the seaboard as we'll as between other portions OF
the State, now isolated from each other, and if not
hostile, certainly far from being united as 1t is
desirable that they should be- But while every effort
should be made, commensurate with the resources OF
the State and careful regard for the maintenance
of her credit, primary consideration, not to De
neglected under any circumstnceS 1T should be borne
in mind that any thing like speculative haste, or any
measures tending largely to increase our State debt
in advance of the means provided for the payment
of the Interest thereon and It's ultimate liquidation in
full must seriously affect the price of the bonds OF
the State As an illustration of this fact let us COM
pare the bonds of the State of North Carolina, ow-
ing debt of less than three Millions with those of
her sister State of Virginia, owing from fifteen to
twenty millions While North Carolina bonds have
rerently commanded premium of II per cent, Vir-
GINA bonds bearing the same rate of interest have
been with difficulty disposed of at 81. This Is an
important consideration and calculated, not to dis
courage enterprise, but to impress upon the Legisa.
ture the necessity of shaping its course with care
fur reference to the paying character of all works to
which It's aid is to be extended-a neglect of which
will seriously affect the sale of bonds; as we'll as q
cautions regard to tho available resources of the
State, so that obligations be contracted so far in
advance as 10 render the prompt provision to meet
such matter of the slightest doubt or entaiing Pc
cuniary sacrifices To do all that is proposed TO be
DONE will take time, and thus our State debt may
be gradually increased-we see how long the Contra
Road has been on hand and it is not finished yet
but really while we don't like rushing headong into
things, it would we think be desirable in future tC
bring some part of so heavy an investment into work
ing order little sooner than the completion OF the
whole work, so as TO relieve the State Treasury
in some degree from the payment of interest for
for unproducve work
Not the mere projects Of individual or sectional
spectators should influence this present Legislature
The credit of the State must first be looked to- and
nothing done to ieopardze that. In order more full
ly to secure this cautious estimate of the accruing
means and resources of the State applicable to works
of internal improvement must be made, so that no
obligation be incurred without certain knowledge
of the existence and aUaabty of the means to meet
it, without resortng 10 temporary shifts and expe-
dients or borrowing from Peter to pay Paul. and be-
ing shaved on both sides The works should of course
be such as to develope the trade and inercommu-
ncation of the State. In doing so, the Legislature
may feel safe in assisting those who have shown a
willingness TO assist themselves By beginning pro-
perly every mile Of new road may be made availa-
Bile soon finished, and take its place in the State
SYSTEM thus increasing the value of works already
in existence, as well as contributing it's part TO bea
the burdens of the State and enable attention 10 be
devoted TO new regions