Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1854-11-03
DlsuOsabIe Capital.


State and that, in all previous biddngs citizens of
North Carolina made offers for the whole or
part OF the sum to be taken, shows plainly that
there is capital in the State dsposable for purposes
of investment If then, the commercial operations
of the Stale be cramped for want of MEANS it is not
because of the non-exstence of such MEANS but be-
cause of their not being available Banks cannot
make sixpence of money or moneys worth-that
deIuson is totally exploded; they do not furnish
capital, but they can and do furnish medium
through which the accommodations of the capitalist
may be made available for the purposes of the
active business community all the capital which
they WELD mus, already exist and be disposabe, and
they only bring it into market. Banking upon
any other basis, with any other idea must be nc.
ttious and unsound, and therefore dangerous. If,
however, capital does exist, we think events have
shown, dsposable for in 1esment, and the wants of
the business community show that this capital can
be safely and advantageousy brought into operation
for be transaction of business cramped for the
want of it. we cannot see any valid objection 10 the
creation of proper agencies for bringing it into such
operation !; and therefore, banking charters, with
that view, and accompanied by such safeguards as
may be deemed necessary for the protection Of the
community, may anu ClnHh, ousHO W VIC
by the Legislature at such points as the actual and
legitimate requirements of business demand the To-.
cation of such institutions.
Our acquaintance with the business of this place
iusies us in saying, that considerable increase is
wanted at this point both for the tranaction OF the
existing business and also to enable the advantage to
be taken of the avenues of trade opened to this
place by public works, constructed at great expense
and no little sacrifice the part of our Citizens
Let us instance one--the Cotton business from
| the adjoining districts of South Carolina Plant
ers have been accustomed to receive advances
upon their Cotton, for periods of two, three and
sometimes six months. Our Banks here are wholly
without the means to make such advances the South
Carolina Banks will make no advances on any cotton
TO be sent this markeit must be sent to Charles
ton-this is to be expected but the result cannot be
doubtful 1t places this market at disadvantage,
which cannot be overcome until it is able to afford
equal facilities with Charleston. We might refer to
other matters which are beginning to show them
selves in our State but what We have said. WILL
we trust be sufficient TO express and illustrate our
views this subject.
The Connection with Hamburg.
Our readers are generally aware that the Legisla-
ture of South Carolina, some time since, granted a
charter for Railroad TO run from the Western ter.
minus of the Wilmington & Manchester Railroad tc
Hamburg, on the Savannah river, opposite Augusta
This Road, which will shorten the ronle very mate
rally is of pressing necessity and Importance TO the
coast lines of Railroad in view of the efforts now
made and about to he made to divert the mails ant
the travel 10 other routes-and, at any rate, the i'm
portance of the connection cannot be doubtful
one aware OF how greatly the through travel is
at the mercy of the South Carolina Railroad ant
subject to be affected by its whims, caprices and eal
ousies in connecting with the Manchester Road, Il
which it has never been friendly. We do not wis1
TO take any part in the discussion of the existing diff
, fcuties between that Road and the Post Office De
partment, have devoted but little time to
study of the case and only cognzant of one fact
and thai is that the Roads North and South of it hav
accepted the terms which it has rejected
We are pleased TO know that the Directors of tn
Wilmington & Manchester Railroad have ordered
survey of the route from Kingsville to Hamburg
when that survey shall have been completed, and il
result made known, it will be time enough 10 go NOR
fully into the subject, which is certainly the one
most present importance to those interested in tn
maintenance and prosperity Of the existing seaboar
:, lines.