Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1854-03-03
North Carolina Bonds.

North Carolina Bonds.
The State of North Carolina will on the 2Sh instant
at the Treasury department., RaIeg h, CN allocate
to the highest bidder $780, 900 of six per cent Bonds
having thirty years to from January, 1854, with
coupons payable in this city, at the Office of the
Public Treasurer, at Raleigh These bonds form the
third portion of two million loan advanced by the
State to aid in the construction of the North Caro-
lima Railroad they issued under the authority of
the legislature, and in addition to the faith OF the
State, its property in the road pledged for their re-
demptiOn. Upon the issue OF the first S5OO,OOO OF
this loan, we entered at considerable length into all
the details of the financial position and resources OF
the old North State We then shewed that the State
was comparatively free from debt, in possession of
revenue in OF her expenditures, enjoying agrl-
cultural forest, and mineral sufficient to
render her of the most prosperous commonwealth
in the Union and that the completion of the pro-
ected railroads would influence large amount of
foreign capital to be invested in developing those
sources and increasing the taxable value of the pro-
perry within her limits. The few months which
have elapsed since that opinion was preached have
disclosed facts fully confirming and JustifYlng it sur
veys have been made and reports published shelving
that within her borders all the elements of mate
rial greatness Coal, copper and EgoId she has in a.
bundance kFruitfu lands and immense forests of valu
able timber and within short PERIOD much has been
done TO open up for these natural gifts, available
market. Although issued for railroad purposes, the
bonds are securities of the highest character being in
no way different from the ordinary debt of thriving
State and such they are by special enactment, de-
clared exempt from taxation. The issue of the frs
portion of this loan made in New York. when the
market was temporarily contrace d bought for oreig.
account realized six per cent above par and there is
no visible reason why the present issue should mo-
bring the same premIum-N. I. Mercantile Jonrn
| BRITISH VIEWS OF THE AEERIcAN NAvY.-Tht
London Times, in the course of an article on the A
merican navy, holds the following language
| Whatever may be the actual condition of thu
American dock yards, it would be absurd to dspar
age the true naval strength of the States No rea
sonabe man would think any lightly of thu
maratime power of the American Union from tn
circumstances here disclosed Twenty years ago, GU
own ports were spoken of III almost similar terms
What is it, then, that contributes efectualy tt
American reputation and carries ii through ex
posures which would otherwise prove destructive
Simply the universal conviction that all the element
of strength are in reality there in abundance. An
what gives the conviction Simply the knowledg
that all the OF the globe are covered with Amer
lean shipping and that, though the national arsenal
may not contain the materials for frgate the yards
rivers and harbors of the country, could turn j
twelve months even in many weeks, such a
armada as never yet crossed the Only the da
before yesterday published detailed enumera
tion of the number of steamships which had bee
launched at the port of New York alone, up to tn
first day of the present year; and these figures az
tually showed total of g. with an aggregate tor
mage of 100000, or, in other words, 66 steamers
| averaging upwards of 1900 tons each. There ca
never be question about the true naval power of
f State like this
NOVEL METHOD OF SUPPORTING THEATRE--OdeE
sa, the principal commercial city of Russia, on tn