Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-02-28


work. at it's negotiable yalne. 1t par stock, nothing
would be gained either by selling or paying, for par
stock is money, and would bring the same, whether
sold by the State, by those to whom she transfer
red if below par, there would be the forced sale,
or the greatly Increased cost of the new work, by
stock instead of cash payments. Where then would
be the advantage in transferring? Your Committee
are of opinion that prudent policy would dictate
the holding of the States interest in these roads,
constructed at cost moderate, compared to 9TH
ers elsewhere very profitable, long enough to realize
what is reasonably be anticipated their full value
and then their sale in such amounts as may be adj
vantageous, and purchase OF State bonds, or sale
REIMBURSEMENT, and sinking fund for eventual pay
ment of the bonds at maturity, according to the
provisions of bill suggested to the Senate. But are
these suffering and neglected sections Of the State
which send up to this General Assembly united
voice for justice and aid, to be told now, after having
this justice promised, that they must patiently wait
the result of experiment I" State Improvements
for years longer? 1t is easy for the rich and the
prosperous to preach patience; Tor those who have
all they want to exhort the needy, who aided to
make their fortunes, to wait quietly for more con-
venient and iudiciouS is It, however, LIBERAL
or generous, light? Suppose these Investments
already made did not in two years prove profitable
paying Stocks and money is to be raised by taxation
to pay intercst-what then ?-shali every other
ton be laid under contribution for the direct benefit
of few lines passing through favored and fortunate
counties The regions benefited and largely appre-
ciated, could well afford to pay ; but what of those
neglected.? 1t would be monstrous injustice to
force their contributions, and give them aid
Your Committee therefore, take the ground, that
impurtMt justice absolutely requires the State to
aid foster and protect all sections alike far it
can be done by any kind of i'nprovements-n other
words to carry out tie system until ats benefits are
equubiy d!tused. 1T is not improper to remark,
what is we'll known, that the most strenuous oppo-
sitiOn to extension of this system is made from
sections horimg Ill they aoant by present imprvce-
ns6nts. They have reeeivcd-tney refuse to give
any thing i'll return Other parts of the country
having e4Hat cAfi"ts ask only to be placed on an
equality-they deny this justice. Suppose it were
possible to strike out from existence present i'm
proycments, would they then be for against a
system 1t is easy to answer. Shall prosperity
then harden the hearts Of the favored and close their
cars to the cry for justice? Every sentiment of gen
crosby and LIBERAL feeling should forbid. But there
is i of interest, to some powerful and
persuasive than any appeals to generosity, which
argues against delay in further improvements
Eastern and Western extension of the North Caro-
lima Railroad would be the SurcSt means OF making
that road profitable, and upon This ground alone
judicous policy must urge their speedy construction
and this conStructIOn-Wnat cOnSummatiOn Can
any son of North Carolina regard its certain results
without emotion of deep admiration and pride-to
unite people whose interests have been diverse,
whose feelings no more in common than if between
East and w est had rolled the Of ocean
When this union is this surely effected by the in
,lissouble bounds of iron nuptias, then last will
our State rise to her true destiny of greatness. No
longer IA by-word for sleep, but hearing a name
proud in her prosperity of to-day it is glorious in
denied in her weakucSs-dcs;in>d to burst forth
again like the when the cloud passes. " no
then may not be proud Of such birthright- who
will be found t., condemn the means of deliverance
a nd exaltatiole
Your Committee in making this somewhat exten
ded report, to set forth the reasons which caused
their recommendation of various to the
favorable consideration of the Senate have in doing
so, only recited for general information, the main
reasons that doubtless influenced tn action of the
Senate in passing the bills recommended not all of
which, however, have become laws.
1t is, in conclusion, bnt proper in order to full
by the country ofwhat has been done,
and for convenient reference thereto, to state i'll de-
tail the whole action of the Assembly this mpor-
tant subject.
The following are the measures passed
Il Bill FIR tie complexion Of the North Carolina
Ratr0ad, which subscribes additional million by
the Statc-ths being amount, over and above
what twothrds stakeholder, she was bound TO
take, of 1888, 0OO in round numbers.
4 Bill to incorporate the -1tlantic and North
Curolimt Rai'roa1 Compnny, with a capital stock
of 81 600, 00O-road from GoidSburo, North Car
DINA Railroad, to Beaufort harbor, 90 miles. State
two thirds subscription. Estimated not
81, 800 000-StateS liability $1,000, 000-will be
CURED in two years.
4 Bill to incorporate the Eestern North Carolina
RtitToad CompsHY, from Salisbury, on North Caro-
lima Railroad t. French Broad Valley, west of Blue
Ridge, 1856 miles. State subscription two-thirds
limited to 800 900 per annum for next two years.
Capital stock not to exceed SG, 100000. Road to
be constructed by divisions-frst division to cost
81 300 600 Individual subscription Of $500 900 TO
be first secured, then States subscription made and
paid pro rata after payments ofindivdual amounts.
Charter requires first division to be constructed
and put to work. then, further subscription by
of $780, 90 State to subscribe $500, 000
Every division to be constructed and put to work !
before one is commenced, and the road to be !;
carried ifindivi:ual subscriptions made in this |!
way through TO the French Broad Valley. /
Tile Wilmington ind Chart0tte Ruilroad Bill |
Capital stock 50, 900, 900: State endorses company
ponds east of Charlotte, SIS, 900 per mile; west of
Charlotte twothrts of amount required, 5000, 900. !
The liability of the State for endorsement not to !
exceed ST 600, O00-twentyve miles to be construc
ed and mortgased before any endorsement is made; /
md if at any tme interest is not paid, mortgage to
De foreclosed.
Your committee made no reference to this bill be-
ore because it did not come under their considera-
ion but sent into the Senate from the co-ordi-
late branch of the Assembly. The road will be,
beyond question, most important one for the COM
egion along its line, one highly productive, which
ohOly through the markets and ports of South Car
Carolina port which is second in enterprise and ca
'ability to few in the SOUTH and deserves, more
han any other point in the State large credit for an
mercy which never failed under all the discourage
nents of past gloom, and which has done very much
made of late years for the regeneration of the State
The Deep Ricer Nuciyation BiIi provides for the
Endorsement of the State to amount not to exceed
on1if icaiIi r,Dlot. tI,,