Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1855-02-09
THE WILMINGTON JOURNAL.
The Cape FeUr and Deep River Navigation.

The Cape Fear and Deep River Navigation.
From an esteemed friend in the Legislature. to
whom we are already indebted for many courtesies,
we received, on Saturday night, the following des-
patch
"RALE1oH, Feb. Sd, 1855.
Editors Journal Cape Fear and Deep River Bill has
passed its final reading in the Commons
AS the bill had already passed the Senate, almost
By acclanation its final passage in the House is
equivalent to its becoming law.
With the particulars of the Bill we not familiar
1t provides we know, for the endorsement by the
State of the bonds of the company, to the amount OF
three hundred thousand dollars 10 be applied to the
completion of The work. We believe the said bonds
are 10 be emburseable in 10, is and 20 years, in
equal sums of 100000 each.
We cannot but regard this one of the most
important measures of the present Legislature In
Decd we do not know but it is the most important to
this place and TO all the section of country connected
with it by the Cape Fear River, and this comprises
no insignificant portion of the State. Through all
the doubts difficulties. perpleXities and mismanage-
ments of The Company, now SO generally admitted
and regretted we never once doubled the fact that
there was in the enterprise mach TO commend it to
the fostering of the people OF the State at large
and especially of those who would be connected
with it more directly. AS we often remarked before
if the mineral wealth of the section this work is
intended to open up be onethrd of what it is repre-
scented 10 be, its advantages will amply repay almost
any expenditure within the bounds Of reason, and
certainly justify amount of outlay much exceed
ing any that has yet been contemplated. From the
errors and mistakes of the past incident to charac
ter Of Improvement totally new in this State much
we trust and believe has been learned which cannot
but enable those charged with its completion, to
avoid the rocks which have proved so disastrous to
its commencement.
The iron and especially the coal business of Penn
sylvana has done for that State within the last
decade than the immense commercial development Of
New York has done for that Stale. Since the deve-
opement OF the mineral wealth OF the Keystone State
she alone of all the old Atlantic States, has increased
her population faster than the average ratio Of IN
crease throughout the whole country, being entitled
under the Census of 1850 10 larger congressional
representation than under that of 1910. while on the
other hand New York loses ground. Nor has the ad-
vance in her wealth failed to keep pace with the adj
vance in her population.
To North Carolina the benefits of such Development
can hardly be less striking nor their effects in pro-
noting the growth of Wilmington less encouraging
than such effects have proved themselves at Phladel,
phia, which city, in the face of very inferior foreign
commerce. has spread out to gigantic proportions and
keeps up coasting tonnage superior to any port III
the country.
With direct water communication with the
Mines capable of carrying the largest class OF boats
we could have nothing 10 fear from any present or
prospective competition, and we sincerely believe
that such direct communication is at length within
our grasp. These are tight times for Wilmington
she is having something like crisis but her onward
progress is by no means stopped-she has tar from
reached her eliminating point.