Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1856-12-20

2 For the Standard.
To tAS Asmbsss 81 tie pressnt Lgsslaexrs:
GESrLsxzk: Permit me to call your particular r.
tention to . bill introduced in the Senate by Mr..
Boyd, on Tuesday, the 18th uitimo to incorporate
the Greensboro and Danville Rail Read Company.
I do not hesitate to say (and think 1 can prove
most clearly that it is by far the most important
bill that will be introduced this session, that has
been or will be introduced for many years past and to
come. - tss ]
The bill upon its face presents An exceedingly
modest appearance. It simply asks charter-the
advantage Of corporate privileges, without calling
upon the State for single dollars assistance. Now
one would think that this request was not only rea-
sonable and just but most decidedly consderste;
considering the very large demands that have been
made upon the State for assistance, during the last
four years for numerous works of Internal Improve
mcnt 1t is for the very reason that the specious'
ness of Mr.. Boyds bill is likely to deceive the MEM
bers of the Legislature that have taken the liberty
of calling your attention to it for = few moments.
In the, first place. admit that the State has no
right to refuse, under ordinary circumstances,
company of individuals who simply ask corporate
powers to carry on any lawful occupation. And,
therefore, if this was naked question Of right, do
not hesitate to say that the Legislature would not be
justified in refusing charter to Mr.. Boyds compa-
ny. But the circumstances in this case are most
clearly peculiar. Let US sec for a moment, what
they are. The State Of North Carolina has recent
ly invested three millions of dollars in the North
Carolina Rail Road. 1t has subscribed 81 OCT 900 in
the Atlantic N. G. R. Road; 100000 in the
Western Extension, with covenant to increase
this in the ratio of two to one as individuals shall
subscribe the one-third. It owns over a half mil
lion in the Wilmington & Weldon Road !; and be-
lieve one-half of the Raleigh & Castor Road be-
sides large sums in other companies; all of which,
are looked upon and intended to be North Carolina
works. Now I take it, that it would be a moderate
calculation to say that in very few years the lia-
bilities of the State for Internal Improvements will
be SIC, 600 600. 1t is already 1000 900 or $SO00
0OO The taxes necessary to meet the interest only
of this debt, are in the opinion of many liberal
minded men, quite high enough in all conscience
Yet these taxes will have to be increased consdera-
bly, yet, to make them adequate to the necessary
requirements of our Treasury. But when we come
to add to this the indispensable duty of raising
sinking fund to meet our debts as they fall due, it
requires high order of courage to look steadily in
the face, the serious sacrifices which we shall be
compelled by every honorable consideration unhesi-
tatingy to make, am persuaded, however, that even
the boldest would shrink from the contemplation of
the state of things if it not expected and be-
lieved. that those various public works into which
this State has entered largely, will shortly become
remuneratng investments, and thereby relieve the
State not only from heavy tax to meet interest,
but contribute not little to raise the fund necessa-
~ to pay off the principal as it falls due. How is
this hope to be realized? Mos. clearly by all North
Caroinians far as practicable, using those high
bought facilities for markets and travelling, prefer
ence to those of other States or any others that
might seriously impair, if not destroy their ability
to meet the States reasonable expectations
Now what is it that Mr.. Boyd asks the State to
do? Why, simply to destroy in the most effectua
way, the only rational basis upon which these ex
pectations built. He asks you to autAorise thu
connecting link in line of Rail Roods sohich .ciA
| fi,oT, ~
praiseworthy works which the State at heavy ex
pense, and with noble liberality has embarked in
The Road from Danville to Greensboro tapping the
State in its richest section as it does will with the ad
Of that part Of the N. c. Road from Greensboro tc
Charlotte efectually drain the State of the greater
part of its greatly increasing productions; will de-
stroy the Wilmington Weldon, the Raleigh &
CASTOR, the Atlantic & N. Carolina a hundred ant
thirty miles Of the N. c. Central and all other Road
and other works Of similar character below Greens
boro. 1t will constitute with the line it completes
the high Road of all the travel North and South fo
blindness seems to have prevented former Legis
lature from perceiving when it chartered tina
branch Of the Road which taps the State at Char
lotte. ask you therefore, gentlemen, if in view o
all these things you are prepared to grant the char
ter he asks? That all these consequences will fo7
from it if you do so, there cannot be shadow of
doubt. Has Mr. Boyd's company right to demand
this charter? l answer most unhesitatingy No.
II M. BovTs friends sciU pay back to the State til
semen millions ,ohich she has already incurred o
debt and reliere her from her contract for tutur
responsibility, then admit they would be in con
dtion to demand as right, the corporate privilege
they seek.
Every thinking man will at once perceive that j
will require nothing short of this to do so. Now
ask what hardships Will it work to refuse the char
ter sought by Mr.. Boyd? Why. it will deprive
fe,o citizens of two counties of the privileg
of having Rail Road at their door; when not on
of them is at this time, than twenty or thirt
miles from the facilities offered by the N. G. Roa
or the Danvie. On the contrary, If the charter
granted you not only sink the screen to ten million
Of dollars the State has infested and Is hound to IN
ing tores for all time to come; but you annihiat
the millions which thousands of other citizens, goo
and true have embarked jointly with the State. i
her numerous projects, with the hope, REASONABLY
entertained, of some remuneration in the future
do not ask you, however, gentlemen. to vie,
this question in any aspect in which it may affee
individual rights. I wish you to put it entirely Of
its only proper footing. simply as question Q
State policy. And in this light, to ask yourselve
whether you prepared for the sacrifices, which
Mr.. Boyd asks at your hands, in granting a charte
to the Greensboro and Danvle Rail Road Com
pany.
1 have the honor to be your most obi servt
W.
VNHE N. C.. MUTUAL INSURANCE COM
IL PANY.-The annual meeting Of the North Carol
Mutual Insurance Company will be held at the Office
the Company in the City of Raleigh Tuesday the lSt