Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-04-04
Rank of the sta,e--.sinking Fund.

Hank of the State---Sinking Find.
A writer in the Register, over the signature OF
"A.n is engaged in a series Of numbers, addressed
~ GEORGE ". Mort,cai, Esq, President Of the Bark
Of ,he State, the object of which appears to be to
induce the stockholders to reject the charter Tor TINS
Rand, possed at the last session of the General As
sembly. We say this appears TO be the object OF
the writer; and we think we are not mistaken IN
assuming that the writer, if stockholder IN the
Rank. would vote to reject. We do not propose to
o,empt anv esrqnation of the Objectionable provis
ions which this correspondent processes TO have
discovered in the new charter, nor do we WISH !"
engage in controversy with him; yet we CONSIDER it
,o,.r 10 intimate to those concerned, that there ae
two sides 10 this question of acceptance or c'on,
and that it would be wise in them to weigh well the
advantages and disadvantages involved before vot-
ing to reject
The stockholders Of this Bank in our humble
op;nion. erred in 1866 in refusing the charter ten
dered them by the preceding Legislature. II, like
the Bank or,Cape Feat they had accepted the char
ter We have no doubt that the last Assembly would
have granted them any alterations and amendments
which they could have reasonably asked The for
mer Bank whose charte, similar, il not precise
~ similar TO that rendered the Bank OF the State,
acccptcd-applicd to the Legislature for such amend
meuts Ms were desired and obtained them without
difficulty and the same liberal policy, we are sure
would have prevailed in relation to The state b"hK'
If this charter is rejected, the stockholders may pre-
pare to wind up their business; for we consider II
certain, from what knowledge we have o' publcsei'
tnent that no other or further, or different charter
will be rendered by the Legislature. That Is our
opinion. and it may 60 Tor what 1t IS WORTH IT, ~
fortunately, 1t should be tested as The result o the
negative action OF the stockholders 1t NH be iouha
correct That there are Objectionable provisions IN
this charter aud that some of It's provisions conflict
with others, may be true; yet no charter is abSo'
ue'y perfect, and 1t cannot be expected that every
provision shall be entirely acceptaoe to sockho'"-
ers The last Legislature voted down what was
calea The Peoples Bank, and granted as was t"""
thought BY large majority OF intelligent, thinking
persons, fair and liberia! charter to the Bank oi the
State Some of the stockholders of this Bank, it
seems 10 us, are disposed to be unduly distrusul
Of ,t, ,co,lc aud or the LEGISLATURE of the State
" " W.
we may oe m'S'nN'"' 'u' SUI" 10 wa W 80
thought so two years ago. ana we 'hlnk SO SUI.
Let this charter be accepted, and our word for II
,ho,o will bo M dinrultv in obtaining such lcgsla.
100 IA, ,..,,,,,,,, ,, s,,;ous ,b-
i've ac''on !" 1000 ~ "'' '''''! 49,
lection and remove any real impeachment !" l"e Guar
ter Of which the stockholders may mpain-nness
;rdood m,io,;tv or ,hc next LEGISLATURE. which is
la.,.,Ji,.oi,. shor,1t.i, favor or tho s,.coIl,d
ny Nv "ea"N'Ae,,' ,''"
.t,,l Ca ,,o Ja,,,inant nor,, of tho State *
c..,a +, Inc, os,,oc;o,
.L T,,, ,,,an of,or o,,.
M,.t,,,.h,,lon. no.,
- ,, ,.,. I,o ,,h,,,
1T ..,,, as a., Sat, ,n;olt h,ro ho,,
L.1 ~, ca.;.I o,,l ,,,o,,,,,. affairs
hr,,i,I on, -, ,h, soo Of ov,,rf,,o,,, rpc,,oin,y
~ ,,;,a.,o ,;...,.r ,,d rnin Tt,.o facts ii
o,,i.,,o,;,,. ,,,non o,, ,,,o,,r,,. o,,..c;.,c5
- ,io .,o.l,o,,I,,.. ,to ,ho,o o,,s
,L.n,r,n. ,i.. - ,,o,,
r, -, ,on.a,'.,,, H.. "1n;, no,o T.,
..i.
u,,tho,oh ,hc s,lirc Fnrd cr,hrocos fine States
proGls of all the internal improvements in the State,
there cannot be a reliance upon any of them cXcc2t
the Railroads An" mere. II Will ne observed INA,
e Wv ,ue,''o ", %e c' u; . Wv
ton for The last twen,, Years into the Sinking Fund.-
aud no longer belong to the Common School Fund.
Whether me author OF the Sinking tHn1 "ct
WIS ,'lu'a .! ,o .r =,
The dividends on the stock of the Stptp in sail RiL
roads Ju,H or being 5uiH." And there is nothing
in the context winch can impose on tue words "
sense 'eS'''cu'e OIL '"c'r natural meaning
The correspondent is mistaken. by tue act oil
the last session creating Sinking fnnn, which we
. IL. 81
publish in inll below it is provided "'hat all the
dividends on the stock OF the State !" The Nor'h'
carolina Railroad, the Raleigh ana oHs'on hai''o"u'
and the dividends on stocks in all other k"'''oaas
built or being built, all plank roads, turnpike roads,
and navigation companies, not o'"e'"tNe "firoP''"f