The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1857-01-06
For the Western Democrat
CAPE FEAR AND DEEP RIVER.

S1E Ia EEIh HNU ULEl hAt LNs
Mr. EDITOR: / was much pleased to see
in IL late number of your paper, an honest
and independent opinion expressed by you
about the works on the Cape Fear and
Deep Rivers. 1t is time that public atten-
tion was directed to the wasteful eIpendi-
ture of the public money on t! o e rivers
which. from their character, can never
with any reasonable sum, be made to an !
swer the purpose which its too sanguine
friends hattpr themselves can be accom-
piished. ] propose, now, to give short !
history of the rise and progress of these
improvements, and shall contIne mySelT IN
doing So, to the several acts of the General ,
Assembly and the published reports of the
officers of that Company.
In the year 1S45. the people the coun-
ty of Chatham, aided by some of the citi-
Gems of the town of Wilmington, procured
tn be surveyed the Cape Fear and Deep
Rivers. with a view to render them navi-
gable by means of slack 1rGter improve
ments. They secured the services of an
Engineer by the name of Thompson. who
made survey and furnished, in detailed
report Ito the friends of the scheme the in
formation they desired, with the probable
cost of the work. Ia this report Mr. Thomp-
son gave it as his opinion, that the entire
cost of Locking and Ddming both streams.
and rendering them nayigabe at all seasons
of the year, mould not erceed SlS5.OOO: and
in private conversations he stated, that so
certain was he that he arithin and be-
lotC the estimate, that he willing to
enter into bond with security to accomplish
the work for that sum. This report was
before the Legislature of 1913, 1cith The
endorsement Of Maj. G,Oynn that he had
examined the figures and calculations of
Mr. Thompson, and had no doubt of their
correctness, &c.
At the session of the General Assembly
in 1913. charter was granted with a CAPT
tai of S200,GnO, and in a supplemental bill
of the same session, the State agreed to
take $50,00O of the stock, being two-ffths
of the then capital of the Company.
In 1852, the Cape Fear and Deep River
Company, finding that Mr. Thompson had
greatly Eaderrated The cost of rendering
those streams navigable. in his original
port-dithough endorsed by Maj. Gerynn-
made application to the General Assembly
of that year TO increase their capital to
$3.50, 100. and asked for n further subscrp-
ton from the State of $4,000, which was
given, on condition. THAT no portion of the
amount authorised to be subscribed by tie
State should be paid until the entire acork
yet TO be done, shall hare been taken by con-
tractors. and bond and good security by
persons resident i'm the State for the faith
ful creation and ccmpietio'a Of the entire
trork shall be given" &c.-sce act Of $50.
Now, | ask, was the condition Of this act
complied with-were Eonds with good Sc
curity for the faithful execution and COM
pletion of the entire work gwen? fthey
were, why have they not been enforced!
But let us proceed. In 1854, this Com
pany. finding that Mr. Thompson's est
mates were still far below the mark.-cren
qcith the addition Of Sl50,0O0 t' their cnpi-
tai given IN Io32-PreSented very earnest
and respectful appeal to the General As
semhly, and succeeded in getting their
charter further amended by increasing
their capital to aI,0D0.OOO, and soliciting n
further subscription from the State of
$1,000 or what IL exactly equal to it. an
endorsement of their bonds for that amount.
Well, this work. the then pet Of the State,
notwithstanding that originally ~ srds TO
cost only S1S5.O00, and to which the State
had already contributed 100000, had only
to ask for further subscription of $500
600 as above stated. and forthwith it is
granted, upon condition (now mark the
cOndition) that the Company would mort
gage to the State all their estate, real and
personal, achich they then had, ,rhich
might hereafter belong TO Them. conditional
for indemnit, ing and saving harmless the
State of North Carolina from the uhote OF
any part Of The bonds authorized to be made
and issued. &c. Now here. should like
to be Informed whether this mortgage was
in good faith executed! If it was. why
does il not bind the entire property Of the
Company as it was intended by the act Of
1854, it should do.-of this, there would be
no doubt, bat that the President in his re-
port to Gov. Bragg of the 9th Drcember
hot M l,a lint mo a
relief are provided by the present Lcgi>la'
ture the scork 1ciH be sold, Sc.''-was there
a prior mortgage which was kept concealed
from the Governor and Attorney General
when they were called upon to approve a
the mortgage and pledge to be given, he
fore the public Treasurer should deliver thu
bond lit looks very much like it-but le
those answer, whose duty it was tO sec tina
the interest of the State was fully protected
At the present session Of the General As
sembly VIC find that this Company comes
again, and asks for additional aid of ab"u
800. 000-Hhich if the Legislature shall
grant will make the total aid given by thu
State Seren Hundred and Sirty THOUSAND
DoLLars!!!-while individuals have only
subscribed one Hundred and Twenty Thou
sand-hoa1 much of this latter sum has ere
been paid in, no ono: knows-fOr from thu
Treasurer's meagre report, no information
can be gleaned-as he presents no genera
statement of the finances of the company
showing the amount subscribed. the amour
paid in, and the amount due. Such state
ment should have accompanied the repor
of the President, and should have been S
full as to have exhibited the true coadat'0
of the financial affairs of the company.
But suppose the Legislature in their wis
dom, shall grant them the additional al
now asked for, will it complete the work
Let US examine this matter little. Th
Engineer, Mr.. Douglass, in his report whic
accompanies the Presidents says, that "a
the locks are all built of GOOD, and will in
short time require rebuilding. l would re
commend commencing Immediately and RI
build them of stone" He says also tina
the frcshets have done much damage to tn
several dams. Isuppose he would like ais
to recommend that the dams should also b
constructed of stone, but that recommends
@;oD ba bald hack until the State he