Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-03-25
Tax ON peep River Coal.

LUG raySttcvuo OUScttct 0ppeafS 10 DC kTCouy
distressed at discovery which it processes to have
made to wit that the late Legislature imposed tax
"on all coal that shall be shipped and conveyed
from the mines on Deep River" And that paper in
sists that the Browning act-the 'positive and in.
iqutous insult" in this matter is that this tax is in
tended to be levied on coal gotten out and transport
ted on the proposed Fayetteville Coalfields Road,
and is to be applied to make good the States loss
on the Deep River improvement" The Observer is
egregiously mstaken-to use no stronger term-as
we shall show.
The facts as follows: The revenue law of
lS54-5, contained 100 sections. Nothing is said in
that law about the tax coal; but at the same
sion an act passed to authorize the Cape Fear
and Deep River Navigation Company to issue bonds,
and for other purposes" Section IL of this pro-
vided for a sinking fund by the Company, to be
based per cenum of the net profits, to be APP
piled to the payment of the bonds authorized to be
issued, as they should fall due; and section 12 pro.
vided that tax of two cents per ton, all coal
that shall be shipped and conveyed from the mines
on Deep River, shall be annually levied" &c.,-to
be also applied to the payment of the principal of
said bonds. This was part of the charter of this
Company and the law at the late session of the
Assembly. [See acts of ls54-5, 20] We have sta
ted the revenue act of 1S54-'5 contained 100 Sec
tons. The present revenue law contains 1873 Sec
tions-the 13lst and 132d being substantially the
1lth and 18th sections Of the Cape Fear and Deep
Rirer act, abore referred to, enacted in 1s54-5.
That is all. [See page 20 Of the pamphlet "Rev.
enue Law, 1867" as printed and sent to the
Clerks and Sheriffs of the different Counties.]E
The only difference is, that the llth and 18th
sections of the Cape Fear and Deep River act
of 1s54-5, have been placed in the present
law, and appear there sections l31 and 1872 And
this transfer was proper for the simple that
this tax is matter Of revenue. 1t is to be levied on
the Cape Fear and Deep River Company, as the pre-
sent revenue law very clearly shows, and not the
Fayetteville Coal6clds Road. Why did the Obser-
YER omit the l3lst section? That, if published
would have explained the whole matter to its read
ers. No, it wanted "crowning act" of capital for
its party-it was anxious to show to produce the
impression that the Fayetteville Road was to be tax
cd for the benefit of the Deep River Company. The
l32d section, by ITSELF is calculated to leave this
impression and hence, the 1slst section was omit
ted. In addition to this however, the Fayetteville
and Western Railroad Company has chartered rights,
which the Legislature neither take oway nor
IMPAIR Is 1t provided in the charter of that Com.
pany that the State may tax the coal which it NAV
"ship and convey?" No. II, then, it was ncccssa.
~ that the Cape Fear and Deep River Company
should assent, it did assent to the tax in this re.
spect imp sed on in 1915, before the tax could
be levied and collected how could such tax or any
tax be imposed on the Railroad Company against
its wish ?-and especially tax for the benefit of
another Company? The idea is absurd. The Oh.
servers article is totally unfoundcd. No tax has
been imposed, and no one has sought to impose
tax on the Railroad Company referred to.
What now becomes of the Observers "crowning
act of the late Legislature?"
We observe that the Wilmington Herald having
been msled by the Observer, is somewhat exercised
an this subject. We may expect the facts from the
Herald, and something like justice in this respect to
the late Legislature; but look for nothing but un.
fair and bitter partzanship at the hands of the OBJ
server.