The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1857-12-16

is reduced, and the more closely the revenue
basis is opproximated. without going below
it. the larger will be the revenue prnduced.
Each year, since i846. there has been an in
creasing surplus, and immense sums have
eben locked up in the Public Treasury 10 the
great injury Of commerce and manu- fartures.
This evil and the necessity Of some policy 10
avert the unjust distribution, has inau gurated
q principle far worse. than fair distribution
Of The iaad itself mean the deposite system,
for which all the Democratic members Of
Congress from this State ielt compelled ta
vote II this deposite be any thing else tham
distribution, il isa policy the most ,angeroust
Ia States rights ever entered on. By IL the!
General Government becomes money lender-
the States, borrowers 0f their own fundS;-.
and as = temptation to frequentan unnfces-.
sary leans, they are not to pay interest. ares
unly morally bound for the reimbursement of
the loan.
! Suppose North Carolina were called upenr
TO .day 10 pas back the slm deposited undbrthes
aet Of l836-lhat sum constitutes her school
fund She would be obliged to restore H. or
repudiate. What wnuld become of her Com;
mon School system in this event? And YETI
according to the principle Of deposit, the event
| is likely and probable. The system is at.
variance with State rights aud State di gnity.
II, however, no interest is TO be charge d, and
the money il never TO be called for and nt to be.
refunded, then democratic paper this
State widely circulated and highly res uesta-
bIe both for the ability with which it is eou.
Quoted and the independence Of its Edi toes.
mean the Wilmington Journal" said
truly. Deposit is the same thing as Di stri-
buti0n"--and TO pretend otherwise is CO yer
and deceit.
But it is said distribution is impracfica5le,
| that the measure is dead and cannot be reviv~
ed. The same may be said Of all measures,
| If no efort be made. But let us see the facts.
Mr. Bennett, of New York, has twice intro
duced distribution bill, not very fair in its
details, into the House Of Representatives.
Once, il am not mistaken, il passed that
body. AT another Session !. commanded a
tie vote. HPresenf. there is no doubt if the
South unite-a bill siii pass. The action Of
North Carolina could produce il in the House
and in the Senate. The non.landhoding
States have majority, and they are vitality
interested to pass this measure and il is not
TO be supposed that the present Chief Mag
isiraie Of the nation, who approves the build-
ing Of the Pacific Rail Road out Of the public
lands. would interpose the executive vote
upon bill fairly distributing among the
several proprietors their common property.
nulhlSs, N, This iine-a .yital question to
ties Of near ten millions Of dollars. She has
a system Of Rail Roads commenced but not
finished, aud which in their incomplete con-
dition will produce no revenue If they keep
up and pay their debts. while the stock Of
some Of them is selling from 25 to so dollars
in the hundred. The taxes upon the people
amount no,o to more than five hundred thou
sand dollars, besides specific debts for which
certain counties have bound themselves, aRd
these taxes must Of necessity be still further
increased. The people cannot for long
time bear this taxation with their limited
/ resources. Within the next two years pro-
vision must be made to pay large amount
Of the principal 81 The debt; and this must
BE- done Nv additional taxation. or a renewed
loan. Tie former is impossible. No Leg
isature would pass tar law 10 draw in one
or tws wears million and halt OF dollars;
and the people could not support il if il we're
rassed. A new loan from Peter 10 pay
Paul is inevitable. The example having sl-
ready been vet. Of borrowing al more than
6 per cent, BY 9 Corporation in the State;
she csnnei hupe 10 issue her bonds at that
interest aud effect sale, and i she issues
them al greater interest. the securities now
aUt will be further deprecated. The people
have then TO l1pk ia the face. taxation
within the neat tw0y rs 0l from SIX TO sew
en- hundred thousand dollars year. How
i il 10 be le,iedl Ia these times Oi panic
and pressure il will be bur,lensolne draft
; upon the hard earnings ofthe people; and
greatly fear il will drive population and pro-
perty out u The State.
10 the friends OF extentiun | would say, can
any sane man suppose that anofher dntar
slil be given by way Vi State aid, TO any work
in prnsre,, or 10 b. beglns Although
strong internal Improvement man myself.
| alsass favorable TO judicious system anu
. earnestly de.lrag 10 Afford TO our farmers
every facility To bring their prniluee to
: market. caannt hope Tor further State AID,
: aud do MI see how the people or their
: representatives can make u Up.
The Rtmsiy.
/ What then do prupcsei propose that
Congress shall withdraw all the public lands
: IN the Trrritoriss from sale for ten years: to
. issue land warrants III sections aud quarter
r sectors, &c., 10 The Gusernorso the several
s states according to their federal population,
/. lnr two hundred millions OF thereabouts, the
: number still remaining undisposed OF 10 the.
: land Siates-perhaps two hundred and nifty
4 millions-whi,h warrants will be subject TO
ale like the soldiers's land warrants and loca.
!. ted when sold by the purchaser. This plan will
. pet rid IL the difficulty abuut one sovereign
]. holding domain 10 the limits Of another, aud
!. about lie taxation of these lands BY the States
!. in which they lie, for the title will remain 10
!. the General Government till the location.
d Tie Trcasurers Of the several States will
!. hold The warrants in market, and new ofer
! will be needed. BY this means immigration
!. will be confined 10 the States. and our pupula.
ton prevented from scattering over the wi'