Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1858-10-30
$6,427,O76 $5,ss5,57l
$5,ss5,571
Total
Circulation
854l.6O5


It will be seen from the above statement that the
circulation Of our Banks in 1856, before the great
Commercial crisis that so recently swept over our
country, $541, sos less than the amount Of their
capital We have not the means within, our reach
of ascertaining how the account now stands-but we
hazard nothing in saying that their circulation to-
day. ia Twenty five per cent less than the amount of
their capital. Now why is this SO? Every man
knows that exchange is the life of commerce-it is
the life of Banking institutions and exports not
being sufficient to meet the demands of the commu-
nity the Banks have been compelled to curai their
discounts or to be drained Of every dollar of specie
in their vaults. Has the State no interest in these
things? Has she no money to pay in New York
Has she no use for exchange?--go ask the {" Treas
urer of the State"
If this road from Fayetteville to the Coal Fields is
built it will add at least 33s if not 30 per cent to
our exchanges; it will give stimulus to. every
branch of business. The most important interest of
the State depends upon its competion-build that
road and increase the wealth Of North Carolina more
than four old-its beneficial effects will pervade the
whole community and put new aspect on society.
The attention Of the general government is already
directed to these coal fields, and if there was any
means to connect them with the world-n other
words, if there was any means of transportation
there is but little doubt but it would be selected as
the site for the "National Foundry" now talked of
in Congress. The amount of money that would be
spent there by the General Government alone would
we'll satisfy the State in extending to this road the
aid they ask, and even if the "National Foundry"
should be located in some other State the completion
of this road would furnish to the 1" United States
Arsenal" at Fayetteville, coal at such convenient
rates as would justify the General Government in
making it an Arsenal of Construction" which
would be equally advantageous as the Foundry
There is one thing that is self evident, this road
has advantages that be claimed for no other
scheme that has ever beenaprojected in the State,
and see how small the amount that is required to
secure it. The company have already completed
and laid the Iron twelve miles of the road, they
have fifteen additional miles graded. ii is graded
ask the Legislature to authorize the Public Treas
urer to issue to the Company Six Hundred Thou
sand Dollars of the Bonds of the State, and take
mortgage upon the entire road to secure the pay
ment Of the bonds and the interest; the Company
giving to the State their bonds bearing interest and
payable at the same time and place as the State
bonds are payable, the company to pay the interest
from the start The citizens of Fayetteville, and
the County of Cumberland, in their individual
about Four Hundred Thousand Dollars, and they
are willing to pledge that Four Hundred Thousand
with the entire road, costing about one million of
dollars security to the State for the loan of her
credit for Six Hundred Thousand Dollars They do
not ask to tao the State one cent We do not be.
heved the State will be called upon to pay ono
dollar, but we will put it on that ground and sup
pose that the State has interest and i'll
ceive any benefit from the road, and that she has
the Bonds and the interest to pay, how does the
count then stand? To show that let the following
exhibit from the County of Cumberland speak for
itself:
Amount paid to the Comptroller of the State by the
Sheriff Of Cumberland County for the year 1857
and 1855