Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1860-11-29

of half million of dollars and NAV possibv excd +b+
amount. N' P0'''"'I 0A00eu 'ndU
An obvious why our railroads NAV he relied o
l IeasonaDe dividends, when prudently managed al at
e Is TO be found in the fact that they con-
mainly by slave labor which for all purposes not
le4ug mechanical SKILL undoubtedly the cheapest that
can DE employed '"'
e an that furnished by comparison of the cost of onrs
labor. N WIN I" u1n0l0h' hInu OF
great line of road from Beaufort Harbor to Cowana
ch loWh On the Tennessee line distance of 500 miles
~e1 Completed cost $l2 Clio OOO OF this line of road
S miles have been actually completed so miles more lot
70 contract and the remainder l6z miles has been
@ f eSumates made of the cost, that the entire
CosC Oh Inc road when finished may be stated with almost
exact certainty On the other hand find that the Erie
@ sa5 6 6e Hte OF New York, 200 miles in length
cost S3zOOOO0O Or differently stated the cost of or road
VIII De $1,000 while that of the Erie $50 900 per mile
CSar pront on the former of $50 per mile would give
dividend OF per cent while latter it would REQUIRE
nett profit of 81 500 mile to give the DIVIDEND
conn between roads similarly situated will never
la is believed to develop the the superior cheap
s OF save labor when employed in the construction
Financially and socially an important fact for
1t gives the assurance that railroad investments will
contracted for the construction of these works will he f.
naly quidated thereby. have abiding conviction that
debt paid Oft by receipts from railroads. and the roads
selves left unencumbered, yielding richer
State than has heretofore been collected by taxation and
supersedng, entirely, the necessity for taxation.
The fact is an important too, social point view
as eaches U.S. that there proper division Of labor
which wisely observed, will avoid all possible conflict Of
interests and nure to the advantage of ALL This division
|
force rather than exercise mental faculties is re
CURED and the assignment of that field labor demanding
ire employment OF skill and educated reasoning faculties
m p otabe pursuit to the white race where these quail
ties are, mainly and almost exclusively to be found.
The marshaling of labor upon this principle dictated
Is 6elleyed, by sound public policy, tending the
development of that variety of the industrial employment
and the perfection of that mechanical and manufacturing
Skill that go to make up the of State; and to that
harmony Of interests necessary every we'll organized
! society,"
RAILROADS
The State having embarked largely in works of internal
doubtless an interesting subject of your deliberations
the Cape Fear Deep River Navigation Works were
chased for the State by the Governor sale directed BY
purchase paid beyond that debts OF prior
to those for which the State responsible and which
is $34 97O0 and the second mort
to the State is 900, upon which $3.50
est was due at the time Of the sale.
Soon after the SALE the entire works and property the
Company transferred to the State, and have
Many useful repairs have been made under the
this commission and the river been opened for navigation
to the Cult IN the midst of the Coal fields distance of 81
miles The navigation is temporarily suspended in
which, these works will be less LIABLE until substan-
italy rebuilt. report from the Commission giving de-
early day, for which OCCASION will reserve such
suggestions relative to this Improvement | may deem
necessary to its maintenance.
BY the provisions of Act of 1885, the Public
Treasurer was required to deliver to the Abemarle and
State upon the opening of their work for navigation.
In April 1852 made personal examination of that i'm
poVement throughout its entire length and found that it
afforded fair navigation for the class of vessels engaged
inland commerce, which fact being duly certified the
Treasurer by the Board Of Internal Improvements, the
bonds of the State to the named delivered
the Company. This Canal when fully completed, will give
depth OF feet water throughout and uniform width of
IS feet and destined important influence upon
the commerce of very productive section Of the State
Further reference will be made to before your session
terminates
The Fayetteville and Western Railroad is now completed
as am informed, to the Coal fields in Chatham county.
connection between that and the North Carolina Railroad is
much to be desired, respectfully the sub
ject to your favorable consideration.
The Wilmington Charlotte and Rutherford Railroad pro
crossing satisfactorily towards completion and promises
advantages to the public fully commensurate with the g
gantc character OF the undertaking. The many difficulties
already by the Company having in CHARGE a
ford the highest evidences of the energy and enterprise
the people residing country through which
passes and Of the capabilities of that portion State
The eastern division of the road been completed from
point Wilmington the distance of IS miles, and the
western division, from Charlotte, distance of Is miles
The greater part of the remaining portion of the work
der contract and we'll advanced.
am informed that the Company will probably ask fur
ther loan from the State to enable them to complete he
work and all things consldered such request will present
high claims upon your favorable consideration
1t will be recOected that the terms which the pat
ronage of the State has been extended this enterprise
not so favorable those upon which others of lead
ing works of Improvement have been aided. In others
railroad companies thirds of the capital stock has
been taken by the State and liberal loan made afterwards
for the completion of their works. while in the Of this
Company the aid of the State of loan of 5000
per mile of finished road, secured by mortgage all the
Y.
road to The public is considered it is apprehended that
difficult discover satisfactory for making
wide difference between it and the works of sima
character in dispensing the public patronage. In view
which, and the further fact that the mortgage held b.
the State will prove ample security for the loan hereto
made and the that will probably be asked for,
would respectfully, but earnestly recommend, that suc
furher be necessary complete their works
be made the Company Otherwise, it will be driven tt
effect loan upon second mortgage, at great sacrifice
the interests of the stockholders and to the
of the enterprise itself.
The first division of the Western North Carolina rail road
extending from Salisbury Morganton distance of 81
miles, been completed to within eleven miles of its ter
mnaton and the second DIVISION from Morganton to tn
miles, let contract upon which, the grading now being
executed From this point to the present terminus OF tn
road the French Broad River Ashvlle distanc
but 20 miles, the work has not been let to contract be
cause of prohibiting restrictions of the Company Charter
These restrictions interpose serious obstacles to tn
progress this great work and longer subserve
useful purpose therefore, recommend that they be re
moved by the Legislature.
The Importance of such legislation will the fnll
appear when it is borne in mind that the second dlYso
of extends to the Western portal of the Blue Rdg
tunnel and consequently embraces what is known as tn
mountain section, which is by far the most costly part
the work. Now if it be required to fully complete this
vision before letting the work beyond the mountains
cantract that the road lying within the limits OF tn
mountain section, and costing million and halt
dollars will be rendered totally useless, while the dlvso
y beyond the mountains is being constructed.
1t was originally designed to extend this road so as
form connection with the chain of roads passing throug
the State of the Mississippi River, and tn
work progressed to that point when sound poc
indicates the poprety of locating the Western co1necto
and allowing the company progress with the work as th
+ circumstances of the country Will admit.
From the present terminus of the road near Ashve tW
routes ha surveyed the Tennessee ne and bot
found be entirely practicable at comparatively mooe
ate cost The lies in almost due west courses throug
the count IS of HAYWOOD Macon, Jackson and Cherokee
terminating at Cowana Duck TOWN. and the other IN
H. o-Do1,D md TO