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

e mountains with no other avanage to themselves than
h mere nope held out of their among them at
future day. To disappont this reasonable eTnecation
now ht have been expended the great
mountain barrier, would prove sore dapp to
them, and would in my opinion be departure from rne
economical policy These routes point in different directions
au equcnty each would business that the
other could not and both would serve as valuable conrhn
tors TO he main line of road of AshviIe.
Would therefore, earnestly recommend that the West
cru N u RalFoad Co. be allowed to construct their road
over 6oh the routes above designated and that the State
con III IN the same proportion as heretofore.
AS every delay in forming these connections will result in
injury TO investments already made suggest no 9th
81 tscIoh upon the progress OF the work than simple
lhIaton as TO the amount of money be paid annually
by the State such limitation being my opinion neces
saIy 10 safe administration of the public finances.
The Att antc and North Carolina Railroad is an unusually
wen constructed work and in successful operation As
was IAe case with others of roads, for the first few years
after complexion it has, yet yielded no dividends to the
Stockholders but the present earnings road as re-
ported TO me: give satisfactory that it will at an
carry Gay be classed among dividend paying roads
lhls Company will as am informed, ask that the State
loan of 100000 with the back interest," amounting to $72
uOo De converted into preferred stock road re-
easeu from the mortgage it in favor of the State
The accedng to such proposal would facilitate the
operations OF the Company and could in any in
Jury to the State reasonable doubt exist that
company would be able to pay per annually on
SD preferred stock, after the present year similar
gocy was pursued towards the North Carolina Railroad
company with marked beneficial sequences.
The report of the Commissioner to examine into the affairs
days, and is herewith transmitted.
The Wilmington and Manchester road in which the State
has small interest, has yet yielded dividends
sequence believed of pecuniarv embarrassmen in
Cured in its construction.
The condition of the other Companies in which the State
IS sockholder will satisfactorily appear from the
following exhibit OF dividends paid by them in the last and
present years
BY n. G: R. r. Co., per cent preferred
stock 1850. :.......................sl 2O,O 600
By and per cent. common stock. 100000
By vii. & Weldon r. R. Co., per cent SIP, e32
Raj CAST R. r. Co., and per cent. 1880 $685. 62
Total dividends paid i'll l859-60, ......... s579 1862
The fact of the Raleigh and CASTOR Railroad Company
paying but four cent dividend in $780,
ed for 6y change of their financial year, which embraces
but eight months of that period
In support Of the policy here ended proper
one 10 De pursued towards our works of internal improve
men no more weighy argument could be offered than the
general dement's resulting from such as have already been
pcca i'll the increased value of real estate The assessed
value of real North Carolina several periods
| named below, is as follows:
o In 1915, s55 in 1896 $5lO2l3l7 in 1850, 255,
$1,000; in 1855, S98 G75, $50 in 1860 $4,000 GOO.
1t thus appears that from 1915 1885, period of twenty
the value of real estate actually decreased while
period of thirty years. From $780, years
the increase has been $40 400 600 Now it will be recoec
ted that most Of works of internal improvement have
| been constructed since the year 1850.
In that year had but $50 miles of railroad and that of
imperfect character, while in the present year
have 834 miles of road in actual operation
The increased value of real estate since 1850, will alone
Results like these will all doubt that the State
pursued wise policy since $780, towards works of this
| character.
AGRICULTURE.
increase in the value of real estate is naturally
companed by improvements in agriculture and an Increase
il the returns of agricultural labor. Amonr the in
eresting evinces the made this branch of
industry and of the spirit manifested III the cultivation
of the SOIL are the agricultural fairs now annually held IN
greatly tend to the dissemination of intelligence and
teal information upon the subject of farming and 1t Is we'll
worthy of your consideration whether they be not deserv
! ing the patronage OF the State.
Further to give direction to individual enterprise would
reGp IiShm of a of
Agriculture with the power to divide the State into agrl-
cultural districts and to make suitable provisions for the
giving of instruction this branch of science. The
ton Of such Board would be attended with thng eX-
pense, and the appropriation OF small amount towards
the salary of teacher III each district aid of individual
county contributions, it confidently believed would
be wise expenditure of the public money.
EDUCATION.
Since the last Session of the Legislature system of
public educaon under the supervision the able and zeal
GUS Superintendent Of Common Schools has been still fur
Their improved its practical operation and attended, per
haps with greater usefulness than at any former period
Under this system the of education in the primary
branches placed within the reach of every child OF the
State
purposes by the Commissioners of the Literary Fund.- in
1852 $lS085O o. and like amount the present year.
By virtue of provision contained in the charter OF the
Bank of North Carolina the Public Treasurer subscribed
for Literary Fund the capital stock of that Bank an
equal the stock belonging to the Fund IN the Bank
of the of North Carolina, the charter of which ex
PRED on January last In order to make payment of the
that officer visited the city of New York and negotiated
temporary loan specie upon highly favorable terms and
presence there This loan has since been paid of by pay
mens upon the stock in the Bank OF the State OF
North Carolina
report from the Commissioners of the Literary Fund
will be laid before you
Our Common School System established in the veal
1870 before which time there instruction impaired
in State the public expense. After experience
twenty years will prove uninerestng to observe the
the influence of this the general inter
ests And while will not be pretended tina
the progress within that period wholly attributable
Common Schools yet must be confessed that the
been mainly Instrumental IN awakening among GU
people lively spirit the subject Of education
The following comparative Statement exhibits with rea
sonable accuracy, the extent of that progress.
s0'S' - c~n 1910 1856
/" Female .......... i
6 Academies and select Schools. al IS
Primary Schools. ................. 63z 4OO
, Whole number of Schools and Coleges,.... III 436
1910 1856
Number of scholars at College,. 1873 ~
7 at Academies and select Schools. 4,39S 1900
at Primary Schools, .l,O OO I6OUU
Whole number of Scholars, ~
Most of our Colleges and High Schools have been esat
shed by under the control of the several d
nominations of christians which fact not TO De regre
ted the natural friends of education are to be oun
among those who are engaged III the auVahcehen' Vi II
llgioI and morals
Before closing with this subject would make brief mel
ton of Military Institutions recently established
Charlotte and Hsboro Though not classed, they NAL
as high as that which obtains in best Colleges II
spectfuy these institutions to your favorable CO
sderation, worthy of the patronage OF the State
q BOUNDARY
An Act of the legislature at its last session. made pr
running and remarkng the boundary line betWet
RU oft a 0Wp