The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1860-11-28

Inc into the affairs OF thus company has Deeh
handed in within the past few days, and y
herewith Transmitted.
The Wilmington and Manchester road, in
which tie State has small interest, has as
vet Welded no dividends, in consequence,
as is believed. Of pecuniary endorsements
incurred in It's construction,
The condition Of the other Companies, in
which the State is stockholder, will more
satisfactorily appear from the following ex-
hbt Of dividends paid hF them in the last
and present years;
ls59-6o.
BY North Carolina Railroad Company,
six y cent. on preferred stock. -. $4,000
BY two and three Il cent on common
stockr... t...s+.....s...,......... l'oVoO ~
Company eight y cent. .......... sala.6sa
Raleigh 4 CASTOR Railroad Company.
four and six i cent,.,..,,....,.t., 9i,s5O $3.50,
Total dividends paid in 1859 60. s579a52
The fact o. the Raleigh & CASTOR Railroad
Company paving but four per cent. dividend
in 1860, is to he accounted for by change
oftheir financial year, which embraces but
eight months of that period.
In support Of the policy here recommend
ed as the proper one to be pursued towards
our works of internal improvement, no more
weighty argument could be offered than the
general benefits resulting from such as have
already been completed. These are every
where to be witnessed, and especially in
the increased value of real estate. The as
sessed value Of real estate in North Carroll
ma, at the several periods named below, is as
follows:
In 1915, 5S,52l ,5l5-Insl8S6, s5l,02l,
3l7-In 1850, s55,6OO, 0OO-ln 1855, s9s,
075, 969-In 1860. sl26. 100000.
1t thus appears .aat from 1915 to 1856. a
period Of twenty years, the value OF our real
estate actually decreased, while there was
only an increase of %, 100000 from 1915 TO
1850, period Of thirty-five years. From
1850 10 1860, ten wears, the increase has
been so. 100000. Now, il will be fecnlect.
ed that most Of our works Of internal i'm
provements have been constructed since The
year 1850.
In that year we had but ESQ miles Of rail-
road, and that Of very imperfect character.
while in the present year we have 85I miles
of road in actual operation.
The increased value Of real estate since
1850, will alone yield revenue, at the pres.
ent rate OF taxation, of SI40,400.
Results like these will remsye ali doubt
that the State has pursued q wise policy, since
1850, towards works OF this character.
AGRIcuLTURE.
An increase ii The value of real estate is
naturally accompanied by improvements in
agriculture and an increase in the returns OF
agricultural labor. Among tie most interest.
Ing evidences of the advance made in this
branch OF our industry, aud q the spirit mani.
tested in the cultivation Of the soil, are the
agricultural fairs now annually held in many
parts Of the State. These assemblies..ot the
people greatly tend 10 the dissemination Of
intelligence and practical information upon
the subject Of farming. and il is well worthy
your consideration whether they De not de-
serving the patronage Of the State
Further TO give direction 10 individual en-.
terprise. would respectfully recommend
the establishment al Board VI Agriculture,
with the power 20 divide the State into Ar
ricBliural districts, aud TO make suitable pro-
visions for the giving II instruction in this
branch Of science. The creation Of such a
Board would be attended with trifiing ex-
pense, aud the appropriation Of 4 small amount
towards the salary Of teacher 10 each dis.
triet, 10 aid Of individual and county contri.
buttons, il is confidently believed. would be
wise expenditure Of the pabiic money.
EDUCATION.
Since the.last Session Of the Legislature,
our system Of public education, under the
supervision Of tie able aud jealous superin.
isndent Of Common Schools, has bern silll
further improved ia it, practical operation,
and attended, perhaps, with greater useful
ness than At any furmer period. Under this
81 sten the means Of edleati0n, in tie prlma.
~ branches, are placed silbin reach Of every
chill in the State.
Taere was Distributed 10 tie several conn.
ties. for school purposes. by tie Com mission.
ers Of the Literary Fund, in 1859, slsO, $50
%, and Ike amuBn, The present year.
By virtue II provision contained III the
charter d tie Bank u North Carolina, the
Public Treasurer subscribed for the Litera
~ Fund. the capital stock u that Bank. an
amount equal 70 The stock belonging to the
Fund 10 tie Bank the STATE u North caro-.
lima, the charter u which expired on the Il;
January last. III order 70 make payment or
the hfst and second iusialment. d the nesly
subscribed stock, thar officer visited the fity
81 NeN Yo-k nd negotiated temporary
loan, - specie, upon highly favorable itfns.
and such u could not have been procured
Otherwise than ~ his presence there. This
loan has been since paid oil By payments
made upon de stock 10 the Bank Of the State
81 North Carolina.
a report from tie Commissioners yf the
Literary Fond will be lad before you.
Oar Common School system MS esfab.
lisbtd il lie year I54D. before which time
there 49, n1iHstrutiivn impaired 10 The state
q he pebble expense. After al experience
Of tstniy years il aiil not prnse uninterest.
ing q observe Tie sEtsut u tie Influence u
this stsifm.upoh tie general interests ~ eIu.
eauan. aud al5is 4 sill not be pretended
that the progress made within that period il
wholly attributable u or Common schools
yet, 4 must BE- cg9iesse that Ties have been
mainly instrumental 10 awakening among