Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-02-20
annARKs 81 M n wirsrEAD,

Or PERsox.
The bill to incorporate the bank Of Roxboro' be-
ing under consideration in the Senate on its second
reading, Mr.. Winstead said,
s. M. Speaker: The people whom have the honor
70 rspre,ent upon this floor would think me un.
faithful in the dischrge Of my duties, if did not
submit some remarks upon this bill. should do
injustice to my feelings if did not say that ], in
common with my constituents have deep interest
in its fate We have been for long while in the
county of Person dependent to some extent upon
Virginia Tor many Of our railroad and banking f.
cilities. Many Of my people begin to look to Vir-
GINA for the facilities which should be offered them
BY their own State Their feelings in consequence
of this have become identified with the interests of
this noble old commonwealth. I desire, Sir, to re-
claim the affections Of my people, and cluster them
around the flag of my own native State.
do not propose, in the remarks shall submit,
to discuss the principles or policy Of banking This,
to my mind, is not now an open question. 1t has
long since been agreed that paper currency was
best suited to the wants and conveniences Of our
people. 1t has also been agreed that we would not
have one bank with many branches, but that we
would have many banks. These things having been
fixed and agreed upon by the action Of former Le-
yislatures are not now open for discussion.
The only question for to discuss is as to the
number Of banks, when they shall be established,
and where located. | assume that our rule of &C
should be to establish banks where the mauac
turing interest of the people makes them needfut,
and locate them where they have the means to take
the stock. This, then, being the rule, the first
question is are We in the county of Person a manu-
featuring people? As strange as it may sound to
many, it is nevertheless true that to very great
extent we are. We grow in my county plant
but little known to many Senator'S 1t was our Gus
tom for long while to ship our tobacco to Virginia.
Richmond and GAINESVILLE, in manufacturing Of 1T.
took much of the profits of our labor. We several
years ago became satisfied of the suicidal policy VIC
were pursuing, and in the last ten years We have
erected some seven eight large factories. We
are now manufacturing almost or quite as much to-
Lacco d. we grow This, we are satisfied, is our
true policy. Many hands, before unfit for the cul
tivaton of it. are made useful and profitable in its
manufacture. We have given employment to all of
our people. When all of our factories are in full
blast We work about fifteen hundred thousand
pounds. This at ten dollars per hundred, and for
the last year have been able to realize something
like this, brings our planters one hundred and fifty
thousand dollars. 1t brings to the manufacturers,
when worked, between three and four hundred thou
sand. For this tobacco we have no market at home.
1t is sent either North or South and when Sold the
proceeds are returned in checks on New York from
fifty dollars upwards Then comes one Of our in.
conveniences in having these checks cashed. And
to receive the money on them we have to travel
some twenty or thirty miles. This would not be so
bad, if they were all received at once bat they
come to hand almost weekly, and to travel weekly
every two weeks twenty thirty miles to receive
their accommodations is a tax upon the time and
means of my people which they are not willing to
bear. To them and to me there is no satisfactory
reason why it should be so. Thus the Senate can
see at glance the loss and expense We are at for
the want Of these facilities. l represent an cner-
getic and perSerering people, and they think they
have no time to lose in this way. These exchanges
when sold to others profitable; hence others by
tie omission Of this Legislature, made rich upon
our labor. There is no good reason why VIC should
should any longer BE- the "hewers Of wood and
drawers OF water" to others. We have been taxed
long enough to build railroads and other convent.
ences in other portions of the State. They have
lent me here, Sir, to demand a matter of right
nd Justice the same facilities in railroads and banks
nat are afforded to others.
have only mentioned our leading manufacturing
.erest We have Others We have some of the
est -four mills in the State. besides several Tan
cries. With q strong inclination the part Of
~ people TO engage in manufacturing pursuits, |
link may therefore safely say, represent to
nne extent manufacturing constituency; an in
rest If We expect our people to become independ-
It, entitled to the fostering Of this Legislature
therefore the needs Of Bank in the county of
'crSOn
The next question is, il the bank is thus estab-
she'd, have We the means TO take the stock! The
,xation Of the county Of Person is as large as any
,unty in the State the counties wherein there
e large towns. 1t will be seen by reference to the
omptroer's report that there are but few counties
rat pay more tax; but few where the people have
money at interest. We are now paying
late tax on between five and six hundred thousand
'llars. We DO not propose to convert all of our
leans into banking, but Only about one third. The
.pital ofthe bank proposed two hundred thousand
la-s-about one third Of our capital. This We
link will give us the necessary convenience in
ing on our exchanges Thus hope it will readily
seen We have manufacturing interest deserving
lie fostering Of this legislature trade worthy
its considerations, and the means to take the
,pltal stock bringing US as humby submit within
nc rule suggested the proper to govern us in
kind OF legislation This being DONE We shall in
; !st on Senators passing the BILL that something may
&c done for this already too long neglected portion
Of the State.
1t has been urged upon this floor that banks are
evils in the country; that they well calculated
to ruin the people. Grant, Sir, that they evils.
Then have only to say that l represent liberal
and generous constituency, that would repudiate
me on my return, if | did not say to this Senate.
that they willing and anxious to bear their pro-
portion of the evils Of the country. 1t has been
MISC Salu tuat raliTOauS WOuu rum the country
My people, Sir, have instructed me to say to you,
that they desired you to ailict them with both Of
these evils And shall contend upon this floor,
that in justice to them, who have paid literally in
the way Of taxes to build railroads in other portions
of the State, that tho State should build road from
Hillsboro, by Roxboro, to the Virginia line in INV
county. 1t is due to US and in justice to them,
demand it on the part of my constituents. W.
want our proportion of the evils that are bearing
hard upon others. You will find on examination
that the people that have been afflicted with banks
are tho afflicted also with railroads. TAX,
your memoranda you will find that well nigh every
county through which they pass there is bank
ard in some more than one.
The only bank bill recommended by the commit
tee on banks, and the only one that this body ha
passed is bill to establish bank in q county
through which the Central Railroad passes, and II
which there IL already bank, with all of its stool
not taken. The two banks will give them NOR
banking capital than they have money in the county