Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1866-11-01
Our Railroads.

In urging upon the people OF the State
, the great necessity of completing our I'M
finished Railroads. and especially those in
} tended to connect Tennessee with the
ocean. through this State. in the course of
a very sensible article, the Raleigh Sentinel
remarks
The Wilmington, Charlotte aud Rutherford Rail-
road has been already pushed 80 near to compile
ton that every effort should be- made to effect it,
30 soon as 1t can be done.
We regard this as wholesome advice, and
hope it may meet with the CO ,sideration its
importance demands. The Wilmington,
Charlotte and Rutherford Railroad is
purely North Carolina work. OF all the
Railroads completed or contemplated, this
is the only one which will take produce
from other States and send 1t to the mar
kets of the world through North Carolina
port. The roads already completed, while
they may have done much to develop the
resources Of the State, have accomplished
little i'll building up seaport town or add
ing to the commercial and agricultural I'M
portsnce of North Carolina. These roads
have been so constructed rs to pour the
vast products of our State INTO tho laps of
our neighbors, and in consequence thereof,
Richmond. Petersburg, Norfolk and
Charleston have prospered, while Whining
ton and Newborn have but little more than
supported themselves, langulshnng for the
trade which seeks more advantageous mar
kets elsewhere.
We are not the advocates of attempting
to force commerce out of its natural chan
nels for the benefit of certain roads and
ports. We regard this Us suicidal to tue
best interests OF the country. We must
create these channels through our own
ports, by opening routes that will not only
develop some OF the richest agricultural
districts of our State, but by shortening the
distance. make our own ports the natural
outlets of vast amounts OF produce that
now go to enrich Virginia and South Car
olina, and swell the profits OF their railroad
| lines.
Such road will the Wilmington, Char
lotte and Rutherford Railroad be, when
completed. Running its entire length
through fertile country, and near the Dor
uSI VI OOuuA SdIOlIud, dL IAS IlelSll WHICH,
seeks this route for transportation, must
come to this city for sale OF shipment and
with its contemplated connections with the
West, will form the shortest line from the
Mississippi and Ohio to the Atlantic
To complete this road TO Rutherfordton
it Is estimated will require trn millions Of
dollars. The total value of the road, as it
now stands, IS estimated at eight millions
of dollars. The debts of the road can be
liquidated with less than million apl1 a
half. Surely, then, arrangements can DC
made to borrow the money and complete
the road To DO this. however, the State
must allow the Road IT, issue mortgage
bonds sufficient to pay off the Indebted
ness to the State and finish the work We
cannot believe thata proposition to DO this
will meet with serious opposltion from any
quarter, If the State will not surrender its
| rights as first mortgage, the road will be
forced into a sale. and the stockholders will
lose their entlrs property. and we doubt if
the State would he able to recover It's
| .oan.
! II by means Of these mortgage bonds,
the Rad can be- completed to Rutherford
ton, it IL believed that the corporation. by
its own earnings and by means Of its own
credit. could construct such further extcn-
sions and branches as may he regarded ed
Tantageous and profitable
North Caroline is particularly Interested
IN this work. 1t Is not only peculiarly a
North Carolina road. and the State will not
have to share any OF the benefits derived
from its completion and successful opera
ton with neighboring States, but it will de-
velop the richest agricultural districts of
our OWL The result in the United States
Of building railroads has been that the
lands lying contiguous to then, have
doubled and tripled in value within the
first ten years after the completion of the
roads This fact, added to the commercial
Importance and prosperity given to this
city, will more than repay the State in the
increased value of property any risk she
may incur, however remote in permitting
the company to issue mortgage bonds to
insure the completion of the work.
Such important State matters ms are in
volved in the completion of Our unfinished
lines OF railroad are subjects for The first,
most careful and serious attention Of our
Legislature. The General Assembly will
have no good excuse to waste its time in
useless political agitation and discussion.-
The members who will urge North Car
olina tile adoption of the Howard amend
ment will not. either for talent or numbers,
claim the serious consideration Of that
body. Unprotected and mncared for by
the General Government, North Carolina
must take care of herself. Her legislation
must be devoted entirely to State interests,
and none are so great or important, in view
of the great wealth of soil and minerals
now lost to the commerce of the world,
that want but the necessary outlets and
transportation to place North Carolina firm
" and surely upon the road to wealth and