Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1866-11-08

Inc 1actS which we gave on yesterday
from the census OF 1850, of the productions
of this State, compared favorably with
those of our sister States in proportion to
population, yet, rs we stated, in that estis
mate large amount of our marketable OK
ports were not included. The large bust
ness done Ill naval stores, spirits of turpen-
! tine, lumber, shingles, fisheries and our
mining operations, were not included-the
exhibit being confined to agricultural pro
ducts.
1t is not only II matter Of interest and Of
just pride to the people of the State, to-
know the real amount CT the products OF
their skill and industry, and the amount OF
products exported annually out OF
State and its value or income, so as me
some estimate of our trade beyor &, % FORM orr,
It's of the State, and whether IA ,llG nm
is for or against us and b. the o9lahcr
ought to be matter r. Nv much' DuI IL
in view of the ole3" concern especlas'S'
hibit would eA:j'' e to which such an eT-
information lie the State ABROAD 0ucil
especially vas always valuable, but is
become so now, when credit abroad mas
f. so necessary to our recuperatiOn.
- -. estimating the wealth OF the State, or
ather of the people in it, it is not safe SIM
ply to rely upon the assessed value Of the
real estate, chattel and other property pos
sessed by the people. Such an estimate
would place the State at a very low scale
of wealth. Looking solely at that view,
! which is now commonly the case, we may
we'll conclude that we are irTevocably ruin
+ ed by the war. Hence the contrast be
tween our past and present ability to pay
debts or to make wealth is SO discouraging.
!, But in making such an estimate. we have
left entirely ont of view the chief secret and
source of wealth in the State. That is the
labor, the skill and the enterprise of our
y people. The truth is, if we had nothing
left us but these, we should still be in pos
, session of enough to make rs q great and
. prosperous people
| The only real answer to the question,
What is North Carolina worth what cal,
, she pay? for how much can she be trusted?
is to ascertain what is the real value Of the
+ surplus product of the soil, the waters, for
ests, mines, labor, skill, and enterprise Of
our people, and the income of any interests
they have outside Of the State, over and
above what is necessary tosupport our people
and produce these products Having first
ascertained what is the value of the eXpoT-
tations from the State, then ascertain the
value of the imports consumed in the State,
and strike the balance. That will show the
annual nett profits of the State. aud Of
course will determine her ability, except
such portion of the surplus may be IN
. vested in permanent productive values.
which must go to increase the next year,
productive power.
How then can this be ascertained /? Sc
far as we can see, we have no system es-
tablished by law, by which this question
car be solved. The census tables of The
United States furnish an approximate esti-
mate of the products of the State, once in
ten years, but give us no clue to the amount
or value of what Is consumed in the State
The books of the United States Treasury
can inform us Of the amount Of produce cX-
DO rted out of the State to f07'eiq1a ports, but
leave us entirely ignorant of the vast amount
which is exported coastwise and into our
sister States.
Mort b Carolina has always done but lit
tie forei gn business. The bulk of her trade
has been done through the other States
hence the value of her expectations has
never been ascertained, nor can they be APP
proXimately estimated hence, VirQiuia
and South Carolina are credited for cstima-
| ted millions of exports, while North Caro-
| lima is only credited for hundreds of thou
sands. And hence it is, that the balance of
trade in our commerce with the other States
appears to be against us, while nothing short
of a hap-hazard tax tax-bill, based upon the
estimated or assessed value of property
which IS tangible to the eye, enables any
| one to determine the ability of the State or
whether she is advancing or retrogradinc
And, hence, capitalists are left to their ac-
tual experience of the ability of the State
! to pay, by the readiness or dilatorincss Of
the people to bear taxation and to pay
| taxes. It strikes u.s. that some legislation
IS necessary, by which the real productive
power Of the State can be ascertained, and
by which the real gains or increase of wealth
in the State cali be more easily discovered
and made available to the improvement
and support of her credit
The legality of Contracts Adverse 10 P.,bIic
Morality.