The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1866-01-30


to her entire debt Her population of one mil
lion people, two-thrls OF whom are of the Anglo
Saxon race, with such a country and such ad-
yantages, will, if necessary, bear the burden OF
tax of Sl,500,000, now little exceeding one
half of one per cent. of their taxable property,
as lightly feather.
But with all this promise of the future, the
present condition Of ourvtax paying people is de-
plorable in the extreme.
The accumulated investments of capital have
been swept away their circulating medium has
suddenly been converted into waste paper
With defective tools of trade, with insufficient
supplies of animal power, with buildings decay
ed and lands deteriorated, with oncrous taxes to
the General government, they are called Oh to
undertake task which has filled the wisest po-
ltical economists with dismay, to teach an igno-
rant race, suddenly emancipated from centuries
of thraldom, to the responsibilities and duties of
free laborers.
The census of 1860 states the value of the
real and personal property of the State at $685.
5000 This is manfesty all error, arising,
as will be seen, from an inspection of the report
of MIR. Kennedy, from the fact that at that time
slaves we're taxed as persons and not as proper
ty and were not estimated in the valuation.-
The following estimate is, l think, substantially
accurate:
The area of the State is about 100000
acres, worth, at SIS per acre, 5e,OOO,OOO. In
1860, the stock, farming utensils, household fur
niture, &c, were of equal value. The number
of slaves were 33l 900, worth, at 5000 each, say
5000, 000,0 600, making the value of the entire
real and personal property of the State in 1860,
$4,000 600 If the labor of the freedmen is
not diminished by the withdrawal of compul-
sion the transfer of its profits from the former
to the laborer, will not affect the wealth
Of the State, however distressing to individuals
But whatever may be the ultimate fate Of the
negro, whether for refusing to bear his part in
the development of the resources OF this great
country he shall be pushed aside, like the To-
dian, by the serner energy of the Caucasian,
or whether he shall maufuly assume the obsa-
tons of free man, it will not be safe until The
experiment shall be fairly tried, to impose taxes
founded on expectations of large returns from
his labor. "A poll tax of moderate amount may
and should be collected, but for the present
these 33l 900 negroes, representing capital Of
$1,000 900, will be to a large extent unaxa-
BILE, nor can their employers, from the profits of
,her labor, be relied on to pay large sums to
the State.
Of the other personal property, the casualties
of war have annihilated at least S50,000,OO0
more, so that now on the most liberal principles
of calculation, the entire real and personal prop
erty of the State, owned by the million white
and colored inhabitants, does not exceed $780,
200 or $3.50 to the head.
From this $3.50, 100000 of property, and from
the polls or male population between the ages
of 21 and rs, is to be derived the revenue to
support the State Government and pay the in
terest on the public debt. The white polls re-
turned In $50 Greene and Martin excepted,
which made no returps) were 65, 138. The COL
ored polls, added to these, will make an aggre-
gate OF 100000. This is greatly below the true
number, but the Sheriffs will probably not find
a larger number able to pay.
The estimate above made does not include all
the losses of North Carolina by the war. The
State had in the service of the Confederate
States about 100000 soldiers, and adding to
these the negroes who deserted their homes, or
were employed in building forti6catiors and 9TH
| er unproductive work, it may be safely est ina
ted that the State was deprived of the labor of
100 900 men for four years, worth at least $780,
100000 beside the deficiencies caused by defec-
tive tools and want of animal power.
Besides, perhaps, $4,000 men lost their lives
or were disabled in service, causing further
loss of producing power of $50, 0u0,0 600 more.
If, however, all the property Of the State ex-
listed as before the war, it is questionable wheth
er large tax should be raised the present year.
The circulation of the Banks of the State in
1861 reached nearly SS,0OO,OO0.
For the last three years Of the war, the only
| currency used was Confederate and State Treas
.ury notes. Most Ct the above notes are worth
less, not even the Bank issues have any value
as circulating medium. A small quantity of
specie, cotton, tobacco and rosin, escaped the
lmpresslng officer, and the ''bummer,'' and the
torch of the incendiary, but the proceeds Of
these have been mostly sent from the State in
| exchange for farming and other utensils, horses
and necessary articles of merchandise, SO that
U. S. currency has only to small extern: re-
placed the loss
Holders Of our obligations have 10 right to
complain that North Carolina chooses to make
survey of her situation, and estimate her as
sets before calling upon her people for the full
measure of her annual obligations With time
to recruit their shattered fortunes they will ere
short while, restore the State to full financial
credit.
In truth, the war is not yet entirely ended -
The shock of arms has ceased and our people
show no disposition to repine at what they con-
slider the act of God, but martial law still pre-
walls; the questions relating 20 the freedmen are
decided before other than State Tribunals the
voice of our representatives cannot yet be heard
| In the National councils. All this is burden
upon our industry and deters from entering our
borders, capital and labor from abroad
1t is impossible TO frame revenue bill until
it be known whether provision shall be made
for the payment Of the interest Oh the public
debt. Hence [ refrain from any recommends
ton on that subject
1t will take time and industry to build I'd
anew cur prosperity, but in my judgement, the
financial difficulties may be alIeviated by the
Il -.