Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-08-23
The Revenue OF the State and her Rail-
roads.
The Norfolk Tirginian, in publishing ex-
tracts from the letter of Colonel FREMONT
to this paper, says

tracts from the letter of Colonel FREMONT
to this paper, says:
"The "great air line is obliged to the Colonel,
and in return will go far towards bringing the
people Of the Old North state close to a MARI ct,
which owes great part of its prosperity 10 LEI
own sons. whose names in large NUMBERS aIcln
the muster roll of our Merchants and mechanics
Exchange"
This is the proper spirit. The attempt
to make the people of Norfolk believe that
the new freight arrangement was INTENDED
or will disadvantageously affect the busl-
ness of that city, can only be done IN the
interest of the Raleigh and CASTOR Kali
road, and in opposition to those great State
lines which seek to receive the tre1ghts
paid by the citizens of the State.
The people of North Carolina have been
very heavily taxed to meet the interest ac
cruing upon the bonds of the State issued
TO promote and build her great works OF
internal Improvement, and must in the fu-
ture pay the accumulated and accumula-
ting interest of the last five or SIX. and OF
the next few, years, as we'll as make Prov
sion for the liquidation of the principal
If the railroads in which she owns a large
interest can earn dividends, the corpora
tons will pay into the State Treasury am
ple means to meet the interest on bonds IS
sued for their completion, and provide q
Sinking Fund to liquidate the bonds them
selves.
The debt incurred by the State in build
ing her great works is large, and IN view OF
rhe IMPOVERISHED condition of our people,
the meagre receipts of the railroads, and
the failure from supposed or actual neces-
sity to pay the interest due on the puohc
debt for several years, no labor should De
spared by those in charge of State roads TO
make the stock of the State valuable at the
shortest possible time. 1t is matter ID
which every citizen of the State is directly
interested, and by patronizlng the roads III
which the State is a stockhOlder, when 1t
can be done upon as favorable terms as
by supporting others, they are indirectly
benettiug themselves. If the interest
mon the State debt must be met by means
of taxation alone, and if the principal IS to
be paid from money raised from the same
,urce, our people will long stagger under
the load. If our State roads are to remal1
Improbable property, deprived even OF the
support of our own people to AID private
generations, the stock owned by the Stat
ia better be disposed Of, even at the ruin
JUS figures which 1t now commands, to pay
as far as possible, the debt contracted Oh
t,eir account. The amount OF the deb
uouidated will be Insignificant, but 1t WI
substract that much from the taxes TO l.
evied upon the labor and property OF til
Linens.
Much of the revenue Of the School Fun
previous to the war was IecelTeu from III
dividends Of the Wilmington and Neldo
.{ai;road. On account of the present en-
oarrassed condition of the Fund, and tn
J present stoppage Of its revenue from tn
, road, our system of Common schools
: which was the boast of the State, has bee
; abandoned, and the poorer children al
- growing up IN ignorance, when their clam
upon the State, and the necessities OF
e free school system of education, are create
r than at any previous time IN the history
t North Carolina. A regular dividend d
e clared by the Wilmington and Weldo
J Railroad would give it renewed life It's IL
1 fuence would be felt in every corner or IL
Y State. and the benefits would be engratte
a on the history of North Carolina IN the Il
y creased industry, intelligence, moral an
e social elevation OF its citizens. SO, to-
S would the ability of the North Carolir
Railroad to declare dividend be felt
: every portion of the State. An eight Pr
cent. dividend upon that road would pa
into the Treasury fully one-third as muc
, as is collected for State purposes under til
= present revenue laws.
d We refer to. these subjects to d
9 fend the course OF our railroad otficia
t in their desire to turn the channels OF Mort
# Carolina trade, so that !the State will T.
r ceive some direct benefit from the enere
e of her citizens and the immense outlay ST
IS has made to provide for them expedition
n means of seeking market with the frui
l. of their labor To do this has been tt
l. only object of the adoption of the ne
er freight arrangements. No design is inten
a ed upon the business Of any locality, NJ
any attempt to divert trade from one pla
rs toanother. Itmerely gives the citizens OF tt
$. State the privilege of preferring her ov
i roads to those owned exclusively by inc
,e viduals, and we believe we have shown re
10 sons which should induce every citizen
IT. the State to take some pains to see and G
d naand, if necessary. that their goods shou
n be sent by the Estate lines"
Donation of Scholarships.
50 We have received circular signed
% Mrs. Benz. @. HOWARD, President of t
20 Southern Relief Association, from whi
e' we learn that the Principal of the Southe
VI Literary Institute. Mrs. George A. HUI
u Mcleod, has renewed a scholarship to ca
Ill of the Southern States for the year col
III uencino September g. 1867.