Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-04-10

times and worse & coming. I am anxiou
to hear you, whom have always regarded
as man of sense, talk on some subjects
1t seems to me things are getting into
mess
JoNEs-It gives me pleasure to shak
your hand, friend Smith. l know you are
honest, and there are mighty few of tha
class left. The war has demoralized almos
everybody. How are your prospects thi
year?
SMITH-My prospects? Bad enough,
| assure YOU You know the waters over
flowed my low-lands last June. Such
freshet never was known. The water stood
over my land eight day and my corn was
we'll nigh ruined. My uplands, too, were
washed badly. I think the guano 1 put or
them was entirely swept away. Then the
| caterpillar ate up my cottOn-the hands
didn't half work. | made only half crop
of cotton and a third of corn. To pay for
my guano and provisions for my hands
| had to sell my cotton for II cents and the
government took one-fourth of that for
taxes. / had no corn to fatten my meat
| without may be that was blessing, as
the negroes stole all the hogs had tit for
| fatteniug. | don't know how ! am to get
on.
JoNEs-Why don't yon ask your neighbors
to lend you money, to be repaid out of
your next crop?
SMITH-My friend you have been living
in town SO long you don't know how bad
off our people are There isn't a dollar to
be borrowed in the country. I had to sell
my riding horse and take to riding a mule,
in order to raise money enough to pay my
State and county taxes. The county had
to build some bridges and SO the county
taxes were heavy. If the State taxes are
7 L,
you town folks lend US country folks some
money?
JoNEs-Ny dear friend, you forget that
the towns depend on the country people for
living. Ii the farmers cam raise money
they can't patronize the merchants and law
yers and doctors. One-half of our people
will have to go into bankruptcy. -Deweese,
the Bankrupt Register, Is growing rich off
our poor people-so rich, they say he gave
Jim Harris 81, 900 to get off the track and
allow him to run for Congress. As for
our taxes being less hereafter, L fear you
mako great mistake there. Holden says
the people will ratify the new Constitution
and they tell me 1t is very extravagant
one and will cost oceans of money.
SMITH-Have you got copy OF the Con-
stitutiOn ? Suppose we go into my house
and look over it. | am sorry | can't offer
you some refreshments, but we are SO poor
my "old woman says we must live on
meat and bread. | loved the old Union
am d Union man now, and want to get our
State back again as we were before the
war [ have been hoping j could vote
for the new Constitution, SO we could end
this eternal wrangle but if it is going to
be an expensive one, [ can't go it. [ am
not able l can barely feed and Clothe my
family now.
JoNE5-Yes, here is o copy. Let us run
over it, I have been wanting to examine
It myself Shall [ read it or will you?
SMLTH-YOu read, and when you find
anything about expense, we will talk it
over.
JoNEs-reads awhile, then looks up and
says The first thing [ notice is about the
State debt. By Sec. 4, Art V. the Legis-
latuEe must begin right away to levy taxes
to pay interest on the public debt, and l
see, in another part Of the paper that the
Convention has directed what law must be
passed on the subject.
S1IITH-Interest on public debt ! Why,
Jones, can't pay my own interest. L have
Il pile of notes at home on some OF the best
men in the county, and after long dunning
got only $33. How much is the public
debt?
JoNEs-I happen to have in my hand one
of Treasurer Battles Reports. The bonds
dated before the war are So, 906, 500 Those
lated since the war, including 81, 392 000
which, I see by the advertisement Of the
Treasurer in the papers, have been issued
to the Western n. G. r. r. Co., since the
late of the report, So, OIL, 500 The Con-
| vention incurred besides for different pur-
poses debt of Sc, $50, O00--in all, SIS, ,O61,
500.
Then the ordinance orders the funding
| into new bonds of So, 500, 600, interest,"
| This makes S19, ,476, 50O the interest on
| which is 81, 168, 900 per annum. By the
| ordinance we must pay $267, 900 cash, lst
| January, 1869, and 1854, 900 on 1st July,
iSG9-in ell 1851, 900 by next July twelve
| mouths.
! SMITH-Do you mean to say We are to
pay for interest 81, l6S, ,OO0 poor as we are,
| in addition to what we have been paying I
| We can't do it. That will make tax OF 81
on the SlOO value of land.
JoNEs-Certainiy, bnt the Constitution
says so, and the ordinance says SO.
SMITH-Well Who ever heard the like
| But there's one comfort. have four State
bonds dated in 1861 and 1862, one issued
| for the Western n. c.. E. r. Co., one for the
Western, and two for the Wilmington, Char
lotte and Rutherford r. r. Co. [ bought
them during the war and paid for them IN
corn, at old prices. I tried to sell them in
1866, at half price, just as [ did two other
old State bonds I had, in order to stock my
plantation. (You know Fitzpatrick and
Wheeler, together, got all my horses and
provisions.) But the Broker wouldn' t buy
them, even at half price, wouldn't give a
cent, because they are dated since the be-
ginning of the war. [ told him they were
issued under Acts passed before the war,
and had nothing to do with it. He only
laughed at me. Now, if the State pays IN
terest, my bonds can be sold for some
thing.
JoNEs-T am sorry to disappoint you, bu'
your bonds are not mentioned in this ordl
nance No provision is made for anything
dated between May Goth, 1861. and Janu
airy 1st, 1866.
SaurH-Iho dickens you say WHAT,
repudiate my bonds Why, there are
over q million dollars of them held by ouI
own people, while everybody knows all the
old bonds have been sold to the Yankees
a hon, ho1F 1nT- 1On0TnIn don