Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-03-06

trenchment. Ihey own between three and
! TOUR hundred millions in Federal hor''Ia
upon which they draw interest rThos,'
bonds are deposited with Government nr'3
for every 100000 SO deposited. tbev " roI
celve 800, 900 in national bank notes -
These notes constitute their circnIa4;or
and with them they carry on the business
and earn the profits OF banking proper
Inc interest accrulng on their deposited ,
bonds is so much premium paid them ~
addition to the regular earnings of Their
business. They receive the benefit of inst
ninety per cent. more capital than thev
have invested, and this gratuitous preminr1
comes from the pockets of the people. JAS.
tlce requires that this sum amounting to
between twenty and thirty millions ann
ally, be saved to the public. The simnIo
process of recalling the national bank notes
and substituting for the bonds legal ten.
/ ders as banking currency will effect the
i needed result, and another sinkhole for tho
earnings of laborers will be effectualIv
stopped. In the matter OF revenue. fewer
articles could be taxed, and through a moro
perfect and more honest mode of assess
Iient and collection, much larger returns
could be realized. Congressional extrava-
gance and corruption should be reformed.
Investigating committees should be aboI.
| lshed. Land grants and railroad swindles
should be abandoned. The Indian war;.
like the last, should be avoided Tercs.
trial purchases SHOULD be suspended
| Countless other modes of waste and fraud
could be corrected, and portion of the
savings set aside for the final redemD-
ton Of the debt. A sinking fund for this
purpose, made up of bond taxation, the
premium paid the national banks and the
| A e., h.
would redeem every dollar of the debt in
less than twenty years. The way 70 this
! desired end could be opened by the substitu
! ton of legal tenders for the bonds as rar-
idly as may be consistent with safety Mil
lions now paid in interest would thus be
| economical, and, with the aid of re-
stored and producing South, the end OF
our financial troubles would speedily ap.
proach.
CONCLUSION.
Having thus attempted to set forth your
wrongs, and the possibility of remedy,
We now appeal to you to work out the need
ed reformation. Whatever evils may re-
suit from bad government, the people are
the sufferers. Whatever reforms are e1fec-
ted must be brought about by and through
the people themselves. The people have
1t in their power to remove the giant mi
Hu1IlSo WI1O0S SDduOWS uaEh6u the
They have but to speak, and the enemies
Of their peace would be powerless, the dig
nifty Of the Constitution and the laws will
be indicated, and their now imperilled
country rescued from impending danger,
purified and strengthened by its trials, will
resume its MAJ estic march III the paths OF
greatness, happiness and freedom. move
ment has been lnaugurated in this city for
the organization of the friends of law aud
order and honest government, as against
the forces of Radicalsm in West Virginia
The movement will extend to every coun-
ty ; it will find cooperation in every town
ship and school district in the State. We
invite and urge you to join hands in the
great work of political redemption
Other States have taken the lead, and
are already enjoying the first fruits of vic
tory. From Connecticut to California
from the Atlantic to the Pacific, the people
have interchanged the tidings Of deliver
ance, and both oceans have heard their
wild shout Of gladness and triumph. The
Central States of Ohio and Pennsylvania
have responded with glorious deeds that
yet thrill the nation. The Empire State
has arisen with mighty proclamation for
the right, aud the manifestation of her
power, like the rcsistless march of con
quering host, points ont the path of destiny
and bids the nation follow. Already w
hear the footsteps OF approaching political
revolution. 1t is advancing with an energy
that gives assurance of its triumphant
progress even unto the end. Let the
people Of Virginia fall in with the hosts
that move to the rescue of our Government
and its Institutions. While others are
fighting and triumphing, let them, too
participate i'll the struggle and contribute
to the result. We invoke your aid in your
loI I'LL =
ment, and the attendant blessings of jus
tice, liberty aud progress. Unite for the
restoration of your lost prosperity. Labor
for the overthrow of rganized fanaticism,
corruption and folly. Act, act, act for the
sake of peace, Union, freedom and hui
mainly.
RAILROAD MEETING IN MooRE--At
public meeting held at the Court House in
Carthage, on the Goth day OF February,
1868, for the purpose of considering the
propriety of subscribing stock to the Ex-
tension of the Western Railroad as county
subscription, on motion, Col ". y. Rich
ardson was called to the chair, and Hugh
Leach and Richard Street were requested
to act as Secretaries. Whereupon the fol
lowing resolutions were adopted
TSSOLOCu,
county, in public meeting assembled, do recon-
mend TO the justices Of Moore county TO hold an
extra term OF Moore County Court, on tho l4iA
day Of March next, for the purpose OF taking this
matter into consideration and we further recon-
mend to said court to issue county bonds to the
amount of ttcO hundred thousand dollars, piedglnG
the faith of the county for the payment OF the
same provided said road is located from Egypt
along the Cheraw and COalfeds survey to or
the Fayetteville and Western Plank Road, thence
the most approved route to the ASHORE survey
and pledge ourselves to use all honorable
means to carry out and sustain the court in this
great enterprise.
Resolved, That the managers Of the Western
Railroad be requested to send the engineer to cX~
anime the line indicated in the foregoing resOiu-
ton, and to report the same to the next meeting
of the stockholders.
ReSOlred, That the President of this meeting
appoint the following persons to receive subscrp-
tiOns to the extension of the Western Railroad 10
wit : Col. A A. f. seawell, s. NJ. Carter, William
III. Black, William Mcleod and l.. p. Tyson.
ResOloed. That the proceedings of this meeting
be sent to the N. @. Presbyterian for publication,
with the request that the Fayetteville News, RAJ
eigh and Wilmington papers copy the same.
W. i. RICHARDSON, Hhdrnd1'
R R1on'D f s4nlhr, Secretaries.