The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1868-08-12

TRANSFORMATION IN d;s.a,. N'eaper
yhat ia I,et.or .,,o, VI, .i.i markets. And,
neonle now a. 'n al e ."ss Tue spirits OF the
fers will Nv, r,nsads T, I'm successive dlsas-
v;cnr,rs a.. H. a.'S n'il We nerVedt to
wS;ch ,r;,, -, e., " oanU success Of
the met ana ,,n,u,,,I, oea;o ieplllns over
turn T,,n,;e,rat;',,, ,';i, oNcr me iu-
wealth and labor towns will srrinT, | ~,
soon we will be ready to wonder n , .,t
lghtness of the burdens we opco On 'ie
dreaded, which in our dcspondrnc ~'1 vi
thought it impossible to bear. VIC
1t may be useful to mention some If tho
railroad lines which will he immcI;,,'%e
promoted by revival of State credit
1st. The Wilmington, Charlotte and Rr,,,
erford Railroad needs cali nj tn finish IL,
line from the Pedec t. Charlotte and fra,,
Liucolnton to the mountains. This win
bring the rich valleys OF the Pedce. the O.,
tawba and their tributaries, in commune,
ton with our greatest seaport city. Au,ho
counties bordering on South Carolina wall
derive new life from the influx of can,toi
necessary to carry on this enterprise and thc
cities OF Wilmington and Charlotte will be
immediately and largely benefited. Tbn
President Of this road, (Col. Cowanl is an.
thority for the statement that his chief and
only obstacle in negotiating the bonds of the
company unendorsed by the State, has been
the default of the State in meeting her inter.
est. Let this obstacle be removed, and We
have at once more money brought into tLr
State for this one enterprise than will be dc.
manded for sustaining our honor.
2. The Western n G. r. r. Co. desires
to pierce the Blue Ridge, open up the unay.
plored resources of the mountain Counties
and connect with the Railway system orthe
Mississippi valley. This will bring throurb
North Carolina, a large portion of the prn.
ducts of that wonderful country and
will form one of the lines over which
after the completion of the Pacific
Railroad, will roll towards the Atlaufi,
ports, the boundless, unimagiuabIe wealth
of China, and India. and the islands uf tha
the great South Sen. 1t is impossible to
conceive tue advantages which Will flow to
tiie counties stretching from Salisbury TO
DacKtoWn' from the introduction Of the mil
lions OF dollars requisite to complete this
road and the subsequent development of
Their resources by giving them means Of
transportation. Yet the bonds obtained
from the State under their charter by this
Company, Can only to limited extent, be
used, while the power heretofore granted
them to borrow money on mortgage has not
been extended at all. Let the State commence
payment OF interest and not only will the
bonds OF the OF the State be available, but
Ii necessary Tor Its completion, large sums
can be raised on mortgage.
The Western Rail Road COMPANY seek 70
bring to Fayetteville. the healouarters Of
navigation on the Cape Fear river, the Itch
trade of the counties bordering on the upper
Yadkin. In doing so they will supply ad-
ditonai communication with the mineral
and metallic deposites OF the Cape Fear val
ley. Restore the credit of the State and
large sums will he at once supplied the
EQUITIES stretching from Surry to Cumberland
than will be required as taxes from the whole
State.
4. The Chatham Rail Road COMPANY are
seekinr to ,leyelope the rreat resources Of
the Deem River Valley. II is a shame that
North Carolina should so lone have poid
tribute to other States and trans. Atlantic.
countries for those valuable and indispensa-
BILE articles coal and iron when incxh,psti-
BILE quantities lie ready for orr use within for.
tv miles of the Capitol. To remove this dis
|
tier of counties from Raleigh TO the South
Carnlina'line, the Convention wisely lent the
credit OF the State. 70 make tins loan CT
fectual, the State must begin to meet her
annual obligations. BY this the taxable
property of our people will he increased
fourfold and new impulse he given by the
introduction OF capital and labor, to the en-
crSles Oh our now respondent ci.lzcns.
1 could name other works of more local
interest, and of great local importance The
| Salem Rail Road, tine Williamson AMI Tar
| boro Rail Road need impcratively the early
restoration of State credit and OF State hon
| or. And large sums are needed by the North
! Carolina, the Wilmington and Weldon, the
| Wilmington and Manchester, the Atlantic
and North Carolina Rail Road, and by the
Albemarle and chesapeake Canal 20. to en-
aoie them 10 repair the losses OF the war; TO
feDniid IN more substantial shape, anu 10
enable them to afford accommodations to
the people ard pay dividends to the State.
As said before, the non-payment OF interest
oy ,he State rs can be proved by The oliiccFs
OF those companies, as well as by common
reason, has blasted their credit. BY thus,
Their negotiations for loans have been &c,
teated. Remove tins obstacle, and they VIII
begln again to be prosperous.
Add to the benefits to the great Internal
Improvement Corporations the restoration
of credit which will ensue to the various mi
ming, manufacturing and other companies,
as well as to individuals, by general revival
of confidence, and it is not too much to
say that the prompt aud regular payment
OF interest of the State debt will be in
stead of hardship. a measure fraucht with