Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-11-27


twenty-six thousand seven hundred and
SIX dollars forty-two cents. 1926, 706, 40
Ihe taxes from several counties remain
unpaid, but we cannot expect more than
seventy five thousand dollars 1915, ,OOO) from
this source.
The estimated probable expenses of the
State government during the present fiscal
year will be, three hundred and seventy
five thousand two hundred and thirty dol
lars 1875, 23O.) Add interest falling due
during the fiscal year of one million thirty
two thousand five hundred and ninety-slz
dollars, Isl, ,032, $3.50, will leave the a1nouu;
to be provided for one million four hun
dred and seven thousand eight hundred
and twenty-six dollars, Isl, 4O7, $3.50. To
meet this the Treasurer will have fifty thou,
sand thirty four dollars and eighty -four
cents ($50,034 81, after paying one hun
dred thousand dollars (S1OO OO0), tempo
rary loan taxes received since Oct LIST,
1868, ninety-five thousand one hundred
and ninety-six dollars and thi:ty-seven
cents 1895. 1876 81; estimated taxes due
seventy five thousand dollars (S75 O0O), pro
ceeds of sale of n. G.. railroad bonds, one
hundred and seventeen thousand six hun
dred dollars (S117 600, making total OF
three hundred and thirty thousand
eight hundred and thirty-o one dollars and
twenty-one ceuts 1887, ,S31 21) Leaving
the amount of one million and sixty nine
thousand nine hundred and ninetY-fOur
dollars and seventy-nine cents Isl ,O69,
994 79) to be provided for by taxation du-
ring the present fiscal year.
The stocks and bonds held by the State
in corporations, and interest due from said
corporations, is as follows Stocks, eight
million five hundred and thirtyfonr thou
! \
Bonds, four million two hundred and
Interest, four hundred and seventy-two
thousand five hundred dollars ($472, 500.
Making total of thirteen million two hun
dred and forty-one thousand dollars ($13,-
41,OOO).
l recommend that some mode be provi-
ded to ensure the payment of this interest,
and of such interest as may be due the
State in future from corporations
The report of the Public Treasurer will
contain full details of the public debt, with
recommendations as to the best means for
providing for interest. I have full conf
dence in that officer, and respectfully COM
mend his statements and views to the con-
sideration of the General Assembly.
The estimated value of all the property
in the State, lands and improvements
included, is two hundred and fifty million
of dollars, ($25O, 600. .O0O) I do not regard
this as an extravagant estimate, but assnm-
ing that it is. and putting it at two hun
dred million, 1920, 900, OO0,) it is clear that
the people of the State are fully able to
carry on their government and at the same
time provide for the payment of the inter
est on their debt. An ad UaLOre1n tax of
one per cent. on two hundred million
would raise two million. At a half per
cent. it would be one million. A citizen
worth five thousand dollars clear Of debt,
would pay twenty five dollars to the State,
in order to raise the million that will be
necessary-and so on in proportion. The
interest on the State debt should be met
promptly and in good faith, and the taxes
necessary to meet it should be levied. The
Constitution which we have all sworn to
support, provides that the public debt
"shall never be questioned" If We hesi-
tate to meet the interest of the debt, or if
we fail from any cause to make due provi-
sion to meet it, we thereby "question p"
the debt, and do violence to our solemn
obligation. I believe that the General
Assembly will impose, and that the people
of the State will cheerfully pay whatever
amount may be necessary to meet the in
terest on the debt. I believe it will be
whether popular or not, it should be done.
The great question for statesman is, what
is right ?-what does duty require under
the circumstances If the answer is, do Il
certain thing, do it, and leave it to time,
events, and n just public judgment to vim
dlcate and sustain the doers.
INTERNAL IMPROVEMENTS.
The people of the State are so fully com
mitted to internal improvements that l
deem it necessary to say but little on the
subject. Since tue close of the rebellion
State aid has been extended to the Will
mington, Charlotte and Rutherfor Road
to the Fayetteville and Western Road-to
the Chatham and Coalfields Road-to the
Marlborough and Williamson Road, and to
the Western North Carolina Road. The
work on the latter Road is being vigorous
ly prosecuted between Mo. canton and
Asheville. A company has been organized,
under an act of the General Assemb.y y at
its last session, for the Western Division
of this Road, and it is expected that dur
ing the coming year the routes will be
surveyed, and much of the work put under
contract. While [ would properly esti-
mate the Importance Of the other improve
ments referred to, could not overstate the
value of the extension west of the Blue
Ridge. These Roads, one to Paint Rock,
and the other to Ducktown, will open to
immigration, and will greatly improve and
benefit region of the State which has
heretofore been neglected, and which is
equal to any in thu world in natural re-
sources. There is no work to which the
people of the State are more fully commit
ted, both by interest and inclination and
[ have every confidence that it is In hands
that will press il to speedy completion.
IMMIGRATION.
The Constitution provides that :" there
shall be established, in the office of Secre-
tary of State, Bureau of Statistics, Ag-
ricnlture, and Immigration, under such
regulations as the General Assembly may
prescribe"
The attention of the General Assembly
is especially invited to that portion of the
report of the Secretary of State herewith
transmitted, which refers to this subject.
No State in the Union presents greater in
ducements than ours does to immigrants.
feel sure the General Assembly concurs
with me as to the Importance of encourag-
ing immigration and trust that body
Will at once adopt such measures on the
subject as 1t may deem practicable and
Qffa.tivo khoir onorafinn WQ hQCo