The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-02-10

the practice of this department, sanctioned
by all the General Assemblies since 1856.
known among all intelligent men and never
complained Of surely was authorized in
acting in accordance with this settled prac-
tice, unless the Legislature had otherwise
directed.
8. STAMPS AND REGISTRATION.
Lam blamed because accepted the VIII
Iamston 6 Tarboro Railroad mortgage
without its being stamped under the Uni
ted States Internal RevenHe Law.
Again, am blamed because accepted
the Chatham Railroad mortgage without
requiring the, same to he stamped and with
out seeing that it was first actually registered
in the office of the Secretary of State, and
it is animated that Iva. indiscreetly hur-
riedn into premature delivery of bonds
to these companies.
In answering these allegations it is only
necessary to state particularly my action in.
regard to the Chatham railroad mortgage as
the case of the former company is covered
by the same principle. The mortgage of
the Chatham Railroad Company was ten
dcred to me on October 10Th, 1868, over two
months after the ratification of the act au.
ihorizing the issue, which was on August
18th. Application for the bonds of the
WILLIAMSON s. Tarboro' RAILROAD Company,
the President making the certificate required
by law, was not made until November 18th,
nearly three months after the passage of the
law relating to that Company.
These dates showing two months delay
in one case and nearly three months delay
in the other, effectually disprove the allega-
ton that my action has been influenced by
" the voracity, pertinacity and indecent haste
of parties to obtain possession of our bonds
at the very earliest moment" j
When the Chatham Railroad mortgage
was presented and the bonds requested in
exchange for the company bonds, directed
my chief clerk to take it to the Office of the
Secretary of State for registration. The
mortgage was delivered and my chief clerk
was informed that it "would be ready in
half an hour"
Being assured that registration would be
completed in that time, l authorized the ex-
change to be effected.
This transaction was on the eve of nv
departure for my home ON short visit On
my return learned to my surprise that the
registration had not been completed. And
about the latter part of November the mort
gage was returned to me, with the message
that the Secretary of State refused to regis
ter it unless II revenue stamp of $4,000
should he affixed
1t is proper here to mention that the At
torney General had before given ME YER
hal opinion that no stamp was required.
| did not take steps to procure his written
opinion to that effect until this issue was
presented by the Secretary of State Under
this state OF facts l cannot see that can
be justly censnrcd.
1. The mortgage had been delivered for
registration into the Office oil the Secretary
of State, the officers charged with the duty
of registering the same. Ny Clerk reported
that the duty would be performed forth
with.
1t is hardly necessary to observe that, un-
der the laws of the State, the registration
takes effect from the date OF delivery to the
Register
9 Nothing in the action of the Secretary
of State then or previously was calculated
to apprlse Inc of the scruples entertained by
him concerning the omission of Revenue
stamps i'll transactions in which the State
has an interest. have proof of the con-
trary in my own office, as the Secretary has
executed his official bond, Mr. Senator
Sweet heing one of his sureties, emitting to
alfiX theretoa 81 Revenue stamp required
by the law for official bonds.
1t is true that the Attorney General is
of opinion that bonds given hy officers of
the State Government do no. require stamps.
The Secretary, however, seems to think it
his duty not to give heed to the opinion of
l,,,fr Al
decision of MIR. John Z. Ris'ey, Deputy
Commissioner of Internal Revenue, and per-
haps, if consulted, Mr.. Risley may pronounce
the bond of the Secretary OF State illegal
and void.
Now 1have no means of knowing whether
Mr. Risley or Mr.. Coleman is best capable af
giving legal advice. But this much I d.,
know. The Constitution Of North Carolina,
Section IA, Article 3 provides that, Tie
Attorney General shall be, ca ofiieio. the
legal adviser OF the Executive Department
This Constitution | took an oath to sup
port. |, therefore, took an oath to consult
the Attorney General ON doubtful legal
questions relating to the execution ut my
duties.
In this matter of stamping mortgages
received from Railroad Companies, 1 always
acted in accordance with the advice of the
Attorney General, who has been elected by
the people of North Carolina as my Consti-
tutional adviser.
The Attorney General, 10 doubt, has ex-
celIent reasons for the opinion given by
him that mortgage to the State 10y IL
company, with which 1t exchanges bonds.
need not pay clamp tax OF $4,000, out ct
funds all which belong to the State as
mortgage. thus taking State property to pay
taxes to tile General Government. But even
if he be wrong, the interests of the State are
n6tsat all likely to suffer.
In the first place the act itself is statu
tory lien on the property of thelcompany, the
mortgage is only an additional security.
In the next place the stamps can be affixed,
without cost, at any time prior to October
21st, 1869, and afterwards on the payment
of a penalty of fifty dollars. The Presidents
of the several Companies are under agree
ment to pay the amount of the stamps
whenever their liability shall be definitely
ascertained. And thirdly, it has. been de
cided by the Supreme Court Of Massa-
chusetts, and 1t seems to be settled, that the
omission of a stamp does not void deed
unless the omission occurs from intention to
deiraud the Government Indeed the Su-
preme Court of Massachusetts has just de-
cided that the prohibition to receive an I'M
stamped deed in evidence, does not apply to
State, but only to Federal Courts. =.
, Certainly in this matter endeayored to
do my duty acted in the most perfect
good faith, neither swayed by motive of
!, self interest, nor being the dupe of sharp
!, g Railroad men," Until the Constitution,
/, which makes the Attorney General my legal
i adviser, shall be changed, will be COM
! PEELED to follow his instructions on doubtful