Wilmington journal., 1869-02-12

: ~P14i4N' - AVN - - '''i+..,, ~'~HILi'1-
sioner OF luterbal revenue, Washington,
+ u. q, by letter, dated Jan. 'th, I2t3. -
This letter will he found on page 81 Of the
report ond marked ''-} No. = The reply
OF tna C2mml~s:one: J. ''#f-4 Treasury
L?e!'altm"i:f, Once o. aCoErai hsF-nfi,',
9 Naehin" "+"n, Ian. !i.h, 1862 l. W'!l Ia
loQo5 Z" paE4 81 Of tic report 2od marked
3. 40. 1t Is - follows:
II r.lsE 70 Z4E: ~" - l1F 80 i1s;
.i"' tna 1nrli 1 'AE' . '' - S,Ht q ',o'
e., a. lie Iis1a0 ,;e q .nrlIs !epg :tfr ea,.s
lor eV"rr I'VE i:un.ired dollars, or iractiJna part
IEd*ot 7esuts - o. 2oi C2sio Mlt.i1 ia" =
! 1#ib 1Ss5 - : I,ot ia.,'e3 ~, STAT r.;ro+
II TIE l.ossgaeo SECURES $4oG0 go, it raquitts
st4Hlps to tic 4mou!t f $1,000. = P-.4i! i'o
ti.sSal 10 'S"id 1t u0is' au.5 e1ai2@i ri..I n
rN(rirl, H., ~ ;,..,,,.%r,-1t;
John J. Ei,sLFY,
Deputy ""'21a1:--',:'.'s-'
Mi President you wall pardon = little
depression. / cannot withhold roc0gni~
tion oj the patriotism and integrity which
these TRANSACTIONS haVo cvlnced IL the
Secretary OF state. N"rth C1rollna needs
such dislnterest9d services, and her gener-
Gus people will bestow upon him the
plaudIt, 'WeiI done good and faithful SER
Want. lie IS 10 De aQtalreu VINO, having
carefully and conscientlousiy deternllned
| his duty, does not allow personal abuse,
vindictlya attack, malice, hate. or aay of
the oaser passlons OF man to swervo him
tron his honest CONVICTIONS OF dut y.
| Now, THIS act TO amend the charter OF
the Chatham Railroad Company requires
that before the ., ,OOO OOO IN state bonds
are parted with the treasurer shall have
IN his p0SSessto" the mortgage or Tho Com
pany tor -, OUu, OOO upon ali the property
ot the Company between the junction OF
| their koad with the Western tEallroad ana
| Scuth Caroilna State Inc.
Now the law OF common sense would re-
qulre that the Company shoulG OWE at
least some property between those points
! before the execution Of tbs mortgage. A
mortgage IS conveyanca OF properly,
upon condition, as security for the pay nent
! OF q debt, or the performance OF duty,
and to become void upon payment or per
| formance. 1t is q full ana complete con
veyauce CT title, with a proviso, rendering
1t void upon certain conditions 1t con-
veys Il defeasIble title. 1t has usually been
considered necessary for man to otcl
property bet0r0 he can convey 1t. either
/ absolutely or coudltlUnal!y, but in this in
stance the Treasurer OF the State has been
p9rsuaded to accept mortgage literally
upon all the property OF the Chatham Rail
road Company, between the points lAdl-
Gated, whereas, IN truth, as appears from
the testimony OF It's President (see page
IL Of the report) the Chatham Railroad
Company does not own single grain OF
sand between those points. In the Ian
guage Of their President, "the road is not
dehMfeIY located We are now working ca
the fourth line Of survey"
II thus appears, Mr.. President, that II
! this ~ 900 OQO mortgage had been duly
and sufficiently stamped and registered in
the Office Of the Secretary OF State, it would
have been worthless, because purporting
to convey by mortgage deed certain prop
erty which has no existence.
1t is no answer to this objection that the
Company intend to purchase property be-
! Cween those points. would not give
bagatelle Tor title III lee simple to any
mans intention. Death or change OF
purpose may defeat Intention.
| The ownership OF property between the
points designated IS required as condl-
tlon precedent to the mortgage, ana the
mortgage rs condition precedent TO the
POSSESSION OF the State ponds, as well by q
| fair construction OF the act, as by the law
| Of common sense but were there room for
any doubt, the old maxim salns popull
est suprema lex should nave required IT,
! Ide Treasurer ought to nave given the
State, not the Company the benefit of any
doubt he may have entertained. HIS doubts
on the question OF Internal Re7enue
Stamps should have induced HIM to say to
the Chatham Railroad Company " Cen
tlemen having satished ME that THIS mort
! gage covers What II pnrpor's to-prof9IIy
OF your comPany-you must pfouucc TIE
best possible evidence tnat me Internal
! ReVenEe Law OF inc Ohlteu otates ooes
not require Ii 10 ne stamped, ana thHS evil
dence is the opinion Of the Commissioners
! OF Internal heTen"e, Washington u. Z.
In ota>r words he bnon!d nave acted
Just as careioi ana pr@deht man Wooh III
reference to his own affairs. What sane
man would loan money to his nelghbor
upon Il mottE aGa executed by his nelgtpor
upon she plantation o. another Del&aoor..
The attempt 10 enforce Il lien tHG7 sought
to bc created, Wonld De a. ifnltitSa rs Al
attempt 10 reap Tnlri"'n ct fbls II
tho preaon1 character 81 q % VOooo" mort
gage no" on doDosl5 III tAe treasury
81 Il not tune tIat tho representatives. OF
the peo;i" should lntcrpohe their authority
to pro'"ct the interests OF the otate =.
acqui' our treasurer ~ % "oy "oS117 S 20
act III tiCEe matters tb itlt '+lFbItdt3G III