Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1869-11-25

The annual message Of the governor to
the Legislature of North Carolina, which
assembled in Raleigh on Tuesday last, is
somewhat interesting. The amount Of
State debt On the 1st of October. 1869, is
as follows: Ante war bonds, SS.372.-
200; post war bonds, net special tax. S.
$50. S45-naking $H215, 045 The
post war bonds are suclas have been IS
sued since the rebellion under funding
acts, on such as were authorized by law
before the rebellion This debt is known
as the cold debt" Then there are bonds
issued to railroad companies to tie
amount Of $12 $50 goo which make up
total bonded debt Of 500 S15,045. To
this may be added of bonds not issued
81. $50, 900 making total Of the bond
ed debt and of bonds to be issred Of
S34 095, 045. The singular statement is
made that the interest on the special tax
bonds are the ones issued to railroad com
panies and the payment of the interest
npon them was provided for by special
taxdtion The Governor says it will be
| necessary to fund the interest due upon
the old bonds. He says that the State is
able to pay the interest upon the whole
| debt, aud scouts the idea of Reputation !;
whilst he also says that the debt should
not be increased, and he believes will not
be. We quote !:
1.-The debt is obligatory under both
the old and the new Constitution, and it
has been sanctioned apd its payment will
be sustained as sac4ed duty by the su-
preme court of the State. Under the
| Constitution, and under the decision of
court, which is the highest known to our
| Constitution and laws, the whole property
OF the State is held to meet this debt,
bosh new and old. Let US. then, meet it
like men and North Carolinians Let
every citizen of the State resolve that
nothing shall be done and nothing omitted
which will cas a doubt on our purpose to
pay this debt Governor Holden says a
system Of public schools is nearly ready
to go into operation He warmly com
mends it as we'll as the State University
to the fostering care of the Legislature
This time honored institution" he says,
'should not. 10 any event. be neglected.
Our young men should be educated at
home. TO provide for this in manner
every way suitable and proper should be
leading object With the General Assem-
bly,"
The University really seems to be in a
sound pecuniary condition. The proceeds
of the sale of the land scrip issued by the
General Government to the State yields
an annual income of SIS, go to the Uni
versity. This sum is appropriated to the
department of Agriculture and the Me-
chanic Arts 1t exceeds the entire annui-
ty paid by the State of Virginia to her
| University. The following sentence is
not clear, but seems to indicate a most
unexpectedly prosperous condition Of the
fund of the North Carolina University :
The investment in the State bonds
has doubled the fund, Which is so much
clear gain to the State aud to the cause of
learning"
1t also appears from tits message that
the income OF the Literary Fund of the
State is now larger than it ever was be-
fore
The Governor seems to be friendly to an
extensive system of railroads.
The message alludes to the disturbed
condition of some of the counties of the
State. and asks the Legislature to clothe
! the Governor with power to call out cas-
many substantial white citizens as may be
necessary IN an emergency to enforce the
law and 10 put down these midnight ma
rauders. He gives good reason why ne
groes should be called upon 'v-.y in GER
tain locallii 50
The various public Institutions Of tie
State are commended to the attention Of
he Legislature.
The Governor concludes his messago
with reference to Dational affairs. lie
seems to be in favor Of universal sufirag,
and universal amnesty He says
set the nation show its power every
where to maintain the laws, to punish
those who may resist lis authority, and to
sustain the reconstructed States in secur-
ing to their citizens as thorough freedom
and rs profound peace Gud Qnlot as exist
in ther States but let it at the same time
exhibit that magnanimlty and mercy to-
wards all which, after nine years OF cone
iict, and strife, and ill-will, would so ad
mlrably grace the freess, the proudest, and
the greatest people Oh the face of the
earth"