New-York tribune., 1870-11-12

comprcmsed or paid of I not ~ sure ~ w ooV.
Holden's fate lie saerly hated' ana even "ooe'a'"
men insist on his impeachment Tey cou'u ho' "o
w rse thing for their party better Tor tho hepuDh
.n. .s tho uon Tod L. Caldwell. Lieutenant Governor
uoulI ,ucceed him. and while II anything hrmer ke
pub lea H. he belongs to one OF the 0d 'Sies az oid
line Whg man ability and policy nnd carries Win
him the esteem OF many atd respeto' "il' NO man
would more surely build permanent organization OF
.,o ponrhtca, marty than he. Connected Gov. Hol
deu name necessarily s with the most outrageous bond
sy indies this country ever saw. IL wond nave been
he,ter for himself and the party had he resigned. All
n rough the staie these bonds were and are made text
acniust Lin and the Republican party. The facts are.
g. o cO OF bonds issued to construct the Western
Division of The Western N c. Road. This road starts
from Salisbury and 20 Asbeile, thence
the Western Division was To so, one branch
10 Morristown. Tenn, the other TO Ducktown.
Instead OF being issued sections OF 20 miles
pleted-as Louisiana and Alabama have done and
doing-,he whole lump issued and handed to
a man Domsslly and by fraud President OF the Road.
1t is true. the language Of the act allowed this These
bonds were sold in NewYOrk TO the SORROW OF many
man who had confidence in the od-tne honesty OF tho
North State Some OF the money appropriated 10
buy brokendown railroad In Florida, the rest invested
one knows where; the main acors-One In Europe.
the other fugitive from place to pace-enoy their sot
spos Another 81 10000 issued to the Western Rail-
road, and &0cO.OOO to the Wilmington, Charleston and
Rutherford Railroad ised but returned by the
Chatham and Northwestern Railroad on the passage OF
the act which virtually repudiated them. Not single
milo OF the road for which the bonds Issued has
been finished. Contractors who took work have been
ruined and the people who sold them provisions had to
go without nav. Banks that loaned money were less
enent The Western part OF the State-the great strong
hold the White Republican vOte-was the section most
nured hence they declined TO vote for men who were
osensibly identified with this state OF things IL IL as
serted further that bill Of about 900 for the support
! &c, OF Kinks regiment paid out OF the STATE
Treasury from money derived from dividends on tho
North Carolina Road. which money was appropriated 10
the School Fund OF the State but legally belonged to the
bondholders Of the State.
| THE STATE DIET.
The debt Of North Carolina, with interest and such
new bonds as are counted good, is about Ss 10000 The
interest on this is q OsOO00 The special tax debt s
about this IL t720Jc0 This dept
will never be paid In ful If at all, by the state, unless
tho present bOndhOders come forward and advance
money enough TO least grade the roads for which II
was Issued have not the slightest doubt that, other
WISE Il will he utterly and entirely repudsted or offered
for compromise low rate as to be ridiculous For
the old debt the state has 3.0eOo0 In the n C..
Railroad paying per cent, and worth about so cents on
the dollar stock about s3oOooO0 IN W. n C. Railroad.
not yet Of great vaue the road is not completed but
will be equally valuable; stock tsfc0,OO0 In western
Railroad, worth about five cents on the
! dollar, but If the road was in proper hands, and
built 10 Salisbury would DC worth ten times ss much
stock e6oOOO0 the actuu ownership Of the Cape Fear
and Drep River Nav Works stock IA VIII. Char. and
Ruth Railroad abcut s2OC COO as yet without great
value but as the road IL in honest and energetic
/ hands, will be completed and hecome valuable as II
passes through rich country stock In Chatham Rail
road 81 200CO, yet Of small value; stock in n and N
C. Railroad s2ONUN, worth say 10 cents on the dollar
stock in Chesapeake and Alb Canal sOO, mortgage,
think Then some lesser amounts IN plank roads, &c,
utterly worthless We believe, also, the bonds to VII
ams;on and TarborO Road have also been made
from mortgage stock bonds. These, with the inter
est amount to about SIS 100000 The bonds G3,@OOoO
issued 70 build the C. Road though not intended TO be,
arc by the language Of the act mortgage bonds 1t saws
1.-The rolling stock, road bed equipments and earn
ings Of this road shall ever bo hen for the pay
men Of these bonds and tie interest thereon" II is
proposed by the State to sell ont this road to tue
bondboders, dollar OF stock for dollar Of bonds
The taxable value Of the property Of North Carolina Is
not less than s1OOOOOOOo II easily DO soen' there
fore that with other many of revenue there
can be 10 trouble the States honestly meeting her in
terest II she is disposed TO do The people pay the
taxes laid them willingly, but they say they want 20
sec some equivalent for the money spent Plainly, the
curse Of the State and the Republican party in the state
has been a set of migratory cOrmorants who are now
fast leaving unfortunately sOmo OF them leaving biS
unpaid bonds forfeited for deficits IN Their accounts
| North Carolina has moro varied resources than any
Stat of the Union She raises rice, sugar, end cot
ton OF the South corn, wheat and ouek"heat
&C. aud the grasses OF the North Her mineral resources
| are equally varied, but she Rbounds chiefly IN
iron copper. nrgcntfcrous gaena, and eold.
Rubies. diamonds, emeraids' and sapphires
have been found Ler soil and
from her mountains has brought marble that rivals
the Paran In It's wheness and durability. Her soil. not
generally rich viii bear average with any Slate eI
eept The prairie and auval districts and have seen
this week fields Of cotton in her borders equal to any
seen during by months tour in the South II ex
cept the fats of and Big Black Then, too, In
the statistics Of health she far ahead Of any other
State Her wateTpOwers gre unsurpassed, ana
thousands of Of virgin land invite the settler Yet
she behind in the OF imprOvement1 cannot say
now as the past the fault Of her people for had
the public money been honestly spent she wouid per
force have taken the rank she deserves and the slug
CARDS who cling 70 oi-tlme ideas have been pushed
along OF trOdden Oyer or have moved " the Western
Utopia