The New York herald., 1871-11-23
NORTH CAROLINA FINANCES,
Governor Caidwell's Message to the
Legislature.
The Debt Of the State Amounts to S34, ,8e7, 460-He
Advises the Sale Of All tho State Interests in
Railroads as Part Liquidation to Credi-
tors-charges Of Wholesale Embez-
element Against 0fficeholdera

| RALEIGH. N c., Nov. 70. 1871.
The Legislature met on Monday, a quorum OF botl
| houses being present. To-day the Governors mes
sage was read and ordered to be printed. The mes
sage Is OF unusual length for the Executive OF
State and fully canvasses the financial, social and
political condition OF the people.
THE DEBT OF THE STATE
Is asceraned to be, in round 1gures S34 ls4 IS
or TINS the ante-war and debt proper Is 3lo 760
Besides this there were issued, under acts passed
prior to the war In aid OF internal improvements,
So 557,700 bonds issued since the war to fund ac-
crued interest and past due bonds, sA,sS37sI
The above comprises oil OF the debt contracted
under acts authorized by the Legislature when that
boly represented the tax paying people. The remain.
der, $1e Os6, go 49, were railroad appropriations
1or which bonds were issued by the carpetbag Leg.
isature III lS675s under the disastrous admnistra-
tion Of Governor Holden, and for VIII ch the State
never received $50o,O1o worth OF value upon this
amount OF debt
Governor Caldwell recently admitted that the peo.
Pile are wholly unable 10 bear the taxation neces-
sary under the constitution to meet the amount of
interest Reputation he considers FAR from the
minds OF the people, ana, while acknowledging
that It would be IN vain for the public creditor to
hue the State III that event, he advises selemcn mt
and creditor.
lie recommends the sale OF all interests owned by
po!ntment o com mission TO report upon all tne
facts connected with the DEBT In order thai some
conclusion may he arrived al as TO The proper dis.
position 10 De made OF the liabilities oil the state
The Governor SAYS
"REPrpiATIoN or Orr CONTRACTS
In any shape would leave sucA o STAN on our con.
science and our honor, and would brng such
alsgIace, and directly aud Indirectly innict sucn an
injury on our people, collectively ali individually,
thai i have felt IL my duty to state
al the dimcultles Of the financial situation
with the utmost lrankness, In order TO show the
~slt lar Ia nI
fun extent OF cur Obligations and then manfulIy
address ourselves to the task or ful1Ilng them in
The most praciicable manner, which Will commend
itsef 10 tue WISDOM cool sense and integrity oil the
people OF The state. II the General Assembly shall
see III 10 authorize Inc appointment OF commls-
sion, us above suggested, II may be advisable TO
defer maturing any financial plan until .ner report
snaii be presented, and perhaps by that time such
renewed prosperity NAV In Inc providence OF Goi
be voachsaied TO US as win demonstrate our ability
TO meet all Just demands and muse into our
people the disposition to bring BACK 10 North
Carolina her ancient proud financial reputation -
The remainder OF the message refers to matters OF
nnieiy local interesI, ana which have little or no
foiowing close upon The Executive remarks IN
fe.a,ion 10 the de0t the Appended preamble and
resolutions, which were inirodnced Ia ,he Uomse
aiil referred 70 the Committee FiuaDce VIII lie a
hue Startling TO bondnosers as more express,ye of
tle .eehng oI 'he people than any th.ng ,ne Gov.
efnor said:-- w Wv
wsssas ,ss Stat. dsst Is row than the people Of
terdne is creation OF ne app eaten es.v
ss mas,ng ss sSs were so %s.g n .ya % The Les 81.
people of tnc sisio bat Ia iact sraneers
elected unier ae bayones; and whereas these so slei
representatives vo,ei between hrtv m,oas ~
money or the oslensoe Tupose Of building certain Ini
roads, bu with The real pafosc OF enIchn M
aer friends ana whereas oi the enormoas 40 voted
barely hA M lion hss tcsn erusrdeo The
remainder having been whercAs nec,r..
duty clearly inicae PURPOSE rernr lin, ths ah,
and whereas The congress OF tie Lnued states tomoesa
the Icpudiaton o wnt was c.mmUny known al the wsr
The best an hoiicN purpose; therefore, -
Resolved That tne Juaicary Comniee be nstruc,aa n,
AMI introduce early n iay AZ uasih. III
povsa Tor The reputation Of the entire OF Inc slas debt
resolution was adopted la the senate TO-DAY
calling on the Governor Tor all the in.ormatlon IN
his possession regarding the lease o, inc Marin
Carolina .enpa' hs'r"A'i 10 The PeDnsyivanta Oen
la