The New York herald., 1871-12-09
RALEIGH, N. o., Nov 20, 1877

RALEIGH, N. o., Nov 20, 1871.
Since the meeting OF the Legislature several I'M
porlant b lis have been introduced, among them Que
to commute, Compound and ADJUST The public deot,
which, IRON ITS popularity among the members,
seems TO be substantially the set led policy ot tnat
body In regard 10 the deot. 1t referred TO The
Finance Comm ttee. rhe first section provldes or
the appointment OF a commission 10 compromise
the State debt ana to substitute III lieu thereo
new stare debt IN pursuance oi The powers and pro.
VISIONS tnis act prescrbes and defines. The second
section provlaes That the deut shall DE called
the
SUBSTITUTED pEgT,
for which bonds shall oe issued under the seal Of
the state, signed by the Governor and counter
signed ty the Treasurer, win appropriate coupons
attached running thirty years from the lst OF July
1872. bearing SIX per cent interest per annum, IN
GOLD, anu navlag printed upon tnein the words
"Substltuted Debt" aud such bOAds shall be Of
the denomination Of $1,000 or $50a The Conmis-
sion is to communicate with the creditors OF
the state ana INFORM ,nen of the inability
oi the people to ulscharse the ouoi.c debt on
account OF Inc III nlnished resources or the state
ana the disastrous results Of late war, bu tuat
they are ANXIOUS and wiling To pay whatever por.
ton oi 1t NAV be within tilelr means and power to
do. The Dill further provides thai the Commission
shall have power TO COMPROMISE nat porloa oI the
deDL contracted piiJr To the 10th o. May 1851, and
tts interest. the creditor shall surrender the Old
bonds, al the rate OF
TnlRTY-TnREE AND oNETnIRD
per cent OF the amount cerLined 10 be due and so
surrendered; that ior a ponds slnce issued under
statutes passed prlor to e 2Utn uf way le6l other
evidence sucn deot surrendered and certified,
bonds snail be .s,ued al the rate twenty-five
per cent oil the amour. specned TO be
due These closes OF bonus incluue
all that porton OIL the state dcuL
tracted prior to The Isl oil January, 1900, wnen
the carpet-bag LII, ,islature met, except The var
deol, winch tue federal government compelled the
STATE 20 repudAte. The Commission Is tuen fully
Instructed to investigate thoroughly all the eircum
slauces at aching % The Issue a any ali bonds
or other evmence ot stae deDt, Jsequenl to Jaau
ars 1000, and whether any moneys were ialsed
unoer sucn UOnus " Ob,is atlvus, ana, IL so, were
they used IN the cousu ucliou oi ANY rauroal or
otner puoiic woik III mnica tae STATE mas AN, In
teiesi. Tlls deot Tie COMMISSION
SIlAL NOT LA u POWER
10 recognize a. Diuuins-tnaJ s, bne SPECIAL tax
DEBT created iur III cral Imp owe cents ~ re-
PUBLICAN Legislature .. Isoo ani 1oy, oaJ .ney may
ascertain w1dt a,odut derived RON Lle specti TAX
aeo' nas been expended acteiii, Upon the iitcrnal
lmlioseLlen,s oi II: state, and Ior me ahiounL SO
eApenueo new uonds "a The STATE may ue Issued
lRE A .E PERCENTAGE
o ne sums sarr-nderei, as pruvid.d in tne second
section tnls Tue bonus 81 ISSUED to uc oi The
dehVninatioh oi eouJ o. SI,J0g. ,ne U.Ii iurtner
Prov ies tldt tue commission shah nave power To
eAchauge auy ani ALI stocns ueiL 10y Tue State IN
the o1,h Iaro,ina kairoal Io.npanJ, or III any
other iaLruad uavi4a.on, nlanula- turing VI otner
hcorpo dte, conpdeJ, lor uonds oi Tue otte issuel
anu Suire"dereu IA pa,nient oi sucn stocN. Alnie
powe,s are gwen tie .oinm'ssioL ,oeiIectua,e Inc
purposes "a the phl. auu III srdtr To prvviie leaS
10 pay me currens interest on c substituted ieDt
SPECIAL tax Vi
ONE-FolRrB rER GET
Is hereby Lived ON AZ taxaoe Property and sub
Jects .. taA.ton urier lue general reveaue law
now N Iorce III b.,e ola,e n.cn uiay ne passed
at tnis ses,lo bne eeial AssealJly. ~ llio uIl
the ue &. ulcn Is uow tnity-iour .nii,iois, VIII DC
reduced 10 ,e,s tnaA SIX uilons. Al ouJec, iuL Is
raised " Tue prosisloa Sncn allows oniy tweaty.
five pr cent or tna class vI oonds lssucu under
acls PASSED suDseude..l 10 me loLi adJ, l,o un
DER auonoIity "a ned pre,.ou, " tnat date. &c
Is Canned tnar ma rll, "a tue uouus oi tne Old
dent. wnica 20 redee ded AZ Tue talrty
three anu ouctnrd pef cent are neid DY Nurtnern
bDnunolutrs, wue te Sc sond class 70 ue relcenled
az tweat,-uvc pr cent. .nos..y nelu =, Iae
people OF ,ne si,te. 20 pi.u ~ nearly every IA
stance Banded cents On tne dollar. ior tleln
ana wao viii
to pay tie new bonus issued 10 redeem ITEM. rus
Is nane tnJas,ee. anu 10 5 Deiicved .at .le uii,
wuicn nearn eVetwu- re inee,s apprvva, Wil Ue
anenied IN tnls IA. icuial. As On The special tax
bonus Issued under aCs pas cd % tho Le4is,atu IS
ol 40 90 tnsJ aie virtually repudated uy tue pcv.
PIE, ana the provisol niads ~ tue pnl Tor tnc pay
,nenl o. tne am ,uat ac,uaJy eApeaaeu III tne con.
sructloD oi ranoids ~ ms,e tnaa many anlci-
pated tuuueh tails am li, wtil Dot excecu e0yJ
A iew oass since set Q. lesolu~ Jus enidnatiag
iroiu fa.iCii .Uhicdl mee,ins, ned III ew ..n-
over coun,y, were lurouaccu asAllp lor tue eXpu.-
sion the lesisi iure Vi ce, tain
ALisa b a,EdDEka DF IitE kI nnUA
then ha,Ing seas III tha, uoiy ,ice tDen similar
sets oI iesoiutioas, exict IN plftreoos, aua lan-
guase, con,ilg rom ne meetings. IA ntnei poiuuns
o. the slate, nave also oecn .uttvauced. aud IN
every Instance rauicdi meAiDess. llcse f-so.u-
tions caar se tnat uunisefso -oyd ana peaceau .
Cit enS tle -tae nave u.eu cfueiiy sCodrscu aiid
biulaly murdered, aud pnat nan,eess eutla ages
have prrpe rated upou ootn In,ics and eaa.es;
that tue iaNs lie STATE nlvc eca SCI al acnalce
by cunsp fa.Vrs wore Il. ssuiaee al .ullni. III,
wno u,ucilsa ascauod ana p-r,u ii
Inc performance lncr u .noy ueslsns, aud
That nauiItUu 4. Zones, "a senator,
L.e mc..ee and +. \. Stud .icA, ncpre,c",aavcs
III tne e-islau.eo OF Nor.h Uaruitna alI oni.ers or
the olaIc Legislature, arc ncnuers ana leaiers OF
Inc sa,d .ouspna,or- muidefers anu .eious wno
tDen norfioe c.Iuies, tleteioro the ,eI.houefs 40
luost earnestly pay tlai oo,h 'ran. ieo ol the
Lvglslaluie III dl.sen,h Li,.u.re ,nlu tne Iacls
aud cNpe, the memUers CHARGED rom re-
Specilve .odes.
upon tue e,l. on Ior exYuslon a consids srao,e
de,atv cnsseu lie insnnetS ctai -eu is being cot
necteI wan the nu Niux iidi-ua.,ty rGpelitng ne
acisst vr as ou. a0d i.fan.ou, sau ,cr. NO
aCtiun Z been Ltkcn u On IL, OFT It's r. 1ptluu
wni ,ertdiils DC + csed oi the sro'nd iin tue
lie lsaluIe mas no rienS ~ mein. ers crinles
aneusea To maze Ocen commit q whea they ro
wl,noul t.at poay. u / woil Su,wa, and the
Iai- ,l.e Al tue .cts al resou iis eraa "a eiC
to sucu d degree ina tDer aulnOIsn.p mas oeeu
EN.aovERsoR BoLDss
at Was InNtoa. no sbni ,nsiute, ~ tue pontIcal
and Iptei Affairs o tne ,.atc ine reso uyiuus
were All ,na,eu iroin sasainstoi', un or d Rovorl-
ment irapK, 10 raicai ,eaucrs IN tne dinereut
eouuties, ali waOm cailed "ieeL.tg, 10 navc tnen
passed acoordanc WIN TIE IA ,.ructlons tnat ac-
culnpanlcu I'll, III
In resp1nse 10 d resolution ul iDluiry askiu1 in-
formation as 10 tlc ARE vi oiilens oI tDis STATE
by Uutcd status troops stdilyHcd IA oaLn Iuro,iia
ana netnel tue uOver"or uad dnen sei,s 70 vindl.
cate tue uisnL, 0. tnc late. nis ,xeeieucy uov-
ernor Ia,d eli traIisnilteu the tuowiug
MESSAGE 40 luE lB,isLAfoHg.
EhIulrfvE DfpsRIHrNrJ
KAIEi.si, ~ GOV. S7l
To Hon. l.. r. " MARRES, Pr sJcn, a, tue Sc
SIR have tn mono. TO acsno~rd- n receipt Of q
resoiunn aioptet tue 90 lvei wbica preside
rtquesting .uruish any
furfna th.t rear ing Ia seizure oi ay
CaruinN uy IooIa OF ousi is, and
the caryiyp beyuah the tue tate aud
their Ipr' without hra ms ani aso Ia orm
bud steps tnc Governor mas taken 10
inlihr. toe and W va oate Tue
deiity IN repy To this resoiuon
have the honor the senate tnat nave
received cunmuDicstDn from persous purpurtins
10 citizenr oi ,eyEn m orminx uic Ina ,eiera