New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-03-16
LOCAL MISCELLANY.
cn1rrurpN nPRT PROBLEMS.

SOUTHERN DEBT PROBLEMS.
THE NORTH CAROLINA BoSDHoLDERs' COMMITTEE
FAT. TO GIT NEUTRALITY-SUSPICIOUS.
CITY DEBT.
AT n meeting of the North Carolina bond
holders I'm this city yesterday the committee apoh'eu
Dec 81 TO secure adjustment OF the state deDt re-
ported through the chairman, William Best Inc report
states I'm brief that upon reaching Raleigh the commit
tee found that agent OF the movement known as 'e
Bank Presidents Movement" had already been W
Raleigh and that his representations had not ohV
dana ad the cause Of his clients bur- Indirectly were
seriously embarrassing 10 ourselves. Inc ohcers vi ~
State Government and members Of the Legislature De-
ved him 70 be working solely in the interest OF the
holders Of what are designated special tax bonds
He reported that a compromise could De c'cteu on no
following basis For Special Tax Bonds, from DC 10 &C.
on the dollar new bonds. from Zoe to l5c' inc ih's
iss,es from Ice 2Oc; and the 'antc-beum. from
oOc TO 25c The committee found great apathy regard
ing the pnblic debt not only the part "a the state
Government and the Legislature, but also among many
merchants and BANKERS. All admitted however 'h''
the settlement Of the debt would greatly oeh'ht INC
STATE and II plan OF settlement could nave peeh ue
viscd which would not make necessary the ieOIhS Vi
taxes il would have met with universal assent but inc
mere suggestion OF any increase in the rate OF aAtoh'
mr. an advance In the taxable value Of the property, at
once called forth the reply Our people are too poor 10
stand tw
The committee was satisfied that the position Of Gov
Vance. regarding the State dcDt, hau pech m'7"""oi
stood e., least and that he not only desired the settle
ment OF the would do all in his power To enect
it, He promised to sustain. both personally ana
officially" any measure which the committee might re-
mort provided II whiting the abnty OF t1r pcepe
and offered reasonable guarantee OF being acCepted Dy
the holders Of the bonds win one exception however,
far tie committee could ascertain, inc %
of the State either opposed any settlement OF the pnoc
debt neutral upon the question. Inc papc,S ~
the former class Intensely In earnest IN tner OlO-
ston the attitude of the Legislature, the COM
mtice believes that majority of the men'ers wonia
recognized bonds as full basis OF settlement while
large minority wOuld have sustained more iiDera
ur6roslti0n More however than the sum named could
NOT have been carried through both houses, and even
This would have involved a great deal OF 0pl3suOn'
chiefly because OF the decision in the Tresiuehtl con
the fears OF mauY members as 10 WHAT the
effect that decision might be with reference 10 he
Southern states. -,
recommended that renewed efforts be nude TO reac tne
people of North Carolina. and impress IN III
with of the great and STEADILY in 90 ,he
ing importance 30 themselves OF the settlement oi le
public debt: a. Through The newspaper press Oh Ilc
State o. BY the circulation of documents reatlDg se
cialy to this subject and the resources ana money eo
of the products Of the state; 80 by meetings OF the
people In the principal towns aud citirs Tor the purpose
Of hearing The subject discussed its bearings upon Tie
of whole State but especially IN
Walter s. Bragg one OF tie commissioners recently APP
pointed by the Gay Council O MONTGOMERY. Ala to adj
us the citys debts is now in this CITY, where many Oh
bondhoders reside About seven years ago thcre YER
issued T5UO0OO Of Mont Omury City bonds IN ad OF the
South and North Alabama Railroad The city being re-
spOnsibe for payment both OF bonds ana interest," III
proposed that the past due coupons sha DC funded 10
july 1871 and that The holders OF the cliy bonus shai
receive - cent Of the amount due III STOCK Oh the
south North Alabama Railroad Company aud the re
NAMING 10 per cent in 3Oyear nus dated January
1877 interest for the first five years 20 De per cent?
for the five years per cent. and FOR The remaining
! twenty years , per cent. Mr. Bragg has already
! secured sgnatur5s to an agreement tns effect by
holders representing S2jO,ou0 OF these bonds, among
whom are some OF TIE largest owners.