The progressive farmer and the cotton plant., 1905-03-07

,,red by a second mortgage on the property. Be-
fore the bonds were put on the market, however,
The carpet-baggers came into control and the
average selling price was probably about % cents
or the dollar At this figure compromise offer
vas made in 1879, and renewed year after year,
mill only 252 1000 bonds (held by Schafer
Rros.. of New York; remained outstanding. The
Schafers we're bent on having face value, and for
twenty-five years they have worked to this end
During his administration, Gov. Russell seems to
have entered into league with them, and then the
crisis came An individual cannot State
but one State can sue another. In the furtherance
of their schemes therefore, the Schafers gave ten
bonds to South Dakota, and South Dakota
obtained judgment against North Carolina for the
full amount. This brought negotiations to
stage and ever since the Legislature assembled
propositions and counter propositions have been
passing back and forth. Last week the end came
With face value and interest on face value and
on deferred coupons, the 242 81 900 bonds would
now be worth $663,0OO Instead of this, how
ever last weeks compromise is for only $215,864
representing 25 cents the dollar In 1879, with
interest on this amount since, plus the interest
on the deferred coupons. New bonds are to be
issued in settlement
So ends a painful and puzzling controversy.
The State probably pays all that is justly due the
Schafers-just as her citizens would wish her to
do-while the gentlemen aforesaid would be quite
as well off if they had accepted the compromise
generation ago.
The Reformatory; Child Labor; The Insane; Judges
Salaries.
Somebody has callei this "the age of the child;"
and it is certain that in our time new and prop
er emphasis has been laid the Importance of
saving and training the young. That Legis-
lature did not show itself In fuller sympathy with
this spirit is indeed matter for regret. The re-
formatory measure, after passing the Senate sue
cessfully failed to the gauntlet of the appro-
priations committee, and the movement to i'm
prove factory child labor laws failed utterly.
We shall yet to that 1T is cheaper to
turn the young offender into better path than TO
train him In crime by association with confirmed
criminals. And we shall yet see that 1T IS as wise
to avoid dwarfng an immortal being by tasks he
yond his years as it is to avoid stunting colt or
an OK by working him too young.
Provision for the care of the insane is not
so liberal as it should be; but the Legislature
went about as far as it could go, without bond
issue Whether or not that would have been wise.
We are not prepared to say.
As to the judges salaries, the agitation resulted
in a compromised worthy compromise, it ap-
pears. 1t is important that we have our best
LAWYERS on the bench, but the salaries hereto
fore have been such that frst-class lawyer could
leave the bar only at a sacrifice.
Pretty Good Record, ALI Round.
Even those who are most disposed to criticize
the Legislature must admit that it passed over
good many places for making trouble We have
heard of no rank partisan legisation-hke the
impeachment of the judges seemed to be, for
example. Even more notable is the fact that all
propositions looking to further agitation of the
question, division of school taxes, etc., were
vigorously sat upon.
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