Appletons' annual cyclopædia and register of important events of the year .. . 542,160 45 Total debt with interest, including special-tax bonds $41,S46,930 45 An act was passed by the Legislature of1874-75 proposing a compromise of the Statedebt, and specifying the manner in which itrshould be effected; but its provisions havenot been carried into execution, as only a fewamong the creditors signified their willingnessto accept the proposed compromise, and thebonds held by them represent so small a por-tion of the debt that it was deemed unadvis-ahle to incur the expense of issuing new bonds,an
Appletons' annual cyclopædia and register of important events of the year .. . 542,160 45 Total debt with interest, including special-tax bonds $41,S46,930 45 An act was passed by the Legislature of1874-75 proposing a compromise of the Statedebt, and specifying the manner in which itrshould be effected; but its provisions havenot been carried into execution, as only a fewamong the creditors signified their willingnessto accept the proposed compromise, and thebonds held by them represent so small a por-tion of the debt that it was deemed unadvis-ahle to incur the expense of issuing new bonds,and laying a special tax on all the taxableproperly in the State for the purpose of pay-ing the interest on such a small amount. The Governor urged on the Legislature the NORTH CAROLINA. 609 necessity of a prompt and decisive action inthis matter, saying: It is very importantthat we should compromise, commute, andsettle the State debt, so that our financial con-dition may be the better known, both at homeand abroad, and our public credit again estab-lished upon a sound STATE SEAL OF NORTH CAROLINA. With a view greatly to increase the materialprosperity of the State, and also to retainwithin her borders the vast sums of moneynow constantly sent abroad for the purchaseof almost all kinds of manufactured Bragden recommended that, withoutabating the protection and favor due to allbrandies of agriculture, the chief source of allwealth, the General Assembly should hold outsuitable inducements to encourage the estab-lishment of other industries both to supply theraw material required and to work it out forUS3, more especially as North Carolina is en-dowed by Nature with almost inexhaustibleresources for the raising of such raw materialsin great variety and abundance. He says: We ou^ht to manufacture and supply ourselveswith a large proportion of our woolen clothes of allkinds, especially of the coarser and more substantialkind. We ought to spin and weave at least
Size: 1610px × 1552px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1800, bookdecade1870, bookidappletonsann, bookyear1876
