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1869-70.] DocuMKNT No. 1. 7
bonds has doubled the fund, which is so much clear gain to
the State and to the cause of learning.
The Board of Education, by authority of law, has disposed
of its stock in the Wilmington and "Weldon Road and
the Wilmington and Manchester Road. The amount re-ceived
for this stock was $158,000. This amount has also
been invested in State bonds, and is now $454,000, yielding
an annual income of $27,240. The amount originally invested
in these Roads, of the deposit money from the general govern-ment
in 1836, was $600,000, for and in behalf of the Literary
Fund of the State. Under the present Constitution these
stocks were vested in the Board of Education ; and the amount
thus realized for them does not fall very far short of the
original investment, while the income is larger and nx)re cer-tain
thau it was at any period from the corporations referred to.
I can not close this part of my message without earnestly
appealing to the General Assembly to aid the Trustees in sus-taining
the University. This time-honored institution should
not, in any event, be neglected. Our young men should be
educated at home. To provide for this in a manner every way
suitable and proper should be a leading object with the Gen-eral
Assembly, as it is with the Trustees of the institution.
INTERNAL IMPROVEMENTS.
I do not deem it necessary to repeat the views expressed iu
my last annual message on the subject of internal improve-ments.
The whole people of the State are committed in prin-ciple,
in interest and in feeling to the various works, whether
completed or in course of construction. All the completed
works are payhig expenses, and oiie of them, at least, in which
the State is largelj' interested, gives promise of a handsome
dividend.
The Nortli (Carolina Rail Road, extending from Goldsbor-ougli
to Charlotte, is the most important work in the State.
With the Atlantic Road, from Morehead City to Goldsborough,
/
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| Title | Page 17 |
| Full Text | 1869-70.] DocuMKNT No. 1. 7 bonds has doubled the fund, which is so much clear gain to the State and to the cause of learning. The Board of Education, by authority of law, has disposed of its stock in the Wilmington and "Weldon Road and the Wilmington and Manchester Road. The amount re-ceived for this stock was $158,000. This amount has also been invested in State bonds, and is now $454,000, yielding an annual income of $27,240. The amount originally invested in these Roads, of the deposit money from the general govern-ment in 1836, was $600,000, for and in behalf of the Literary Fund of the State. Under the present Constitution these stocks were vested in the Board of Education ; and the amount thus realized for them does not fall very far short of the original investment, while the income is larger and nx)re cer-tain thau it was at any period from the corporations referred to. I can not close this part of my message without earnestly appealing to the General Assembly to aid the Trustees in sus-taining the University. This time-honored institution should not, in any event, be neglected. Our young men should be educated at home. To provide for this in a manner every way suitable and proper should be a leading object with the Gen-eral Assembly, as it is with the Trustees of the institution. INTERNAL IMPROVEMENTS. I do not deem it necessary to repeat the views expressed iu my last annual message on the subject of internal improve-ments. The whole people of the State are committed in prin-ciple, in interest and in feeling to the various works, whether completed or in course of construction. All the completed works are payhig expenses, and oiie of them, at least, in which the State is largelj' interested, gives promise of a handsome dividend. The Nortli (Carolina Rail Road, extending from Goldsbor-ougli to Charlotte, is the most important work in the State. With the Atlantic Road, from Morehead City to Goldsborough, / |
