Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1862-11-28
f$1, 90 PER ANNUM.

ton bill, which will reduce the price about O n
half and some seven or eight others compa-.
| nies have intimated an intention OF following
| their praiseworthy example. We may reason
ably hope that most OF the other mills in the
State can be induced to do likewise. The
| 9ooien factories seem more incorrigibie Some
| If them when asked to furnish their goods Mt
10 per cent, declined entirely, and others agree
| To do so by fixing enormous profits on the cost
of the raw material and then adding the rs per
| cent, on the finished article, making their pro-
hts even greater than before. 1t is greatly to
De regretted that the most useful and to be.
cherished institutions should put them selves
| n position, which will cause them to be sxe>
| Grated by our people on the return of peace
But as the free trade policy oppressed them in
| times of peace, SO they seem determined TO
have nc mercy upon as during the existence
of the war. recommend them to your tender
merces gentlemen, and would respectfully sug
gsst that on adopt such measures as may seem
practicafie for securing snpplies to our own cit
tzens first; and to reduce If possible the price
OF cotton yarn, which is SO essential to supply
ing the hand looms Of our farmers wives.
In relation to oronan stores, will men
ton that nearly year ago, contract was
made by my predecessor, under an act of the
Legislature appropriating $4,000 for the pur-
pose with Messrs. Waterhouse 81 Bow es for
the erection of powder mills. The mo ney was
expended, the mills erected aud soon afterwards
blown up and destroyed. Gov. Clark agreed
TO furnish them the means to start again and
under new contract they have erected other
mills and.are now nearly ready to begin opera>
tons q scale sufficient to make about 1000
pounds per week.
This however, involved an expenditure of
money beyond that appropriated by the act
referred to $4,000 having been advanced
fha nfrocf bx,( arl, o L
myself
Of these sums, the money advanced by Gov.
Clark is to be refunded in four equal annual i'm
stalments, and that by me by rsserying 10 per
cent of the payments (as they became dsel one
powder to be furnished the State. The Con-
.sderate States will furnish the mills with a.
bout 5000 pounds OF nitre per week.
The department has contracted with manufac.
turers in the State for about 800 new rifles per
month, aud arrangements have been made where.
by, after the lst o. January, about 800 old rifles
and mnskets out Of repair will be rendered fit
for service. And it is hoped the department.
will soon be able to keep on hand q supply
for five thousand men. A detailed report Of
the operations of the Adjutant Generals depart.
meat is herewith appended.
The finances of the State will doubtless en-
gage your anxious consideration. aa
The Board of Claims, in pursuance of Ordi-
nance No. 20, Sec. S, passed in December, 1861
have made report showing the debt of the
State On the 30th Sept. 1862 to be $2O,9S3
SCI ,0l, subject to be diminished by the amount
Of the sinking fund; at that time about 5000
600, and the debt due the State from the Con-
federate government. between FIVE and six mil.
lions. Still the State debt is very heavy, and
the interest at least ought TO be punetually
paid. There are tnree distinct modes of sup
plying the requisite sum; one by taxation,
second by an additional issue of treasury notes,
ard third b. getting from the Confederate
Government the sum due the State. Indeed
this sum, when recsiyed, ought to be applied
forthwith TO the extinguishment Of the debt of
the State as far as it will go; for it constitutes
part of the capital of the State debt; and
ought to be applied, when returned, towards
the extinction Of that amount of its capital. Upon
correct principles therefore of financial economy
the debt ought not to be allowed to grow any
larger, if practicable to prevent it. And if the
payment of the entire amount of inter est cam
not be provided for by taxation, as much at
least, as possible ought to be raised. In !
regard to the subject Of taxation, Interesting at
all times, and rendered doubly so at this event.
full crisis have but few remarks TO make
There has been such disturbance in the indus
trial pursuits Of the country within a very re.t
cent period, that it is difficult for one who may
not at once have been present in all parts OF
the State 10 fully realize it, You bring with !
you this knowledge. and can better apply i'd
fro tt,a aa t.