The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1863-07-07
MESSAGE OF GOVERNOR VANCE.


an unreasonable time, and SO after your ad-
iournment, will be found in the accompanying
able and interesting report of the Public Treasurer
/ The gravity of the question, whether considered
in reference to its probable effects upon the fran-
ces and credit of the State, upon the interest of
the people and the success of our common cause,
will, trust, constitute an apology for my action
in calling you together, in which need not say
was unanimously sustained by the Council of
State
! BY recent act of Congress, all non-interest
bearing Confederate Treasury Notes were classifi-
ed and limitation put the time of funding
them as set foI til in the accompanying report of
the Public Treasurer. BY this action, intended
to reduce the great volume Of paper money in cir
cuaton, by causing it be funded, the notes of the
two issues referred to rendered Of less value
than those Of later issues and though to that ex-
tent it a population of them, no action would
have been necessary the part Of the Legisla-
ture had the matter ended here. But the Legis-
laure of the State Of Virginia, being then in
secret session, Immediately provided against these
issues being received in payment of taxes, with
view, as said, to aid the operation Of the act
of Congress, by fastening the funding process;
and soon thereafter the banks of the city of Rich
mond, actuatcd, no doubt, by the same patriotic
but unfortunate motive declining to receive them,
it at once Became a matter of concern with the
Treasurer and myself whether some Legislative
action would not be required in self-defence, and
fany were required, it must be soon, as the col
lection of the taxes begins in July
The Ordinance Of the Convention, No 35, Feb
ruary Session, makes it the duty of the Treasurer
to receive these issues; but if he invested
with power to ect them it evidently would not
become him to exercise it under circumstances so
different from any contemplated by the trainers of
the Ordinance.
} To continue to receive them after this partial
reputation of Congress, and after the Legislature
and the metropolitan banks Of Virginia had refus-
ed them, would Of sub ject that officer to
the danger of filing the treasury with notes great
ly deprecated, it might be, or perhaps entirely
uncurrent. There was no telling how soon the
other banks1of the country might follow the
ample of those Of Richmond, nor what action other
States might take; and of course it being imposs
ible to fund it all, and announcement to fund any,
so long as it would pass, it might be rushed into
this State and paid into Treasury. Such
result would be ruinous alike to her creditors, her
officers and her soldiers.
This created responsibility too great to be
borne by the Public, Treasurer, without Legs1a-
tive sanction, and the matter is therefore submit
ted to you.
After careful survey Of the situation conf
IDENTIFY recommend you to provide for the continu-
ed reception Of these notes, the safer and more
honorable course. So far no other State has fol-
lowed the example of Virginia, and no Banks out
side of Richmond, in the whole Confederacy, have
refused them. Our example may have a most
happy influence upon the contemplated action of
others. No deadly blow could be stricken
our cause than the Reputation of our currency.
And that the honest ld-fashioned, debt paying
State of North Carolina should be among the first
to dishonor the money paid her citizens for their
substance and her soldiers for their blood is some
thing [ should regret living to see
If one issue Of the Confederate notes be good,
then all are good, since the same honor is pledged
for their redemption. 1t is exceedingly DANCE
to take the first step towards dishonorng, in
the slightest degree, the enormous volume of our
paper currency. The action of one forces the
action of another, when if all stood firm the pub
lie credit might be saved. a refusal to receive
these notes, from whatever cause and however
weighty the reason, would create among the
commercial classes the most general alarm and
even distrust; and the want Of confidence would
become universal. The danger now be stop
ped. If we fail to check it, in my opinion it will
be beyond REMEDY.
The suggestions of the Treasurer in regard to
the manner of providing against any probable loss,
are we'll worthy Of your consideration, and have
no doubt will have great weight in your delibera-
tons. -
Desiring to deain you but few days at this
busy and announcement season, | refrain from
bringing before you various other matters which
night we'll claim your attention at a regular ses
sion. [ will therefore only call to your notice
one more subject.
The President Of the Confederate States having
called upon Inc for 5000 militia it becomes i'm
portrait to revise the existing militia law in GER
tain particulars, both to facilitate their raising
and equipment with all possible speed, and to en-
large the lists of exempts for the proper protec-
ton cf the State. In regard to these amendments
will take pleasure in consulting with and assist
ing your military committees
Permit me to thank you for your prompt as
semblagc at my call, and to congratulate you upon
the improved condition of our affairs State and
tiona
Since you adjourned our gallant armies have
again won great victories, and driven back with
slaughter and confusion the vast forces of the
enemy. The danger Of suffering for the lack Of
food has happily passed away, and the goodness
and mercy of God has visited us with harvest
almost unparalleled, while the growing crops
everywhere promise equal bounteousness:
Let US gather fresh courage from these Divine
blessings, and strugg lie with renewed strength for
the honor and independence Of the country.
Y. B. VANCE.