Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-12-24
rREAsueER 1Y.s.zry.,s :. 20 2.

State for what purpose By what authority and at wat
date issued when Que ard amount The amount OF
these bonds 10 S2l 80 900, but 10 this is en-
braced 81 SOC O0O deposited in England as collateral
security Tar the delivery OF cotton, which the State has
contracted 20 Gel yer there. The State has u'chaeed
and has Cd hand probably worth much, al the
price agreed on the dbl we owe in England. The
first class OF bonds mentioned 10 this Exhibit
amounting to $50 600 | DO not Il mentioned in The
reports of m5 predec ss)r. They ever DUE snd |
was not that N were IN existence ultl a
Der of the class were presen ed for payment. At what
tim. they tell due | am unable 10 state rot having
been able TO fnd any entry IN the ctice showing the
date OF their Issue, the number and amount issued
They are registered bonds, ard fnd in The Office
book III which the boders OF these bonds gave receipts
for the scmiannua interest," On which appears tDat
the total amount OF them was S370QOH. Ibe books
show the payment Of $4,000, having unpaid S53,
900.
Sine: the Isl Of January last, have sold 10 the
banks sic per cent. bonds, falling due January lst
1898, at par, 10 the amount Of 81, 665500 il payment
of this amount due to them for temporary looms and
means Of supplying the Treasury in January and
February last sold to the Commissioners OF TIE Sink
ing Fund at par out Of tie class OF bonds TO the
amount of S97950O and to others at an average pre-
MUM OF 81 per cent, to the amount OF Sl26 GOO.
The income Ut the Sinking Fund will probably be
much more than sufficient to pay the boIds falling Cue
in 1864 and 1865.
The Farmers Bank and the Bank Of Washington
say they have invested much OF their means in stocks
their charters authorize them so TO invest The lat
ter bank through its president, assures of the vii
ngness OF the bank receive tie bonds Of the State if its
charter were 30 amended 70 authorize it. The latter
express e3 preference that the debt remain Il but
says il compelled 10 take payment III Confederate cur
rency or the bonds OF the State, that the latter Will be
preferred
made known to tue Bank OF Wa1esb0ro', the Min
ere and Planters Bank and Branches OF the Bank
of CAPE Fear Salem END Washington, IN the early
part OF the year. my redinss 10 lay them III Contder
ale currency the per bonds Of the State, at
lar al their . ion, ana recent y'repeated Tie notice
he Bank Of Wacesbor0 postponed, III tha first IN
stance, maxi any decision, and dos DU respond to
the sec; nd notice One tie ectors OF the III intI5
and Planters Bark has lately assured me thai they
would shortly present the note held by that Bauk, ard
take State bonds and the Branches Vi tie Bank OF
Cape Fear upon second not!ce to Them some weeks
ago. reply that The subject has ocen referred to he
principal Bank from which have received Do answer.
Ali the other Banks have accepted the Stale bonds IN
satisfaction CT the debts due them for temporary loans,
Amounting 81 665 sos the Branch OF the Bank Of
Cape Fear in this city, hlad protest, which was
communicated to you al The EX?a 6esslo1 IL July
last.
Exhibit Z shows the amount Of Treasury notes, fun
dable Isl January, 1866, or fundabe all, which
this department. hos been autl orzed to seua the
thority under which they have been may be ISSUED
their class :; heu releenaoe the amount of each de-
nomination lhoriz to be Issued the amount which
has teen issued, aud the amount which may sill be is
sued. he WHICH the Treasurer is sill authorized
to issue follows:
Notes fuadabie pleasure h.ider. 8 1853 $50
Notes fand.bIe January, 1860, 2,795 $50
Notes Of s., S. and So, not and4b,e, L. $4,000
Notes OF lees denomination than 81, 49, l64 90
81 5g8,629 IS
Since the 18th February last, the Treasury being
amply supplied with Confederate money collected from
the Confederate government and other Sources have
deemed it lntXpedIGnT 10 Increase the Indebtedness OF
the State by The issue OF these notes. excepting where
required do 80, to certain IL possession OF
the enemy under tie set providing t0C tie wives aud
families soldiers The army aid the determinations
less taan dollar, which the Necessities Ot business
eqnred iog change As they all command consider
bic premium Confederate notes, ii | were 10 pay
them to such Cl night prefer them, the whole
OF them would b. exhausted heUre could use the Con
ederate uoaes and the dublS Of the State unnecessarily
increased. This policy viii be cOuilCu1d III utuJe
less your honorable body shall Otherwise direct
As en- Offset to its Indebtedness, the State Eoids the
bonds of the following Corporations, with which she
has exchanged her boDGs:
Western RAILROAD Company, 600 coo
wilmington, Charlotte ana Rutherford Railroad
City Of Raleigh ~ COO
Raleigh and castor Rai,roa, ouapany, LOG, geo
Debt Of Atlantic aid N. y. tanIoad Co, for
loan under &C: OF 1855, 400 zoe
$2e4s,OCO
Also, an unLqoidated claim against the Confederate
government, supposed to about 81 600 0O0
The 81 so 1000 sent to Europe as collateral security
the State should not be considered debt, because
the State cotton supposed to be sufficient pay
the debt.
In this correction il also should be borne III mind that
the Commissioners of the Sinking Fund hold State
stocks the amount Of 81 $40 COO and Confederate
per cent. bonds to the amount OF $30O000 and be-
sides the Interest accrulng this fund.- 1t is being rap
idly increased by dividends IRON railroads.
have endeaVoled to cooperate IN every legitimate
way it'll the Commissioners OF the Fund ID investing
its income The julcious manner in which it has been
managed and lis rapid Increase, derived from large
investments IN works OF internal improvements gives
the best assurance to the holders OF bonds that
they will be punctually paid at moturity, and cons-
tute one Of the Chief clements Ct The high premium
which our bonds command 10 the market. The Com
mssioners Of this fund will probably report you
more fully during your session.
LUNAFIC ASYLUM.
By the act OF the first session CT your hoat rabIs
body the sum of 600 was appropriated to The
support Of the Lurc nc Asylum iJr years 1868 and
1864, provided the aggregate amount for such year
shall not exceed he sum OF $62, $3.50" OH.n" E" he
depreciation of the currency, bis proved u IL
sufficient for the support Of tic Institution, she dats
Of the Executive Commit fer The fiscal jig
September 80, 1863, which have been PAID
20 OOO ard since the Both September 1863 drafts
have been paid to amount Of $4,000 It has hap
pened before that the Treasury has had to take the
sponsibity OF overpaylng the appropriation for the
support of this Institution, and subsequent sessions OF
the General Assembly have ratified sui payments
At period when currency and prices Seranged
it is impossible to make estimates with reasonable ap
Proclamation 10 accuracy and it is bad practice for
che Treasurer to pay money not authorized BY law.
hope the General Assembly will Ell her authorize the
Executive Committee to draw tor such sums they
deem necessary, make such other provisions they
may deem best to avoid the evil.
APPROPRIATION FOB THE SUPPORT OF SOLDIERS