Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-03-04

ENJOY, were not allowed to be funded at any time.
Hence the difference. And tile Same remark applies
also to the notes directed to be issued to raise money
to pay the co. federate tax. They were to be used
for no other purpose nor allowed to- pay any other
debt; but We're, to be cancelled when returned to
the Treasury. Nor is the view Of the majority, that
the notes would have remained in circulation at all
compatible with the fact, that soon after the com.
mencement Of the issue Of 8 per cent bonds, they
rose to premium in the market. Such being the
fact every at all conyersant with such matters
must know that these notes. 10y q fixed and uncon-
trollable law Of currency, would, Immediately after
their issue, return upon the Treasury, andbe funded
And that such was the case with the issues made,
abundantly appears from the evidence filed So that
the interest that the State would have saved, bad
the law been complied with in the gerry letter, as in
sisted by the committee, would have been compare
lively small and tri6ing. But could it have been
carried out literally under the circumstances and
was there no reason for pursuing the course which
was pursued by Mr.. Courtsf His own response TO-
the Legislature, the evidence Of Mr. Lewis, and the
statements of the report itself based thereon, all 60
to show that the delay in procuring the necessary
plates owing to the fall of New Orleans, and that
necessarily incident to the issuing of the notes after
the blanks were obtained rendered it next to lm- |
possible to get the notes out rapidly as the wants
Of the Treasury demanded Our soldiers had to be
paid, and large expenditures had to be made Tor
their clothing and subsistence beside other State
expenses and funds had to be provided for all these
purposes 1t is vain to say that deprecated cur
rency was issued instead of better one.
Mr. Lewis evidence shows that, to our troops IN
Virgins. Confederate Notes were more available
than Treasury Notes. The former would circulate /
there, the latter would moi, or not so WELL 4nd
besides these Notes were not under the ban OF de-
precated currency, the majority seem to supPose
for in point of fact by section q Ordinance 90 all
public dues to the State were payable IN .Coniede
rate Notes. alike With Treasury Notes, bank notes
and gold and silver And of course 1t was intehuea
that such notes should be paid out by the Treasurer
in like manner The truth is, that by the said Or-
dnance it was the intention not to add to the volume
of paper money in circulation, the evils OF when
were known to be great but to raise money Tor the
State at certain rates specified in the Ordinance the
debt to be funded and paid at some distant Gay,
after the end of the war. And the undersigned
can therefore see objection to the course pursued
by the Treasurer in raising the amount at the rate
fixed by the Ordinance. 1t was at last but raising
the amount and funding the debt at the rate OF in
terest fixed by the Convention. 1t may be called q
loan or sale or whatever else one may choose 10
designate it. but this does not change its true char
acter whatever name may have been given to the
transaction Nv the Treasurer, the committee or OH
ers. It NAV have been that different police, and
sale of the bonds in market, would have been the
better policy, and would have saved the State, not
loss as it is put by the report but premium ao
q thereby gam. But, in the opinion of the under
: signed, nothing be more unjust than to censur
a public officer for not adopting course unwarran
ted by law, as admitted by the majority, wnea c
# fault if any, rested not with him but with the ira
g mers of the law. The undersigned has already ez
$ planned the provisions Of the Ordinance ASSUMING
the Confederate and the reasons Tor the actlo
e of the Treasurer in relation to that matter.
Is few words to the exchanges made by pay
ID master Lewis, OF Treasury Notes for Coniedera'
T. Notes and the undersigned will close this report
" Tine evidence of Mr.. Lewis fully explains thes
transactions and furnishes the reasons which lndu
to ed HIM to make the exchanges Hesays they wei
principally as follows:
r. LIST, "To keep the Treasury replenished by hs
Ell ing the bills exchanged by me funded under
er Ordinance of the Convention for that purpose =
1t gave, in my opinion, better circulating curriers'
NJ to nav with, rs Confederate bills passeeverywhe
and State issues were doubtful insome places whe
IN our soldiers were situated" And again, he say
"In conclusion, will add, that the exchanges rel!
he red to we're made by me at an amount OF Toas
'as and risk to myself, which would not have been
tes sumed but for the public good as stated IN answ
nd to question 7th At this time there was gr'
ith daner Of the Treasury becoming exhausted and
led payments 20 the soldiers thereby having to stop
ec- These facts seem to the undersigned fully to
A. onerate Mr. Lewis as we'll es Mr. Courts from
ned censure attempted to be cast upon them or ell
the Of Them on account of this transaction These
hat were not only fundsble, but when SO funded,
at by the provisions OF the Ordinance NO. 90 ress
the bic FROM time to time The wants OF the Ireasu
heir it is also shown were pressing and urgent and
hat for the course pursued must have stopped PAYNE
as as Treasury Notes in sufficient quantities could
.liz have been issued to pay promptly our soldiers,
les meet other heavy expenditures which had TO oe
It to for the State. '
the All Of which is respectfully submitted,
the
from By request, we publish the annexed letter
dressed to the Chairman of The Committee:
ulat. RALEIGH, N. G., Feb. 6, lS6
10th r. Y McAden, Esq,
wide DEAR SlR:-As we have been requested by
d for TO state what occurred between yourself ana
treat Foy last night, we take pleasure in doing so.
them Mr. Foy came to our room about eight ocloc
urer He said he came for the purpose OF examining
from report relative to the Treasurer and other dsbu
the arents and wished to take the report to his
our Mr. McAden preferred that the report should
these amined there to which MI roy old mol ooje
,nabl- The report was handed to Mr. roy. ne care
cent read it over and they compared it with the va
rmed ordinances Of the Convention, and the evidence
( per- with the report and commented on IL. MT.
nded then remarked, that he heartily concurred
prised renort of the committee and said Maj Lewis
testi- to be tnrned out CT his office 10 whlcn MI
made Alden replied; that Maj. Lewis had resigned
s, and Foy then said, he did not see ahy'h ~.o"s
'etiOn report and that he would sign ~ ou' nls'
come to read the defence OF the treasurer. M. A
unit of gave him the opinions OF Messrs. bragg anu
not at and stated he had appended them to the repo
,e sur Mr.. Foy gave no lnunat'oh 'uat NJ "a ~
g the fed in any manner with tne reportol ~. w
in the tee, or that he wanted furtner ume oi
allied or Of any intention to hle q m,nofny
ermed Yours Truly,
les the ~ =. "aiIonn
ned as SAML. o. halSl''0
in the r.. 49, pal.;oh REGISTER
D make - g, cIvxr A,
tn any DEATHS OF oAfIXin a ~o,,cu,Sc RoxA
censur FAITHFUL SERVANT 4u .a,.nco in. real If
thorize REAL LIFE-A touSu.i.s n S chalmers EN-
-heavy forded oy tne ue1.ls n a'd bis fa;thfu, e
t been I Rocklngham county, -. co., ch;dhood NJ
IT. that Mat Reared 'osetnc O.a,La ND frolics
Bonds shared IN all the ooyi.1 hoan hs most CO