Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-07-08
MESA gle OF GOVERNOR z. B. VANCE,

The secret is safe with the woodland grass
MESA E OF GOVERNOR z. B. VANCE:
Gentlemen of the Senate and House Of Commons:
The reasons for my calling you together at such
an unreasonable time and soon after your adjourn
ment will be found in the accompanying able and in
tereiug report of the Public Treasurer. The gravity
of the question: whether considered in reference to its
probable effects upon the finances and credit OF the
State or upon the interest Of the people and the sue
cess Of our common cause, will, trust constitute an
ample apology for my action p calling you together,
in which Ineed not say was unanimously sustained
by the Council of State.
By recent Act of Congress all non-interest
bearing, Confederate Treasury notes were classified
and Limitation put on the time of funding them as
set forth in the accompanying report OF the Public
Treasurer.
By this action, intended to reduce the great volume
Of paper money in circulation by causing it to be
funded the notes of two issues referred to were rem
dered of less value than those issues and though
to that extent it was reputation of them action
would have been necessary the part of the Legis-
lature had the matter ended here. But the Legisa-
ture of the State of Virginia, being then in session.
Immediately provided against these issues being re-
ceived in payment of taxes with view, as was said,
to aid the operation of the Act of Congress by has
tening the funding process.
And soon thereafter the Banks of the city of Rich
mond actuated no doubt by the same patriotic but
declining to receive them, it at
once became matter of serious concern with the
Treasurer and myself whether some legislative action
would not be required in self defence. And if any
were required it must be had soon, as the collection
of taxes begins in July. The Ordinance of the Con-
vention No. IS, Feb. Session, makes it the duty of
the Treasurer to receive these issues but if he
al 70
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 Legs-
lature and the Metropolitan Banks of Virginia had
refused them, would of course have subjected that
officer to the danger of filling the Treasury with notes
greatly deprecated might be. perhaps entirely
uncurrent. There no telling how soon the other
banks Of the country might follow the example of
those of Richmond, nor what action ether States
might take. And Of course it being impossible 10
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 ruin
alike to her creditors her officers and her soldiers
This created responsibility too great to be borne by
the Treasurer without Legislative sanction, and the
matter is therefore submitted to you.
After careful survey of the situation confident
y recommend to you to provide for the continued
cepton OF these notes the safer and more honor
able COURSE So far no State has followed the exam
pie of Virginia, and no banks outside of Richmond
in the whole Confederacy have refused them. Our
example may have most happy influence upon the
contemplated action of others. No more deadly
blow could be stricken our canse than the repu-
diation of our currency, and that the honest, old
fashioned lebpaying 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 mething should regret living to see II
one issue Of Confederate notes he good then all are
good, since the same honor is pledged for their ulti-
mate redemption. 1t is exceedingly dangerous to
take the first step toward dshonorng in the slightest
degree, our enormous volume Of paper currency
The action of one forces the action of another; when
all stood firm, the public credit might be saved
refusal to receive these notes from whatever cause
and however weighty the reason would create anon,
the non-c numerical classes the most general alarm
and even distress, and the want of confidence woult
become universal. The danger can now be stopped
five fail to check it, in my opinion it will be beyoni
remedy.
The suggestions of the Treasurer in regard to thu
manner Of providing against any probable loss ar
well worthy of your consideration, and have n
doubt will have great weight in your deliberations
Desiring to detain you but few days at this bus,
and inconvenent season, refrain from bringing b.
fore you various other matters which might we'll clair
your attention at regular session. will therefor
only call to your notice one more subject. The Presi
dent OF the Confederate States having called upon
for seven thousand militia it becomes important
amend the existing militia laws in certain particular
L both to facilitate their raising and equipment wit
all possible speed and to enlarge the lists of exemp
for the proper State To regard to the
amendments l will take pleasure in consultir
with and assisting your Military Committees.
Permit me to thank yon for your prompt assen
bling at my call and to congratulate you upon Il
improved condition Of our affairs State and Natoua
Since your adjournment our gallant armies have AGA
won great victories and driven back, with saug
ter and confusion the vast forces of the enemy n
danger of suffering for lack Of food has happily pass
away. and the goodness and mercy Of God has visit
us with harvest almost unparalleled, while the gro,
ing crops everywhere promise equal bounteousness.
Let us gather fresh courage from these Divi
blessings, and struggle with renewed strength tor
honor and Independence of the country.
q. B. VANCE.