Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-07-03
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MESSAGE OF GOVERNOR z. b. VANCE.

MESSACE Of GOVERNOR z. ID. VANCE.
Gentlemen of the Senate and House Of Commons:
The, reasons for my calling you together at such
an unreasonable time and after your ADJOURN
lnent will be found in the accompanying able and III
teresting report of the Public Treasurer The gravity
of the question: whether considered in reference to its
probabe effects upon the finances a1ld 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 in calling you together;
in which need not say unanimously sustained
by the Council of State.
By q recent Act Of Congress all non-lnterest
bearing Confederate Treasury notes were CLASSIFIED
and Limitation put on the time of funding them as
set forth in the accompanying report OF the fuohc
Treasurer.
By this action intended to refuge the great volume
Of paper money in circulation by cauSingtt to be
funded the notes of two issues referred to were rem
dered oess value than those ofater issues and though
TO that extent it was Reputation of them, no action
would have been necessary on the part of the Legs
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-
ceved in payment of taxes with view, as was said,
20 aid the operation of the Act'o Congress by has
tening the funding process
And soon thereafter the Banks Of the city of Rich
mond actuaked no doubt by the same patriotic but
unfortunate motives declining receive them 1t 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-
ventinn, No. 35, Feb Session, makes it the duty of
the Treasurer to receive these issues but if he were
invested with power to reject them it evidently would
not become him to exercise it under circumstances
different from any contemplated by the trainers of the
Ordinance. To continue TO receive them after this
partial reputation of Congress and after the beSS-
lature and the Metropolitan Banks of Virginia had
refused them, would of have subjected that
officer to the danger of filling the Treasury with notes
greatly deprecated it might be- or perhaps entirely
uncurrent. There was 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 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 our Treasury such result would be ruin
Gus alike to her creditors her officers and her soldiers.
This created responsibility too great to be borne by
the Treasurer without Legislative sanction, apd the
matter is therefore submitted to you.
After careful survey Of the situation I confident
~ recommend to you to provide for the continued re-
ccption of these notes as the safer AMI more honor
able curse. So far no State has followed the exam
pie Of Virginia, and banks outside of Richmond
in the whole Cnnfederacy have refused them. Our
examp may have m 'st happy influence upm the
contemplated action of others. No more deadly
blow could be stricken our cause than the repu-
diation of our currency, and that the honest, old
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 something should regret living to see If
one issue of Confederate notes be good, then all
good, since the honor is pledged for their uti-
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
If all st od firm the public credit might be saved-
refusal to receive these notes from whatever cause
and however weghty the reason, would create among
the non-comrhercia classes the most general alarm
and even Distress and the want of confidence would
become universal. The danger can now be stopped
if we fail to check it, in my opinion it will be beyond
remedy.
The suggestions of the Treasurer in regard to tho
mshner Of providing against any probable loss are
well worthy of your consideration, and have no
doubt will have great weight in your deliberations
Desiring to detain you but few days at this busy
and inconvenent season, refrain from bringing be-
fore you various other matters which might well claim
your attention at regular session. will therefore
only cali to your notice subject The Presi-
dent Of the Confederate States having called upon me
for seven thousand militia, it becomes important to
amend the existing militia laws 10 certain particulars
both to facilitate their raising and equipment with
all possible speed and to enlarge the lists of exempts
for the proper protection of State In regard to these
amendT.sss 1 will take pleasure in consulting
with aiN a5ssting your Military Committees.
Permit me to thank you for your prompt assem-
bling at my call and to congratulate you upon the
improved condition of our affairs State and National
Since your adjournment gallant armies have again
won great victories and driven back, with slaugh-
ter and confusion the vast forces of the enemy The
danger of suffering for lack of food has happily passad
away and the goodness and mercy of God has visited
US with harvest almost unparalleled while the grow
ing crops everywhere promise equal bounteousness.
Let US gather fresh courage from these Divine
blessings and struggle with renewed strength Tor the
honor and independence of the country
q. D. VANCE.