Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-12-16

Coo The 81 SOC, 900 sent to Europe, IS collateral
security Of cotton debt in arriving at the real In
debtness Of the State should not be considered as
debt because the State owns cotton, supposed 70 "
sufficient to pay the debt -,
In this connection it should also be borne in mind
that the Commissioners of the Sinking Fund hoia
State stocks to the amount of 900, and Con
federate per cont bonds to the amount Of SOU,
600 and besides the interest accruing on this Fund
is being rapidly, increased by dividends from
Railroads.
have endeavored to cooperate in every legitl-
mate way with the Commissioners Of the Fund in
Investing its income. The judicious manner in
which it has been managed and its rapid increase,
derived from our large Investments in works OF
internal improvements, gives the best assurance to
the holders # our bonds that they will be pune
tually paid at maturity, and constitute of tie
cnlsi elements of the high premium which oor
bonds command in the market. The Commissioners
Of ehls Fond will probably report to you more fully
during your session.
LuNATIc ASYLUM.
ny the act OF the first session of yours honorable
body, the sum Of $l25 900 was appropriated to the
support OF the Lunatic Asylum for the years 1858
ana 1854 provided the aggregate amount for such
year shall net exceed the sum Of $50, $780," Owing
to the depreciation of the currency this sum proved
to DO Insufficient for tie support Of the Institution
The drafts of the Executive Committee for the fiscal
year ending September Both. 1858, which have been
paid, amount to 70, a00 and since the 8Oth Septem.
Der 1853 their drafts have been paid to amount of
40, ooO u has happeied before, that the Treasu.
nFer has had to take responsibility Of overpay
ing the appropriation for the support Of this Inst
tuition and Subsequent sessions Of the general As
sembly have ratified such payments.
At period when currency and prices are so de-
ranged, it is impossible to make estimates with rea
soaoie approximation I'd arady, and it is bad
prsctice tor the Treasurer % pay money not author
lied by law. l hope the General Assembly will
either authorize the Executive Committee to draw
for such sums as they deem necessary or make such
other provisions as they may deem best to avoid the
evil.
APPROXIMATION FOR THE SUPPORT OF SOLDIERS FAM.
- LIES
This appropriation Of 900, 600 contemplated the
payment OF tie whole sum at once. In January
and February last there was not enough money in
the Treasury to meet other drafts on it. and the on
y means OF raising this amount would have been
the sale of State bonds to an amount so large as
would have been likely to depreciate their value in
market Believing that the object appropriation
would be as well accomplished by paying this ap-
preparation in four equal instruments and that in
this way it could be met without recourse to the
sale OF State bonds, have adopted this course; and
to save expense and Inconvenience to the County
Courts, sent them drafts quarterly, and notified
them that If they would inform me in what bauk it
would be most convenient to them to receive the
money, would place funds in such bank to meet
the drafts. The banks have obligingly co.operated
with me in carrying out this plan.
These drafts have all been issued, but many of
them have not been presented for payment The
sai1e s the case as to the warrants Of the Comptro
Ter in favor of the Charmen of the Board of Super
intendents of Common Schools,
1t is believed that they are withheld in the hope
that at some future period payment may be had in
better currency.
SETTLEMENT OF THE STATES CLAIM AGAINST THE
SOUTHERN coNFEDERAcY
Under the authority of the 9th section of the Oct
provldlng ways and means for supplying the Treas
ury, ratified Goth December, 1862, appointed P.
d. Winston, Esq, of BERTHE, to collect the debt due
to this State from the Confederate government. As
soon as the vouchers could be put in order by the
State Auditor, he went with them to Richmond and
entered upon the duty. and has since diligently
prosecuted it. Much of it has been passed upon by
the Confederate Auditor, md the work is now pro.
gresslng and it is expected that at An early day
considerable part of the amount advanced by the
State in payment Of her troops will be paid, and
that the whole claim will be passed upon by the
auditing officers at an early day. I: consists of
vast number of items, sustained by great many
vouchers not always in the best shape, and neces-
sarily requires much labor and research.
TIE PAYMENT OF OUR EIGHT PER CENT. BONDS
Not having succeeded in collecting any of the
foregoing claim from the Confederate government,
our s per cent bonds of my readiness to pay them,
or to give them per cent. bonds, if they should
prefer them, in exchange for the per cent bonds.
The salaries of the two clerks in this department
are less than they should be if they were paid in
specie. They are the cashiers of the department,
and upon their fidelity and skill depends the accura
cy of the accounts to be kept in it. True economy
requires that they should at all times be paid ber
81 salary. Their present compensation is totally in
adequate to their support
It must be manifest to any one at all acquainted
with the duties of this department that it ought to
have two contiguous rooms: one for the Treasurer
and one for the clerical force Respectfully submit
it whether another assignment of the rooms of the
capitol cannot be made to effect this end withou,
detrment or Inconvenience to any other department
The Office hours of the Treasury, as now pre-
scribed by law, are from to IL, and from to {
o'clock. Nearly all the payments are made BY
checks on the banks, which close at o'clock in tn,
afternoon The time from 70 till 2, when the ofic,
is now closed, is much more important to the pub
lie than from Q till 5 p. N. Thetle,ks should hav,
some time with closed doors, to make up the cast
account post the books, &c. respectfully submit
that it would be more convenient for the public
and that the duties OF the office could be better per
formed if the Office were required to be kept opel
from o'clock a. m. to o'clock p. M, and close'
afterwards.
The act of 1855, chap. l6, authorizes the hold
ers of State bonds to have them registered. Yer,
many avail themselves Of its provisions respect
fully submit that the assistant clerk of this depart
menought to be allowed small fee for this service
to be paid by the party requiring such regstr alton
THE CURRENCY.
It is manifest that if something efficient be no
speedily done vastly to diminish the volume of Con
Tolerate currency, that it will soon cease to answe
the purpose Of money. The Confederate Congress
alone furnish the remedy, if the disease be caps
BILE of cure. 1t seems to me to be certain that i
will not be found in any plan which savors Of repu
diation, nor in voluntary funding If it be possibl
to reduce the circulation to toerably healthy state
!, it must be done by taxation and if funding const
tute part of the plan, it should BE- done at yer,
low rate Of interest. recommend taxation to rails
the means to meet any considerable appropriation
you may deem it expedient to make. l deem tn
/ ways and means now provided sufficient to NEE
present appropriations, if the currency shall nc
grow worse, and if the demands of the military d.
partments of the State shall not be greater in tn
future than they have been the past year.
knx~o L.,