Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-12-15
TreasureF's Renort.

OF the present fiscal year, Mr. Treasurer Worth
thought 1t suitable occasion to make an annual re-
port TO That body of the operations of his depart:
nent; and we have before us his report, copies of
which have been printed and laid on the desks of
members
The receipts of the public fund for the year end.
ing September SOth, 1868, amount to $l6, ,2Os 44O-
oS, which, together with the balance due this fund
on the SOth. September, of 1854, ,993 OF, make
$lT,75O,37S 80. The disbursements for the same
period were 5O78, ,922 81, leaving on hand on the
lSt OF October, $267l 45O 90. The receipts of the
literary fund for the same period were $5Os7s2 "a,
and the disbursements 1921 ,591 49, These large
receipts and expenditures of the public fund are
mainly on account Of the military establishment
maintained by the State for the purpose of clothing
troops and purchasing supplies
Statement is an interesting and valuable table
prepared by Mr.. Worth, showing the total amount
of State bonds issued, date of ISSUE when due, by
what authority issued, and for what purpose The
whole amount is s2l, 1872 900, and of this amount
$S,949,50O were issued previously to the goth
of May, 1861, and are known as the old coupon
and registered bonds. The piods at which the
bonds of all kinds will fall due range from 1864 to
1898; the amount however, which will fall due oe-
fore 1882 is small and will be easily provided for
blythe sinking fund.
The whole amount of the State debt is $26, 1885,
434 80, as follows: Bonded debt $2I 80 OOO treas
ury notes in circulation So, 329, ,s2s 90, Coupons
unpaid 81, l56,1S3, temporary loans S6OS, 423 The
whole amount of State treasury notes issued is So
235,075 %. OF these 81 ,905, ,246 10 have been
funded or otherwise withdrawn from circulation leav
ing the above amount in circulation, of which So.
1864 90 are of small denominations, and unfund
able.
Mr.. Worth has issued as few treasury notes as
possible, but has used Confederate currency in all
his transactions when not positively directed by the
Legislature to pay out treasury hotes. The result
is that hie the treasury notes of other States are
only at par, North Carolina unfundable treasury
notes Zones and two) selling for one and the
fundsbles at 250 to 26O. In this, as we'll as many
other respects that might be mentioned he has ex.
hbited eminent judgment and ability as financier:
and it is fortunate for the State that she has such
an officer in this crisis. We make the following
extracts from Mr. Worth's report
THE STATE INDEBTEDNESS.
Exhibit \, shows the bonds outstanding against
the State for what purpose, by what authority and
at what date issued, when due, and amount The
amount OF these. bonds is $2l 1872 900, but in this
sum is embraced s 800 C0O, deposited IN England
as collateral security for the delivery of cotton
which the State has contracted to deliver there
The State has purchased and has nn hand cotton
probably worth mu ~ at the price agreed on, as
the debt in England. The first class of
bonds mentioned in this Exhibit, amounting to Sj3-
600, do not hnd mentioned in the reports of my
predecessor. They are overdue, and | was not
aware that they were in existence until a number
of the class were preScnted for payment. At what
time they fell due am unable to state, not having
been able to find any entry in the Office showing
the da'e of their issue, or the number and amount
issued They are registered bonds; and find in
the office book in WHICH the holders of these bonds
gave receipts for the semi-annual interest, from
which it appears that the total amount of them was
$4,000 The books show the payment of S3l7,-
900, leaving unpaid $4,000.
Since the lst of January last have sold to the
banks, sir per cent bonds, falling due January 1st,
1893 at par, to the amount Of 81 665, 800 in pay
ment of this amount due to them for temporary
loans; and means of supplying the Treasury
in January and February last, sold to the Com
missones of the Sinking Fund, at par out of the
class of bonds, to the amount of 1919, 800;
and to others at an average premium of 3! per cent
to the amount Of Sl26,OO0
The income of the Sinking Fund will probably
be much more than sufficient to pay the bonds fI
ling due 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 latter bank, through It's president assures
Of the willingness of bank to receive the bonds
Of the State if its charter amended as to
authorize it The latter expresses preference that
the debt remain it is, but says if compelled to
take payment in Confederate currency or the bonds
Of the State, that the latter will be preferred
made known to the Banks of Wadesboro', the
nd tha Rrap obac &c
the Bank of Cape Fear at Salem and Washington
in the early part of the year. my readiness to pay
them in Confederate currency or the 6 per cent
bonds of the State, at par, at their option ard
Gently repeated the notice. The Bank of Wades-
boro postponed, in the first instance to make any
decision and does not respond to the second notice
One OF the directors Of the Miners and Planters
Bank has lately assured that they would shortly
present the note held by that Bank and take State
bonds and the two J qnches of the Bank of Cape
Fear upon second L ,tice 10 them some weeks ago.
reply that the subject has been referred to the
principal Bank from which | have received no an
swer. All the other Blnks have accepted the State
bonds in satisfaction of the debts due them for tenn
porary loans, amohntng to 81, Go 500; the Branch
of the Bank of Cape Fear, in this city, filed pro-
test which was communicated to you at the Extra
Session in July last
Exhibit F, shows the amount of Treasury notes
fundable 1st January, 1856, or not fundable at ALL
which this Department has been authorized to issue
the authority under which they have been or may
be issued; their class when redeemabe; the
amount of each denomination authorized to be issu-
ed = the amount which has been issued, and the
amount which may still be issued The notes.
which the Treasurer is still authorized ISSUE
as follows:
Notes fuudable at pleasure of holder, : 3R3,3S5
Notes fundahle lst January, 1866, 2,795,2SO
Mites of 81, 81 and 50, not d,be, 1,O5O,S0)
Notes of less denomination than 81, 3l9 1G4 95
$452s, ,620 90
Since the 18th February last the Treasury being
amply supplied with Confederate money collected
from the Confederate government and other sources
1 have deemed it nexpe lent to increase the ndebt