Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1863-07-10
RATES OF ADVERTISING.
Message Of the Governor.
Gentleman Of the Senate
and House of Commons ::


The reasons for calling you together at such
an unreasonable time, aud after your
adjournment, will be found in the accompany
ing able and interesting reports of the Pubiic
Treasurer.
The gravity of the question, whether consid-
cred in reference to It's probable effect upon
the interest OF the people and the success o. our
common cause, will, trust constitute an ample
apology for nav action in calling you together,
in which need not say | unanimously sus
tanned by the Council of State.
By a recent act OF Congress, all non- Inter
est bearing Confederate Treasury Notes we're
classified and a limitation put the time OF
funding them, set forth III the accompany ing
report OK the Public Treasurer. By this action,
intended to reduce the great volumn Of paper
money in circulation by causing it to be funds
ed, the notes of the two issues referred to were
rendered of less value than those Of later issu-
es and shough to that extent it was repudi-
alton Of them, 10 action would have been nee
essary on the part of the Legislature had the
matter ended here But the Log lature of the
State of Virginia, being then liz secret session
immed lately provided against these issues be-
ing received in payment of taxes, with a yiew
as was said, t1 aid the operation of the act Of
Congress, by Mastering the funding process, and
soon thereafter fhe banks Of the city Of Rieh-
mond, actuated, doubt, by the same patriot.
ie but unfortunate motive, declining to receive
them. it at once became matter of serious
concern with the Troa surer, and myself wheth.
er some legislative action would pot be requr-
ed in self-defence, and if any were required, it
must be soon, as the collection of the taxes he
gins in July.
The Ordinance Of the Convention, No. 35,
February Session, makes 1t the duty of the
Treasurer to receive these issues but if he
we're invested with power TO reject them, it eve
identity would not become him to exercise it
under circumstances SO different from any con
templated by the farmers OF the Ordinance.
10 continue to receive them after this partial
reputation ot Congress- and after the Legsla-
tnrs 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, it might be, or
perhaps entirely uncurrent. There was no tell
IEg how soon the other banks Of the country
might follow the example of those of Richmond
nor what action other States might take and
of course it being impossible to fund it all, and
ineonvenient to fund any, SO long as it would
pass,it might be rushed into .his State and paid
into our Treasury. Such resnlt would be
ruinous alike to her creditors, her officers and
her soldiers. e6 -sssea ss
This created responsibility toe great to be
i've sanction, aud the matter is therefore submit
ted to you.
After careful survey OF the situation, con.
hdently recommend you to provide for the con
tinusd reception OF these notes as the safer ard
more honorable course. So far no other State
has followed the example oe Virginia, and no
Banks outside of Richmond, in The whole Con-
iederacy have refused them. Our example
may have most happy influence upon the con
templated action ofothers.a No mere deadly
blow could be stricken our cause than the repu
diation Of our currency. And that the honest
oid>fashioned, debt paying State of North Car
DINA should be among TIE first to disonor the
money paid her citizens for their subsistence
and her soldiers for their blood, is something
should regret living TO see.e. sss
:, II II one issue Of the Confederate notes be good
len oil are good, since the same honor i:
pledged for their redemption Ii is exceedingly
dangerous % take the hrst step towards dishon