Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-02-03

ject that the Literary Fund had sustained losses,
running through a series of years, amounting at
this time, in the estimation of the Superintendent
to seventy-five or one hundred thousand dollars
These losses had occurred, not as stated by. the
correspondent of the Salem Press, on account of
the bonds having been misplaced" but for the
reason that proper attention had not been given to
the interests of the Fund, in the failure in many
instances, to collect interest when DUE and to make
reinvestments, &c, and it was for these reasons
that the Board should be authorized to select COM
petent officer whose special duty would require him
to be active and vigilant in the management of the
Literary Fund. The correspondent had therefore
erred in imputing to him such a statement as that
published by the Fayetteville ObSerUer.
Mr. S. further desired to say that the late incum-
bent of the Treasury Department was in no wise
responsible for the mismanagement of the Literary
Fund-and if the correspondent of the Salem Press
intended to reflect upon him on that account, he
had done him gross injustice. The bonds and 9TH
er evidences of debt belonging to the Literary Fund
had been during his whole administration until the
18th of October, 1862 in the keeping of the Litera
~ Board who kept them in a box which was de-
posted in the Treasurers Office, the Secretary of
the Board retaining the key.
In this connection Mr.. S. would read letter
from his Excellency, the Governor addressed to
him this morning, and detain the House no longer.
EXECUTIVE OFFICE, Raleigh, Jan. 81, '63.
Mr. SHoBER
Mem. Ho. Commons-Present
DEAR SrR:-Mr. d. w. Courts, late Public Treas
urer, having called my attention to statement m-
puted to you in the House of Commons made in
relation to the bonds belonging to the Literary
Fund, and which reflected upon him, at his request
l have to make the following statement: That al
though the law requires the Treasurer to keep the
funds of the Board and be responsible for them pre-
vious to my coming into Office, he had never done
so; the Board for some reason retaining them in
the hands of its Secretary, who kept them in tin
box, which was merely deposited with the Treasu-
rer, the Secretary keeping the key On the first
meeting of the Board, under my administration, in
October last it was resolved to place the funds ab-
solutely in the hands of the Treasurer as the law
required. Mr.. Courts was accordingly sent for
the funds delivered to him. and his receipt taken on
the 18th of October, 1862 This was the first time,
as am assured that Mr. Courts ever had actual
possession of them.
While, therefore, the statement made in my first
regular message that the fund had suffered loss for
want OF proper person to look after and collect
the various sums due the Board, was true vet it
does not follow that the blame attaches to Mr.
Courts, who was never put in possession, nor was
it my intention to reflect on him. Neither do l
wish to be understood as rejecting upon any of the
former Boards; Tor in general, the affairs of this
fund have been well and economically administered
The losses referred to were the necessary conse-
quence of making it the business os too many per-
sons to collect, instead of having some one compe-
tent person to look after the shiiRg and uncertain
securities of private bonds
shall be glad if this statement shall do justice to
Mr.. Courts
Very respectfully,
Your obt serv't.,
2. B. VANCE.
Papers which have copied the article to which
my remarks refer, will please publish my explana-
ton. F. E. .SHOBER.