Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1864-05-12

sun not exceeding 2sO O0O. 600. tits
| believed to he VT primary Importance that
no further issae of fnoses should take place
! and that the use of the credit Of the Gov
ernmeut should be restricted to the two
other modes provided by Congress, VIZ
he sale of bonds and the issue of cert: Il :
! Gates bearing interest, for the price of snp-
plies purchas-d within our limits. The
| law as it now stands, authorizes the issue.
! by the Treasury, IF new notes to the, ex-
| 5ent Of two thirds of the amount received
| under its ros,sio,ls. The estimate ct r..e
amount fuss1xsI under the law, is shown TO
| be 100000 600. and II two thirds of this
sum be re- issued, we shall Lave an addi-
ton of &2UO.O0O.UOO to our circulation,
believed 70 be already ample for the bu-
s,less OF the country. Tue addition OF
this large sam 80 the volume Of the cur
. rency would be attended by disastrous eff
tecFs, and woud produce the speed re-
currence of the evils froun which the fund
ing law has rescued the country. Ii
our arms are crowned with the success
which we have SO much reason to hope,
we may we'll expect that this war cannot
be prolonged beyond the current year,
and nothing woul! so much retard the be-
netceut Influence OF peace on ALI the ln-
teipsts OF our country, rs the existence of
Il great mass of currency not redeeinable
in coin. With our vast resources the Cir
culation, it restricted TO its present volume
wouid be easily manageable. and by grad
ual absorption III payment OF public dues,
would give place to The precious metals,
the only basis of Il currency adapted TO
commerce with fore gn countries. III our
present circumstances, l know OF no mode
Of providing for the public wants which
wonld entail sacrifices ST. great as fresh
issue ct treasury notes, and / trust that
you will concur in the propriety OF abeo-
lute y forbiding any increase of those now
III circulation.
Officers have been appointed and des
patched to the Trans Mississi ppi Statea,an
the necessary measures taken tor the ex-
ecution OF tie laws, enacted to nbviate de-
lays III administering the Treasury and
other Executive Departments in these
States; bnt sufficient time has not elapsed
to ascertain the results.
In relation TO the nlosf Important OF all
subjects at the present time, the efficiency
of our armies in lie field. it is gratifying
to assure yon that the discipline and iii
strncti6n Ut the troops have kept pace with
the Improvement in material and eqn1p-
UlcIlS. nave fcASoH w CoI1 atufdiO
ourselvc on the results of the Legislation:
on this subject, and on the increased ad-
.minisFlative energy II the different bu-
reass Of tn. War Department, and may
not unreas)nably indulg anticpati"ns OF
commensurate SUCCESS lii the ensuing cam
paign.
TIE organization of reserves is in pros
gress, and it is hoped they will be valn-
able III atfording local protection without
requiring details ard detachments from ac-
tive t, rec.
Among the recommendations contained
in the report OF the Secretary OF War,
your attention is specially invited to those
in which legislation is suggested Oh the
following subjects, viz:
The tenure et nttice ofthe general 9Th
GERS in the provisional army, and 4 proper
discrimination in the compensation of The
different grades. m
The provisions required in aid of inva
lid setficers who have resigned in conse-
quence Of wounds or sickness contracted
while In service.
The amendment Of the law Which de-
lrives officers III the field Of the privilege
~. purchasing ratinns, and thus adds to
their embarrassment, i4stead OF conferrlng
the benefit intended. ss a
The organization of The general staff of
the army, In relation to which a special
message will shortly be addressed TO yon,
containing the reasons which compelled
me to Withhold my approval OF bill pass
ed by your predecessors at too late Pc