The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-03-08
COMMON SCHOOL FUND.
OFFICE OF THE Treas OF LITERARY FUND
RALEIGH, Feb. 30, 1864

OFFICE OF THE TREAS OF LITERARY FUND, ]
RALEIGH, Feb. 90, 1864.
To the Chairmen Of Boards Of Superintendent
Of Common Schools, and a0 others concerned.
At meeting of the Literary Board this day
held, the following resolution was adopted
RESOLVED by the Board, That the Treasurer of
the Literary Fund issue letter, directed to the
Chairmen of Boards of superintendent of Com
mon Schools aud all others concerned notifying
them of the existence of law authorizing the
Treasurer TO pay drafts upon the Fund in Confcd-
crate notes, and advising the holders Of such
drafts checks given in payment of such drafts,
to present them before tire LIST day of April next;
and also of the act of Assembly giving the Board
power to call upon those holding drafts upon the
Literary Fund for common School purposes, to
present them for payment within six months, and
OF the exercise Of this power at the present meet
ing
Reso1ned further, That he call the attention of
Chairmen having monies on hand, to the recent
act of Congress entitled, San act to fund.- tax and
limit the currency" and advise them to fund the
Confederate Treasury notes In their possession for
school purposes practicable.
L would respectfully ask the particular attention
OF those to whom this letter is addressed, to the
Importance of the above resolution, and I would
urge upon the hodss Of drafts upon the fund, or
checks issued by the present or former Treasurer
to present. them for payment at the earliest pract
cable moment, that they may have time to fund
before the LIST day of April The tax of 33 l-3
per cent. on all Confederate Treasury notes of q
denomination above five dollars, makes the neces-
sity Of funding such notes in four per cent bonds
before that date, apparent to ALL and Chairmen of
Superintendent of Common Schools having such
notes on hand SHOULD lose DO time in investing
them as to avoid this tax. BY funding in sew
eral bonds 500, $500 each, they will be able
to suit the convenience of teachers in some instan
ces, while some Of these bonds they may exchange
hereafter for their amount III the new issue of
notes, with those who would use them in payment
Of taxes. But these considerations are too appa-
rent need celebrating.
The income of the Literary Fund is entirely in
tributions recently made We're owing, in part to
the deprecated currency to be paid over to the
Common Schools The passage of the bill at the
last session of the Legislature, authorizing the
Treasurer to pay the drafts in Confederate notes,
was, under these circumstances, an act of simple
justice.
The Board, to obviate the danger of drafts, TO a
large amount, being kept back for presentation at
future Gay, in hopes of payment in better cur
rency from the fund, has to-day exercised the pow
Of requiring all drafts to be presented within
six months from this time, it having been clothed
with such power by another act of the late session.
The holders WILL therefore, see that they are pre-
scented within the time limited.
Very respectfully, r. H. BATTLE,
Treasurer of Literary Fund