The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1864-05-10

culation will have been reduced to a sum not ex-
ceeding $3.50 100000. It is believed to be of
urinary importance that no further issue Of notes
should take ! ace, and that the use of the credit
of the Government should be restricted to the two
other modes provided by Congress- viz: the sale OF
bonds and the issue of certificates bearing interest
for the price of supplies purchased within our
limits The law, as it now stands, authorizes the
issue, by the Treasury, of new notes to the extent
of two-thrds of the received under It's pro-
visions The estimate of the amount funded under
the law, is shown to be $500, 100000, and if OF
this sum be re-issued we shall have addition of
5000 900 to our circulation believed to be al
ready ample for the business of the country. The
addition of this large sum to the volume of the
currency would be attended by disastrous effects,
and would produce the speedy recurrence OF the
evils from which the funding law has rescued the
country. IF our arms are crowned with the sue
cess which we have much reason TO hope, we
may we'll expect that this war cannot be prolonged
beyond the current year, and nothing would SO
much retard the benefcent influence Of peace on
all the interests of our country the existence OF
a great mass Of currency not redeemable in coin.
With our vast resources the circulation, if restrict
ed to its present volume, would be easily manage
able, and by gradual absorption in payment OF
public dues, would give place to the precious met
ais, the only basis of currency adapted to COM
merce with foreign countries. In our present cir
cumstances know of no mode of providing for the
Public wants which would entail sacrifices so great
as fresh issue of treasury notes, and trust that
you will concur in the propriety Of absolutely for
bidding any increase Of those now in circulation.
Officers have been appointed and despatched to
the Trans Mississippi States, and the necessary
measures taken for the execution of the laws en-
acted obviate delays in administering the Treas
ury and other Executive Departments In those
States; but sufficient time has not elapsed to as
certain the results.
In relation to the most important Of all subjects
at the present time, the efficiency of armies in
the field it is gratifying to you that the dis
cipline and instruction of the troops have kept
pace with the improvement ia material and equip
ment We have reason to congratulate ourselves
on the results of the legislation on this subject,
and on the increased administrative energy in the
different bureaux of the War Department, and may
not unreasona5ly indulge anticipatioEs of common
surate success In the ensuing campaign.
The organization of reserves is in progress, and
it is hoped they will be valuable in afording local
protection without requiring details and detach-
ments from active force.
Among the recommendations contained in the
report Of the Secretary of War, your attention is
specially invited to those in which legislation is
suggested on the following subjects, viz:
The tenure of office of the general officers in the
provisional army, and proper discrimination In
the compensation Of the different grades;
The provision required in aid Of invalid officers
who have resigned in consequence of wounds or
sickness contracted while in service;
The amendment of the law which deprives Off
GERS in the field of the privilege of purchasing ra
tions, and thus adds to their embarrassment, in
stead of conferring the benefit intended
The organization Of the general staff of the army,
in rolatinp 70 will oh tl1
be addressed to you, containing the reasons which
compelled Inc to withhold my approval of bill
passed by your predecessors at too late period
Of the session to allow time for returning it for
their reconsideration;
The necessity for an increase in the allowance
made for the trans portaton of officers travel
ing under orders;
The mode of providing officers for the execution
Of the conscript laws;
The means Of securing greater dispatch and
more regular administration of justice in examn-
ing and dsposing of the records of cases reported
from the courts martial and military courts in the
army.
The recent events of the are highly credi
table to troops, exhibiting energy and vigil
ance combined with the habitual gallantry which
they have taught us to expect all occasions
We have been cheered by important and valuable
successes in Florida, Northern Mississippi, Wes-
TEN Tennessee and Kentucky, Western Louisiana
and Eastern North Carolina, rejecting the high
est honor on the skill and conduct of our comman-
ders, and on the incompatible soldiers whom it is
their privilege to lead A naval attack on Mobile
successfully repulsed at the outer works
that the attempt was abandoned, and the nine
months siege of Charleston has been practically
suspended leaving that noble city and its fortress
es imperishable monuments to the skill and fo1ti-
tude of its defenders. The armies in Northern
Georgia and in Northern Virginia still oppose,
with mistaken front, formidable barrier to the
progress Of the invader; and our generals, armies
and people are animated by cheerful confidence
Let US, then. while resolute in devoting all our
energies to securing the realization of the bright
auspices which encourage u.s. not forget that our
humble and most grateful thanks are due to Him.
without whose guidance and protecting care ali
human efforts are of no avail, and to whose inter-
position are due the manifold successes with which
we have been cheered
JEFFERSON DAVIS
RICHMOND, May I'd, 1864
THE FIVE DOLLAR NoTEs-It has been the
impression of some persons that Congress would