Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1864-11-30

7 ner cent bonds, and is being rapidly in,
creased by large Railroad dividends, ana
the accruing interest on its stocks.
CONFEDERATE TREASURY NOTES.
The act of the last session of Congress au-
thorized the States to exchange during
the present year, one-half the Confederate
non.interest bearing Treasury notes held
nrior to the time when they ceased to be
tundable. for new issue at par ; and for the
other half, to take per cent. bonds, un-
der the 12rh section OF the currency act
approved 18th February, 1864; (Which
bonds would be liable to taxation in the
hands of purchaser from the State,) or in
per cent untaxable bonds ; and under the
resolution of the General Assembly in
May last, the Public Treasurer was vested
with plenary discretion to make the best
disposition he could of the old currency,
so held by the State. AS the wants ofthe
Treasury would compel me to sell the bonds
I might receive, and it was uncertain
whether either class of bonds which the
State might receive, would sell for two
thirds of their face, [ submitted the ques-
ton to the Secretary Of the Treasury wheth-
err the State could take one-half in new
issue at par, and the other half in new is
sue at a discount of 333 per cent. He
referred the question to the Attorney Gen
eral, who decided that if the State tookone
half in new issue at par, she must take the
other half in bonds. The bonds were not
ready to be issued. I then requested of
the Secretary of the Treasury, if he deem
ed it consistent>with law, that the .depos-
tary might be required to issue his certif-
cate to the State for one-half the amount
Of such currency, with leave to the Public
Treasurer to take either the 4 or the per
cent bonds from time to time and in such
proportions as he mi ght think proper. He
readily assented to this proposition, which
will enable the Public Treasurer, when he
has occasion to sell the bonds, to elect the
class which, at the time, shall command
the highest price in market | hold the
certificate of the deTositary in conformity
with this arrangement.
The room in the capitol occupied by the
Public Treasurer, is not. large enough for
the convenient and proper dispatch of the
extensive business Of the department. |
respectfully ask that committee may be
appointed to. inquire and report whether
there may be reassignment the rooms
of the capitol, without Inconvenience to
any of the officers, by which the room now
occupied by the Comptroller may be as
assigned to the Treasury.
BURKE SQUARE, IN THE CITY OF RALEIGH.
BY resolution of the General Assem-
bly,, ratified 18th February, 1855, the Pub
lie Treasurer was directed to rent ont this
square for the balance OF the year 1855, and
on the LIST Of January of each and every
year thereafter, at not less than $1s5 per
annum, and requiring the rent to 60 into
the Public Treasury.
by an act ratified Sd FEBRUARY, 1857, it
is declared that this square had been
granted by an act of 1901, to a Board of
Trustees, for the purpose oferecting build
ings thereon, aud establishing a Seminary
of learning; that said Trustees erected
such building, and kept school for a num-
Der of years, but had then become extinct,
whereby the property had reverted to the
State, and the Public Treasurer and Com.
ptroler are appointed Commissioners "to
succeed the board of Trustees appointed
! by the act Of 1901, and TO let ont the build
(; ings on Burke Square for the purposes in
dictated i'll said act, at reasonable and
proper rate"
BY a resolution of tho General Assem-
bly,: ratified Goth February, 1861, the Pnb-
lie Treasurer is directed to pay William
Peace S1,5On for losses sustained by
buildings on Burke Square.
This square and the buildings thereon
have been occupied, since 1854, by J. NJ.
Loveiny, who has kept up school there
on, and nothing has been paid into the
Treasury, so far as / can find, excepting
1892 for the year 1855. He has secur-
Ell the rents for the years 1868 and 1864,
at the rate Of $500 per annum. In the in
termediate period between 1855 and S63,
he claims to have made improvements Oh
/ the square, under verbal understanding
with the Public Treasurer) of greater
value than a reasonable rent OF the pre-
misses. | do not understand that the ex-
tent or value of the improvements, or rate
of rent, was agreed upon. [ recommend
that committee be appointed to- examine
the property and report whether some
better plan cannot be adopted for secur-
ing and protecting the interest of the State
| i'll said square.
REGISTRATION OF COUPON BONDS.
The act of 1856, in relation to the reg
istration and transfer of coupon bonds
requires the Public Treasurer to endorse
on such bonds that they arc transferable
only at this Office by written endorsement
on the bonds, witnessed by him. IT some
times happens that the Treasurer, from
sickness, or other cause, is not in his office
when such bonds are presented for regis
tration, or transfer, and recommend thai
the act be so amended as to authorize the
chief clerk Of the Department. as well a:
the Treasurer, to make such endorsements
and witness such transfers.