The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1867-02-05

" tue SENATE OF North Carolina, bill looking
TO the protection of the credit ofthe State, which
mas met with much favor from those who have
examined its merits. 1t proposes that for the
purpose OF paying the bonds of the State now
due, and the interest on the State debt, the
Public Treasurer shall issue million and half
OF dollars 10 Treasury Totes, payable on the LIST
OF January, 1873, bearing interest of per cent
per annum, for every hundred dollars five hun
dred thousand dollars each of the denomination
! OF hVes and tens, three hundred thousand dol
lars 10 twenties, and two hundred thousand dol
lars In hfties; these notes to be paid with inter-
est, at maturity, upon presentation at the State
treasury, out of any monies not otherwise ap-
proprlated, and to be applied, when issued, to
the payment of bonds now due, and the interest
OF bonds now due whether bearing coupons or
not These notes will be receivable by the
treasurer of the State in payment of all public
dues, and by Sheriffs and other collecting Off
! GERS In payment of the public and county taxes.
The bill also provides for the funding of the
notes SO issued in thirty years bonds, at the op-
tion Of the holder, at any time after January
LIST, 1870 Wilmington Dispatch
1.-The Treasury Notes will not pass if issued.
Burnt children dread the fire
DEFACED GREENBACKs- Perhaps it is not
known that defaced or mutilated grcenbacks or
National currency, whether bills or fractional
currency, if holes are burnt in them or small
pieces torn off, do not pass for the face of them,
but are required by the U. S. Treasury to be
discounted, sometimes pretty severely by the
Banks. Whether this is right, no one pretends
to affirm, but the requisition is made neverthe-
less; and hence when mutilated bills are sent to
US, those who send them must bear the loss.
------
tho
large number of the colored farm hands of the
State have left the middle and upper districts,
and have gone in large numbers to the South
aud Southwest. They have gone to all sections
of the Southern country, Mississippi, Louisiana,
Arkansas, Texas and Florida. This last State
appears to be the favorite, and some FIVE thousand
TO six thousand at least have passed through this
city bound in that direction. The steamer Die
tator, of the Florida has been favorite boat with
them, and has probably taken from three thou
sand to four thousand. On Saturday last the
steamship Adele left the city for Galveston, Tex
as, having on board some three to four hundred.
The number that have left the upper country in
wagons, it is difficult to estimate, but we have
heard the total number that have left put down
at twenty five thousand. - charleston Neus
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IMPORTANT DEcIsIoN.-The High Court of
Mississippi has decided that Confederate money
and State Treasury notes were valid as con-
sideration during the war. The following ex-
tract shows the purport of the decision:
The currency was, for upwards of four years,
almost exclusively the circulating medium of the
country-issued by governments having COM
plete power over the people, and exercising I'M
disturbed political functions 1t was the repre-
sentative of their rights and property in all pecu-
mary transactions of private character, and was
at the time valuable and convertible into gold or
silver coin to a considerable value. 1t answered
all the purposes ofa circulating medium among
the people. and immense interests were acquired
by means of it, under circumstances of the great
est good faith by both parties, and of large profit
to the parties who received it contracts of the
highes: obligation Were entered into in consdera-
ton of it, and by it food and clothing and other
necessaries were obtained. Under such circum-
stances, to hold that such contracts were illegal
and void, and that the parties acquired no legal
rights under them, would be alike contrary to
settled rules of law and to sound public policy"
PAYING DEBTs-One of our religious ex-
changes has the following strong remarks on
this subject. They drive the nail in to the
head aud clinch it
",ien may sophisticate as they please. They
can never make it right, and all the. bankrupt
laws in the universe cannot make it right for
them not to pay their debts. There is sin
in this neglect as clear and as deserving church
discipline as in stealing or false swearing. He
who violates his promise to pay, or withholds
the payment OF debt when it is in his power to
meet the engagement, ought to feel that in the
sightsof all honest men he is swindler. Reli-
gion may be a very comfortable cloak under
which to hide, but if religion does not make a
man deal justly it is not worth having"
WASHINGTON ITEMS.
WASHINGTON, Feb. 1.-The National Banks