The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-01-13
HOUSE OF REPRESENTATIVES,.

asitsg 49, WEDNESDAY, Jan. 6.
Messrs. Boddie, Profit, Dixon, Long of
Richmond, Blair Davidson, Bowman. Bariies
Downing. accompanied with Il niap) Clay.
ton, Of Transatlantic, Yestal and Welcil,
presented reports of the commlssiunersNof
+ their respective counties, all of which were
appropriately retired. 81
On motion of Mr.. Sinclair. a committee
of three was appointed to inform the Senate
! of the death of Mr.. Short, of Pitt. and to
| lay before that body the resolutions adopted
| BY the House
The Chair appointed Messrs. Sinclair,
Downing and Argo as that committee.
| Mr. ESTES presented memorial from the
| Chamber of Commerce of Wilmington.
| Laid over.
Mr.. WEIGH introduced a resolution in
| favor of A. j. Murray, sheriff Of Haywood
county against whom "a Judgment of $1,000
had been obtained in the Superior Court of
Wake county for failure to collect taxes and
make settlement with the Public Treasurer
at the proper time.
The rules were suspended and the resou-
ton passed its second reading.
On tile third reading, Mr.. STILIEY moved
that the resolution be referred to the com
mittce ON Finance.
The latter. named motion was advocated
by Mcssrs. Stilley and Estes and opposed
by Messrs WEIGH and Gambler, who stated
. number of extenuating circumstances for
! the conduct of the defaulting sheriff, caused
by the fact that his election was contested,
and that some of the county commissioners
were banned by the Howard amendment,
which produced the delay in making his
return to the Public Treasurer i'' 'Fi.-'
The motion to refer was lost, and the
resolution passed its third reading and was
ordered to be transmitted to the Senate.
A message was received from the Gov
crnor, transmitting the report of the Audi
| tor for the fiscal year ending Sept. Both,
1868. Ordered to be printed.
Also the following message from His
Excellency, Gov. Holden, transmitting the
annexed communication from Hon. d. A.
Jenkins, Public Treasurer, viz:
EXECUTIVE DEPARTMENT OF N. c.
Raleigh, January 6, 1869.
To the Honorable the
General assembly Of North Carolina:
GENTLEMEN II beg leave to lay before
you report from the Public Treasurer,
showing the present condition of the Public
| Treasury. | earnestly recommend that the
| General Assembly Immediately adopt the
necessary measures to meet the interest en-
the public debt, and to provide for the cur
rent expenses of the State government. l
have full confidence in the ability of the Pub
| lie Treasurer and trust that the General AS
sembly will give to his recommendations and
views the consideration to which they are
| Justly entitled The credit of the State is
of paramount Importance. 1t should be
maintained at whatever sacrifice. In no
other way can our good name he preserved
untarnished; in no other way Cain we hope
TO prosecute those works of internal improve
ment on which it is believed our prosperity
in the future materially depends.
trust that 1t may be the pleasure of the
| General Assembly at once to pass a revenue
bill which will enable the Treasurer to meet
the january interest now due, and also pro-
vide for the interest falling due during the
present year. as well as for the ordinary
expenses of the government. The people of
the State must expect. from the condition in
which they find themselves. to contribute
| liperally in taxes to the Public Treasury.
have no doubt from my knowledge OF
their character, that they will do this cheer
fully and promptly. inasmuch as it is indis-
pensable to maintain the plighted faith of
the State, and to render effective such meas
ures as may he adopted to develop our great
natural resources.
have the honor to be. gentlemen,
Very respectfully, your ob't serv't
W. w. HOLDEN, Governor.
STATE OF NORTH CAROLINA,
Treasury Department,
January 9Th. 1869.
To the General assembly Of North Carolina:
l beg leave again respectfully to call your
attention to the financial condition of the
State
1t is with the deepest pain that am
compelled to report that it was found utter
ly impossible to raise money to pay the in
terest on the Public Debt due January LIST,
1859. Every effort was made to borrow
the money needed. about S3G5, 900, both IN
this State and in New York, hut without
effect. The only power in addition to the
general credit OF the State given me ny the
General Assembly under " An Act to au-
thorize the Public Treasury to supply
temporary deficiencies in the Treasury"
ratified 21st December, A. ID. 1868. was 10
pledge tine same amoGnt from the taxes hrst
thereafter receivable. The same power
was conferred under An Act to provide
for the payment of the interest OF the Lawful!
debt of the State" ratified 10Th August,
1868. | could not induce capitalists to
consider this pledge sufficient, because no
tax bill has been passed adequate to the
emergency. The Revenue Act now in force
is only calculated reproduce about $500, 900.
AS of course the State government must be
supported requiring more than this amount,
it is ahundantly evident that the security
OF taxes to be received under this act is
very meagre, and capitalists so believing re-
fused to advance their funds.
1t will be remembered that Immediately
on the opening of the late session of the
General Assembly, 1 made full statement
of our finances and then urged the imme-
diate passage of Revenue Act which would
certainly net an amount sufficient to meet
the expense of the State government and
pay the interest on the public debt. used
this language: :" 1t is impossible to restore
the credit of the State except by raising the
necessary funds by taxation. 1t is alto
gether practicable to borrow money in
anticipation of taxes to be repaid when the
same shall be collected, but it is idle to
dream Of elevating North Carolina to her
once eminent position of financial credit
without putting our hands into our pockets
and providing for the annual expenses for
interest as well as supporting the State
Government by promptly paying them in
cash." - = --lissl..
In the above paragraph ayerred the
practicability of borrowing money in adj
vance of taxes, pro0ided q sufficient lecy
should be made. also urged the expedien-
cy of the prompt passage of such a bill. A