The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1910-10-04

lmbecility Of ondnc ana
hocordlng to Morris's estimate rho
pupiic DEBT at this time was annoy
eis $zo,00e, 600. The treasury was
oS ohiy devoid of funds b,t Conorass
"as actually unable to paw the nubI;c
~ 'aies who performed the duties of
ueasury department. The only
49, "n1ch the Superintendent
Hau "hen he first assumed hie ofG1e
vas the amounts due the Continental
,onsress on the acquisitions. In Nav
I'oi' directed Morris 10 draw
eih'ty DAY sight drafts on the States
~ the sums due on the reouisitiops
"a amounts drawn on North Car
Una s'"'o0o was paid. Drawing on
~ states n drawing on the minis
'Hs IN Europe were entirely differ
ent matters. The States were not yer,,
Hlucn perturbed when drafts were pre-
seHteu Tor payment as Congress had
no coerclVe powers, and the States
oio as they pleased in regard to the
matter.
Inc situation in North Carolina in
1851 was deplorable. The energies of
ne STATE were bent towards its own
The battle of Kings
Mountain which had been fought the
year before resulted in a victory for
the State forces, but Wilmington was
IN the hands Of the British, and the
Loyaists committed depredaions
and wherever they wished
with lmpunity. The treasury CON
'ained no money and the troops were
with either arms or am
munitlon. The resources Of he State
been drained in aiding South Car
DINA and Georgia and in fighting in
ternal foes.
A reQuisition was made in October
of this year OF IS, 600, 900 to alleviate
IN some measure the distresses of the
continental army but at the close of
1lS1 all the States together contrib
uted less h $500 600. North Caro-
llnas quota was s622,677 but she was
unable to contribute anything. There
were three other States unable to
make payment. One reason for SO
small an amount being paid in was
the refusal of the superintendent Of
Finance to accept anything on the
payment Of quotas except the notes
issued by himself. cash. or notes Of
n Bank Of North America. Accord
ing to q statement sent out by the
treasury department in August, of
1881, the State was indebted to the
Continental Treasury SIS, 23O,O 0 Of
the old emissions. A sum of $780,
600 had been paid in in paper money
but on its quota of s555,260 to be
paid in specie, nothing was returned.
III a lolLer 10 Governor MdTL1n, OF
North Carolina, in July, 1882, Morris
makes the statement that of the s4,-
600, 900 to ave been paid in by the
first of that month only $40, 600 was
actually received. In January of this
same year, Congress adopted the ex-
pedient Of paying each State that had
exceeded its quotas before January of
1881 should be eallowed an annual in
tereSt of 6 per cent on such excess.
vrbI0h infOrocf naC to ha dafl1cfp6
from quotas of acquisitions which
might be made in the future. The
States that were delinquent were to
be charged at the rate of 6 per cent
on all deficiencies which was to be
added to the future quotas of such
States as were in arrears.
In September, 17S1, a requisition of
s1,.OO,OOo was made upon the States
for the purpose Of meeting the inter
est on the public debt. North Caro-
lina's apportionment of this amount
was sSS, eco. 1t was estimated by
Congress that 5 100000 600 would be
necessary for the prosecution or the
war during 1888. OF this sum. ST
600. 900 was to be obtained from for
eign loans which left $4,000, 600 to be
raised by the States. One hundred ana
forty-eight thousand dollars Of this
amount was to be furnished by North
Carolina to be paid in quarterly in
Sta1lmentS. me aDll1lE OF lne 0Ldte
to meet this reouisition is best summed
m by the delegates in a letter to
Governor Martin. They say W know
thai our State will not be able to
raise the quota that is assigned 10 her
for the year 1888, but we are CONT
dent that she will do all in her power.
The SIX million dollars were to be ex-
Dended for the following
For the pay of the Army 1850 go
Hospital department ..... 1o3,lfI
Ouartermaster department.. 1S,o0o
C,othier Genera depart
mant 10000
Eor military Stores ....... 1891
1,291.174
and Military Staff. 504,44i
na,o 300, 600
CiviI lief 1924
Can+ineencie 252,277
Total
The financial situation OF the United
at the beginning of 1888 was
~ Ji1~ no nnCC5h1n than j