Year: 1861




movement of troops and military supplies
the insuf1iciency of the rolling stock oi
the railroads for the accomm odatiOn oi
business resulting both from military op.
eratons and the obstruction of water
communication, the presence of the enc.
my's feet, the failure and even refusal OF
contractors to comply with the terms OF
their agreements, the difficulties inhe-
rent in inaugurating so vast and compli-
Gated a system that which requires postal
facilities for every town and village in a
territory so extended as ours have all
combined to impede the best directed eff
forts Of the Post Master General, whose
zeal industry and ability have been taxed
to the utmost extent. Some of these diff
ficultes can only be overcome by time and
the improved condition of the country and
the restoration of peace, but others may
be remedied by legislation, and your at
tention is invited to the recommendations
contained in the reports of the head Of
that Department.


The condition of the treasury will
doubtless be subject of anxious inquiry
on your part. am happy to say that the
financial system already adopted has wor-
ked well so far, and promises good results
for the future. To the extent that sreas-
hry notes may be issued, the government
is enabled to borrow money without inter
terest, and thus facilitate the conduct of
the war. This extent is measured by the
portion of the field of circulation which
these notes can be made to occupy. The
proportion Of the field thus occupied de-
pends again upon the amount of the debts
for which they are receivable, not only to
the Confederate and State governments
but also to corporations and individuals.
Payable in this medium, a large amount
of it may be circulated at par, there is ev-
cry reason to believe, but the treasury nc ote
is fast becoming such medium.


The provision that these notes shall be
convertible into Confederate stock, bearing
8 per cent. interest at the pleasure of the
heldcr, insures them against depreciation
below the value of that stock, and no con-
siderable fall of this value need he feared
so long as the interest shall be punctually
paid the punctual payment Of this in
terest has been secured by the act passed





a rate of taxation as must provide suffici-
ent means for that purpose, and for the
successful prosecution OF this war. 1t is
indispensable that the means of transpor-
ting troops and military supplies be furn-
ished as far as possible in. such manner as
not to interrupt the commercial inter
course between our people, or to place a
check on their productive energies. For
this end the means of transportation from
one section Of our country to the other,
must be carefully guarded and improved
and this should be the object of anxious
care on the part of the State and Confed
crate governments, so far as they may have
power over the subject. o


We have already two main systems Of
through transportation from the North tC
the South-one from Richmond along the
seabcard, and the other through Western
| Virginia TO New Orleans. The thirc
might be secured by completing link Of
about forty miles between Danvlle, il
Virginia, and Greensburg, in North Caro-
lima The construction Of this compare
lively short line would give us through
route from North to South in the intcrio
of the Confederate States, and give us ac
cess to population and to military resour
'ces from which we are now in a grea
measure debarred We should increast
greatly the safety and capacity of GU
means for transporting men and militar,
supplies. If the construction of this roaC
should, in the judgment of Congress, as i
is in mine, be indispensable for a mos
successful prosecution of the war, the &C
tion of the government will not be re
strained by the constitutional objection
which would attach to a work for CONNER
ciai purposes, and your attention is invi
ted to the probability of securing its earl,
completion, by giving the needful aid I
the company organized for its construc
ton and administration.


If we husband our means and make
iudicious use of our resources, it woul
be difficult to fix limit to the period dui
ing which we could conduct war again:
. the adversary whom we encounter. Th
very efforts which he makes to isolate an
, invade us must exhaust his means, Will
they serve to complete the circle and d
versity of the productions Of our indu,
trial system, Inc OBSTRUCTION winch
= seeks to effect by arms becomes daily MOI
and more palpably impossible not onI
l do the causes which induced us to sepaI
e ate still exist in full force, but they hay
: been strengthened, and whatever doul
e may have fingered in the midst of an,
o has been completely dispelled by subs,
:. quent events. If instead of being di
= solution of league, it were indeed r,
Q bellion in which we are engaged, we migl
y find ample viudication for the course v
y have adopted in the scenes which are no


being enacted in the United States. o.
= people look with contempt and astonisl
o ment on those with whom they had bee
d so recently associated, and they shrin
n with derision from the base idea of rene,
IS ing such a connection when they see
e President making war without the conse
IS of Congress when they behold judg
'r threatened because they maintain the WI
n of habeus corpus, SO sacred TO freemel