Year: 1863

deotness OF the State should not be considered as
oeot because the State owns cotton supposed to be
sufficient to pay the debt


In this connection it should also be borne in mind
1nat the commissioners of the Sinking Fund hold
State stocks to the amount of 81 5l9 600 and Con-
tederate per cent bonds to the amount of $780,
VOo and, besides the interest accruing on this Fund
Railroads


l. have endeavored to cooperate in every legit-
mate way with the Commissioners of the Fund in
investing its income. The judicous manner in
%nlcn It mas been managed, aid its rapid increase,
derived from our large investments in works of
internal improvements, gives the best assurance to
the holders OF our bonds that they will be pune
tuaiy PAID at maturity, and constitute one of the
eniet elements of the high premium which our
bonds command in the market The Commissioners
OF TINS Fund will probably report to you more fully
during your session.


LUNATIC ASYLUM.


BY the act OF the first session of your honorable
BODY, the sum of $l25 900 was appropriated to the
support OF the Lunatic Asylum for the years 1863
and 1864, provided the aggregate amount for such
year snail net exceed the sum Of $62 500". Owing
70 the depreciation of the currency this sum proved
10 90 nsuincent for the support of the Institution
The drafts OF the Executive Committee for the fiscal
year ending September 3Oth, 1868, which have been
paid, amount to O,OoO; and since the Both Septem
ber 1863, their drafts have been paid to amount of
S45,OOO. 1t has happened before, that the Treasu-
urer has had to take the responsibility of oyerpay
ing the appropriation for the support of this Inst
tution, and subsequent sessions of the general As
semby have ratified such payments.


At period when currency and prices are so de-
ranged, 1t is impossible to make estimates with rea
sonaole approximation to accuracy, and it is a bad
practice Tor the Treasurer to pay money not author
lied by law. l hope the General Assembly will
either authorize the Executive Committee to draw
Tor such sums as they deem necessary or make such
other provisions as they may deem best to avoid the
evil.


APPROPRIATION FOR THE SUPPORT OF. SOLDIERS FAM


This appropriation offs 900, 900 contemplated the
payment OF tie whole sum at once. In January
and February last there was not enough money in
the treasury to meet other drafts on it. and the on
~ means OF raising this amount would have been
the sale OF State bonds to an amount SO large as
would have been likely to depreciate their value in
market Believing that the object the appropriation
would be as well accomplished by paying this ap-
preparation In four equal instalments and that in
this way it could be met without recourse to the
sale of State bonds, have adopted this course and
to save expense and inconvenience to the County
Courts sent them drafts quarterly, and notified
them that If they would inform me in what bank it
would be most convenient to them to receive the
money, would place funds in such bank to meet
the drafts The banks have obligngly cOoperated
with me in carrying out this plan


These drafts have all been issued, but many of
them have not been presented for payment The
same is the to the warrants of the Comptrol
Ter in favor of the Chairmen of the Board of Super
intendents Of Common Schools.


1t is believed that they are withheld in the hope
that at some future period payment may be had in
better currency. -


sErTLEM-NT OF TUE STATES CLAIM AGAINST THE


SOUTHERN CoNFEDERAcY.


Under the authority OF the 9th section of the act
providing ways and means for supplying the Treas
ury, ratified Goth December, 1862, I APPOINTED P.
IL. Winston, ESQ., of Bertie to collect the debt due
to this State from the Confederate government As
soon as the vouchers could be put in order by the
State Auditor, he went with them to Richmond and
entered upon the duty, and has since diligently
prosecuted it. Much of it has oeen passed upon by
the Confederate Auditor and the work is now pro-
greSSlng and it is expected that at an early day
considerable part of the amount advanced by the
State in payment of her troops will be paid, and
that the whole claim will be passed upon by the
auditing officers at an carly day Il consists of
vast number of items, sustained by great many
vouchers, not always in the best shape, and neces-
sarlly requires much labor and research.


THE PAYMENT OF oUk EIGHT PER CENT. BONDS.


Not having succeeded in collecting any of the
foregoing claim from the Confederate government,
haze not felt authorized to notify the holders of
our per cent bonds, ofmy readiness to pay them
to give them per cent. bonds, if they should
prefer them, in exchange for the per cent. bonds


The salaries of the two clerks in this department
are less than they should be if they were paid in
specie. They are the cashiers of the department.
and upon their fidelity and skill depends the accura
CT of the accounts to be kept in it. True economy
requires that they should at all times be paid lber
al salary Their present compensation is totally in
adequate to their support.


1t must be manifest to any one at all acquainted
with the duties of this department that it ought to
have two contiguous rooms: one for the Treasurer
and one for the clerical force respectfully submit
it whether another assignment Of the rooms of the
capitol cannot be made to effect this end without
detriment or inconvenience to any other department


The Office hours of the Treasury, as now pre-
scribed by law, are from 9 to -, and from TO
o'clock. Nearly all the payments are made by
checks the banks, which close at o'clock in the
afternoon. The time from II till 3, when the office
is now closed, is much more important to the pub
lie than from till p. IN. The c!erks should have
some time, with closed doors, to make up the cash
account, post the books, &c l respectfully submit
that it would be more convenient for the public
and that the dutesof the office could be better per
formed if the Office were required to be kept open
from o'clock a. m to 2'o'clOck p. M, and closed
afterwards.


The act of 1885, chap 16, authorizes the hold
ers of State bonds to have them registered Very
many avail themselves of its provisions. l respect
fully submit that the assistant clerk of this depart
ment ought to be allowed small fee for this service
to be paid by the party requiring such registration


TIE CURRENCY.


1t is manifest that if something efficient be not
speedily done vastly to diminish the volume of Con-
Tolerate currency, thatit will cease to answer
the purpose of money. The Confederate Congress
alone furnish the remedy, if the disease be capa
BILE of cure, 1t seems to me to be certain that it
will not be found in any plan which savors ot'repu-
daton, nor in voluntary funding. If it be possible
to reduce the circulation to toerably healthy state
it must be done by taxation and if funding const-
tute part of the plan it should be done at very
low rate of Interest l recommend taxation to raise
the means to meet any considerable appropriation
you may deem it expedient to make. | deem the
ways and means now provided sufficient to meet
present appropriations if the currency shall not
grow worse and if the demands Of the military de-