Newspapers / The Weekly Raleigh Register … / Feb. 25, 1863, edition 1 / Page 1
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Out are th plni of 1 delilitfal pec Unv&rpM by party ng to lir lik brottew. rionsW unsound and disloyal localities,' in which thcroare persons nho would return, to the Union to-morrow, i the; could-persons who weep over IAnooln's reversef and rejoice over his suooesaes. Again, ai to Worth Car- Regiment Bill" raa essential to the defence of North Carolina! and nothing short of it would dor 'But Graham- was -elected, and could afford to rely on " the; fMilUU'! Is there " any wonder thai with this in its eye, RAIiEIGH, jrc. ; SATURDAY MORNING, FKBRUARY Jl, 1853. olina's ignoring the right Jof secession,' Mr. j the paily Progresa'.l should declare that af- HOW TUB CONSERVATIVE LEGISLA TUKE COMPROMISED THE CHAR ACTER OF NORTH CAROLINA. 1 1 is really humiliating as well as provoking to witness the effect which the misdeeds of the 'Conservative' Legislature have had upon the" , character of this State ahroid. . Its bad con- -duct has produced the impression abroad that in spite of her lavish expenditure of bloo4 and treasure in this war, th'e hearts of the mi nf tha neonle of North Carolina still yearn for the flesh pots of the old Union, .and are factiously disposed to thwart the Confederate authorities in the prosecution of tho war, by rendering the conscription and other measures as odious as' possible, co conscious were the Conservatives of their guilt in these particulars, that they "pro claimed aloud their malefactions," by pass ing resolutions that they were not. traitors, and were for a vigorous prosecution of the war, thereby pleading in advance to an in dictment" that their consciences told them should be filed against them. From the an nexed proceedings of Congress on the 17th inst., it will be seen that their "Conserva tive" Representative," Mr. Burgess S. Gai ther, on that day filed their ' plea or resolu tions in that tribunal. (What an excessive ly dignified and States Rights proceeding for a party that is constantly talking of North "Conservative" Gaither (as Mr. lender clear ly proves) not nly. shows' gross ttM&. pardonable ignorance of the lnovenient which, withdrew: North Carolina - from "the Union,' but absolutely flies in the face ;of his "Con servative" organ, and his "Conservative", friends at.home. Mr. "Conservative" Gai ther must be &. man of even milder brains than we took him to be, not to know that no suoh thing as 'i the ' right of revolution" is talked of hi North Carolina, but that "seces sion" of one of two descriptions is all the mode, to wit: "Original Secession," . or that sort of "Secession" advocated by men who, acknowledging the right, had the pres cience to foresee that it' must be exercised at an earlier period than was, contemplated by the latter-day "Secessionists," who await ed & shower of kicks from Lincoln before they wonld become "Secessionists," and who, on becoming so, took upon themselves 1.. i offli'an Us warn i(J!ISl) Anj" liCt IUB UlliUCO ill no gun net n utliubu, v the D&gislaturo beoame careless of its duty to ine ciaie ? them at par heia' entitled tv Uieni if the public exigeneie require them to be i?auB?t; : . . Vt7 fta 1 wctfon' fit of ordinanee 16, 7' lUBl UonvenUonicoBtemplated might become upon a pledge of Treasury Notes,' knd I ifr'plainly " U? iuer inai ine pieage sn; iilnot.be sold toBatisfy the loan at less than par, I see nothing in tnw ordinance, nor hi any of hose providing ' puuiic ; creators, .any inaicatioo or a purpose that the Public Treasure Jw ir allow ad .ta i ftereann f Via : i iwku4. uia nanas. ,DT geilirur & hnf fir. rrr Tr,i 't'it'w rnrcrtuiTivi?Q np TTiR ?n!eed ft had been a very little baiiness 7S5 FSXyWiSrm f 111 S purposely deskned a dimi tbpaVdhfr - nuuon or ine public debt by buying up a depre - jXiOii ine least ui mo uiaeunauio i rencj. the Conservatives of the. Legislature was their attempt, at the close of the lateses- , and to that it was your duty to conform '.j v . , -. 'Very respoctfullyjouw v . , . THOMAS BRAGG. v. W, Courts, Esq.' Now, we ask - our readers, who will they I think thire is eiven to the Treasurer no power to replenfeh the Treasury With a denre- sion, to palliate their Tindiotive acta of par ty; proscription by attempting to make it ap pear that these acts were justified by cause that Mr. Page had kept his office in bad or der, and Mr. Courts, by mismanagement, had lost the State, or failed to make for the State, a considerable sum of money. Their charge against Mr. Page the name of "Conservatives," or -Pmerra-tives" of what they had destroyed, (the old Union,) while' they dubbed their more 'far sighted, neighbors, who were not disposed to await the aforesaid "shower of kicks" before they seceded, "Destructives," : or men who wished to break, up the old Union a little before they, the "Conservatives," were ready for the operation, and had come to the con clusion that the Government was noi "the best the world ever paw." , Again, is Mr. "Conservative" Gaither so Carolina's independence, &o.t to be putting I ignorant as not to know that the latter-day or " Conservative" Secessionists, or Preserva tives of what they destroyed, had a majority in the Convention which unanimously passed the Ordinance, not of " Revolution," but of "Secession" from "the 'best' Government the world ever saw ?" . r . ' ; " . Weexpeot that by this time Mr. "Conser vative" Gaither 'falthoueh, as aforesaid, a man of mild brains) begins .to .get an Inkling of the philosophy of "revolution" and "se cession" of "Conservatism" and Dcstruo tiveiam" in North Carolina. If he does not, we shall be much' "mortified," and give him up as a bad job as "a man ; of brains mild even to softness. ' r North Carolina on trial before her "agent the Confederate Congress ! !) KORTH CXR0L1HA HIR POSITION. . . Mr. Gaither, of N. C, aslfced leare to introduce certain resoluiiona passed by the Legulature of that State, vindicating the loyalty of the State of North Carolina. Mr. Gait Her said he had been much mortified hy questions pat to him relative to the position of hU State, ana ioqairin if thrj worooetii) favor of a reconstruction T He referred for a refutation of ouch charges to the fact that the great Union party, as it was called, was now headed by Governor Vance, who needed no one to vindicate his patriotism .and .loyalty. The people of North Carolina have.never endorsed or acknowledged the right of secession but of revo lution, and they exercised that right, when, by a unanimous vote, they cut loose from the old gov ernment, ! The Conscript law waa odious to the people of North Carolina all over the State because they thought it was unconstitutional. Mr. Lander, of North Carolina, dissented from the opinion of his colleague, at least 10 far as his district,' the 8th, was concerned. He understood him to say that North Carolina had always, in all times and upon all occasions, . repudiated the right of secession. In his (Mr. Lander's) opinion, the gentleman was altogether mistaken. He bad the honor to be a member of the Convention of North Carolina vrhich dissolvr ed the conneotion between that State and the old and corrupt government of the United States. Ir that body, certain resolutions were introduced recognizing the right of secession. One of the opposite party bad gotten op anLppealedtotbem to allow his substitute to be adopted in lieu of that, which latter was expressive of different opinions, but the secession party had adhered to their policy and maintained their right. As to the conscription law which the gentle man had said was odious to the whole. State, he. begged leave to differ with him also on that point, OUR CONFEDERATE SENATOR EIECT In the course of a short time the Hon. JVm. A. Graham, the lately eleoted Confed erate Senator from this State, will take his seat in the body to -which he has bee. n ac credited by the ' Conservative" Legislature, of which he was the heart and soul, body and brains. That be is a gentleman and a man of talents nobody has ever denied but W. W. Holden, the organ of the "Conserva tive." party, and at present Mr, Graham's ckere ami and bed-fellow. .As, however, Holden admitted that he lied about Graham for party purposes," (see his files of 1846 and 1862,) we may safely assert that Graham for his people had told hira that so' far as bis own 1 is a gentleman and a man of talents. What a pity it is, then, that such a man should individual vote was concerned, it had aided in the salvation of the country. Mr. McLean of N. C., also took issue with Mr. Gaither on the same grounds, but could toot see why the conscription bill had been lagged into the debate. "1 Mr. Foote, of. Tennessee, thought it very strange that anyone should have thought of questioning the loyalty of the State of North -Carolina, since she in common with all the other States, had united and held her part in the carry ing out of every act of hostility, to the Lincoln Government. . " The resolutions were laid on the table and printed. , - - , - ' It is not at all surprising that Mr. Gaithet should have been "much mortified by ques tions put to him in relation to 'the position of his State," but we are surprised that Any man with a thimblefull of brains (and surely a member of Congress, without any violent presumption, may be supposed to have that quantity,) after having seen all that'Mr. Gaither has seen, should have felt any "sur prise" at all at "the "questions which have been put to him." If. Mr. Gai therms sensi bilities have been shocked, he has has his Conservative friends to thank for the outrage upon hi9 nervous system. They committed J it. But no matter how much Mr. Gaither may have been "mortified at the questions put to him," be has no excuse for misrepre senting tho State (already placed by: his ' friends, the "Con3ervatiYes,,, for a position sufficiently false and mortifying") by the declarations that the "Conscript. . lav teas odious to the people' of North Carolina all over the State," and that Me people of North Carolina have never endorsed the right of secession, but of revolution" The first assertion is utterly unfounded in fact, for in spite of the efforts of Mr. Gaither's "Con servative" friends to make the Uonscript law odious in North Carolina, and in certain lo- calities to incite resistance to it, the law has been so well complied with, that the State - has more conscripts in proportion to popula tion than any of jier sister States! What Mr. Lander said of his 'own District maj be said of the whole 8tate", except a few nolo- i has, by. a committee of which they composed the majority,, been sig nally refuted, and the aot of his removal placed in its proper! light of party .proscrip tion.because he did not vote for Governor Vance. The charge against Mr. Courts still stands upon the report of the majority of the committee raised to investigate it, and it is that with which we; propose to deal at this time:. j - The charge made by the majority of the committee is, in substance, that the late Treasurer had no right, under the ordinance of the Convention, to make sale of the eight per cent, bonds, or contract a loan at any interest, or to issue eight per cent, bonds for any purpose, except in redemption of Treas ury notes', and then alleges that, as the Trea surer had taken a different view of the ordi nance, he was bound to sell the bonds at the current premium, by doing which he wonld have saved the State the sum of "three hun- dred and twenty-two thousand two hundred and seven .dollars." Here it would seem that the great grief of .these fair-minded and law-abiding Conservatives, was not that Mr. Courts had Violated j law, (that, with, them, would have been a pardonable offence,) but that he had not saved money enough for the Treasury by such violation an offence, in their estimation, utterly. unpardonable. But let us look into the matter, and see whether, in the opinion of. men certainly as good judges of law as Mr! MoAden and his i Con servative" confreres, Mr. Courts dioWther violate the ordinance authorizing the' issue of eight per cent bonds, or, y negligence and mismanagement, fail; to avethe State the sum of "three hundred andtweuty-two. thousand two hundred and seven dollars." The first opinion which we shall lay before our readers is that of Bartholomew F. Moore, Esq., a gentleman of whose legal ability and acumen there can be as little doubt as can be entertained about his extreme "Conserva tism." Mr. Moore says : . Kalxioh, Jan. 19, 1863. " , D. W. Churls, Esq. -i Dear Sib : I have received yours requesting my opinion of the ordinances of the late Conven tion, to wit. No. 16, t)f Dec. 1, 1861 No. 21, of 17th Feb.. 1862 No. 35, of 26th Feb. 1862, and No. 39, of l?th May, 1862, so far as they relate to the directions to be observed by the Public Treasurer in using the Treasury Notes thereby authorized to be issued: The first of said ordinances, after allowing the issue of three million of notes -of five dollars and upwards, provides that they may be paid out to all public creditors who may b willing to receive thorn at par, and permits the Public Treasurer to iz 1 - m . . w : j. ciatea paper Dy the sale of a better.' None to re duce the manv cniranr-yaa nMvV. ;tA U Treasury to one standard, and that standard the vuoopoo ui x paj ine x reasury is supplied vssoAivjr u uiiicrtui, vaiues. is an acciaeni Biinouaoie 10 legislation and unforeseen circum stances, and not to the action of illegal fiscal ope- ranuue. . -X am respeciruiiy yours, . ' '' ; B. F. IMPOSE. The next opinion to which we tall tho at tention of.our readers is that Thomas Bragg, a gentleman .-w.-ee, -8v-,ww.u wu, siuivugu currency, is evident froJh the provision which for- timonv Was in the nbssesaion of thammilJ neither a"Conservative" nor aJ "original bid their being paid-out for any other debt of the ! 7 W 9 . p s,I0tn of, tnommit- of the Hon. i who. although nor an; SecessiorASt,,, enjoys the. reputation of being a very excellent lawyer, and a man of cool and well-balanced mind : . i i ' - " ii,' Balbigh, Jsn 1863. Mx Dxab Sib: I, have, in accordance with your request, examined the several ordinances of the late, Convention, authorizing the! issue. of treasury notes ana Donas of the State, and before giving my views as to the proper construction of tne same in certain particulars,,! deem it best to give a synopsis of the same in the order in which they were passed. j 1st, No. Iff, Ratified 1st December, 1861, sec ond session. It authorized an issue of tieasury notes not exceeding in amount at any one time three mi3ios of dollars,. bearing six rier Cent, per luiaom mieresi, payauie me lEt January, lobD, or sooner, at the option of the St&tetf undable-at me opiion oi uiu uuiuer in eii per . cent, coupon bonds, payable at the end of 30 years' ; the notes io be cancelled when paid in or funded, (being aiso receivaDie xor aupuoxic aues.) and when can celled new notes to be issued in their stead,' pro- viaea tne notes ana oonas outstanaing at any one . f 1 1 3 A. "1 .1 . . . ' 1 . time snouiu not osceca vae sum oi inree millions of dollars. Ana hy section 5, of said ordnance the public treasurer 'may borrow money from time to time upon the credit of , said lotes as the public service may require, not exceeding the sum of three millions!dollars." The interest on such loans not to be higher than six per cent., and the notes not to be pledged, issued or Isold for less than the amount due on the same including the interest accruea on. tne same. i. 2nd, No.' 21, .Ratified I7th lfeT)r;aary,1862", third session. 'To provide for the assumption and payment of the Confederate tax." It directs the public treasurer to issue an amount j of treasury notes sufficient to pay the tax; redeemable in five years, and convertible at the option of the holder, into 7 per cent, coupon bonds, redeemable ten years aiter aate. r ' ;,-r Sec. 4, provides "the treasurer is hereby direc ted to apply the treasury notes to be issued in obe aionce k laia oramance, in sucn manner as may be necessary to the payment of saidjConfederate tar, which he is hereby directed to make." And by subsequent sections it Is provided that such notes and bonds shall be ultimately paid by a tax levied upon the same persons and property as pro- viaea in tne conieaerate tax law. l 3rd, Ord. No. 35, Ratified the 26th February, 1862, third session, entitled "An ordinance to pro vide for funding the treasury notes of this State and for other , purposes." It provides that the notes already issued or to be thereafter issued un der the two preceding ordinances, "may fun ded at the will of the holder in eignt per cent, coupon bonds, payable twenty years after date or sooner at the-pleasure of the State, or in toofe to raise the Amount necessary to pay i the Confederate lax.? ' That tax was payable the 1st April, 1802,'and the two Ordinances passed on the subject, were dated the 17th and 26tb of February preceding. : No time, therefore,' was to be lost in raisjog the "moneys .There was ; not time to issoe the Treasury Notes or bends, in which thav were lunuaoie. : H( would aoswer of the Ordinance, fo apply the. Treasury. Notes in aucn manner as may be necessary", in order to pay tb tax. The Oonventien knew.very well that the notes themselves would not answer the purpose, but they were the meant by which Con federate notes br eold and silver, which wonld alone answer, was to .be raised, These notes, in furtherance of this purpose, were also made fund able in Bonds. The Convention" knowing the difficulty - you would labor .' under, crave vou a vlarge discretion. Not being, able to make the loan in the name of the State, you made it very properly through Bankers in Richmond, obliea ting yourself to place with them 8 rer eent. bonds.' Trpannrer. anS nn tin U r1 in which the notes were fundable, by the sales of t iv- .L.y Ll ' wnich they would be reimbursed. This arrange- ' W9 ogvutc, ouargeu mat nero was ment was in substance the same." as if von had pledged or sold the Treasury . Notes For these notes would have been immediately convertible into Bonds at the option of the holder, and doubt less would have been so converted aa.so'on as is sued. And that these notes were only intended to D3 usea as a means or raising money and not as a believe, the inw-abidincf' MoAden & (hi the um.uot, aiter, as tney anege, violat ing the 5 law, j make ; money, . enough for the State Jby the - operation, oi disinterested gen tlemen, learned in the: law, wha say that he, did his fulldnty in the premises, and m iact ;' could not have ao ted otherwise than as he ' did. ! But" this is not all. Mr.Iy, a mem; ber of the Committee, makes a minority, re port, in which ho- f ally .exonerates the late : testimony befpre the Committee which had not been published along; with the report of,, the majority, and which, in justioo to Blr. Courts, ought to have been published, The chairman distinctly admitted that suoh test- Statef-nor were they receivable in public dues or : 1 vi f . . i rts-iaauaoio as proviaea ior.oiner notes DUt wnen funded they we're to be cancelled - The only dif ference between the bonds and not the notes was, that the Bankers, in advancing the money for the State1, agreed to give it any premium obtained In tha sales of the Bonds, they receiving a small commission for making the sale. It seems to me that the purpose of the . Convention, as. gathered from the two Ordinances was, in substance,' to raise the amount needed to pay the Confederate tee, but was not published beoause it was hot deemed relevant or of much ; importance.- Now, a fair-minded publio will aak why the Committee did , not let the country seothur testimcny along with that which was submit ted to its judgment, and determine for itself what bearing it had on the guilt or innocenoe of the late Treasurer. We will ; tell, the ""SSiafi!'25 P"b- I" eon of Mr. Coux,. frbm i . ' . . -lXE a - n m ?. " . do aone, or more surely done at 8 per cent., re make his entrance into the Confederat e Sen ate with such a weight as he-must carry around his neck. The discussion, or perhaps it should be called conversation, which took plaoe in the House of Representatives on the 17th inst. between Messrs, Gaither, Lander and McLean, as to the real position f North Carolina, will give him a foretaste of what is in store for him.. He it was who, in the last canvass, rang the changes against the constitutionality and expediency of the Conscript law. He it was that incited the pe runptrjAmnd fry tfl Jgjatnrfl - far his "reverence," Graves, theg in the hands of the ''Confederate authorities. He it was .who defended the, aforesaid "reverend" gen tleman when he was given up for trial ' for treason to the Confederate' authorities. He it was who was prime movef in the passage of the "Personal Liberty Bill" which nulli fies the law of Congress giving power to the President to suspend the writ of habeas cor pus, and he it was who was mainly instrumen tal in defeating the bill for the punishment of the aider and abettors of des'crtersVeo urgent ly recommended by Governor Vance. This is the record with which the Confederate Sena tor elect from ;North . Carolina will. have to meet his fellow members of the Senate, and one more embarrassing in the presence of such a body we cannot imagine. .It is true he voted, after his election jo the - Confed erate Senate, against the . "Ten Regiment Bill." And why Because it was uncon stitutional and nullifrcatory because it was uiw;uiafceu to oring on auacuuies injurious 10 me otate and the Uonfederacy ? Not at' all. But because, while it would do neither the "Mihtia" could attend, to the wants of regard to using the State Treasury Notes in pay ment of the dues of State creditors, it is clear that the great fear of the Convention was that they would depreciate ; and hence it is provided in the first. -of said ordinances, that .however used .in dis. charging" public does, j they shall not be passed under par, but if the public creditor will receive r in six er cent, bonds, payable thirty years after the' 1st of On his responsibility as a lawyer January,1 1862; exchangeable into trbasur)- notes til such notes become' due. It furtJier provides that all public dues of every kind shs ll be paid in State treasuryn6tes,note3 of the Confederate States notes of such solvent banks of this S tate as shajl receive and cedtinue to receive and pay but at par the, treasury notes of the State, o in gold and silver coin. It further provides th it the notes paid into the treasury , for public dues or when fuBdeain bonds, may be re-issued in payment of debts of the State, or in exchange for the said six Eer cent! bonds of the State, on application the older of such bonds at any time before theotes are due excepting the notes issued to pay the Confederate tax, which are not to be used in the pavmentofany other debt of the State. And Sec. 4 allows a further issue of one million and ja half of treasury notes, to be prefaced signed and "borrow money from time to time us on the cred it of said notes, as the public service may require;" Providti, nevertheless, "That no Treasury Notes shall be pledged, nor shall they be sold, or issued for any purpose,"' at less than par, The ordi- I nance further provides, that the holders of such Dotes may fund them ia six per cent, bonds of the fitate. I -i-'isP1-'. - :'4 ' The second assumes the State Confederate tax, and directs, wa trie uieana vt its ' pay tueat, tbo sue of Treasury Notes fundable in seven per cent. State bonds, and expressly directs the Treasurer to tapply the notes "in such manner as may be necessdi-y to the payrnent of said. Confederate tax." The third' allows the holders of notes issued un der either of the two last mentioned ordinances, to fund them in State bonds, bearing, six and eight per cent, 'redeemable at different times. . The fourth provides for an additional issue of two millions of similar Treasury Notes, and al lows them to be funded in like manner. All these! ordinances were made to provide a fund to pay the publiccreditors of the State, ex cept that one which assumes tie Confederate tax. As the Confederate Government - had prescribed only two kinds of currency,' receivable Jn pay ment of its tax, to wit, Bpecie and its own nqjes, it behooved the State to procure the one or the other ; and as it could not be foreseen that the Treasury Notes of the State could be readily ex changed ion either, tne uonvention gave, In the ordinance of assumption, full authority to the Treasurer to apply the State Treasury Notes, is sued to pay that tax, f In such manner as may be. necessary to tne payment, or said Confederate tax." In payment of this taij the State, ia fact, .anticipated that there might be. a sacrifice in coin-' verting Stale Treasury -Notes . into Confederate Notes. It turned cut, however, that when the day of paying 5 that tax arrived, Slate Treasury. Notes were, for some cause,-thA preferable mbney, compared with Confederate Treasury Notes; and the jTreasurer, Ma . exchanging1 or applying the State Treasury Notes for Confederate Notes ob tttined a small premium. It was right to receive the premium, because, as the other btates paid in deemable at the pleasure of the State, or 6 per cent, with the privileges conceded to the holder of such bonds. ; 'And I think that you would have been well warranted in agreeing to issue the Treasury Notes, and when issued to be deposited with the bankser or paid to them at par, -for the loan, and they would have been immediately con vertible at the option of the holder into 8 per cent. Bonds. The arrangement made was substantially the same, while it was more advantageous to tha State, as a premium was obtained for the Bonds. I understand that some complaint is now made, and that you are charged with a dereliction of duty, in not exposing for sale, for a premium, the bonds in which the treasury notes, other than those provided for raising means to pay the Con federate tax. were fundable. A sufficient answer to this is to be found in the fact that, by the pro visions of the several ordinances to which , have referred and a synopsis of which I made, no such jpower wa3 given to you, and no such discretion as to the disposal of the treasury notes as that con Tainediri the ordmance assumTng inerpayBienTn the Confederate tax. True-it is, that by the prd iaace first named by me, you were empowered to borrow money upon the credit of the notes, from time to time, as the necessities of the State jnight require, paying interest upon such loans at a rate not exceeding 6 P-r centum pCr annum. ;. This policy was tried and failed to accomplish the pur pose of the ordinance, for money could not then be borrowed at that rate; nor were the notes con venient as a currency, it being necessary to com pute the interest due upon them at each transfer, and so much was this the case that some of the banks, as is well known, declinod to receive them and pay4 them out.. The policy , was therefore changed by the Convention, and that policy is ful ly expressed in the title of the ordinance by which the change was made. NoJ 35, ratified 26th Feb ruary, 1862. It is entitled" "An ordinance to rovide for funding the treasury notes of this late and for other purposes.", By it no power Whatever is given to sell .Bonds and no discretion as to the disposal of treasury notes. At the option oftbe,older they were to be funded in 8 per cent Bonds or 6 per cent Bonds, according to the provisions of the ordinance before set forth; It is evident from tb whole scope of that and the sub sequent, ordinance, that while the Convention looked, to a certain extent, to the circulation of treasury notes as a currency, their main "purpose wa3 io raise money in that way, and to retire the notes by funding the debt; dollar for dollar. They well knew the evils resulting from a redun dant paper-circulation, and evidently did not de sire to increase them, by putting afloat millions; of unfundable notes in addition to those which they foresaw would flood the country, from the necessities of the Confederate government. .The nuroose was. therefore, to fund, as soon as oractU cable, the existing and prospective war debt of the State, and not to have the notes used as currency any longer than was necessary to raise the money wanted; except the amount xf one million and twenty thousand dollars of small' notes. These were intended for currency and to answer an In- dispensible want for change in the every day office, the Conservatives were oonsoious that in a spirit of mingled . vindictiveness and greed for ofiioe, they had been guilty of an aot which, if not covered up and ; disguised by some pretenoe.or othar, Wonld bring down ! upon them the indignation of a people whose j vital interests they had' made subordinate 'to j their Wn vile passions of revenge and ava- ; rice. Hence, t the i very heel of the, sea- i sion, when they thought they could rush the charge through post haste and . leave Mr. Courts defenceless, they oamo forward with i it. vThey thought the triokf,i a suro oneJii They find now that it is trumped, and that' the case of Mr. Courts stands before the people pf North Carolina in its true light of1 a party which has Warred alike against the material interests of the State and .her char acter and honour. . . ' FROM NEW ORLEANS. ' Mobiex. Peb. 18. Tb Advertiser.hiid Register has a special dis. patch dated the 15th. : . ; y; . .v ; ; The New Orleans Picayune received at Langl- pope, says the Delta has been suppressed: The cause s objectionable articles. It is superceded !' by the Erat a, new paper. . - J . ; j ! It Is reported Banks was shot from a window.' The Veiiatija it was caused by aa officer careless ' ly throwing some explosive cartridges from the window, which exploded. . : " j. f The Bank of Louisiana was burned oh the 13th ; fast. " ., -.!y;' ' ' '.. The Delta mentions a rumor that Boiler wu ' shot by J. E. Bouligny. . ( ' 1 ' I '. Grant has suppressed the Chicago Times in his- army. The Federals are making good headway at Ta zoo Pass, but ample effortsjare believed to be ma king to arrest their further progress. ; LATEST FROM THE NORTH. ; v: RichmobtdJ Feb. 18; N orthern dates to the 1 6th received. ' .' : Sir Robert Feel had been ipeakibfs-on ibe Afcner'-1 icrn question, and' expressed, the hope that the States would ultimately become separated and In- i dependent of each other. , He condemned the odious and abominable proclamation of Lincoln, which ' emancipated slaves tin the rebel States onlv..! '! " '' . I 1 .' !-.! issued as (n the ordinance ratified the 1st Dec., I business of the peoplein the absence of gold and North Carolina for local defence 1 What a rasping commentary 'was this on his Conser vative compatriots of the Legislature who wore', untjl all was. blue, that the uTen 1861. And by sec. 5, the amount or notes and bonds given for same is not to exceed! at any time the amount of notes authorized py , this and for mer ordinances. Soc. 8 allows in addition the issue of one million dollars in sums of $2 and un der. to be used in liquidating the 61aims 'against tha state, ana receivaoie in an dudiig aues, "out not to be funded in,boridsof the State." I 1 4th. Ord. No. 39, Ratified 12lh M$V; 18624h i Session, f'To make furtherprovision for the pub lic treasury ; ' authorizes the issue of It wo millions more-of notes lot certain specified denominations. in accordance with provisions of the Ordinance of the 26th February, 1862, should it, m the opinion of the Governor and Treasurer, becorfle necessary, and that said notes shall be fundable' as provided in said ordinance. In; the event of thf f rea3urer being unable for any cause to issue said notes, he .is allowed by Sec 2ndi'to borrow any' portion of the said two millions ' Crom the- banks or other sources,'! and by Sec. 8, he is also authorized to issue twenty thousand dollars, one-half in ten cents and the other! in five cent notes in addition to the small notes before authorized. ?! It will thus be seen that y. i' werfe authorized bv the several Ordinances, to issue from time to time, an aggregate of six and onerhaif millions of notes, the hrst three millions originally fundaole at theoption of the bolder, in 6 per cent Bonds, payable in thirty years, but by the ordinance of the 26th Februarys 1862, and .that of .the l2lli May,' 1862, so much, of the three .m illions as bsi' not been so funded, and the other three "and la 'half millions were made fundable at (the option of the holder m 8 per cent. Bends payable In twenty years, or sootier at the pleasure of the State, or in 6 per cent. Jons, which the State could not pay sooner than thirty years, and these thirty yeaf Bonds re convertible from time to ttne into treas ury noUs, at the option of the. holdei , at any time before the treasury notes should, fall due. You were further authorized to issue one millioii and twenty thousand dollars in small notes,'- receiva ble in public dues, but not fundable. And also an amount of notes sufficient to pay the Confederated tax, iunaaoie, originally, in i per nt. xonus, payable In ten years, but soon after changed to 8 per cent, and 6 per cent. Bonds, as before : slated, and before any notes or bonds had been issued un der the Ordinance. : I ; J i I have seen' your report to the H )use pf Com mons, in response to a resolution of that body, and 1 x aiso learn irom you personally, wnat steps yon silver; and hence it was provided that these small notes should not be funded. . 1 am told that it has ' been made a ground of complaint also that, in some instances, Bonds Were issued for Confederate notes at par, whereas the ordinance only allowed the funding'of treasury notes. I can see no objection Whatever to such beng done. As I have already said, the purpose was not to get out and keep in circulation treasu ry notes, but to raise money for the; State,- for which she was willing -to jay . certain specified rates of interest, obtaining time to pay the prin cipal at a distant and more convenient time. The.ordinanc0 made Confederate noted receivable in payment of all publia dues alike with gold and silver. Had treasury inotes been-issued in every case, they would have been immediately convert ible into bonds. The operation would have proved useless and the State would have derived no ben efit from it. On the contrary It would have in curred the trouble and expense of the issues. " It is but moving in a .circle, and at last we' come back to the point from which we start--the obtain, intf of the amountlof money needed by the State and the funding of the debt .when made. The: State has not lost one cent by the operation nor. would shejiave gained one by the issue of the notes. By. the ordinance last recited, it seems to have been apprehended that you might have some dif ficulty in issuing the two millions, of notes, there by authorized, as soon as. needed, and in such case you were allowed to ' borrow, any portion of it of tha banks or from other sources. . The ; ate or manner of makins: the loan is not declared, v But . ? the rate and manner of funding the debt were well fixed and determined, I can see no objection whatever to your receiving funds, at par, for: the' Bonds, in .the first instance, and thus funding the debt, which was the great purpose of the law; es- peciaHy when the funds.received were receivable in airpublic dues, and' were made by the ordi nance equivalent to treasury notes or-gold and silver, fit may have been that a, public sale of the Bonds of the Statof would have realized, to it more moneys as they are now and ; have been for some time it a premium, it is intimated in your response to the House of Commons that it was hardly practicable to advertise and await public sales, owing to the great and constant pres sure upon you for funds to meet,the demandwpon the treasury, liut, however, that may have Deen, I repeat, that the la w gave you no such authority, Rumors of contingent recognition by. Napoleon are ventillated by the London press. I ; . -' The Manchester Guamiofl hears of a difficulty; between the British Government and the Cabinet of Washington relative to the' seizure of British Vjessels in the Bahamas: ; ' v H ' I The London Time's says, perhaps at no time diK ring the war has fortune declared so directly!, against the North over the , whole area of milita ry operations. . . , j- v '.! ' . I K Northern war newt is unimportant. An order had been issuea prohibiting the circulation of newspapers in the army of the Potomac. ' ' ! ' Vallandigham, in a speech at; Newark, said ; seventy-five out of every hundred men of the Northwest are in favor of a cessation of hostilities and the commencement of the experiment of re .storing he Union by constitutional and peaceable ' measures. Towards the close of j bis speech he; asked, "Will you send your sons again to the bat- . tlefleld 7" (Overwhelming cries of no, never IV . Gold closed in New Tork at 155J. p 1 IMPORTANT FROM CHARLESTON PRO-! l: CLAMATION FROM GENERAL BEAU- !. .:BEGARD. . ; ; f.; - " ; , :"':- ':'': CHi.LksTOX. Feb. 1T.! The following . proclamation from Gen. Beau regard will appear in the papers to-morrow: . j . Haxixja's Dke't oj-Soirrtt Carolina, . : ' Georgia and Fla., Charleston, Feb. 18, 1863. Kj It has become my solemn dotyi to inform the .authorities and citizens of Charleston and Savan nah, that movements of the enemy's fleet indicates an early land and naval attack op one err both cities, and to urge that persons unable to take an active part in the struggle shall retire. - '. . . ' '. It is hoped, however, that this temporary sepa ration of some f you from your J homes will be made withoutalarm or undue haste, thus showicg that 'the only feeling which animates you in this hour; of supreme trial Is . the regret of being una ble to participate m the defence Of your homes, your altars and the graves of your kindred. .' Carolinians and Georgians I. tha hour is at band to prove your country's cause.' . Lt all able-bod-ied mem from the seaboard to the mountains, ruth to arms.. Ba not too exacting' in I lb e choice Xt weapons. Pikes'' and scythes- will do for exter-' minatingtyour enemies;' spades - and - shovels for prcwdcting your firesides To arms, fellow-citi-zens l SfeCome, to share with us-our danger, our brilliant success or our glorious death.- -; - ; .'.. ' (Signed) , G;,T. BJCAUItEGARD. .' ... - ' : , ; ' Gen. Cbmmandiog. Official. - J: JL. OTEr A; A. ii.y Final preparations' for the expected attack are beiflff rapidly , perfected."' Trodns and people are r- it H IJIPMIW Ha. ! hi nri -
The Weekly Raleigh Register (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Feb. 25, 1863, edition 1
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