North Carolina Newspapers

nil ' -. - 'V ' If' I 1 v I I .'1-1 11 I . I 1 7 .1111 II:.. II mm Vf: RALEIGH WEDNESDAY MORNING JULY 8 ; 1863: .N0 27 VOL. lxiii - V ; : 0 jxo. IV. SYME, Editor and Proprietor. Oars ue the plans of fair delightful peace, ; Unwarpedby partxrage to live like brothers. SATURDAY MOBNINg, JULY i, ,1883. THE. NEWS, . On )he progress of Gen. Lee's army north-1 ward, the eyes of the South ara now nxea with intense interest. Tfcus far our forces hare "marched into the.bowels, of .the en- .mi's "land" without molestation. A torpor or a panic seems to have seized the Pennsylva- nian and thev have not as yet maae a Biaua for the defence of their homes and firesides. We have very liOle doubt that our army has taken Harrisburg by k flank movement from Dancannon, and ) that we now have posses eS3iod of and controul the great Northern Central RaUroad. . What is the ultimate pur pose of Gen. Leo is yet wrapped in profound mrsterv. He mav no bound for Pittsburg, a most important "point, at which are located extensive iron foundries, and manufactures of all descriptions, and a point so located as not to admit of a strong defence-Q Qr ne - J J - most unbounded confidence that he will at the proper time make his appearance at tho proper place. In the meanwhile we may all rejoice in the fact that the Yankees are tasting the sweets of that oup which they so ruthlessly commended to our lips, and that our gallant soldiers aro revelling in tho de lights of a land which literally flows with milk and honey. No one who has ever visi ted the portion of the country in which Eweli's forces now are, can with a dry mouth think of the provant with which it abounds. It is a glerious country for a summer cam paign. Fine scenery, fine bracing air, and the abundant means for a wholesome diet, will ensure .robust health-to our soldiers. The lixa stone water may go a little amiss with them at -first, bat thay will, soon get used to it, and come to like it better than free stone .water. ' ' Yankee movements on the Peninsula seem to be somewhat in a fog and all sorts of re ' Dorta of their numbers and whereabouts are daily current in Richmond, est apprehension, however, safety of that city. , Not the slight- is felt as to the 1 From Vicksburg we may hourly expect stirring news, as the intelligence which will be found. inTto-day's paper,- warrants us in expecting that Johnston's long expected movement is about to be made. We have always believed that he would not move un til he ought to move, and we are, therefore, confident that his movement will be success ful. A ' THE VERY-LATEST! . EN. II ILL ATTACKS AND - WHIPS THE YANKEES BELOW RICHMOND. ; Dispatches were reoeived in this city yes terday stating that Gen. Hill's corps attack ed the enemy four miles, below Bottom's Bridge on. Thursday, afternoon, and drove them within five miles of the White House. Prisoners captured, represent the Yankee force to be s2O300. Large numbers of Yankees are said tfr; tein King William county, moving in the direction of Hanover Court House. Iu Richmond ' business was suspended and all tire citizens capable of bearing arms naa attacnea themselves to some military organization. There is said to be no alarm m the city, but the utmost enthusiasm among the citizens. . Dispatches from Chattanooga' state that it is believed that important movements are on foot in Braggs and Roseneranz' armies. Reports deemed reliable state' that-Rosen- cranr attempted to flank BraggV right, and- was moving on Chattanooga for. that purpose, but he turned back when he learned onr for ces at that place were ready for him. Bragg' left is understood to be atT ullahoma, and his right atDeohard,in a strong position, and perfectly confident. The Yankees are said to be' making a raid into East Tennessee. They were at Sequatchie-Valley onTuesdaand on. Wednes day communication between Atlanta, .GaM and. Knoxville was cut off. : - . . The Impressment Commissioners of the several States met in Convention at Atlanta, Ga, on Wednesday. Virginia, North Caro lina and Florida not being represented, and the other States only partially so, the Con vention , adjourned to the 27th inst., for .a full attendance, when it is understood im portant matters will be considered. Ralxioh isd Gastow R. r. Co lUTha Stock holders of th company held their annual meeting n thu city.on Thursday; The following Direc tor, were elected : G. W. Mprdecal, of Wake, Dr." W. J. Hawkins, J'B. Batchelor, of Warren. S.3 R,y?ter of Granville. Dr. W. J. Hawkins unanimously elected President by the board. ctn0' aDd energotiouperiBten; aaat, p, i Dann, .Esq., Was also re-elected. ; mav have his eye on tho City of "Brotherly Company., But, unfortunately for the ever- been snubbed most awfully, and that the Con fed Lo, ot on the Federal Metropolis. Bat, willbg Colonel, Stockholder., qt enter- ertGS"i '"Cule'Lo p'll alui no matter where he is lobkingi we havo the taining the most exalted .opinion of his ad- authorizing the several Banks of the State, by GOVERNOR'S MESSAGE. Ia laying toAiay Governor Vance's Mes sage before our readers,1 we take great pleasure io saying that its recommendations. are wise and iadicious. To. have advised tTiAT.maUnrA tn nmMhit: thi reaention . . r . j Confederate Treasury notes issued prior to December, 1862, for the payment of taxes, would have been unspeakably misohievous. Tho Legislature wiU jiCSoubt act in cfor mity with the Governor's advice, and by do rng so avert a great mischief. l?ho Governor, in defiance of the advice of the "Standard," atjheres to his purpose of complying with he requisition -for 7000 troops made upon him by tlje '.President of the Confederate States. What action the Legislature will take in this case remains to be seen 11E-EI.ECTION OP A It All. ROAD PRESIDENT. . Dr. Wm. J. Hawkins was unanimously re-i elected president of the Raleigh and Gaston R. 11. Co., on Thursday last. By tho re-election of the Doc tor. "as fine : a plot, as ever was laid" was spoiled: I It was hoped in cer- I tain quarters after the "appointment of State Directors, that it might so turn ont that a certain Col. George Little, who is always ready with his services "for a consideration' might be installed in the presidency of the miuistrative abilities, elected on their part 'Directors who favored the re-election of Dr. Hawkins, and the concootors of the plot to oust him made a merit of necessity, and with ss g0fl a grace as .possible, voted for Dr. H., and made his election unanimous. We understand that in the North Carolina R. R. Co., a' drive is to be made at President Webb. THE WEATHER ANp THE CROPS. ' We have (had- more than a fortnight, of rainy, damp and muggy weather, and we fear that a great deal of the wheat crop which has just been harvested has been seriously injured. We have heard from different quarters that the wheat standing in . shocks ha badly sprouted, and we fear that is the case in .Virgin! aa. well . as. , in this State, as our accounts 'from that State represent a prevalence ot just such weather-as we ore having here. Corn oh low grounds has been injured, if not destroyed, ' by the continued rains. Upland corn, however,' we hear, is looking well. When tho harvest - of early wheat bommenced here, the weather was very propitious, and that portion of the prop, we presume, has been housed and saved. ' EXTRA SESSION OF THE LEGISLA TURE. Both Houses of the General Assembly con veneddn extra session, in obedienoe to the call of the Governor; in the Capitol on' Tuesday Laatl A quorum being present in both Houses, the members were called to order ' by the Speakers, and after a few preliminaries,' Committees were appointed to wait upon the Governor and notify him of the" readiness of the Legislature to receive any communication he might wish to make. The Governor's Message and a communication from the Public Treasurer were soon thereafter pre. seated, and shortly after they were read the two Houses adjourned. : On" Wednesday at 12 o'clock the two Houses met in secret session to receive a verbal commu nication from the Governor. After appointing a joint Committee to consider matters referred to in the Governor's communication, the Senate ad journed. In the House Committers were appoint ed on the currency And on that part of the Gov ernor's Message which relate to amendments to the militia law. Mr. McKay introduced the following resolu tions,' and they were- ordered to be printed and referred to the Committee on the currency. "Whxkxas, The "Legislation oftfietjongTess of the Canfedeate States, requiring that certain xtsaes of Confederate Treasury JVotes te fupded before the 22d of Apr jl and 1st of August, 1863, and thereafter not . fundable, and the action of the Legislature of Virginia- may have the effect of depreciating the value of these notes : . Jlesolvedt That our members elect to the next House of Representatives be requested, and our Senators instructed to urge and vote for a repeal of the 601 of Congress, entitled an "Act tonro- vide for the-funding and farther Issues' of Treas ury Notes, so tar . as it relates to the funding of the notes., ' . Resolved, That we have entire confidence in the currency of the country, and sheriffs and other, collecting officers, are) expected 'and directed in compliance with an ordinance of the Convention to receive Treasury Notes of any and all issues, in payment of all taxes, due to the State or to the counties,' for school purposes, or taxes for the poor, and all other dues to the State. - Resolved, That the Legislature approves of the course of the banks generally of North Carolina, in continuing to receive all issues of Confederate Treasury Notes, and -recommend that they con tinue in their patriotic efforts to strengthen the, "sinews of war," the currency of the country. Resolved, That the sheriffs are hereby directed to pay into the Treasury before the 1 si of August next, all such- issues of the Confederate notes as are fundable, which they aaay have received in payment of taxes due to the State, and the Treas urer is directed by and with th'e order and con sent of the Governor, to fund the whole or any part ef the issues so paid in, and to sell the bonds at par Or for a premium, and use the proceeds of the sale of the bonds as the fioanees of the State may require ; f Mr. Walser introduced a, bill on- the same sub ject, and Mr. Avera a bill to amend the militia law. After the transaction of some other unim portant business the House adjourned. f The Legislature on Thursday passed the cur rency bill reported by the committee on that sub- ject, an' abstract of which we subjoin as wo find it m the state J ournai : All taxes are to be received in Confederate treasury cotes without regard to their date of is sue. Sheriff and tax-collectors are to pro ceed, forth with to the collection of taxes, State and county, and are required to pay thetn into the of treasury or sach other depositary as the Public .1 Treasurer may establish at Asheville or else whoie, on or before the 28th of July instant : also, td pay over all sums collected on account of counties by the said 28th July. ' - ; i As an inducement to sheriffs and collectors, an additional commission of -one. per cent, is to be paid , on all sums collected-up to the 28th of July. All Confederate Treasury notes issued prior to the 6th of April, 1863, which may be paid into the Treasury for taxes, or be in the Treasury, on the 31st of July next, are required to be funded by the Public Treasurer ih 7 per cent bonds of the uonieaeraie oiaies, except euco. buiu ns4uj w riecessary and aTailable for current,expenses. . ; County Trustees or 6th'erflscafagents of coun ties, and Chairmen of Boards of County Supe'rin tendenlsof Common Schools, are authorized to invest their trust funds in 7 per cent. Confederate bonds. . . ' The bonds purchased-by the Public Treasurer may be sold by him at any time when the exi gencies of the Slate require it, at par or at a pret mium. ' ' After the 28th of July next, sheriffs and collec tors are to go ti and collect the residue of the taxes then unpaid jn Treasury; Notes of any issue tendered, and make a final settlement with the Treasurer by the 1st. of October, as now required by law. . r - " The abstracts of tax-lists must be returned by County Court Clerks to the Comptroller on or before the 27th of July Instead of the 1st of Au gust. ; These are the material joints of the law passed by the House, and it will be seen that the mis chievous movements and recommendation of the Holdenites beaded by Mr. Treasurer Worth, have order of their several Boards of Directors, to in vest in anv Stocks or Bonds in which they can now invest by law (which .indicates, of course, Confederate Bonds,) without limit as to amount up to 1st July, 1864 The House also passed another bill of impor tance, viz : A bill authorizing agents, trustees and ther persons holding trust funds, to invest them in bonds of this State or the Confedarate States. MESSAGE OP GOVERNOR VANCE. QeAilemen of Vie Senate. . and House of Commons i The reasons for my calling you together atfeuch an unreasonable time, and so soon after your ad journment, will be found in the accompanying able and interesting report of the Public Treas urer. The gravity of the question, whether consider ed in reference tc its probable effects upon the 11- nancesna credit of tnesute, or upon tne inter est of the people and toe success of our com mon cause, will, I trust, constitute an ample spol ogy for xoy - action in calling ,yottto2f thert in wnten l Dflfla noinyr was unanimously sustain d by the Council of State. . . Bv a recent act of Congress, all nen-intrsi bearing Confederate Treasury Notes were classi fied and a limitation put on the time of funding them, as set forth in the accompanying report of the Public Treasurer. By this action, intended to reduce the great volume of paper money in circulation, by causing it to be funded, the notes of the two issues referred to were rendered of less value than those of later issues '; and though to that extent it was a repudiation of them, no action would have baen necessary on the part of the Legislature had the matter ended here. But the Legislature of the State of Virginia.being then in secret session,, immediately provided against these issues being received in payment of taxes, with a view, as was said, to aid the operation of the act r I i i a iL. J! oi congress, oj uaaiemug vuu juuuiug pruuuss-; and soon thereafter the banks of the City of Rich mond, actuated, no doubt, by the same patriotic but unfortunate motive, declining to receive them, it at onte became a matter of Berious concern with the Treasurer and myself whether some legisla tive action would not.be required in self defence, and if any were required, it mnst be soon, as: the collection of the taxes begins in July. , : The Ordinance of the Convention, No. 35, Feb ruary Session, makes it the duty of the Treasurer to receive these issues; but if we were invested with jower to reject them, it evidently would not become him to exercise it under circumstances so different from any contemplated by the framers of the Ordinance. To continue to receive them after this partial repudiation of Congress, and after the Legislature and the metropolitan banks of Virginia had re fused them, would of course have subjected .that officer to the danger of filling the Treasury with notes greatly depreciated, it might be, or perhaps entirely uncurrent. There , was zfo telling how soon the other banks of the country might follow the example of those of Richmond, nor what aS- tion other States mlgnt tafce ; and or course It bet ing impossible to fund it all, and inconvenient to fund any, so- long asikwouldpass, it might be rushed into thir owe and paid into our Treasury Such- a result would be ruinous alike to her credi tors, her officers and her soldiers. - This created a' responsibility I too great to be borne by the Public Treasurer, without Legisla tive sanction, and the matter Is therefore submit ted to you. j v After a careful survey ot the situation, I confi dently recommend you to provide for the contin ued reception ot these notes, as the safer and more, honorable course. So far no other State ha? fol lowed the example of Virginia, and no banks but side ot Richmond, in the whole Confederacy, have refused- them: Oar example1 may have a most happy influencenpon the contemplated action of others. No more deadly blow could be . stricken our cause than the repudiation of our currency. And that the honest, old-fashioned, debt-paying State of North Carolina should be among the first to dishonor the money paid, her citizens for their substance f Qd her soldiers for their blood, is something I should-regret living to see. ' If one issue of the Confederate notes ba good, then alLare good, since the same honor is pledged for their,redemption; It is exceedingly dange rous to take. the first step towards dishonoring, in the slightest degree, our enormous volume of paper currency, xne action of one forces tne ac-. 4ionbf another, when if all "stood firm the public credu might b saved, note. from vhiuvnr c A refusal to receive these notes, from whatever cause and however weighty the reason, would create among the non-commer cral classes the most general alarm and even dis trust ; and the want of confidence Would- become universal. The daoger can now be slopped. If we fail to check it, in my opinion it will be be yond remedy. - . ' The suggestions of the Treasurer in regard to the manner of providing against any probable loss, are well worthy of your consideration, and I have no doubt will have great- weight in your deliberations.-; . : . '.- Desiring to detain Jyo'u but a few davs at this busy and inconvenient season, I refrain .from bringing before you various other matters which might well claim your attention at a regular ses sion. : I will therefore call to your notice one more subject, j. ; ' '" ' "". "4" -v' .The President of the Confederate States haying ' called upon me for 7,000 militia, it becomes'im- portinVto revise the existing imilitia fewincerr $aW particulars.both to facilitate their raising and equipment with all possible speed, an to. enlarge the lists of exempts for the proper protection of the plate. In regard to these amendments -I will takai pleasure, in consulting withjand as4iatins; your military committees. :: ij;., ,;J ij-'yr, v?r i Permit inje to thank you; for. your prompt as semblage at my call, and to congratulate you upon the improved condition of our affairs! State and ntftiopal. 3inqe you I adjourned our.' gallant amies have again won great victories, and driven, back with' slaughter and confusion the vast forces of the en emy. CTbe danger of suffering for the lack of foodi nas nappuy passed away, and the gooqness and mercy of God has visited us with a harvest un paralleled, while the growing crops everywhere promise equal bounteousness. : - Lgt ,H gather fresh courage from these Divine biasings, and struggle with renewed. sength. for the b"or an,d independence of the country. ' - . : : I" ,- " -, .V :. Z. B. VANCE.' s 1 " ' ' B-;v-:'-.-. COMMliAICATIOJf FROM THE j PUBLIC TREASURER. If " Tbeasuky Department, T Raleigh, June 29t,b, 1863., To His Excellency Gov. Vance; 1 i Soon. after the passage of the Act of pongress, providing for, the funding and further issue of Treasury Notes; approved 23d March,' l&st, and the Act . of tte Legislature of Virginia! making only the Confederate States', non-interest bearing notes of the denomination of or over five d'ollars,- dated and issued oa and after 1st Apry,1863, re reivabie in payment of taxes and other public duea to the State,' I I addressed to your Excellency a communication! suggesting the propriety of convening the Council of State and submitting t them the question whether the General Assem bly ought not to be called to consider twhat Leg- illation on the part of this State, the Acts Have; rendered necessary. ; . aforesaid , ine uonfeaer ate Treasury JNotes no! bearing interest, issued prior to the passage of this Act, were made fundable at the pleasure of the hold er, in bonds of the Government, bearing interest at the rate of 8 per cent, for the issues dated pri or to December, 1862, and 7 per cent, for the sub sequent issues. , , r' , The Acts under which, these issues were made, made nolimitation as to the time within which these notes wero to be presented byj the holder for funding. ' . H The Act of the 23rd March last, in ,effect clas sified these notes and others which th;e Act au thorized to' be issued ;. and put a limitation on the time, of funding them as follows : 1 1 . - t: The holders of the issues dated pfior to De cember 1st, 1862, were allowed to fund them' in 8 per cent, bonds, at any time prior toi April 23d 1863; ip I. per cent bonds, at any time after 22d, April. 1863, to and including Aug. lsti 1863 ; and after. August 1st, 1863, they were not to be fund able atalL . 2. Notes dated- after 1st December 1862, and before 6th April 1893, wore to be fundable on or before 1st August 1863, in Y per eent. bobJJs ; and afterwards in 4 per cent bonds. j j 3. - The Act provided for a hew issueof Treas ury Notes, to be datedonand after 6th Kpril 18133, the issues not to exceed fifty millions In any one month, -wfctch were to - hava the. morth of their las cs printed in large cnaracters, across the face of them, and were ; to be fundable for : one year trom the 1st-day of the month printed; across the race of them, in ft per cent bonds. : . The primary - quality of these issues making them fundable a't the pleasure of the holder, with out limitation of time, in '.bonds bearing a high rate of interest, -had tesded much tb.give them currency, but the vast amount of issued had al ready greatly depreciated their value, so that sup plies could only be bought with them at extrava gant "prices, and these prices were lfliely to be 'greatly augmented as the redundancy of the cur rency increased, whereby the issues would soon become so great thu it would be impossible that the Government could pay them-; and conse quently ly publio confidence in them 'would be lost. The evil'was the redundancy of the cur rency and the high rate of interest, land conse quently, if any remedy could be devised, it must necessarily be sought in a diminution of the cur rency and a reduction of the rate of interest. . The policy of Congress was teTfing about this diminution : r . 1st. By inducing the holders to fund the cur rency : promptly, Dy limiting ine; ucae witnin which the-fundmg would be allowed at the rate of interest originally fixed, and by mjaking the first not fundable at all, and consequently un current, if not funded by the 1st August, 1863, and the second class-of less value, and cdnaequent- y less current than tnetnird class, thus operating c.n the holders to fund and diminish the currency, both; by motives oi interest anu lear or. jpss. . Z. -Jsy aDSorDing a very large amount ot tne currency, by a heavy mpneytax. f! I ; . 3d, By furnishing tne army With mnch of its supplies by a tax in kind, and thus avoiding, in ' future, excessive issues of currency, f i ; While yoar Excellency was considering the expediency of convening . the CaUncilf of State, and the matter had become the subject' of.ptrblic disctrssioriTtnaBy'distinsuished.iadiYidul main tained, on various grounds, that the occasion did not warrant the expense and inconvenience of convening the General Assembly, samf insisting that the 2d section of the Ordinance -NoV 35, February session of the Convention conferred on the Public Treasurer the power of prohibiting the Sheriffs fromt receiving the Confederate cur rency, depreciated in value by the act of Congress, and i passed subsequently to the Ordinance, and that he ought to exercise this power ; others main tained that the act of Congress and of the Leg islature of Virginia would not materially affect the currency of the old issues, ' and mahy. urged that I could make an arrangement with the Sec retary ; of the .Treasury m to exchange the old for, the new issues. ' . ; .. , I did not concur in any of these yiews,fbut .with your ! approbation I addressed a letter to each of the Presidents of the Banks of this Stateinvit- ingthem to meet me here on the 14th of May last to consider the question whether, after the 1st August next, -they would receive aa leurroncy. Confederate - non-interest beating' notes, , dated prior to April 6th, 1863- I also wrote to the Secretary orthe Tiaasury, asking him whether he would make the exchange proposed-- whether, in ms opinion, tne currency oi tne qia. issues would be injuriously affected by the aforesaid leg islation, and what amount of the. issues, dated prior to December 1st, 1862, were funded prior to April 23d, 1863. 1 also wrote to the Treasurers of the other States of the Confederacy, excepting. Virginia, asking thm whether the same difficul ty existed in their States, and how they proposed to remedy it. ' '. . ;. -'I 'ry.l , j ; . ft - Most of the Bank Presidents met me on the day proposed. ' At that time Lhad not received the; answer of the Secretary of the Treasury, which afterwards came to hand and which I here to append. "; !; ' ? - l" ' ; After a full discussion of .the'subjeot the. Bank Presidents decided unanimously that, 1 at that time, it was inexpedient and premature fpr them to decide whether they would' receive the old' issues or not after the 1st August next.S -" - ... There was this difference, as to the condition of the Publio and County Treasurers and the banks. The banks could fund, any of ti e old issues they might have on hand On the 1st. of August while the State and County -Revenues would! not be paid in. by the Sheriff till after the 1st of lAugust; and besides they have no authority to fund. I have received-no answers from any of the State v Treasurers, ; excepting from the! Treasurer of Georgia,' whose answer accompanies this com raunication.v From this ' answer it appears that the taxes in Georgia are collected in September, and tnat xiov. jjrownr at that time, was disposed to taice no action in tne matters -. v ; The banks of Richmond, some - time after the act of the Legislature of that State, gave notice' thatjthey would not- receive on deposit, after the 10th of June, Confederate non-interest bearing notes, dated prior to DecembeT,' 1862, and of course, I suppose, they will hot receive them in 'payment ofoiebts due to them. The Banks of Ricfttnond have not gone so far as the Legislature of Virginia. .'Those banks "-reject only the flrsj class of issues, while, the - Legislature rejects for dues "io the' State, both the first and second class . ot issnes. The othei banks of the Confederacy, so far as Iknowr still receive aU the issues'; but -whether they will continue to do so, I have been unauieto ascertaftt t;f -t.' k.y : -- The Secretary of,"the Treasury does not answer my inquiry as to what amount of the issues, dated prior to December 1st 1862, had been funded prW? to April 23, 1863. ' - v - ; . I have been unable to obtain, from official sources, any knowledge as to th amount of the is sues of the first, or of the second class, but from the best information I haven been able to get, I think the issues of the first class, somewhat ex ceeds $250,000,000, of, which about $50,000,00 were funded on and before 22d Afril, 1863, leav ing, of this class, about $200,000-000 in circula tion ; and I suppose that about $200,000,000 of the second class has been issued : and of this, I presume, no great amount has been funded.. If the State and the banks continue to receive the old issues as a currency, it is not propable that a larger amount . than $50,000,000 will be funded between the 22d April and 1st pf August; and presuming that the Confederate money tax will retire $125,000,000, the largest estimate I have heard, the new iasues to the 1st August, will prob ably exceed the amount retired." - v ' The object of the act of Congress, of the Legis lature of Virginia and of the banks of Richmond, was to sustain, and improve the Confederate cur rency, anduch, I have no doubt, is the wish of every bank in the Confederacy, all of which, so far as I have hoard, have, : hitherto, unselfishly and patriotically sustained the' Government. The difficulty is as to the most effectual way to do it. I regard so much of the plan as leaves afloat, after the 1st of August, . several issues of currency of unequal value, as very badly adapted to effect the end! desired. ' ' ' l When the holders'of notes which have been paid to them by the1 State and Confederate officers and by the banks as money, find outclass of it ren dered nncurrent by an act of the authority which issued it; when, they find-the compact, under whichhey received it, to wit : The privilege to demand in exchange for it the bonds of the Gov4 ernmenV bearing a stipulated rate of interest,! changed by the Government without their assent, in myojpinion, it Will greatly damage, the whole currency, instead bf improving it. Distrust will arise, which will mere than overbalance any Ben efit which ; will Spring from a diminution of the currency, produced by legislation which forces the holder, to fund, under the penalty oft having his money rendered nncurrent. - " . In .view of all these difficulties I am greatly at a loes ta recommend , what is best to be .done. I do not doubt that an act such ai that of Vir ginia, and which, I think, conforms to the policy of OoDgrees, would cause a vast amount te be fund ed, but it seems to me to savor df bad faith, and in my opinion would-be oppressive to the tax payer and ao more nurt man good. ; ; While the Act of Congress remains in force and the Metropolitan State and .City continue their policy, I have no ideathat any action of the Le gislature and Btmksrof this State, can makes the' issues dated prior to December 1862, generally Current; and if received' into the county and State Treasuries, will he the source of infinite dif ficulties, if not entirely unavailable. If the Pub lic Treasurer be required to receive the old issues, I know no equitable rule by. which he can dis-- Durseinem. - ,j - " No better plan, has occurred to me than to sus pend the collection of the county and State taxes to some definite time after the meeting of the next Congress,' and the collection of the Confederate tax, and in the mean time to forbid all the revenue ouicers of the mate and counties to receive the old issues ; and, to address a remonstrance to Congress asking for a repeal or modification of the law or a provision to exchange the new issues for the old, or such other provision as may protect our State and county Treasuries from Joss. , Time will thus be obtained to see whether the absorption bv fund icg and the collection of the Confederate tax will not so reduoe'the currency as to; make, the legis lation on the subject, unimportant. If the General Assembly shall not approve this suggestion, which l make with great diffidence, and shall decide to receive one or both classes of the old issues in payment of the pubiicdaes. hope they will prescribe some rule by which the xreasurer suau oe governea 19 aiSDursmg (ne a li ferent , classes of Confederate money. Is each claimant to be entitled to demand any class ofJ Uon federate currency In tne Treasury, whiohr he may preter j or is no.ia pay on uie poorest, or tne If the General Assembly conclude to receive the issues of the second class, and .to reject the first or tcvpostpone the collection of the taxes; what is the Trersurer to do with the issues of the first clasa now on hand and which he must hereafter receive from Sheriffs and othersf' wha now hold such money for the State. s , ' v I further recemmend, whatever the General As sembly may do in the premises, that the Sheriffs be required on or before the latrday of August, to pay into the Treasury the amount they may have collected ; and that the Treasurer may be author ised to fund all the old issues in the Treasury on the 1st day of August, with power-to sell or use said bonds afterwards, as the exigencies of the Treasury may require. . ' ' -jg In January last, I made a contract with J. T. Patterson & C04 of Columbia, S. C, for supply ing blank bonds and Treasury notes authorised by law to be issued.- Owing to difficulties which they allege they could not overcome, the blanks, until lately, have been tardily supplied ; but they are now coming' forward rapidly. Most of them have been 'received! . :- ; l In the early part of the year I was compelled ip sell " State bonds and issue our Treasury notes, to meet the demands on the Treasury. I sold bonds to individuals to the aniount of $110,500, at an average premium exceeding 5 per cent, and to the Commissioner of the Sinking Fund, at par, to the amount of $971,500.- On; the 19th February last I received from the Confederate Government $1,289,1195 28, due the State fbr our advancesjn clothing-our troops for the 1st and 2d quarter of 1862, and at other times since I have -received from. the Confederate Government," for like ad vances for the 4th quarter of 1862, And the 1st ! quarter of 1863, $1,631,T7T JJ.V.From these and ukuer sources ox less magoumae a nave oeen aoie to meet . promptly all- demands. on the Treasury, and Ijiow have-in the Treasury $913,570 in Con federate currency, and if the Confederate Govern ment shall repay promptly the advances of the State for;the clothing of our troups, which I have no reason to doubt, I do not foresee any demands on -the Treasury likely to require, within a faw months, aurther sale of State bonds,or the issue of any of our Treasury ' notesr except fractional parts of a dollars for change," and. excepting- the amount aue vo counties within the lines of the en- fcmy under the act. making an appropriation of one million of dollars for tha reliet of the wives and families of soldiers in the army. " - . The Treasury was not in condition to pay the ' ' whole of this appropriation "at oncewithout an , unnecessary increase of t-e State debt, and 1 da tet mined to pay 1 in four equaj instalmanti one . on demand, and one on the 1st May,. August and November, believing it would tn this way accdm plish the object as well as if all paid at once. ? ? Since the Treasury, by collectlonls from the1 Confederate government and other sources, hat" -been supplied with Confederate money sufficient to meet all demands on it, I have refuse to pay out out Treasury,note8, excepting fractional parts a ' of a dollar, and to counties within the lines of the ' enemy, because the issue of pur notes would have been equivalent j to borrowing! money when the ' Treasury was amply supplied. - Many " of the County commisUoners have urgently pressed me to pay in our notes the quota due them fbr the support of the wiverand families of soldiers in ' the army, but av! the act Specially provides that the counties ' within the tines of the enemy shall be paid in onr notes, I have construed if that the others be, paid aa other claims I z. $ ; 1 . - The Commissioner for tha county of Jones has' presented to me an ojder, passed by the County Uourt or that county, which accompanies this communication, j This order Idirectt 'that the funds received from the StateTreaaarer, at Ral: eigh, by Tomjas Whitaker,' Commissioner and Treasurer fori the county of Janes, fjr the relief '' . of indigent soldiers families in the said . county, be.returned by said commissioner to the Treas- , urer of the State, and request that the funds due said county of Jones be; paid in the . Treasury . , . notes or current funds of the State as provided by the terms'of the said ! act of the General Aisem- 'V ply, .Thei'undsj now in the bands ,of the Com-, mi&sioner, received 'from the Treasury. of the dates prior to April,: 1863, being uncurrent and not to bB received in tne payment or taxes, as per . 1 circular from the Treasurer of the State. ' ' The first installment to the County of Jone, A was paid 30th of March, and the socon the 15th - 1 of May. These payments were made in Con fed- ( erate currency, of what issue, X do not know, be- ! ; cause I then understood as I do now,-that that T. county was not! within the lines of the enemy. I, declined to comply . with either of the request ' maae in tots oraer, out prumisoa io oring toe matter to the atention of the General Assembly. ' ' The circular referred to was' Issued at the sue- ' gestion of the Council bf Stale, and w& not In tended and by no fair interpretation, SS I believe, . can be construed as claiming any power to forbid the sheriff to receive the old issues. It was intend ed only .as a recommendation to the sheriffs to abstains from receiving the bid issue, ai far as they could legally do so, until the pleasure of the General Assembly should be known, t . v ' , I I have made this ceneral statement as to condi-: ; 1 tion and management of the Treasury to enable tne Ueneral Assembly i to see teat the ways and : means provided for the supply of the Treasury are ample, and to enable them to apply.the proper corrective, if they shall disapprove my 'course In any of the matters referred to.l ; 1 ,f 'If the General' Assembly shall approve my sug gestion as to postponing the collection of taxes, I think I shall be able to" meet toe demandson the Treasury for. several months without making any increase of the State debt,' by the sile of State bonds, or the issue of our Treasary Notes to any considerable amount. . ' i' Very respectfully, '"'I;.'.' JONATnxir WoBTH,-Pd. Treas. - - - ."-I. r--- 1 r WHJT THE BATTLE OF BAKER S CREEK. rC -T ' - ;; -;WAS FOUGHT. : ' i ; : , , , It has been frequently askedi writes' the Jack son correspondent of the Moblie "Register," why ' wa the battle of Baker's Creelc fought 7 After -the smoke ' of the conflict has cleared, and we have a full view of affairs, there '-are many Solo mons to be found, and gruatj Generals at a safe distance, - who' criticise movements with a sana froid that is delightfully refreshing. These men daily plan huge campaigns,. fight gigantic battles in imagination,, and, "somehow or somewhere else," always "gain glorious victories that eclipse the great captains of history, land .they roman tically see a grateful' country And an applauding wona Kneeang in homage archeir august feet. With these facts' befcee me, I . hope that I am not asking too much of Ihe publio Iwbea 'I humbly request them not to become offended with yoar correspondent for modestly obtruding his views. The. enemy firmly located; at Jackson, gave him the capital of the State, , the command and possession of all noiihern, western, and south west ern Mississippi, together with all the railroads in that' portion of the State, except Vicksburg; 1 therefore Gen. Johnston would have been forced to organize - his army in eastern . Mississippi, at ' least from 80 to 100 miles from! : Vicksburg. 1 By Pemberton's. marching out of Vicksburg and as sailing Grant's rear, he compelled him, in iself-de- fence, tfl" evacuated Jackson and hasten to the protection of his rear, and supplies ; and so pre cipitate was his- retreat that .a battery which had : been taken down to Pearl river to batter down the pillars of the railroad bridge was hastily spiked and the guns thrown into the river. These guns . have since been fished up i Thus the enemy .wts compelled to relinquish all the advantages obtain- ' edhby capturing -Jackson,' andhatten ;his' attack on Vlckshurgand-Vt invest ment of the city, while Johnston ' took possession of Jackson and the railroads, organized his army, and is now within 30 miles of, the ;H1U Citr. which is 4,4 miles westo'f Jackson. (i r ' I An editorial In the same paper, referring to the above, says:,- ;H ''-. .' I 1 ,' ' ; " We never regarded that action 'as a failure. Itis tnfs our losses in the fight were much to ba I regretted, and were probably fgreater. than Gen. jfemberton had calculated on j ;bot it was plain to us. at the first intelligence which! reached ha. that he did not fight for victory .--It was a magoani-- rmous effort on nu part to draw Grant's army away from Jackson, even though JSampson-like, he. pulled it dwwn upon himself. And this he did; and ' though almost crushed by the shock, he thereby recovered J aekson and saved V tela burg. , We read in the old ballad how a dead man won a fight ; but this is the first instance we're collect to have heard of where a General beaten on the field won; a victory thirty miles ofl. Yet, this Gen. Pembertoadid;- and the- trophies of his . victories are extant in the battery of guns captur- ' . ed by him at Jackson.- ' The Yankees were ;oblig ed to leave 'so precipitately thatjthey threw them into I'eart river, wnencetnoy nave oeeq recover ed. Cluneal -and Mathematical "-"I ohool. p '- j!--'" ' SC-,r AND NECK, HALIPAX fcO N. THE FALL SESSION OFTUlSInSTlTU. tion wul open on the, lOth'ofJalj, - ; ; ITkems PEa Sxssioa or rwEStv Wxtcs H1- . 'Tuition in ClasVcal Department, ".English ; . 'Board per month (Ughts extra.) i kS- M. JL VENABLB, C-v $35.00 ' : t 25.00 ' en ' . JOSEPH VENABLE, A, Jf Principal, JeSi w4w. : ' ' .' BLOCKADE tiOODS. Kf PS MEKINOS .AND qASIIUICnCM 0f 40 pieces BlMk Alosa. i.j . i i. , . . 100 docen Heavy Jeans Drawtors, jait , eeired - T '100 pieoes Fine Whit Linen1 drovers all sUes. t 212 prs Linen SheeU all reaoy for e, ieavy. ii 60 lbs BlAck Sewing Sill. - H , f , ; j ' 100 lbs White Brewa Flat, No 1 1 article, Coats, Paats, Yests,X)ver CoaU, Military ani CinnJ .' Dres.' ,1' T. W.ROYSTON,. . AarU 1 . - Petersburg, Va-, f -