Richmond, Va., Sept. 7, 1863.
and House of Delegates. In this crisis I have deemed it advisable to convene you in extraordinary session, in order that the freshly chosen representatives of the people may consult and devise such measures as will be calculated to meet the existing emergency in public affairs. The war has now been in progress for more than two years and a half, and has been presented against us with a ferocity unparallel in all past struggles between contending parties. It has been conducted upon the avowed principle of subjugating in either by force of arms or by visiting upon our people the horrors of famine, Hence it is that foiled and defeated again and again upon the field of battle, they have adopted the policy of desolating our farms, destroying our crops, burning our dwellings, stealing and carrying away our property, leaving our wives and children to perish by the slow torture of starvation. It is no longer a war for the preservation of the old Union, as it was originally proclaimed to be, but it has degenerated into a war-for the emancipation of our slaves; and this purpose the Administration at Washington propose to accomplish even if the extermination of the white race, of all ages, sexes, and conditions; of the Southern Confederacy, shall be the result. We have no alter native, therefore, but to defend ourselves with all the power, energy, and ability, we can command. We must succeed, if we would be a free and independent people, worthy of the illustrious ancestry from which we descended. To succeed, we must have union, harmony, concert, conciliation, courage, energy, and determined resolution on the part of rulers and people. We must cultivate one to wards another the noble virtues of prudence, toleration, charity, and forbearance. With these general remarks I proceed to the consideration of such subjects as are of special interest at this time, and in my judgment demand legislative action. The subject first in importance, so far as the Commonwealth is concerned, is the best means of providing and adequate force for the local defence of the State against invasion or raids, and for the execution of the laws in case a resort to force shall at any time become necessary The entire military force of the State has been absorbed by the conscription law, and we are thus left, in a time of greatest peril, with no militia organization for the defence of the Commonwealth. This want can be and must be supplied with as little delay as practicable. As to the plan of raising this force I an aware there is much diversity of opinion. The difference, however, is reconcilable if the subject is considered and discussed in a patriotic spirit. Let a force, to consist of all able-bodied persons between the ages of sixteen and sixty, not in the Confederate service, be organized, corresponding with the force now organized in the cities of Richmond, Petersburg and Lynchburg. Let them be regularly enrolled, formed into companies, battalions, and regiments, and officered in such manner as will be most likely to secure efficient, intelligent, and energetic men. They should be drilled at proper intervals, so as to be well instructed in the evolutions and the manual, and prepared for efficient service whenever the necessity shall arise. The act should also define what is local defence, as there is much contrariety of opinion in regard to it. Some think local defence consists in remaining at home, and under no circumstances to be taken out of the city or county in which the company is organized. This, in my view, is a most mistaken nation of the meaning of the term "local defence," and if it is to prevail will work great mischief and render the organization of little value in giving protection to our people. My opinion is that if the city of Richmond can be defended more certainly fifty miles from it than immediately around it or in it, that locality is the proper place for its defence, and the local militia should be required to make the defence there. The officer charged with the defence of any particular locality is presumed to be better acquainted with the mode of defending it, and the best point of defending it successfully, and he should direct all troops so as best to secure the end desired. The object of such organizations should be to give adequate protection to all parts of the Commonwealth. We must not only provide for the defence of the counties, cities and towns, by the local forces in and immediately around them, but we must, under the law which is proposed to be passed, have authority to order others from contiguous counties to their all and support. A force, whose operations is to be confined by county, city or town boundaries, can prove of but little value in checking raids, or in executing and enforcing obedience to the laws. This organization should be made to embrace the foreign population who are located amongst us. This foreign population may be said to consist of three classes: First, those who have been regularly naturalized, and who are therefore citizens embraced by our laws relating to the public defence. Second, those who are domiciliated amongst us, and have been living in our midst and prosecuting various branches of business, and left their native land with no purpose or intention of returning to it; and lastly, those who are temporarily sojourning amongst us. The first class are in service under our militia laws, and the second class should be required to go into service for public defence of the soil on which they reside. The latter class, who are sojourners, engaged in no regular business, should be exempt. I recommend, therefore, that in your legislation upon this subject, the second class above referred to shall be clearly and distinctly embraced. On this subject I desire to present another recommendation, in regard to the act passed by your predecessors on the 20th day of November, 1862, authorizing persons of certain religious denominations in the State to exempt themselves from military service in the war, by the payment of five hundred dollars each, Subsequently Congress passed an act of like character; and these persons availed themselves of it, and were discharged from liability to all military service in the Confederate army. I regard this provision as substantially a violation of the Constitution, inasmuch as it grants exemptions to certain classes of persons, which are not granted to others. In this war all classes who reside amongst us should be required to perform duty of some sort, if they are with in the military age. If they are unwilling to bear arms, there are various other duties connected with the army and the general defence which they can perform, and which they should be required to perform. They are citizens, property holders to a large extent, interested therefore in all that concerns other citizens, and should be required to perform their part. In some countries this class or persons are required to aid in the construction of fortifications, and I see no just reason why they should not be required to do so here. This branch of defence must be maintained by somebody; and if their religious convictions will not allow them to go into the ranks for the defence and maintenance of the common cause, why cannot they do this? It will not do to say that they are opposed to war, and can do nothing that will tend to its prosecution. The law is based upon the principle that they are bound to do something — otherwise they would not be taxed the sum of $500 each. That money goes into the Treasury, and is drawn therefrom to defray the expenses of the war, and to this extent, at least, they are aiding and supporting it. If they can aid to the extent of five hundred dollar in money, can they not aid by labor or other service? A state of war imposes a personal obligation upon every citizen within the military age, and he should be required to discharge it. When the country is invaded, our dwellings burned, our lands laid waste, our property destroyed or carried away, our citizens imprisoned, it is their duty to step forward promptly and aid in repelling the invader. Ministers and members of other religious denominations, equally as conscientious, are in the field. I recommend; therefore, that this law be repealed. Besides these provisions, stringent regulations should be adopted to prevent desertion or struggling from service with out leave. It ought to be made the duty of the local militia to arrest any officer or soldier found abroad from his corps without a furlough, and cause him to be forthwith returned to his position or delivered to the nearest Provost Marshal. The officers in command in any city or county through which such persons might be passing or sojourning might be invested with like authority, and be clothed with power to detail a sufficient number of men to make the arrest effective, and to compel the parties in default to render the service to which they are liable. It might also with propriety be made the duty of company officers, at regular intervals, to report all persons who have not been exempted and who are liable to conscription, that our armies may be kept full and efficient, and at all times be prepared to meet and repel the enemy. Any act you may pass should provide for the speedy and certain punishment of all who fail or refuse to obey lawful orders, and prescribe some mode for the removal of incompetent or unfaithful officers. The experience of the last two years renders legislation upon this subject necessary. The time has come when it is absolutely indispensable that we should omit nothing which promises protection to our people and success to our cause. An unscrupulous enemy is pursuing us with a spirit of malignity and vindictiveness that respects neither the rights of persons nor of property. We must be active and untiring in our efforts to repel him; and to accomplish this we must call forth all our able-bodied men, and prepare them for the most efficient service. No army can expect a continued current of success. We may — nay, we must expect to meet with reverses, and we must be prepared for them. Instead of discouraging, they should only stimulate us to increased efforts — should call forth redoubled energy — should bind us more closely together, and inspire us with a more determined spirit and courage. If our forefathers had permitted reverses to crush their spirit or paralyze their energies and efforts, the American Revolution never would have proved a success, and the independence of our country would never have been achieved. They passed through storms and trials far greater than any that have fallen to us in this contest. The men, old and young, sustained and supported the cause with hearty good will; and as the clouds gathered and the prospect of success seemed to grow more desperate and hopeless, they became more and more resolved and determined. The noble women of that day, while their fathers, husbands, and sons were engaged in fighting the battles and driving back the invader, planted and gathered the crops by which the army was sustained. We have not been reduced to such straits yet, nor is it probable we shall be. But the women of the present day have shown a self-sacrificing spirit, inducing them incessantly to work, and showing that they are ready to emulate such an example. They have displayed a generous devotion, which should awake the sluggards and animate and cheer the gloomy and desponding. There are in all communities some people whose eyes always fall on the dark side of every picture, and who are disposed to succumb at even the indications of disaster. It would be remarkable if we had not some such amongst us; but it is gratifying to know that the number is very small, even in those portions of our State which have been overrun by the enemy. The spirit and courage of the large mass of the people has never flagged. Each new wrong has inspired new resolution. Bach new out rage has but nerved them for a more determined and desperate struggle in behalf of the cause. Virginia went into this contest after the most serious and calm consideration, with a firm resolve to do her whole duty to herself and her confederate sisters — to take all the consequences, however horrible they might be. Her people have never quailed — nor have they murmured under the repeated wrongs and aggressions they have suffered. She was not the first to enter this struggle, nor will she be the first to sue for peace, unless that peace shall be accompanied by an unqualified recognition of the independence of the Southern Confederacy. The report of the Adjutant General, accompanied by a bill, is herewith submitted, and to it your attention is respectfully invited. General Richardson's intelligence and experience in all military matters entitle his views to great respect, and I confidently commend them to your favorable consideration. The General Assembly, at its last session, prescribed that no Confederate issues of a date anterior to April 6th, 1863 should be received in payment of State taxes. I am unable to comprehend either the wisdom or policy of this legislation. It is calculated to impair confidence in the currency of the Confederate Government, and, indeed, in almost the only currency in circulation in the greater portion of the State. If these issues are not to be receivable in payment of State taxes it is inferable, at least by those who are not fully informed in regard to such questions, that it is because those issues are not as valuable as subsequent issues by the Government, or for some cause or other they have not been considered a safe or reliable circulating medium. No matter what caused the exclusion, it is perfectly plain that the effect has been to depredate the currency and to arouse in the public mind the suspicion that it will not ultimately be redeemed. Very few persons in ordinary business transactions stop to examine the particular date of a note which they are about to receive. Very few can remember the particular date of the note discredited by the law. The consequence is, as soon as they ascertain that notes of some dates are not receivable in payment of taxes, and they do not know which, they become shy of receiving any, and all are discredited. When they are told that some of the banks will not receive them on deposit, and that some of the railroad and other transportation companies will not receive them for fare or freight, they of course refuse to receive them, and a general depreciation ensues, which it will be found next to impossible thereafter to prevent. In very many cases this money has been paid to our soldiers, and by them sent home to pay their taxes. Some such cases have been brought to my knowledge; and the persons who were in this situation, on finding that it was not receivable in payment of State taxes, have very naturally complained. If the money was good enough to pay the soldier, who receives but eleven dollars per month, why is it not good enough to satisfy the claim of the State when her agent applies for State dues? We have no State bank circulation, we have no State Treasury note circulation; both of these descriptions of notes having been hoarded as fast as they could be collected by moneyed men. The consequence, therefore, is, that the holders of the repudiated Confederate issues are driven to the necessity of shaving off those they have, in order to procure such as will enable them to meet the demands of the State. While it was not the intention of the Legislature to place the tax-payers in this condition such is inevitably its effect. --They must have such money as will answer the purpose, and to obtain it they must apply to such persons as have it, and must pay them such price in these rejected Confederate issues as will command it. The only reason I have ever heard assigned in justification of this legislation is, that it was designed to force persons holding this currency to fund in Confederate bonds, and thus retire it from circulation. This would all be very well if every man who had these issues in hand had no use for them either for the support of his family or the payment of debts. It unfortunately happens, however, for this theory, that four fifths of the community have no money to invest. All they receive they have present and pressing use for, to relieve their daily wants and the wants of those dependent upon them. Funding, with all such, is therefore an impossibility, and the circulation thus rejected cannot be retired in this way. Congress, feeling the difficulty, and desirous to compel the funding, passed an act which provides that all notes of issues previous to December 1st, 1862, should be fundable in eight per cent bonds, if presented by the 22d day of April, 1863, if not presented by that day, but presented before the 1st of August, 1863, they were then fundable in seven per cent bonds; and these issues are not fundable at all after the 1st of August. Notes issued after December 1st, 1862, are fundable in seven per cent bonds until August 1st, 1863, and after that date in four per cent bonds. Notes issued after April 1st, 1863, are fundable in six per cent. bonds if presented in twelve months from their is she; but if not so presented, they are fundable in four per cent. bonds. This looks to me very much like a repudiation to some extent of the obligations assumed by the Government; and it is not, therefore, surprising that such legislation should have created uneasiness in the public mind, and aided in bringing about depreciation, and a want of confidence in the ultimate payment of these obligations. Other legislation on the part of Congress has tended strongly to produce the same conclusion in the public mind. The mode in which taxes are to be assessed upon credits in certain contingencies, may be mentioned as one that tends directly to the discredit of the currency Better far would it have been to make these issues a legal tender in payment of debts than to resort to a compulsory process like this to force its reception by the creditor; and while this is being done our Legislature is urged to reject the same paper issues in payment of State taxes! When the Government casts suspicion upon its currency, and the State Governments, and the Banks, and Railroad Companies do the same thing, then the people may well become alarmed. The consequences cannot fail to be most disastrous. We cannot change the action of Congress, but we can remedy the errors of our own legislation, and thus show that we are disposed to uphold the credit and currency of the Confederacy. The appropriation for the support of the convicts in the Penitentiary is exhausted, and it is necessary that further provision be made at the earliest moment for their maintenance during the year. This is owing to the fact that the prices of all articles necessary for the convicts have greatly increased, and are still advancing. The condition of the country must be kept steadily in view when legislating on subjects of this kind, and we must, regulating appropriations, bear in mind that all articles of prime necessity have increased, and will continue to increase, unless some speedy measures are adopted to reduce the redundancy of the currency. Besides, the convicts are increasing, and the experience of the last six months warrants the conclusion that the number will be uncommonly large before the close of the year. The legitimate offspring of a state of war are lawlessness and crime, and during its continuance, therefore, we may reasonably calculate upon an unusual increase of convicts. There are now nearly three hundred and fifty confined in a prison intended originally to accommodate two hundred and fifty. In previous messages I have earnestly invited the attention of the Legislature to the affairs of the Penitentiary, and the management of the institution and the convicts. I have always believed, and still think, that with prudent, judicious, and energetic management, the labor of the convicts would support the institution, and pay a handsome revenue into the Treasury annually. I take pleasure in saying that under the present Superintendent the discipline and management is greatly improved. I have heretofore submitted various recommendations in my communications to the two Houses; and without repeating those recommendation I will content myself with calling attention to them. They are accessible to all having been published in the documents of the past three years. In this connection, I also invite your attention to the very able report on this subject prepared by Commissioners Haymond, Johnston, and Campbell. This report contains recommendations and suggestions of much value and importance, and I commend them to your favorable consideration. This is a matter of practical importance, and requires early attention. The interests of the State demand that the reforming hand of the Legislature should be applied to it.--With a regular supply of raw material, so as to keep the convicts constantly employed, and with an intelligent and judicious application of their labor, we may reasonably that the institution will be self sustaining, it no more. I submit the report of Capt. Edward. H. Fitzhugh, now in charge of the Quartermaster General's office, to which I invite your attention. It presents a clear and succinct statement of the condition of affairs in that office from the organization of the State line forces to the present time, and will doubtless be read with great interest, especially when it is recollected that just before the State Line troops were disbarred it was quite currently charged that the entire appropriation had been expended. This report shows that the sum of one million two twenty-five thousand dollars had been drawn from the treasury for that department, and that since the force was disbanded six hundred and sixteen five hundred and seventeen dollars.. ninety-two cents had been refunded, leaving the actual cost of the State line forces so far as that department is concerned, six hundred and eight thousand four hundred and eighty two dollars and eight cents. Other property now being collected, and which will be turned over to the Confederate Government, will further reduce the cost. No report has been received from the Paymaster General's department. In this connection it is appropriate and becoming that should refers to the distinguished commander of the State Line, whose race is run, whose labors are ended, and who now quietly sleeps with the dead. General Floyd was no ordinary man. He was blessed with rare intellectual endowments. He possessed uncommon energy and great physical endurance. His information was varied, extensive, and valuable. As an orator, he had few superiors — as a statesman, he was equal to any of the men of his day — and as a patriot, devoted to his country and his country's cause, his services in this war best attest his merits. He was equal to every position to which he was called — as Delegate in the General Assembly, as Governor of this State, as Secretary of War under the old Government, as Brigadier General commanding the Confederate troops, or as Major. General commanding the State Line. When the news of his death reached this city I caused the State flag to be displayed at half must, and the offices to be closed for the day, in taken of respect for his memory. On the 29th day of August last a requisition was made upon me by the Secretary of War for 5,340 slaves, to work upon the fortifications around Richmond. Copies of the papers are herewith submitted to your consideration, and I particularly invite your attention to the draft made upon the several counties. The apportionment upon the counties seems to be entirely arbitrary, and bears very unequally. In some cases five per cent. of the slaves is called for, and in other cases less than one per cent. Thus, Amelia, with upwards of 7,000 slaves assessed with taxes in 1862, is required to furnish 50, while Alleghany, with less than 700, is required to furnish 30. The county of Albemarle, with 12,681, is called upon for 200, while Brunswick, with 9,212, is called upon for 250. The county of Augusta, with 4,460 is called upon for 80, while the county of Rockingham, with 2,164 is called upon for 100. Hanover, with 8,621, is called upon for 80, while Prince Edward, with 6,998, is called upon for 150. These examples will suffice to show how unequally this burden is distributed; and I trust that some amendment will be made to the law, which will afford protection against such inequality. The law requires that "the value of such slaves as may escape from the Confederate authorities and not return to their owners, or be seized, or killed by the public enemy, or may, by want of due diligence on the part of the authorities of the Confederate States, in any manner be lost to the owners of such slaves; and in like manner compensation shall be made for any injury to slaves arising from the want of due diligence on the part of the authorities of the Confederate States."Many cases of peculiar hardship, arising from the loss of slaves, have been brought to my attention, and much complaint has been made by the owners, in consequence of the fact that they have not received the value as provided for in this act. In several cases the only slave capable of field labor that the owner possessed has been lost, and compensation not having been made, he has been unable to supply his place. If the value had been promptly paid, the hardship in such cases would have been greatly relieved. I invoke your early attention to this subject, of so much importance to our common constituents. In my last message I recommended an in crease of the salaries at the officers and employees of the Government, and assigned the reasons which prompted the recommendation. Subsequent experience has greatly strengthened those reasons; and I now, therefore, without repeating them, renew the recommendation, in the earnest hope that it will meet your approval. I have received a communication from the President of the Central railroad, enclosing a report made to him by the Superintendent, on a subject of great importance to the road, and not less to the State and the Confederacy. The demands for the transportation of passengers and freight over this and the other railroads of the State have been very great, and the roads have been severely taxed to meet them. So far they have fully met the demands, but it is apparent to any person that will pass over them that extensive repairs are now much needed, and must be made, or they will be broken down and rendered useless. Besides great difficulty is experienced in procuring cross ties and the necessary supply of wood for fuel. Labor is indispensably necessary to relieve them, and so far as legislation can aid them I am satisfied it will be cheerfully extended. The Central, Orange and Alexandria, are the Virginia and Tennessee roads have more to apprehend from raids than any of the other roads in the State, and this apprehension makes it difficult to procure labor on reasonable, or indeed on any terms. The owners of slaves are unwilling to hire them on these lines, lost they may be seized and carried off, or may be induced to abscond.--Under these circumstances they very properly desire that the subject shall be brought to your attention. The papers are herewith submitted, and I trust your wisdom will enable you to devise some measure of relief. I communicate herewith the reports of the Board of Visitors, the Superintendent, and the Surgeon of the Virginia Military Institute, and I commend them to your consideration. They are deeply interesting, and, not withstanding the embarrassments of the times, they show that the institution is in a very flourishing condition. When the institution was re-opened it was seriously apprehended that it would be difficult, if not impossible, to procure the requisite supplies for clothing and feeding the cadets; but I take pleasure in saying that the judgment and energy of the Superintendent have over come all difficulties, and the operations of the school have been regularly kept up. The Institute has strongly commended itself to the fostering care of the General Assembly and the people of Virginia, and I cannot too earnestly press its claims upon your support and favor. I trust it will be your pleasure to adopt the recommendations made in the reports, and thus place it upon a firm and enduring basis, and enable it gradually to extend the sphere of its usefulness. Since the commencement of this war Virginia has been called upon to month over the loss of many of her gallant sons; but of all her jewels, the most brilliant was the if insidious Lieutenant General Thomas J. Jackson--a graduate of West Point — highly distinguished in the Mexican war, and at the opening of the present war a quiet and unpretending professor in our State Military institute. He was called from the professor's chair to the field, and his sagacity, his energy, and the unparalleled success which crowned his efforts, won for him a reputation that made him the pride of his own State, endeared him to the people of the Confederacy, attracted to him the attention of the nations of the earth, and compelled the respect and admiration even of those heartless enemies who have drenched our land in blood, and brought wailing and lamentation to the firesides of thousands of their own misguided people. For decision of character, for stern and unbending resolution, for pure and elevated patriotism, for sound and inflexible integrity, and for prompt and energetic action, he was supposed by no man of his times. The record of his achievements will constitute some of the brightest pages in the history of the war when that history shall have been written. His regulation as a military leader of the highest ability and merit has been fairly and firmly established in the judgment of the army and the country, and his name will be honored and his fame will be cherished "While the earth bears a plant or the .. a wave." Gen. Jackson was not only a great man, but he was emphatically a good man. He was pure and upright, earnest and honest, conscientious and true in his intercourse with the world. In all the relations of life, as a son, a husband, a father and a citizen, he was faithful and reliable. As a member of the Presbyterian Church, his "walk and conversation" attested the sincerity of his profession. The death of such a man, and at such a time, could not fall to produce the most profound sensation throughout the Confederacy. He had won the confidence of the people of all classes. Their affections were out wined around him — their hopes centered in him — and they looked to him as one of the great instruments provided by an all wise Providence for their deliverance, and for the establishment of their independence upon a new basis. His death was regarded as a national calamity, and it was succeeded by manifestations of the most heartfelt grief and the most sincere sorrow. He has passed from life, but his example is still left to encourage and stimulate us to greater exertions in the noble cause in which we are engaged. That example cannot fail to exert a most powerful influence in awaking our dormant energies — in rousing us up to great efforts — in inspiring us with greater zeal, and in animating us with a nobler spirit and a more determined courage. His whole soul was in the cause, and he performed his duty cheerfully and with the most scrupulous fidelity. The redemption of the people from the yoke of Yankee tyranny was the object nearest his heart, and to its accomplishment he directed his efforts. The cheeks of the deserters and stragglers and laggards should burn with shame when contemplating his devotion and self sacrificing spirit. They should appreciate such an example, and should resolve at once to emulate it, and should return to the path of duty with a fixed purpose to relieve their land from the tread of the invader, or, as he did, sacrifice their lives in the effort. If such shall be the result, he will not have died in vain. The sacrifice, great as it was, will impress upon the country an invaluable lesson for the instruction of the present and future generations. The extortioner is still pursuing his heart less traffic and amassing his gains. The war to him is a God send, and he would not have it terminated for any earthly consideration. He shares none of its hardships — he suffers none of its dangers. He has perhaps hired a substitute, who, for a pecuniary consideration, agreed to be shot at in his place. Such men are found everywhere throughout the Confederacy, and it is time something were done to put an end to their money making business. I have been investigating this subject in the hope that I would be able to make some practical recommendation that would check if it did not eradicate this evil. In the first volume of the Revised Code of 1819, page 551, I find an act which was passed in 1777, entitled "an act to prevent forestalling, regrafting, engrossing, and public vendues," which, with very slight amendments, would, if re-enacted, check in a great measure this growing evil. I invite your attention to it, and recommend that some similar act be passed at this session. The finances of the State are in a highly prosperous condition — much more prosperous indeed than could have been anticipated under the circumstances which surround us. The enormous demands made upon the treasury have been promptly met and satisfied. Our revenue is increasing, and the people, with that noble spirit which has ever characterized Virginias, cheerfully pay their taxes, and thus maintain the credit and uphold the character of the Commonwealth. I suggest whether it would not be wise to dispose of the interest which the State holds in our various internal improvement companies, under such restrictions as may be deemed proper, and apply the proceeds arising therefrom to the payment of the State debt. We could at this time dispose of these stocks to great advantage; and such an application of the proceeds would reduce the debt to a comparatively small sum. It is the part of wisdom to extinguish our debt as rapidly as possible, and any measure which will produce this result will greatly increase public confidence.
|The total permanent debt of the State is reported to be||$34,399.850.30|
|This sent includes ruter est on the public debt uncalled for the greater portion of which is due to the United States and her citizens||$2,730.894.01|
|it includes, also, the sum borrowed by us to aid in the prevention of the war, and which, by agreement, is to be refounded by the Confederate Government, amounting to||8,600,000 00|
|These sums, making||$11,230.894 61|
|State debt the sum of||23,168,788 09|
|Deduct debt purporting to be due to the Literacy fund, which belongs to the State and is a debt by move nation of law||2,662,694 38|
|To pay which, we have available bank stocks belonging to the Library fund, railroad and other stocks belonging to the internal improvement land, worth in the market, and from which can be realized at any time the State may direct, the sum of||16,613,065 24|
|in addition, the Commonwealth owns $2,340 600 worth of bank stock, which will readily command in the market the sum of||3,019,125 00|
|leaving only to by ..||$943,917 00|