War of the Rebellion: Serial 127 Page 0392 CORRESPONDENCE, ETC.

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movements and the exertion of such extraordinary power. At the time when the ordinance of secession was passed there was in the treasury to the credit of the Commonwealth the sum of $384,605. 25, and from that period to this the entire amount received from the revenue of the State is about $321,617,75, making $706,223 to meet the ordinary expenses of government and the extraordinary sums to carry on the war. The actual sum expended for the war alone has been nearly &2,000,000, and the sum necessary to meet the liabilities incurred and not yet presented for payment will be nearly $2,000,000 additional.

To meet these expenditures the General Assembly had authorized the issuing of treasury notes to the amount of $1,000,000. For this purpose the auditor of public accounts had made arrangements to have the treasury notes engraved at the North, and when the plates were ready for delivery they were seized by the Government of the United States, and of course could not then be issued. This occasioned delay in the execution of the notes, and rendered it necessary to contract for engraving new plates here in the city of Richmond, which could not be executed until within a few days past. Subsequently the convention authorized the issue of $2,000,000 more of treasury notes, and both the law of the Legislature and the ordinance of the convention authorized the banks to receive these notes and to discount upon them. Under this authority there has been raised from the banks, by giving temporary notes, payable in July, the amount of $1,854,500, which, with the amount in the treasury, has realized the sum of $2,560,723, and the government has been able to meet every engagement of the Commonwealth so far with the currency of the State promptly, no creditor having to wait longer than necessary to credit and settle his accounts. A summary of the operations of the executive department since the 18th of April, 1861, shows the following results:

1. The na-yard and Harper's Ferry Arsenal, captured without the loss of a single life, and securing to the State property estimated in its intrinsic value at from $25,000,000 to $30,000,000.

2. Upward of 40,000 volunteers have been drawn from their peaceful pursuits, and some of them from the most distant parts of the State; have been instructed in the elementary exercises of the soldier; have been armed, equipped, and supplied with every necessary for active service in the field, and are now ready to defend the honor and maintain the liberties of the State.

3. A navy department, hitherto unknown to our State organization, has been thoroughly and effectively organized. Navy batteries, numbering upward of 320 pieces of heavy ordnance, varying in weight from 5,000 to 10,000 pounds, have been established, the gun carriages for the most part made, and the ammunition prepared, while upward of 120 pieces of heavy ordnance have been forwarded to other States of the Southern Confederacy.

4. The various staff corps, embracing commissary, quartermaster, medical, and engineer departments, have been organized under ordinances passed since the 20th of April, 1861, and their efficiency has not only contributed to the promptness and completeness of the preparation which has enabled us to put so large a force from our own State into the field, but to facilitate the movements and efficiency of most of those who have come to our aid from the other States of the Confederacy.

5. And, finally, these results have been reached in due regard to an economic expenditure of the public money. The stores and other