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The Daily Dispatch: July 27, 1861., [Electronic resource], Elizabeth Barrett Browning. (search)
make haste to make good with the public. The Treasury notes of the Confederate Government happily afford an admirable medium of exchange by which this obligation can be discharged. If the Bank in Richmond refuses to receive the note of the Bank in Augusta from unwillingness to trust that Bank, surely the objection is removed when informed that any balance of debt due will be discharged by its amount in Treasury notes, based on cotton in the hands of the Government. This security, and the additional one that the notes of no Bank are issued in excess of its actual capital stock, affords a guarantee of reimbursement, which no Bank will pretend to be insufficient. Mr. Memminger deserves great credit for suggesting the Treasury notes as a medium of universal exchange throughout the South; for as such, not only will the transactions of the Government be greatly facilitated, but the community itself will be relieved, upon the basis of Mr. Caskie's proposition, of a heavy grievance.
The Daily Dispatch: July 27, 1861., [Electronic resource], article 27 (search)
The Southern Bank Convention.Second day. Richmond, July 25, 1861. The President having called the Convention to order, additional Delegates presented themselves from South Carolina, Alabama, North Carolina, Tennessee and Georgia. The Hon. C. G. Memminger, having been invited to take a seat in the Convention and participate in its deliberations, appeared and thanked it for the liberal manner in which the Banks had responded to the call of the Government. The following resolutions were referred to the Committee on Debate: By Mr. G. W. Mordecai-- Resolved, That the several Banks represented in this Convention will receive in payment or on deposit, and pay out during the continuance of the present troubles, the notes of all the Banks in the Confederate States of America, as may be designated by the following Banks in the several States: Virginia, North Carolina, South Carolina, Georgia, Alabama, Louisiana and Tennessee. Resolved, That the standing committee