Depreciation of Confederate currency.
In the chapters on Finance and Dollars and Cents, reference has been made to the rapid depreciation of C. S. Treasury notes.
The condensed table appended-gathered from most reliable data — will explain this more clearly than could a volume:
Relative value of gold from January 1, 1861, to may 12, 1865.
1861 .-January 1st to May 1st, 5 per cent.; to October 1st, 10 per cent.; October 15th, 12 per cent.; November 15th, 15 per cent.; December 1st, 20 per cent.
1862.-January 1st, 20 per cent.; February 1st, 25 per cent.; February 15th, 40 per cent.; March 1st, 50 percent.; March 15th, 65 per cent.; April 1st, 75 per cent.; April 15th, 80 per cent.; May 1st. 90 per cent.; May 15th, 95 per cent.; June 15th, 2 for 1; August 1st, 2.20 for 1; September 1st, 2.50 for 1.
1863.-February 1st, 3 for 1; February 15th, 3.10 for 1; March 1st, 3.25 for 1; March 15th, 5 for 1; May 15th, 6 for 1; June 1st, 6.50 for 1; June 15th, 7.50 for 1; July 1st, 8 for 1; July 15th, 10 for 1; August 15th, 15 for 1; November 15th, 15.50 for 1; December 15th, 21 for 1.
1864.-March 1st, 26 for 1; April 1st, 19 for 1; May 1st, 20 for 1; August 15th, 21 for 1; September 15th, 23 for 1; October 15th, 25 for 1; November 15th, 28 for 1; December 1st, 32 for 1; December 31st, 51 for 1.
1865.-January 1st, 60 for 1; February 1st, 50 for 1; April 1st, 70 for 1; April 15th, 80 for 1; April 20th, 100 for 1; April 26th, 200 for 1: April 28th, 500 for ; April 29th, 800 for 1; April 30th, 1,000 for 1, May 1st (last actual sale of Confederate notes), 1,200 for 1.
General Lee's fare well order to the army of northern Virginia. General order, no. 9.
Headquarters Army of Northern Virginia, April 10, 1865.
After four years of arduous service, marked by unsurpassed courage and fortitude, the Army of Northern Virginia has been compelled to yield to overwhelming numbers and resources.
I need not tell the brave survivors of so many hard-fought battles, who have remained steadfast to the last, that I have consented to this result from no distrust ofthem; but, feeling that valor and devotion could accomplish nothing that would compensate for the loss that must have attended the continuance of the contest, I determined to avoid the useless sacrifice of those whose past services have endeared them to their countrymen.
By the terms of agreement, officers and men can return to their homes and there
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remain until exchanged.
You will take with you the satisfaction that proceeds from theconsciousness of duty well performed; and I earnestly pray that a merciful God will extend to you His blessing and protection.
With unceasing admiration of your constancy and devotion to your country and a grateful remembrance of your kind and generous consideration for myself, I bid you an affectionate farewell.
R. E. Lee, General.
General Johnston's farewell order to the army of Tennessee. General order, no. 18.
headquarters army of Tennessee, Near Greensboro, N. C., April 27, 1865.
y the terms of a military convention made on the 26th instant, by
Major-General W. T. Sherman, United States Army, and
General J. E. Johnston,
Confederate States Army, the officers and men of this army are to bind themselves not to take up arms against the
United States until properly relieved from that obligation,and shall receive guarantees from the
United States officers against molestation by the
United States authorities so long as they observe that obligation and the laws in force where they reside.
For these objects, duplicate muster-rolls will be made out immediately, and after the distribution of the necessary papers, the troops will be marched under their officers to their respective States, and there be disbanded, retaining all private property.
The object of this convention is pacification, to the extent of the authority of the commanders who made it. Events in
Virginia which broke every hope of success by war, imposed on its general the duty of sparing the blood of this gallant army and savinbg b country from further devastation and our people from ruin.
J. E. Johnston, General.
Headquarters Military Division of the Mississippi, In the Field,
Raleigh, N. C., April 27, 1865.
The General Commanding announces a further suspension of hostilities and a final agreement with
General Johnston, which terminates the war as to the armies under his command and the country east of the
Chattahoochee.
Copies of the terms of convention will be furnished
Major-Generals Schofield,
Gillmore and
Wilson,who are specially charged with the execution of its details in the Department of North Carolina, Department of the South, and at
Macon and
Western Georgia.
...
General Schofield will procure at once the necessary blanks, and supply the
Army Commanders, that uniformity may prevail; and great care must be taken that the terms and stipulations on our part be fulfilled with the most scrupulous fidelity, whilst those imposed on our hitherto enemies be received in a spirit becoming a brave and generous army.
Army Commanders may at once loan to the inhabitants such of the captured mules, horses, wagons and vehicles as can be spared from immediate use; and the
Commanding Generals of Armies may issue provisions, animals and any public supplies that can be spared, to relieve present wants and to encourage the inhabitants to renew their peaceful pursuits, and to restore the relations of friendship among our fellow-citizens and countrymen.
Foraging will forthwith cease, and, when necessity or long marches compel the taking of forage, provisions or any kind of private property, compensation will be made on thespot; or, when the disbursing officers are not provided with funds, vouchers will be given in proper form, payable at the nearest Military Depot.
