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The Daily Dispatch: August 29, 1863., [Electronic resource], Confederate finances. (search)
Confederate finances. --We publish this morning the letter of Mr. Memminger to Mr. Hunter on the state of the finances. It presents an encouraging view of them. It is gratifying to see that so large an amount of notes has been converted into bonds; but it is still more gratifying to learn from him that, with the present systems of taxation in money and in kind, and some hoped for measure of Congress, Mr. M. expects to dispense with the necessity of a further increase of the currency. He states that the present circulation is about three times the sum required for the business and trade of the country, they being able to maintain a circulation of $150,000,000, while the amount of notes afloat is $452,979,806. Mr. Memminger is correct in saying, with these figures, that the price, of gold is no criterion of the depreciation of the Confederate money. The present excess of circulation is no justification for a depreciation anything like, that exhibited by the price of gold.
The Daily Dispatch: August 29, 1863., [Electronic resource], Later from the Notrh. (search)
Gillmore. We copy the correspondent's version of it: General Beauregard to General Gillmore. Under date of Headquarters Department of South Carolina, Georgia, and Florida, Charleston, S. C., July 4, 1863, General Beauregard says that it is his duty, in the interests of humanity, to address Gen. Gillmore, with a view of effecting some understanding as to the future conduct of the war in this quarter. And then, after alluding to the expedition set on foot by his predecessor, Major General Hunter, to the Combahee river, which seized and carried away negro slaves off plantations on its banks, ravaged our plantations, &c., he says he does not propose to enter upon a discussion touching that species of pillaging, but desires to acquaint General Gillmore formally that more than one plantation was pillaged, buildings burned, and crops destroyed — acts which were not rendered necessary by any military exigency. He shows, in a manner satisfactory to himself, that this military e
The Daily Dispatch: August 29, 1863., [Electronic resource], The currency — letter from Secretary Memminger. (search)
The currency — letter from Secretary Memminger. The following letter from Secretary Memminger to Senator Hunter relative to the currency, is published: Treasury Department. C. S. A. Richmond, August 21, 1863. Hon. R. M. T. Hunter, Lloyd, Va., Sir --In reply to your inquiries about the finances, I send you a conduced statement of the issue of Treasury notes, and of the funding operations of the Treasury. You will see from this statement that the funding has been eminently succHon. R. M. T. Hunter, Lloyd, Va., Sir --In reply to your inquiries about the finances, I send you a conduced statement of the issue of Treasury notes, and of the funding operations of the Treasury. You will see from this statement that the funding has been eminently successful; and you will learn, also, that the amount of outstanding Treasury notes is still within the limit of the depreciation which I reported to Congress at the last session. My report then estimated the amount of circulation which the country could probably bear at $150,000,000. The statement now made shows that the outstanding Treasury notes used as general currency amount almost to three times this amount. But, when it is considered that a very large portion of these notes are across