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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], 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 conduSecretary 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 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 lasthe Treasury, on interest, we may not be able to attract and retain there all the Treasury notes not actually required for circulation. Very truly, yours., C. G. Memminger, Secretary of the Treasury. Statement of outstanding Treasury notes August, 8, 1863. Total of all kinds of General Currency Notes.$523,114,406