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Varina Davis, Jefferson Davis: Ex-President of the Confederate States of America, A Memoir by his Wife, Volume 2, Chapter 80: General Joseph E. Johnston and the Confederate treasure. (search)
able John H. Reagan, who was the last Secretary of the Confederate Treasury, and who now represents Texas in the United States Senate, wrote: Before we left Washington, Ga., the money of the Richmond banks, which I understood had been under the protection of the escort for the protection of the Confederate money, was placed under the exclusive control of the agent of the banks, whose name I do not remember. I do not know what became of it. I understood from the verbal statement of Mr. Trenholm, on his turning over the business of the Treasury Department to me, that there was in the Confederate Treasury some eighty-five thousand dollars in gold coin and bullion; some thirty-five thousand dollars in silver coin; about thirtysix thousand dollars in silver bullion, and some six or seven hundred thousand in Confederate Treasury notes; besides some sixteen or eighteen thousand pounds sterling, in Liverpool acceptances. You will remember that the silver coin and an amount of gold
Rebellion Record: a Diary of American Events: Documents and Narratives, Volume 2. (ed. Frank Moore), Doc. 125.-Southern Bank Convention. (search)
other produce, or the purchase of the same, be postponed until an adjourned meeting of the Convention. And they have also considered the resolution offered by Mr. Trenholm, recommending advances be made to planters by the Banks, and they recommend an adoption of the same. They ask leave to sit again, having not disposed of other matters committed to them. After some debate, in which Messrs. Coffin, Bee, McFarland, and Trenholm participated, the recommendation of the Committee as to the disposition of the Whiting resolution was adopted. Mr. Trenholm's resolution was adopted, and is as follows: Resolved, That the planters of cotton and other proMr. Trenholm's resolution was adopted, and is as follows: Resolved, That the planters of cotton and other produce having responded with great spirit and liberality to the calls of the Government, and subscribed largely in produce to the proposed loan for the defence of the Confederate States, it is hereby recommended to all the Banks throughout the country, to make to planters who have thus subscribed a portion of their cotton or other p
other produce, or the purchase of the same, be postponed until an adjourned meeting of the Convention.--And they have also considered the resolution offered by Mr. Trenholm, recommending advances to be made to planters by the Banks, and they recommend an adoption of the same. They ask leave to sit again, having not disposed of other matters committed to them. After some debate, in which Messrs. Coffin, Bee, McFarland, and Trenholm, participated, the recommendation of the committee as to the disposition of the Whiting resolution was adopted. Mr. Trenholm's resolution was also adopted, and is as follows: Resolved, That the planters of coMr. Trenholm's resolution was also adopted, and is as follows: Resolved, That the planters of cotton and other produce having responded with great spirit and liberality to the calls of the Government and subscribed largely in produce to the proposed loan for the defence of the Confederate States, it is hereby recommended to all the Banks throughout the country, to make to planters who have thus subscribed a portion of their
nterest. These would more appropriately perform the functions of a currency, and they are of the opinion that the larger notes, such as $20 and $100 would be largely taken up by a class of our citizens who are not in the practice of making such investments. These notes would pass into their hands in the course of business, and they would very soon discover the advantage as well as the merit of thus contributing their aid in support of the Government of their choice and of affections.--The committee gave also a respectful consideration to the plan submitted by Mr. Holmes, for the adjustment and final extinguishment of the public debt; but, without in any way impeaching its acknowledgement, they decided not to express any opinion as to the expediency of its adoption by the Government, for whose purposes its adoption could be best determined, in their opinion, by the Secretary of the Treasury. All of which is respectfully submitted, G. A. Trenholm, Ch'n. Richmond, July 25, 1861.
The Daily Dispatch: August 23, 1864., [Electronic resource], Letter from the Secretary of the Treasury. (search)
Letter from the Secretary of the Treasury. G. A. Trenholm, the new Minister of Finance of the Confederacy, has written a letter in reply to one from Governor Bonham, of South Carolina, which will be read with interest by the people. We copy it in full: Treasury Department, Confederate States of America, Richmond, August 5, 1864. To His Excellency Governor Bonham: Dear Sir: Your very kind and encouraging letter of the 30th ultimo was received yesterday. If it shall prove to bthat planters and farmers should alone be called upon to declare in favor of lower prices; manufacturers, railroad companies, and every great interest of the country, should contribute to this reform. --Let us content ourselves with more moderate prices and keep down the public debt; and not by extorting the highest prices, swell the public burthen and disturb our confidence in the virtue and the resources of the Government. I remain, dear sir, yours, With great respect, G. A. Trenholm.
The Finances. Mr. Trenholm, who seems to be quietly and assiduously pursuing his measures for recruiting the credit and the means of the Treasury, has written a letter to Governor Bonham, of South Carolina, on the subject of the Confederate Finances, which has been published by the South Carolina papers. In this letter he s. Memminger's policy was more constricted.--Formerly the Treasury was a sort of Car of Juggernant that rode over people, and was entirely independent of them. Mr. Trenholm desires to ameliorate the relations between the department and the public and to restore it to their confidence. He attributes the loss of confidence in the Cld not have been alone, but that manufacturers, railroad companies, and every great interest, should contribute to this reform — this lessening of prices. Mr. Trenholm expresses, in conclusion, the following generous and patriotic sentiment, which may be accepted on all hands: "Whatever differences of opinion may have e
ships, having each twenty-five thousand dollars in gold, were captured by the enemy, and the sums with which they were freighted passed into his hands. The loss was considered heavy; and as it could have been easily avoided, the Secretary of the Treasury was thought to have acted most unwisely. The fifty thousand dollars on board the Lynx seems to have had a very narrow escape. We do not know, we repeat, what necessity may prompt the Government to ship coin, and can hardly suppose that Mr. Trenholm is so impractical as to send it out of the country if an equivalent is within his reach. Gold certainly ought not to be sent away if a substitute can be found to be remitted in its stead. It is quite scarce enough in the country, and will be greatly needed as the basis of our circulating medium when the war is over. It is, moreover, so unsafe in running the blockade that is enough of itself to induce Government and individuals to send anything else in preference that will answer as a m
The Financial prospect of the Confederacy — letter from the Secretary of the Treasury. Secretary Trenholm has written a letter to the commissioners to fix prices for four of the States of the Confederacy, which will be read with interest and, we hope, profit. The chief cause of the depreciation of the currency is the distrust of Government securities; and the Secretary undertakes to show that this distrust is without reasonable foundation. He says: "The entire public debt, funded and unfunded, was, on the 1st of July last, about $1,250,000,000.--The expenses from the 1st of July to the 31st of December are estimated at about $325,000,000, making an aggregate of $1,575,000,000. "In this amount is included $250,000,000 of four per cent. bonds to be issued in place of a like amount of old currency funded under the act of February 17, 1864; but a considerable portion of this sum will be returned into the Treasury under the Tax Act; or, in other words, the whole sum prod
We have forborne thus far to comment upon the report of Secretary Trenholm because we had not studied it with the attention it deserves. It is an able document; points out, in our opinion, the only possible road to extrication from our difficriking contrast to the muddy, mysterious, enigmatical communications we have been accustomed to from that department. Mr. Trenholm gives one evidence, and it is a very striking one, that he is a man of business, practically acquainted with the subjexcept a lady's character — and that the slightest suspicion is sufficient to kill it dead. The recommendations of Mr. Trenholm are brief, business-like, and to the purpose. We must, he says, "anticipate the productions of future years of peace,il all shall have been redeemed. As to the means of improving the currency, it will appear from this short outline of Mr. Trenholm's views that he looks to the resources of the country alone for furnishing them.--And from no other source can they co
A contemporary journal recommends to Congress the policy of turning the whole subject of finance over to the Secretary of the Treasury, merely endorsing his views and giving to his suggestions the force of law. We like the idea. A single individual, of undoubted abilities, who is a practical man, and has devoted his whole life to the consideration of the subject in all its aspects, is surely a safer guide than a body of lawyers and farmers, such as our Congress is. We have no doubt Mr. Trenholm could, and would, present a plan for the relief of our finances which would completely succeed if Congress would only pass the necessary laws and not meddle with it any farther.--Now, if this be true with regard to financial matters, how much truer is it with regard to matters military. The Congress of 1776 was wont to have Washington before them every winter, when the season had put an end to active campaigning. They held a conference with him face to face, heard his suggestions, a
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