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Browsing named entities in a specific section of Edward Alfred Pollard, The lost cause; a new Southern history of the War of the Confederates ... Drawn from official sources and approved by the most distinguished Confederate leaders.. Search the whole document.

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July 31st, 1865 AD (search for this): chapter 25
by the Federal government, in the progress of the war, has been officially stated, in frequent monthly bulletins from the Treasury Department, at about two thousand eight hundred millions of dollars. It is the generally received opinion in financial and official circles that the debt, when all audited and settled, will reach the round sum of three thousand millions of dollars. There was outstanding in the United States in the form of currency issued from the Federal Treasury, on the 31st of July, 1865, the aggregate sum of seven hundred and eleven millions of dollars; composed of five per cent. notes, six per cent. compound interest notes, greenbacks not bearing interest, and fractional currency. Up to that date, the circulation of the National Banks had reached one hundred and fifty seven millions, and the supposed amount of the notes of State banks still in circulation, was about eighty millions. The aggregate circulation in the Northern States, therefore, had reached, at the en
March, 1778 AD (search for this): chapter 25
o observe the similarity of career which is presented in the cases of the money of the Southern Confederacy, and of the Congress of the first American Confederation. We have already stated the gradual depreciation of the one. The progress of the depreciation in the old Continental money, though somewhat more tardy, was in the same degree. In May, 1777, the Continental paper dollar was worth at the rate of two and two-thirds for one in specie. In December it was worth four for one. In March, 1778, it was worth five for one; in December, six for one. In February, 1779, it was worth ten for one; in June, twenty; in September, twenty-four; in December, thirty-nine. After the year 1779 it seemed to have no value. The total amount of this old Continental money that was issued, was two hundred millions of dollars; and it was worth to those who received it, at the period when paid out by the Government, only thirty-six and a half millions of dollars. A similar scaling of the money of
May, 1777 AD (search for this): chapter 25
y measured by the old dollar's worth, which was much higher than the values furnished by the brokers' quotations in Richmond. It is interesting to observe the similarity of career which is presented in the cases of the money of the Southern Confederacy, and of the Congress of the first American Confederation. We have already stated the gradual depreciation of the one. The progress of the depreciation in the old Continental money, though somewhat more tardy, was in the same degree. In May, 1777, the Continental paper dollar was worth at the rate of two and two-thirds for one in specie. In December it was worth four for one. In March, 1778, it was worth five for one; in December, six for one. In February, 1779, it was worth ten for one; in June, twenty; in September, twenty-four; in December, thirty-nine. After the year 1779 it seemed to have no value. The total amount of this old Continental money that was issued, was two hundred millions of dollars; and it was worth to thos
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