Shortly after, I sent to Mr. Chase the sum of $245,760, being the amount of Confederate funds paid over in cash by the several banks. I specified the source from which the money came — Confederate[520] The result is, therefore, upon the showing of the bank by its return, that there is due and payable to the Confederate States, and therefore, now to be paid to the United States, the sums following:--This is the legal result to which the mind must arrive in this discussion. But there are other considerations which may apply to the first item of the account. Only the notes of the Confederate States were deposited by the treasurer in the bank, and by the order of the ruling authority then here, the bank was obliged to receive them. In equity and good conscience, the Confederate States could call for nothing more than they had compelled the bank to take. The United States succeed to the rights of the Confederate States, and should only take that which the Confederate States ought to take. But the United States, not taking or recognizing Confederate notes, can only leave them with the bank, to be held by it hereafter in special deposit, as so much worthless paper. Therefore, I must direct all the items but the first to be paid to my order for the United States, in gold, silver, or United States treasury notes at once. The first item of $219,090.94, I will refer to the home government for adjudication; and, in the meantime, the bank must hold, as a special deposit, the amount of Confederate treasury notes above mentioned, and a like amount of bullion to await the decision.
Confederate States treasurer's account $219,090.94 Confederate States special accounts 12,465.00 Deposits by officers: J. M. Huger, receiver 106,812.60 G. M. Ward, receiver 72,084.90 J. C. Manning receiver 1,120.00 $411,573.44 M. L. Smith, receiver 16,026.52 S. Macklin, receiver 6,814.57 Reichard, receiver 497.30 Total, $434,911.83 Benjamin F. Butler, Major-General Commanding.
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Shortly after, I sent to Mr. Chase the sum of $245,760, being the amount of Confederate funds paid over in cash by the several banks. I specified the source from which the money came — Confederate
A. M. Thayer and Co. 1892.
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