IMPORTANT FROM WASHINGTON: The Treasury Note Bill Signed by the President; The Issue of Certificates of Indebtedness (2/27/1862)

New York Times - Times Machine ^ | 2/27/1862

[Homer_J_Simpson]

WASHINGTON, Wednesday, Feb. 26.

THE TREASURY NOTE BILL.

The President has approved of the United States Note bill, and it is, therefore, a law.

WASHINGTON, Wednesday, Feb. 26.

The following is a copy of the letter from the Secretary of the Treasury, accompanying the bill submitted by him, authorizing the issue of certificates of indebtedness to public creditors, and which bill was yesterday promptly passed by Congress, and has received the approval of the President:

TREASURY DEPARTMENT, Feb. 25, 1862.

SIR: Notwithstanding all possible exertions on my part to provide means of satisfying the just demands of public creditors, and, notwithstanding the actual payments, averaging nearly a million and half of dollars each day, the averages have largely accumulated, and has caused great inconvenience, and in some instances serious trouble and distress. Those creditors, especially those who have furnished supplies, arms, and transportation, urgently require payment, and ought to have it. The delay affects not themselves only, but, through manifold ramifications, large numbers of others, not to say whole communities. The amount of unsatisfied requisitions from the several departments is $26,430,557 83, of which $21,281,653 69 is from the Department of War. The amount of floating debt chiefly existing in the War Department, probably exceeds forty millions. It is impossible to borrow advantageously until financial measures necessary to insure prompt payment of interest from tax, and to provide the best possible market for the bonds of the United States, shall have received the sanction of Congress; and the means of payment by notes to be issued under the act of Congress just passed, cannot be provided except after the lapse of the considerable time required for their preparation or completion. Under these circumstances, I have anxiously sought for some measure of relief, and after much reflection,

[Homer_J_Simpson]

Free Republic University, Department of History presents U.S. History, 1861-1865: Seminar and Discussion Forum
The American Civil War, as seen through news reports of the time and later historical accounts

First session: November 21, 2015. Last date to add: May 2025.
Reading: Self-assigned. Recommendations made and welcomed.

Posting history, in reverse order

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To add this class to or drop it from your schedule notify Admissions and Records (Attn: Homer_J_Simpson) by reply or freepmail.

Link to previous New York Times thread

https://freerepublic.com/focus/f-chat/4041721/posts

[Homer_J_Simpson]

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[Homer_J_Simpson]

Important from Washington: The Treasury Note Bill Signed by the President – 2
The Burnside Expedition: Massachusetts Looking After Her Wounded and Sick Soldiers – 2-3
Important from Tennessee: Nashville Positively Evacuated by the Rebels – 3
Important from Cairo: The Mortar Fleet Finished – 3
Important from New-Mexico: Growing Strength of the Union Army – 3
Important from Missouri: A Successful Skirmish at Independence – 3-4
The Fort Donelson Captives: An Hour Among the Secesh, and What We Saw and Heard There – 4
The Fight at Fort Donelson – 4-5
The Gunboats – 5
The Horse Market – 5
From the South: The Richmond Press on the Late Rebel Reverses – 5-6
Prison Life in Richmond: The Tobacco Houses – 6-7
Editorial: The Rebel Agents in Downing-street-Decline and Fall of the Rebel Cause in England – 7-8
Mistaken Clemency – 8
General City News – 8

[BroJoeK]

"Important from New-Mexico: Growing Strength of the Union Army – 3"

To date Confederates have won every engagement in New Mexico.
This piece suggests the future may not be so successful for Confederates.

[sauropod]

Bkmk