OUR SOUTHERN FILES: Financial Condition of the Rebel States; CONFEDERATE VIEWS ON REPUDIATION (9/12/1864)

New York Times - Times Machine ^ | 9/12/1864

[Homer_J_Simpson]

THE REBEL FINANCES.

ANOTHER LETTER FROM SECRETATY TRENHOLM.

The Augusta papers publish the following letter from Secretary TRENHOLM:

TREASURY DEPARTMENT, C.S.A., RICHMOND. Aug. 15, 1864.

SIR: I am greatly obliged by your letter of the 8th inst., which is conceived in the true spirit of a patriot. If the people stand by the Government and encourage Congress to do their duty manfully, there is not the slightest danger about the public debt. Our people are committing an act of great folly to be buying property of all kinds at ten times what it will bring when the war is over, while foreigners are buying their six, seven and eight per cent. bonds and carrying them abroad. These bonds will bring more in specie when peace comes than they are bringing now in currency, and we will have to pay these strangers in full whether we wish or not; whereas. If we kept the bonds at home, we would get back all the taxes collected to pay the interest. I am trying to pay for all foreign supplies out of the profits on cotton, and we may have nothing to buy with bonds and Treasury notes but flour, corn, meat and manufactured goods and to pay transportation to railroads. If we break down under such circumstances. it will be our own fault and we will deserve nobody's compassion or sympathy.

Yours, respectfully,

G.A. TRENHOLM, Secretary of Treasury,

REPUDIATION.

From the Richmond Examiner, Aug. 31.

Property is dearer and money cheaper in the Confederacy than they ever were before in any country at any period. It follows that if Confederate independence is nicely to be established and the war to be ended within say reasonable period, the rich men after its close will be those who shall have converted their surplus property

[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

https://www.freerepublic.com/tag/by:homerjsimpson/index?tab=articles

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/4264117/posts

[Homer_J_Simpson]

1

2

3

4

5

6

[Homer_J_Simpson]

Our Southern Files: Financial Condition of the Rebel States – 2-3
Official Bulletin: Gen. Sherman’s Position at Atlanta – 4
Army of the Potomac – 4
The War in Tennessee: Gen. Rousseau Concentrating his Forces – 4
From Nashville: Atlanta Fallen, a Joy but not a Surprise – 4
Raid on a Plantation – 5
Capture of a Blockade-Runner – 5
News from Washington – 5
Base Ball: Mutual vs. Atlantic-Championship Game – 5
Recruiting of Negroes – 5
Editorial: Less Exhilaration and More Firmness – 5-6
How to Save the Union – 6
Editorial: Did He Accept the Platform? – 6
Gen. John A. Logan – 6
News of the Day: The Rebellion – 6