Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1863-01-17
". Memmiaaer to NJ. Spence.

Treasury Department. Richmond, October 81, 1862.
JAMES SPENCE, Esq, Liverpool, G. b,
SIR As you have been appointed financial agent for the
Confederate States and Messrs Fra err Trenholm IL Co.
its depo,itare under law desire that you would
confer together the matter submitted by this letter
have hand gold aud silver coin (chehy thu former
two and half millions of which desire TO apply 10 pay
ment of articles purchased in England by agents for
the use of The Confederate Government We find it i'm
possible 10 purchase sufficient amount of exchange for
these purposes and the small amount to be had is at such
bgh rates that would be abls to furnish substitute.
propose, therefore, to make payment for purchases by
transfer 10 the creditor of much of this coin may be-
requisite. presume that when the coin thus becomes
bo1a ide the property Of British subject that the Bri
itch Government would at his instance permit any Of it's
vesssls to bring The for him. II this expectation
be realized the coin here wonld be valuable ex-
oh me- and England would probably realize it's mint
value, less freight and Insurance..
To enable you to carry out arrangement you may
deem advisable, Mesrs. Fraser, Trenholm, d Co.
tbozcd to make ahsous transfer of the coin to draw
bills for the same C. E!more. Esq, Treasury, paya-
bic here and copy of this letter is sent to each of you
that you may act in concert and give the benefit OF
your united counsel.
am RENTING, bynpporunties as they occur the bonds
of The Confederate States the proceeds of which, when
sa are intended to be applied to the contracts of which
you have been advised
Respectfully, your obedient servant,
c G. MEMMINGER,
Secretary of Treasury.
Mr.. Men-miagerto Messrs Fraser, Trenholns g. Co.
Duplicate
TREASURY DEPARTMENT, c. s. A.
Richmond, October "a, 1862.
Msssss FRksEn, TRENHOLM & Co. Liverpool G. b,
DEAR SIRs: Your letter of July 2lst is just received
advising sales per Economist ard balances to the credit
Of the States of CT III 10 3D. and Cd
All these credits with all other remttances from this De-
parmsnt you will place the credit of the Treasurer
the Confederate States inject to bis draft the
Of business at the Treasury to draw the Repositories
IN favor Of third parties When these parties are creditors
the payment tn them being vouched ends The matter
When the third party is merely sbursng officer of the
Government the effect of The TreaHurer draft on the de-
poary is TO transfer the amount to the credit Of the
dsbursng officer, VIII oh he may check at PLEASURE be
having at the Treasury for the whole
&c. ton, when bills Of exchange, or any other remit
forwarded TO you by the Secretary of the Navy
OF War; they not to be credited TO the Treasurer,
but the ocers directed by such Secretaries and your
account must be rendered to them aud not to this De-
partment
At the suggestion of Minister to England pro pose
10 issus cotton certificates Of which send you specimen
When cuuntersgned BY him he will deliver thsm to you to
receive the money TO be paid for them You will take care
that the date in the Enforcement corresponds with the
q receiving the money The proceeds will be deposited III
the credit 81 the Treasurer, and il ia important that
should be advised of any sales promptly possible
Ia regard 10 the payment Of the ECO 900 mentioned in
your letter Il July 2Ist to Capt Caleb Huse unable
30 speak definitely. until get sundry details of which
will aivse you 10 another letter.
Respectfully, your o5edient servant,
c. C. MEMMINGER,
Secretary Of Treasury
The ctop certificates enclosed the same as those
quoted above