The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1863-01-24
.Rebel Financial Arrangement,

Among the Rebel dispatches lately captured
were the following letters from the Confederate
Secretary Of the Treasury ", in which he dis
closes nice little programme by which neatraI
England may be enabled, as he thinks, to give
the Rebels little assistance. It is very
shrewd scheme,-if it would but work! sa
Memminger, under date of October 81, 1862,
ncloses to Fraser, Trenholm l. Co., of Liver.
pool, for their guidance and consideration p
the following important letter to the Confed-
crate financial agent at Liverpool, Mr.. James
Spence: '.a +
CONFEDERATE STATES OF AMERICA,
Treasury Dept Richmond, Oct 81, 1s62I
JAMES SPENCE, Esq, Liverpool, G. B
SIR:-As you have been appointed Financial
Agent for the Confederate States, and Messrs.
Fraser, Trenholm l. Co., are its depositaries un-
der our law, desire that you would confer to
gether on The matter submitted by this letter.
have on hand gold and silver coin (cbiefy the
former) two and half millions of dollars which
desire to apply to payment of articles purchased
in England by our agents for the use of the
Confederate Government. We find it impossi-
BILE to purchase sufficient amount of exchange
for these purposes, and the small amount to be
had 10 at such high rates that it would be desi-
rable to furnish substitute. propose, there
fore, to make payment for purchases by a trans
fer to the creditor of so much of this coin as
may be requisite. .g
presume that when the coin thus becomes
bona fide the property Of British subject, the
British Government would, at his instance per-
nit any of it's vessels to bring over the same
for him. IF this expectation be realized, the
coin here would be as valuable as exchange, and
in England would probably realize its mint value,
less freight and insurance. ,s7.sr q
To enable you to carry out any arrangement
you may deem advisable, Messrs. Fraser, Tren-
holm e Co. are authorized to make an absolute
transfer OF the coin, or to draw bills for the
same on E. G. Elmore, Esq, Treasurer, payable
here, and copy of this letter is sent to each of
you that you may act in concert, and give US
the benefit Of your united counsel.
am renting, by opportunities as they oc-
cur, the bonds of the Confederate States, the
proceeds Of which, when sold, are intended to be
applied to the contracts, of which you have been
advised. Respectfully, your obedient servant.
~ G. G. MEMMINGER, O
Secretary of Treasury.
Another letter from Nemminger to the same
firm, Oct "a, 1862, contains snimportant direc-
tons az to the financial details, but is followed
by thus:
"TREAsURY DEPARTMENT, @. 3. A !
RICHMOND, Oct 20, 1862.
Messrs. FRASER, TRENHOLM, h Co., Liverpool.
"DEAR SIRs You will please extend credit
to Major J. B. Ferguson to the extent of five
hundred thousand dollars, and give him any
assistance in your power to make bis purchases
for the Confederate States.
81 have already informed you and Mr. Spence
that have on hand two and q half millions oil
dollars in coin, upon which drafts can be made
or which you are authorized to transfer to any
parties who may furnish the means to make oul
purchases This fund, or any amounts wbict
may be realized upon our bonds, will, trust
enable you to meet the credit herein extended
to Major Ferguson, in addition to that hereto
fore given. Respectfully, your obedient Ser
want, &C. G. MEMMINGER,
.....t Sec'y Of Treasury"