Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1863-01-17
Mr.. Memmiager TO Mr.. Spence.


JAMES SPENCE, Esq, Liverpool, q b.
SIR As you have been appointed financial agent for the
Confederate States and Mesers Fra or TrenhoIm 81 Co
are its depostares under law desire that you would
confer togeher on the matter submitted by this letter
have on hand gold and silver corr (chey the former
two and half millions of which desire TO apply 10 pay
msnt of articles purchased in England by agents for
the use OF the Confederate Government We find it
possible 10 purchase sufficient amount of exchange for
these poses ana the small amount to be had liz at such
bigh rates that would be desirable to furnish
propose therefore to make payment for purchases by
transfer TO the creditor of much of this coin may be
requisite. presume that when the coin thus becomes
bona de the property of British subject that the Bri
tsh Government would at his Instance permit any Of it's
vesse to bring over the same for him If his expectation
be realized the con here wonld be valuable ex-
chsnge and in England would probably realize its mint
value, less freight and insurance.
To enable you to carry out arrangement you may
deem advisable, Mes4rs Fraser Trenholm & Co are al-
horzd to make ahEous transfer of the coin or to draw
bills for the C. Elmore, Esq., Treasury paya-
BILE heIe and copy of this letter is sent to each of you
that you act in concert, and give the benefit OF
your united counsel.
am RENTING, by opportunities they occur the bonds
Of The Confederate States the proceeds of which, when
sod are intended to be applied to the contracts o which
Respectfully, your obedient servant,
c G. MEMMINGER,
Secretary of Treasury.
Mr.. Menminger 10 Messrs. Fraser, Trenholm & Co.
Duplicate
TREASURY DEPARTMENT, C. IS. A.
Richmond October "a, 1862
Msss;s. FRASER, TRENHOLM q Co, Liverpool, G. b.
DEAR SIRs: Your letter Of July 2lst is just received,
advising sales per Economist ard balances the credit
the Confederate States of f7 III 10 Id and Sd
All these credits with all other remtances from this De-
parsmsn you will place to the credit of the Treasurer of
the Confederate States subject to bis draft The course
OF business at the Treasury to draw the deposares
in favor of third parties When these parties creditors
the payment to them being vouched ends the matter
When the third party is merely dsbursng officer of the
Government the effect of the reasurers draft on the de-
poitary to transfer the to the credit of the
having to account at the Treasury for the whole amount
So, too, when bills of exchange any other remit
ancs forwarded you by the Secretary the Navy
Of War, they not to be credited TO the Treasurer
but to the officers directed by such Secretaries and your
account must be rendered to them ani not to this De.
partment.
AT the suggestion of Minister to England propose
to isus cotton certificates Of which send you specimen
When countersgned by him he will deliver them to you
receive the money to be paid for them You will take
that the date in the Enforcement corresponds with the date
e receiving the money The proceeds will be deposited to
the credit Of the Treasurer, and it ia important that
should be advised of any sales promptly possible
Ia regard to the payment Of the ECO 900 mentioned in
your letter Of July 2lst to Capt Caleb Huse, unable
to speak definitely until get sundry details of which
l will advise you 10 another letter.
Respectfully, your obedient servant,
G. G. MEMMINGER,
Secretary Of Treasury.
The cotton certificates enclosed the same those
quoted above