The Abbeville messenger. (Abbeville, S.C.) 1884-1887, 1886-06-08

pany OF Georgians, commanded by Capt.
George Washington Lee. They were
the first body of troops enlisted by the
Confederacy.
When their provisional Congress rro-
vided for loan Of $15,OOO,OOO "to meet
the emergencies OF Government" they
thereby provided another emergency.
The Government had no paper to print
their bonds, certificates and notes upon.
They managed to get the chief ingre-
dicnt of paper money credit very we'll,
but stuck fast while for lack Of what is
usually comparatively valueless. The
paper mills Of the South made only the
ordinary newspaper and the common
wrapping paper Of the shops. The finer
manufactures Of the country lay north
of the line of separation. G. b. Lamar,
president of the Bank Of the Republic,
in New York, acting as agent for the
Co>hesdarste Government, arranged to
have the work done by the Enrer1cSa,aT
Bank Note Company, but when the
printed and ready to be shipped the
secret service officers Of the National
Government swooped down and confs-
Gated the whole batch. The difficulty
of finding paper and engravers was not
solved until the removal Of the Govern
ment from Montgomery to Richmond.
The Richmond paper mills were finally
able to furnish sort Of bank note pa
per, but the first issue was printed by a
firm Of German engravers in Richmond
on paper smuggled through. the lines
from Baltimore. The proof sheet, Of
eight one-hundrcd dollar bills, was far
from handsome, but they were in hurry
and they approved it. 1t is now in the
possession OF Col. Capers, and bears
upon the back Of it this incription, made
at the time, in the handwriting Of Sec
rctary Memminger
~"When the money. changers become
familiar with the peculiar features of
these uncanny bills it will be rs difficult
to pass counterfeit as if they were en-
grayed on steel by an expert; maybe
more sou
Secretary Memlninger seems to have
been both wit and philosopher.
Unattractive as they were in appear
ance and uncertain in the promise they
expressed, they passed at par in several
sea ports Of Dixie 'sfor at least month";"
as Col. Capcrs carefully puts it, '.after
they were issued" Several large bills
Of exchange were bought in London
and Paris at par. But the financial
boom Of the Confederacy didn't last
long. When 1t came to be August, '6l,
the Canal and Citizens banks in New
Orleans were the only ones handling
Confederate mo,.ey at par. On the 9th
Of August even they suspended specie
payments, notifying tho Richmond au-
thorities of their intention two days in
advance by private cipher dispatch.
Col. Capcrs has the original Of this dis
patch, in pursuance Of which the Gov
ernment made quite saving specula-
tionfor itself by buying up all foreign
exchange it could lay its hand, on in
New Orleans. Mobile, Savannah, Char
lesion and Richmond during the two
days of grace.
COL Capers's recollection of those
early days Of thee war are continuous
story of makeshifts and expedients
The young Government lived from
hand to mouth. One of the first naval
officers to report for duty was Rapheal
Semmes, afterwards commander of the
Alabama. He was on hand before
they had deck for him to stand on and
worked for short time in the treasury
department at Montgomery. A merchant
vessel was soon bought and Semmes,
after inspecting her. returned to Mont
gomery and announced to his fellow
clerk, Col, Capers:
"She is a good craft, sir. good craft.
When I have strengthened .hcr timbers
and cut her down to fighting trim, my
word for it, she will do brave work,
sir.r.
She was accordingly altered and arm
ed and with Semmes onher quarterback
made good his prediction to the dire
cost Of such as went down to the sen in
ships under the Stars and Stripes in
those days. The vessel was the Sum
ter