The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-04
CONFEDERATE TREASURY.
Nearly $3,OOO,OOO in Gold and silver
MysteriOusly Disappear.

,
At stated intervals one sees in the press
of the country an alleged authentic ac-
count of what became of the wealth of
the confederacy.
The confederate government possessed
in the neighborhood of 100000 in gold
and silver coin and bullion, not to mention
the billion or so of currency. This sum
was reduced from time to time to pay
for blockade runners at the ports of
Charleston and Wilmington, the same be-
ing used for the purchase of arms and
supplies.
The following story Of what became of
the money is of peculiar interest to Au-
gustans. from the fact that the confeder-
ate treasury was located here the last
years of the war, the old Mechanics Bank
being the depository.
MIR. John A. North was at that time the
teller of this bank, and it was from him
that l learned the particulars recounted
below of the disappearance of the ma
TONS wealth. And, by the way, Mr..
North Is the sole survivor of the officers
of this institution, and he has a very dis
tinct recollection of the financial doings
of those days.
The Mechanics Bank was at that time
one OF the largest financial Institutions
in the south. It's officers were Thomas A.
Metcalf, president; Milo Hatch, cashier;
and John A. North, teller.
When 1t became evident that New Or
leans would fall into the possession of the
federals the money contained in the mint
there was removed to Montgomery and
subsequently, brought to Augusta. The
treasury here was in a plethoric condition
when the crisis became apparent TO the
confederate cabinet.
Early in 1865 Judge Crump, assistant
secretary of the treasury, put in appear
ance here with a considerable sum of mon
ey, mostly in gold Belonging to the banks
OF Richmond. This money was also de-
posted In the Mechanics bank along with
that brought from New Orleans
The massing of this enormous wealth at
this point was not unknown to great
one of great concern. Especially was
many, and the question of its safety was
this true as the hopelessness of the con-
federate cause grew more apparent to the
people. RMS fear for the safety of the
money was augmented by the fact that
the city was filled with returners from
the army, the majority of whom were in
desperate straits for the necessities of
life, and starvation became more serious
DAY by day The report reached the city
that the government had fallen, and the
people became wild. The confederate
stores located here were raided along with
the Georgia railroad depot
In the latter place was the personal
baggage of Gen. Beauregard, which was
also carried away by the mass. IL was
next rumored that the mob would loot
the Mechanics Bank A consultation
was held between Messrs. Metcalf ana
Crump and in the hopes of uuelling the
raiders, they ordered the bank to paw out
500 in gold for something like 81. 600 in
confederate currency.
The run that this inaugurated was ire
mendous. Confederate notes were
brought 4 NIB,
and for one entire day the bank paid out
gold for worthless paper. So great was
The quantity presented for exchange that
cotton baskets were used to hold it, The
hrst days experience caused Messrs
Crump and Metcalf to countermand the
order TO pay out gold for confederate cur
rency. That night number of teams I'M
der guard of cavalry drew up at the bank
and what remained of the treasury was
loaded on the wagons.
The wagon train crossed into Carolina
and proceeded up the river and crossed
back, easterly of Washington, Ga This
was the last seen of the wealth of the
/ treasury and no authentic account of its
disappearance has ever been published
| 1t was reported that the men conducting
the removal inaugurated a raid. Each Is
said TO have taken as much gold as he
could conveniently carry. and, mounting
a mule, departed TO enjoy his loot.
Some portion of the bullion was finally
recovered by the federals. who were
| closely pursuing the treasury train. This
money was returned TO Augusta, from
whence It was sent to Washington. ID G
Shortly after the war the president of
the Louisiana Bank made a personal de-
mand on Mr.. Metcalf for the return Of
that portion OF money sent from his
bank when the money was removed from
New Orleans. The demand met with re-
fusal and no effort was then made to
collect the sum.
IL is contended that the entire wagon
train with all its wealth fell into the
hands OF the federals and at various
times efforts have been made to have
congress reimburse several private cor
porations that entrusted their money to
the confederate government for safe keep
ing, a. being alleged that the money was
captured and returned to Washington
The old Mechanics Bank passed out of
existence with the close OF the war, but
the building yet remains as substantial
as ever. It Is situated just below Wash
ington, on Broad street, and is one of the
sights OF the city.
Shortly after the war the building again
did service as a banking institution TO
the great loss Of hundreds of the colored
people. A branch of the notorious Freed
mans bank was established here. It's ca
reer Is too well known to require COM
ment or review
The building is now used for general
merchandising purposes. It's strong
vaults no longer protect immense amounts
OF wealth. but could the walls speak they
could tell some startling tales OF other
times.
Thomas e. Edison has offered TO the
national museum at Washington "A set OF
Photographic films for the kaleidoscope
taken during President McKinleys inau-
guratlon. They show the President talk
ing the oath OF office Cleveland and Nc