Confederate Money

[mobile_96]

Makes you wonder what happened the rest of them. 7,160 of the Liberty Shield were supposedly issued.

Maybe some of the bills were burned to keep warm during the '65-'66 winter.

 

[Pollaco]

Maybe some of the bills were burned to keep warm during the '65-'66 winter.

I've heard that more than a few stacks or bundles were used to stoke the fires.

 

[Pollaco]

While doing some reading on the subject of Southern Finances,I came across a passage that said Secretary of the Treasury Memminger opposed the embargo of cotton shipments to force foreign recognition. I had always thought he was in favor of it. He possibley could have propped up the currency a little more had the Congress not meddled in his plans.

 

[Western Reserve Volunteer]

Did either the Union or unscrupulous people in the South ever try to counterfeit these bills? If so, are there any surviving counterfeit CS bills?

 

[Pollaco]

Did either the Union or unscrupulous people in the South ever try to counterfeit these bills? If so, are there any surviving counterfeit CS bills?

The answer is yes to both questions. There is a $100.00 bill popularly known among collectors as the "Havana counterfeit". There are more but this is one of the more interesting counterfeits and it is in many collections. It was believed to be produced in Cuba and smuggled into the Confederacy. I'm hoping a collector out there will say a few words about counterfeiting of Confederate notes by the Union as an espionage tool. I have heard this was done to ruin the Southern Economy but haven't seen much about it in writing.

 

[Western Reserve Volunteer]

Cool!

Ironically I wouldn't be surprised if the Secret Service (originally formed to stop counterfeiting) was behind that. I was thinking that counterfeiting a note of a rebel government to destroy their economy would be an obvious move to make.

 

[BillH]

Cool!

Ironically I wouldn't be surprised if the Secret Service (originally formed to stop counterfeiting) was behind that. I was thinking that counterfeiting a note of a rebel government to destroy their economy would be an obvious move to make.

It was, and they did, although my understanding is that it was not the Secret Service. They didn't come into being until after the war. Their first directive was indeed to stop counterfeiting... apparently as much as 1/3 of the currency in the US (not just the South) was counterfeit!

Pierre Fricke has written a number of excellent books about Confederate currency. More than 20 of the various currency types were counterfeited! His book "Collecting Confederate Paper Money" says the following about the many counterfeits

"Many of these counterfeits circulated as real currency. It is easy to understand how the excellent reproductions circulated, but the poorly created woodcut versions circulated as well. This was due to the fact that in 1861 there were so many new and unfamiliar paper money designs issued by banks, private merchants, insurance companies, railroads, and the Confederacy, that the public had great difficulty knowing what was real."

Here is a picture of the T-33 note, counterfeit on top, real underneath.

 

[Pollaco]

It was, and they did, although my understanding is that it was not the Secret Service. They didn't come into being until after the war. Their first directive was indeed to stop counterfeiting... apparently as much as 1/3 of the currency in the US (not just the South) was counterfeit!

Pierre Fricke has written a number of excellent books about Confederate currency. More than 20 of the various currency types were counterfeited! His book "Collecting Confederate Paper Money" says the following about the many counterfeits

"Many of these counterfeits circulated as real currency. It is easy to understand how the excellent reproductions circulated, but the poorly created woodcut versions circulated as well. This was due to the fact that in 1861 there were so many new and unfamiliar paper money designs issued by banks, private merchants, insurance companies, railroads, and the Confederacy, that the public had great difficulty knowing what was real."

Here is a picture of the T-33 note, counterfeit on top, real underneath.

View attachment 342758

Several of the mistakes are noticeable but the biggest mistake or the one that really stands out to me is the image of Memminger. The crease across his face where the bill was folded does partially hide it but the resemblance isn't even close. But the general public probably didn't really know what Memminger looked like or even who the character on the bill represented.

 

[Larryh86GT]

I have a couple notes with the Confederate Treasury seal on them. To me it adds to the note.

 

[Copperhead-mi]

Did either the Union or unscrupulous people in the South ever try to counterfeit these bills? If so, are there any surviving counterfeit CS bills?

The [Richmond] Daily Dispatch: November 14, 1862.
Counterfeiting Confederates Treasury notes.
Detectives Washington Goodrich and Ro. Craddock arrested yesterday several slaves among them four, named Dick, Oliver, Henry Smith, owned by Mr. Caskie, and Jim Stuart, owned by H. J. Corville, on the charge of stealing blank sheets of genuine Confederate notes from a room in the Custom-House, and afterwards filling up and passing the same as genuine. Several days since Detective Goodrick, who is in the employment of the Treasury Department, was informed that genuine notes, with counterfeit signatures, had been put in circulation by some means, which he was requested to find out.--Becoming convinced that the sheets were stolen by somebody having access to, and a knowledge of, the building, he secreted himself for several nights in the room where the notes were kept, and was rewarded on Wednesday night for his trouble by the entry of the thief, who he immediately grabbed, and found to be a servant employed in the building in attending on the President's office. This fellow "peached" on some of his comrades, named above, who were taken in custody, put in jail, and will be carried before C. S. Commissioner Watson to-day for examination. The stolen notes are of the denomination of $20, printed in South Carolina.--Those of them put in circulation had the names of the signers traced by one of the cutest of the gang. The name of "T. O. Keesee," on the one we saw, was executed with tolerable accuracy.

http://dlxs.richmond.edu/cgi/t/text/text-idx?c=ddr;cc=ddr;view=text;idno=ddr0631.0023.115;rgn=div3;node=ddr0631.0023.115:3.2.1

 

[DaveBrt]

Yes, US money was used in the South throughout the war, but not for common transactions. US currency was purchased from the public and from Union POWs by the CS Government for use in cross-line purchases and overseas purchases.

QM General's Outgoing Letterbook
October 28th 1864

Maj. B. McKinne
Q. Master
Savannah Geo

Sir,
You are hereby authorized to purchase for the service of the QMaster Dept. from H. Williams Esq five thousand, six hundred forty four dollars in United States currency (Green backs) paying therefor at the rate of three & one half (3 1/2) in Confederate currency for one thereof.

A R Lawton QMG

This money was captured when the USS Water Witch was captured.

 

[Pollaco]

I have a couple notes with the Confederate Treasury seal on them. To me it adds to the note.

View attachment 342774

View attachment 342775

I agree , the red stamp not only adds to the appeal of the notes it makes them more "collectible". The old book that I have says it increases the value of a bill 25% on 20s and above. Does your red stamp contain what looks like a palmetto tree along with a portion of a shield? None of my notes contain the treasury stamp or control mark so I really don't know what one looks like. A sheet of notes (usually 4 or 8 notes to the sheet)was stamped in a corner so all notes on the sheet didn't get one.

 

[Larryh86GT]

I agree , the red stamp not only adds to the appeal of the notes it makes them more "collectible". The old book that I have says it increases the value of a bill 25% on 20s and above. Does your red stamp contain what looks like a palmetto tree along with a portion of a shield? None of my notes contain the treasury stamp or control mark so I really don't know what one looks like. A sheet of notes (usually 4 or 8 notes to the sheet)was stamped in a corner so all notes on the sheet didn't get one.

They do look like the proper inspection stamp.

 

[Pollaco]

My only stamped ones are a $10.00 with the "Kirby Smith" stamp (Trans Miss. Dept) that we talked about on post 22 and one of my $100.00 bills is stamped with
a Macon Georgia stamp on the back were interest at was paid. I read where some city stamps are rare and can add to the value. But I doubt Macon is one of those rare ones.

 

[Larryh86GT]

I just noticed something interesting on my 20.00 note on the left top there appears to be some
hand writing that was cut in half when the note was cut. Would that be the treasury inspectors
initials that stamped the note with the treasury seal?

 

[Pollaco]

N.J.D. ? Or are there 4 Initials?

 

[Larryh86GT]

Maybe the last 2 initials are T.D. - Treasury Dept?

 

[BillH]

The stamp is familiar but I've never seen initials like that (admittedly not an expert)...

 

[Pollaco]

I'm no expert either and it does make me curious. There is a story behind those initials that we'll never know, I would love to hear it but without the speculation.

 

[Copperhead-mi]

I can't see US dollars not being accepted especially if Union Sulters were nearby also smugglers could accept them.
Leftyhunter

United States currency and coinage was the preferred money of many Confederate soldiers and citizens to the extent that General Thomas Hindman, commander of the Trans-Mississippi Department, issued an order commanding all people in his jurisdiction use Confederate currency and anyone who was caught with U.S. currency would be immediately arrested and punished.

GENERAL ORDERS,
HDQRS. TRANS-MISSISSIPPI DISTRICT, No. 4. Little Rock, Ark., June 2, 1862.

I. All person within this district are hereby required to take Confederate notes as currency at par in all business transactions.

II. The following tariff of prices is hereby established throughout this district for the articles specified:

Flour.............................per hundred.......$8 00
Bacon............................. Per pound.......... 25
Beef...................................do............ 10
Corn..................................per bushel..... 75
Corn meal..................................do........1 00
Chickens..................................per dozen..4 40
Butter.....................................per pound 20
Eggs......................................per dozen. 15
Potatoes.................................per bushel..1 00
Hay any fodder........................per hundred....1 50
Lard....................................per pound... 20
Pork.........................................do..... 15
Turkeys.....................................each.... 1 00
Salt....................................per sack....15 00
Sole leather............................per pound... 50
Upper leather...............................do...... 80
Harness leather.............................do...... 75
Molasses.................................per gallon. 40
Sugar....................................per pound.. 10
Quinine.................................per ounce...10 00
Calomel.....................................do...... 50
Morphine....................................do......15 00
Castor oil..............................per gallon.. 5 00
Ipecac..................................per pound... 8 00
Opium...................................per ounce... 2 00
Tartar emetic.................................do.... 25
Blistering ointment.....................per pound... 8 00
Epsom salts.................................do...... 60
Soda........................................do..... 50
Rhubarb..................................per ounce.. 50
Cream of tartar...........................per pound.. 2 00
Turpentine..............................per gallon.. 2 50
Dover's powders.........................per ounce... 75

III. Every person violating paragraph I of this order, and every person having for sale any article specified in paragraph II, and demanding or receiving for the same any higher price than that established therefor, or refusing to sell the same for such price, must be arrested and sent to these headquarters, to be dealt with as such inhuman and disloyal conduct may deserve. Proof of the fact, in the form of affidavits, before any State officer authorized by law to administer an oath must be sent with the prisoner.

IV. All Confederate officers and soldiers are hereby instructed, and State officers and loyal citizens are authorized and requested,to execute this order promptly and without respect to persons in every case of its violation.

By order of Major-General Hindman:
R. C. NEWTON,
Assistant Adjutant-General

O.R. Series I, Vol. XV, pg. 782