Confederate Hard Money Scarce From War Start to End
The Confederacy kept hard money tight from 1861 to 1865, totaling about $25 million in metal money. It funded about $1 billion in paper money while wartime needs drained foreign gold and European loans. Memminger faced gold shortages as treasury secretary, relying on local banks and personal credit to advance funds for military needs. An offer from Erlanger et Cie for a $25 million cotton loan arrived as credits overseas dwindled.
MENTIONED IN THIS ARTICLE
Confederacy
Zeary
Confedera’ Asury
Europe
Christopher G. Memminger
Memminger
United States
Germany
Charleston
S. C
Jefferson Davis
Treasury Post
Montgomery
Ala
Davis
Henry D. Capers
Capers
Erlanger
Sgimmick
England
France
Eranger Et Cie
London
Mississippi
Robert J. Walker
U. S. Secretary of Treasury
Loy
Lincoln
Walker
Chancellorsville
Gettysburg
Vicksburg
Erlangers
Mason
Paris
Erlanger Et Cie
Confed Cotton Bonds Deal Tangles with Erlangers
The Erlanger bank, seeking profit from a Confederate loan backed by cotton, arranged an 8 percent issue at 70, later 77, with bonds oversubscribed in Europe. Pressure from Secretary Benjamin, British figures like Gladstone, and Walker’s campaigns undermined the scheme. Bondholders lost as the Union won and cotton never delivered.
MENTIONED IN THIS ARTICLE
Erlanger
Judah P. Benjamin
Benjamin
Richmond
Confederate Congress
Gladstone
Europe
William E. Glad Stone
James M. Mason
Paris
U. S
Erlangers
Oldest Stars Found Point to Early Galaxy Life
Three ancient giants observed with the Palomar and Mt Wilson telescopes reveal atmospheres with traces of metals from earlier stars. They form in the first billion years after the Milky Way began, are 500 to 1,000 light years away, and contain only about four iron atoms per million hydrogen atoms. Researchers from Caltech Mt Wilson UC Rochester Michigan and others contributed.
MENTIONED IN THIS ARTICLE
Ralph Dighton
Pasadena
Calif
California Institute of Technology
Milky Way
Palomar Mountain
Mt. Wilson
California
Institute
Isaid
Ethel Kennedy Shines In Kennedys Circle Of Sport And Service
Mrs. Robert F. Kennedy, approaching her eighth child, is described as a lively Kennedy who participates in family campaigns sports and charity. The piece details her Swift energy from horseback to travel and politics, noting Hickory Hill in McLean Virginia as home and her role at public events.
MENTIONED IN THIS ARTICLE
Washington
Robert F. Kennedy
Kennedy
Ethel Skakel Kennedy
Robert Kennedys
Hickory Hill
McLean
President
Mrs. Kennedy
Ethel
Chicago
Greenwich
Asia
Europe
Sevens
Japan
Hawaii
Hyannis Port
Robert Kennedy
Senate
Bobby
Chinese Junk Bought By Two U.S. Families
ST LOUIS reports two American families, the Groses and the Reeses, own a Chinese junk. They ordered the vessel from a Hong Kong shipbuilder, shipped to New Orleans, barge to Paducah Kentucky, and sailed under its own power to Kentucky Lake for weekend sails.
MENTIONED IN THIS ARTICLE
ST. Louis
UPD
William Grosse
Terrill R. Rees Jr
Hong Kong
New Orleans
Paducah
Kentucky Lake
Elder Caucasus herdsman marks 130th birthday
Yusif Gasa nov, a collective farm shepherd, celebrated his 130th birthday in his Caucasus home, per Tass. His 105-year-old wife Telli is noted as one of the village’s best dairy maids.
MENTIONED IN THIS ARTICLE
Moscow
UPI
Yusif Gasa
Caucasus
Tass
Telli
Churchgoers Hear Mixed Service Across Denominations
In St Louis the Rev John Francis Sant of the Church of St Michael and St George preached between Lutheran service segments. The church’s speaker system repeated Lutheran broadcasts from KFUO Concordia Seminary, forcing Sant to pause as the Lutheran choir organ and minister were heard.
Lamp proves ancient find after lamp prank in England
Gardner Kerry, 24, who planted an Aladdin shaped lamp in a public flower bed to fool co workers learned the lamp was a 2,000 year old Roman artifact. An advertising note promotes a new rupture truss from Physician's Appliance Co offering a 30 day trial and a $3.50 gift for reports.
MENTIONED IN THIS ARTICLE
South Shields
England
UPI
Gardner Wallace Kerry
Also Mentioned on This Page
Rench Banking House
Napoleon III
Napoleon I
Thomas Jefferson
John Martin
Allen
Florida
Mass
Berkshire Hills
Sara Stadem
Minneapolis
Twin Cities
Northwest Airlines
Sara
Rochester
Minn
Natomacher
Seattle
Adv
America
Ray’s
T.V. Sales & Service
Jesse Greenstein
Robert Parker
Mt. Wilson and
Palomar Observatories
George Wallerstein
University of California
H.L. Helfer
University of Rochester
N.Y
L.H. Aller
Tthe
University of Michigan
The
Air Force Office of Scientific Research
Ethel Kennedy
Frances Lewine
Kennedys
Rugged
Olympic National Park
Furr’s Specials
Louisiana
Eterna Lye
College
Canton
U.S
Kansas City
Physician’s
Koch Bidg
Main
Missouri
Posture & Posse
Grace & Carriage
Southwest
West Texas
Robert Spence
Philadelphia
Ave. M
Lubbock
Frobert C Spence School
Robert Spence School
Ave
M. Lubbock
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