MRS. BERNARD J. WARD COLLECTION
(Mss 324)
Inventory
Earl K. Long Library
University of New Orleans
January 2006
Summary
Size: 83 items
Geographic
locations: Confederate States of America; New Orleans and St. Martinville, Louisiana
Inclusive
dates: 1852-1865
Bulk dates: 1861-1864
Summary: Collection of receipts, treasury notes, and bonds issued chiefly by the Confederate States of America and by Louisiana companies. Also one issue of the St. Martinville (La.) Courier of the Teche (February 11, 1865), printed on wallpaper.
Related
collections: Francis C. Plough Collection (Mss 325)
Source: Gift, December 1984
Citation: Mrs. Bernard J. Ward Collection, Earl K. Long Library, University of New Orleans
Stack location: Vault
Access: Note that materials in this collection are available by appointment only.
Historical Note
“Paper Money of the Confederate States”
by Francis C. Plough
With the secession of South Carolina on December 20, 1860, “one and inseparable” was a union no longer. By February 9, 1861, when Jefferson Davis was elected president, seven states were members of the Confederacy, to be joined by six more by the end of the year. . . . Having very little hard money in circulation in the South, [and] losing the mint in New Orleans by blockade [in 1862], the Confederate government resorted to the printing of paper money on a well-developed and –planned system of issuance and redemption. The planters were requested to contribute a portion of their cotton crop for which they received bonds carrying a favorable rate of return. The government then issued currency in amounts which would be retired by the sale of the cotton abroad. It was estimated that the Treasury would receive in excess of one hundred million [dollars] a year from the sale of the cotton[,] which would enable the government to retire the bonds as well as the currency issued of a certain date.
The first issue, by act of March 9, 1861, was for a maximum of one million [dollars] in all denominations to be placed in circulation with a callable date of March 1, 1862, bearing interest at the rate of one cent per day per $100.00. A total of $2,021,100 was printed but never in circulation at one time. The first notes in denominations of $50.00 to $1,000.00 were dated from Montgomery, Alabama, the Confederate capital until May 24, 1861, when it was removed to Richmond. This issue is extremely rare and peculiar to the period. The notes were engraved and printed by the National Bank Note Company of New York, on Bank note paper and smuggled into the South. The notes do not carry patriotic designs,—quite the contrary, most vignettes appearing on Confederate bills were being used on bank notes in the north. The Confederate currency as it is referred to is really a misnomer for it wasn’t currency at all but interest-bearing paper money reflecting all the conditions required on a promissory note. Nonetheless, it was easily transferred from party to party for the payment of obligations and circulated as does our currency today. . . .
Printed under the same act, March 9, 1861, are the Richmond issues dated August and September, 1861, are the first notes printed for the Confederacy in the South. They were engraved and printed by the Southern Bank Note Co., actually, the American Bank Note Company branch, located in New Orleans. These notes were signed by Robert Tyler as Register and E. C. Elmore as Treasurer. Robert Tyler was the son of John Tyler, the tenth President of the United States. The first bill put into circulation from Richmond was the $50.00 with the picture of Industry and Agriculture seated on a cotton bale, with Justice standing at the left and the picture of Washington at the right.
The second issue, by act of May 16, 1861, authorized the issuance of $20,000,000.00 fundable in Confederate States stock bearing 8% interest and payable “2 years from date.” These notes were issued in denominations from $5.00 to $100.00, and were engraved by a number of private engravers. Probably the best known during the period was the firm of Hoyer & Ludwig who had been called upon to produce ad did produce many of the Confederate postage stamps. The firm smuggled both their engravers and paper from the Baltimore office and were deeply involved in government printing. The five-dollar bill reflects Liberty and eagle in the center and a sailor leaning on the capstan at lower left.
The ten-dollar bill is very much the same with the addition of the Confederate flag in the center and Commerce at the lower left in place of the sailor. There are forty minor varieties of this note.
The twenty-dollar bill has a picture of a three-masted sailing vessel in the center. There are fourteen varieties of this bill known. The fifty-dollar bill has a picture of Washington in the center and there are eight varieties of this bill plus the use of plain bonded, thin, and thick papers.
The one-hundred-dollar bill uses a central design of another pre-war Northern state bank design. This bill is known to exist in seven varieties.
The third issue, by act of August 19, 1861, was authorized to issue an amount not to exceed $100,000,000.00 outstanding at any one time, including the amount authorized under the former acts. This was supplemented by an additional $50,000,000.00 authorized by the act of December 24, 1861, a third act of April 18, 1862, increasing the total by an additional $50,000,000.00 without reserve plus $10,000,000.00 more as a reserve fund or a grand total of $210,000,000.00. (Note: An act passed on August 19, 1861, took cognizance of making and passing counterfeits—the penalty—DEATH.) The third issue reflects the high moral[e] of the South, the rout of the Union forces at the first battle of Bull Run on July 21, 1861, caused the statement on the notes to be changed to “six months after the ratification of a treaty of peace” instead of the old phrase two years after the ratification of a treaty, etc.
The fourth issue authorized by the act of April 17, 1862, contains several interesting features. Some of the $2.00 notes contain an earlier date, September 2, 1861. The error was quickly corrected, but some bills were placed in circulation and are very scarce items. The $100.00 notes reflect the rate of interest at two cents per day or double the 1861 issues. This was done in an attempt to reduce circulation, as these bills were primarily intended to be held as temporary investments.
Under the authorization, $165,000,000.00 of the $100.00 notes and $5,000,000.00 of the $1.00 and $2.00 notes were [to be issued]. This figure was revised by act of September 23, 1862, authorizing an additional $5,000,000.00 on $1.00 and $2.00 notes.
The fifth issue authorized by the act of October 13, 1862, was for $90,000,000.00 in treasury notes. All engraving was done by Keatings & Ball. The Confederate government enlisted the aid of one of the largest publishing houses in the South, Evans and Cogswell, to print the bills. The company’s office in Columbia, South Carolina, boasted 76 printing presses [and] 300 employees, of whom 74 were European.
In spite of the government’s desire to issue more bonds and reduce paper money in circulation, the people continued to demand more currency which caused further inflation. The act of March 31, 1863, clearly shows the government’s inability to stem the inflationary trend. The authorization was for bills in denominations of $5.00 to $100.00 to be issued in amounts not exceeding $50,000,000.00 monthly, plus a total of $15,000,000.00 of the 50¢, $1.00, and $2.00 notes. The Confederacy had not yet been defeated at Gettysburg and Vicksburg when this issue first appeared, but the pressure of the war, especially the blockage, was making itself felt.
The original plans of the government called for continual sale of cotton abroad for gold to retire both the currency and the bonds. The blockade was completely unexpected and proved to be a most effective weapon.
The act of April 6, 1863, stated that all earlier issues were to be withdrawn, but because of the demand and because the Confederate dollar was losing its value, many of the earlier notes were re-issued with only a revalidation stamp in red or black as a mark of authenticity.
Under the act of February 18, 1864, a new issue of notes was authorized which was printed in unlimited quantities (probably a billion dollars). All earlier issues were to be retired after being funded into bonds by certain dates, after which any remaining notes were to be taxed out of existence. By this time, the value of the Confederate dollar reached a new low and it didn’t matter much whether one redeemed his money or not. The new and old circulated side by side, one issue worth as much as the other.
The seventh issue was the last, but an eighth issue for $80,000,000.00 to pay the Army was authorized by Congress at its last meeting on March 18, 1865. The eighth issue was vetoed by President Davis, who felt that the 1864 issue was to replace older notes and to reduce circulation; and to authorize another would show, without a shadow of a doubt, that there was no limit to the issuance of treasury notes.
It is extremely difficult to determine how much currency was in circulation at one time. . . . At least $2 billions of all series were issued and moved about freely in circulation. By way of comparison, . . . worth 95¢ on the dollar in gold when first issued in 1861, Confederate currency dropped to 33¢ by 1863 and 1.6¢ by [Gen. Robert E. Lee’s surrender at] Appomattox, April 9, 1865. May 1, 1865, finds the last day of active trading in Confederate notes at an unbelievable ratio of 1200 to 1. By contrast, the Greenbacks of the North reached a low of 39¢ on the dollar in July, 1864.
Producing currency, and anything else that required paper, was hampered by its scarcity; indeed, according to Ersatz in the Confederacy: Shortages and Substitutes on the Southern Homefront by Mary Elizabeth Massey (Columbia: University of South Carolina Press, 1993, p. 139-141). the dearth of paper “was one of the most severe and far-reaching” wartime shortages. This lack was perhaps most evident in newspaper production as editors throughout the Confederacy reduced the size of their papers. When all else failed, they used any available sheets, including wallpaper. This collection contains a single issue of Le Courrier du Teche = The Courier of the Teche (February 11, 1865), which was published weekly at St. Martinville, La., from approximately 1849 to 1872.
The following bibliographical sources are referenced in the Container List:
Criswell, Grover. Confederate and Southern States Currency: A Descriptive Listing, Including Rarity and Prices. 2d rev. ed. Citra, Fla.: Criswell’s and Criswell’s Publications, 1976.
Poteat, Vance. CSA Notes: All Currency Issued by the Confederate States of America in 1861-1865.. [S.l.]: VEP Publishing, 2002.
Slabaugh, Arlie R. Confederate States Paper Money. Iola, Wis.: Krause Publications, 2000.
Series, Subseries, and Descriptions
Series I. Receipts, 1852-1853 6 items
Receipts for payments for ten shares of stock in the New Orleans, Opelousas & Great Western Railroad Company, purchased by Francis McMurray.
Series II. Checks, 1859-1861 2 items
Cashier’s checks drawn on New Orleans banks.
Series III. Treasury Notes, 1861-1864 69 items
Confederate treasury notes (currency); various denominations.
Subseries III.1. Louisiana Treasury Note
Subseries III.2. Confederate Treasury Notes
Series IV. Other Currency, 1862 3 items
Currency issued by the New Orleans & Bayou Sara Mail Company; various denominations.
Series V. Bonds, 1861-1862 2 items
One Confederate bond; one coupon clipped from another Confederate bond.
Series VI. Newspaper, 1865 1 item
Confederate newspaper printed on wallpaper. Single issue of Le Courrier du Teche = The Courier of the Teche (February 11, 1865). Vol. 16, No. 6.
Container List
BOX 1
Series I. Receipts, 1852-1853 6 items
Receipts for payments for ten shares of stock in the New Orleans, Opelousas & Great Western Railroad Company, purchased by Francis McMurray.
Office of N.O., Opelousas & Great Western R.R. Co. Receipts for payments for ten shares of stock purchased by Francis McMurray, [Account] No. 174. Each payment represented 10% of payment for ten shares of stock to which McMurray subscribed. Signed by J. H. Overton, President, and Benj. F. Flanders, Secretary. Printed by Picayune print, 66 Camp street. First five printed on pale green paper, sixth on white paper. Vignettes of flowers and train (locomotive, baggage car, passenger car) printed vertically at left.
324-1 October 23rd, 1852. Second installment, $25.00.
324-2 January 4th, 1853. Fourth installment, $25.00.
324-3 April 4th, 1853. Fifth installment, $25.00.
324-4 October 3rd, 1853. Sixth installment, $25.00.
324-5 January 2d, 1854. Seventh installment, $25.00.
324-6 April 3rd, 1854. Eighth installment, $25.00.
Series II. Checks, 1859-1861 2 items
Cashier’s checks drawn on New Orleans banks.
324-7 Bank of New-Orleans. New Orleans, February 26, 1859. Cashier’s Check, No. 307, to the Cashier of the Merchants Bank, Baltimore, $111. Pay to the Order of Mrs. Margaret Montgomery. Vignettes of Minerva, sailing ship, locomotive, pelican with young. Printed in green. Printed by Rawdon, Wright, Hatch & Edson, New Orleans.
324-8 Banking House of Benoist, Shaw & Co. New Orleans, February 5, 1861. Cashier’s Check, No. 1389, to [illegible], Baltimore, $74.20. Second Check, first unpaid. Pay to the Order of Mrs. Margaret Allen. Vignettes of Ceres, cotton bales, train, pelican with young. Printed by Rawdon, Wright, Hatch & Edson, New Orleans.
Series III. Treasury Notes, 1861-1864
Confederate treasury notes (currency); various denominations.
Subseries III.1. Louisiana Treasury Note 1 item
State of Louisiana. Twenty Dollars ($20.00). Shreveport, March 10th 1863. “Receivable for sales of public lands and for all public dues / Twelve months after a definitive treaty of peace between the Confederate States and the United States / Receivable for state, parish and municipal [remainder missing].” Engraved by B. Duncan, Columbia, S.C. Recto printed in red and black; bust of P. G. T. Beauregard; vignette of allegorical figure at lower right. Fancy blue reverse.
324-9 This copy not numbered. Torn, lower right corner missing.
Subseries III.2. Confederate Treasury Notes 68 items
Confederate States of America. Richmond, Va., July 25th, 1861. Payable two years after date. Various signatures for register and treasurer. “Receivable in payment of all dues except export dues. Fundable in Confederate States Stock bearing Eight per Cent interest.” Engraved by Hoyer & Ludwig, Richmond, Va. Printed in black on white paper.
One Hundred Dollars ($100.00). Ceres and Prosperine flying, bust of George Washington at lower left. 37,155 issued. Poteat 107. Criswell 7. Slabaugh 12.
324-10 Serial Letter C, No. 5890.
Fifty Dollars ($50.00). Bust of George Washington, vignette of Tellus at lower left. 123,564 issued. Poteat 108. Criswell 8. Slabaugh 11. 10 items.
324-11 Serial Letter B, No. 17616.
324-12 Serial Letter Bb, No. 18400.
324-13 Serial Letter Bb, No. 19321.
324-14 Serial Letter C, No. 3399.
324-15 Serial Letter C, No. 16529.
324-16 Serial Letter C, No. 17334.
324-17 Serial Letter C, No. 19486.
324-18 Serial Letter C, No. 19491.
324-19 Serial Letter C, No. 19494.
324-20 Serial Letter C, No. 27143.
Twenty Dollars ($20.00). Vignette of three-masted sailing ship. 264,998 issued. Poteat 109. Criswell 9. Slabaugh 10. 3 items.
324-21 Serial Letter C, No. 1708.
324-22 Serial Letter C, No. 6143.
324-23 Serial Letter D, No. 101105.
Ten Dollars ($10.00). Vignette of Liberty with eagle and shield bearing Confederate flag. 270,994 issued. Poteat 110. Criswell 10. Slabaugh 9.
324-24 Serial Letter A, No. 34447.
Five Dollars ($5.00). Vignettes of Liberty, sailor. 72,885 issued. Poteat 111. Criswell 11. Slabaugh 8.
324-25 Serial Letter Bb, No. [84014?].
Confederate States of America. Richmond, Va., September 2d, 1861. Payable “Six Months after the Ratification of a Treaty of Peace between the Confederate States and the United States.” Various signatures for register and treasurer. “Receivable in payment of all dues except export dues. Fundable in Confederate States Stock bearing Eight per Cent interest.” Engraved by Hoyer & Ludwig, Richmond, Va. Printed in black on white paper.
One Hundred Dollars ($100.00). Vignettes of slaves loading bales of cotton, sailor. 607,227 issued. Poteat 113. Criswell 13. Slabaugh 18. 26 items.
324-26 Serial Letter A, No. 10632.
324-27 Serial Letter A0, No. 2040.
324-28 Serial Letter A1, No. 7544.
324-29 Serial Letter A2, No. 5559.
324-30 Serial Letter A4, No. 10621.
324-31 Serial Letter A4, No. 23366.
324-32 Serial Letter A5, No. 29046.
324-33 Serial Letter A5, No. 29048.
324-34 Serial Letter A5, No. 29056.
324-35 Serial Letter A6, No. 6618.
324-36 Serial Letter A7, No. 24855.
324-37 Serial Letter A8, No. 20524.
324-38 Serial Letter A8, No. 20527.
324-39 Serial Letter AD, No. 16784.
324-40 Serial Letter AE, No. 6391.
324-41 Serial Letter AF, No. 11421.
324-42 Serial Letter AF, No. 17226.
324-43 Serial Letter AF, No. 20709.
324-44 Serial Letter AG, No. 4143.
324-45 Serial Letter AG, No. 16704.
324-46 Serial Letter AG, No. 22105.
324-47 Serial Letter AG, No. 22106.
324-48 Serial Letter AI, No. 5048.
324-49 Serial Letter C, No. 368.
324-50 Serial Letter C, No. 3781.
324-51 Serial Letter E, No. 3416.
Fifty Dollars ($50.00). Vignettes of Moneta seated with treasure chests, sailors. 470,600 issued. Poteat 114. Criswell 14. Slabaugh 17. 6 items.
324-52 Serial Letter A, No. 13380.
324-53 Serial Letter A2, No. 13998.
324-54 Serial Letter A4, No. 14170.
324-55 Serial Letter A14, No. 1548.
324-56 Serial Letter A14, No. 1559.
324-57 Serial Letter AD, No. 95774.
Twenty Dollars ($20.00). Vignettes of three-masted sailing ship, sailor at capstan. 2,366,743 issued. Poteat 118. Criswell 18. Slabaugh 21. 10 items.
324-58 Serial Letter A, No. 68379.
324-59 Serial Letter A20, No. 9353.
324-60 Serial Letter A20, No. 26342.
324-61 Serial Letter A24, No. 11007.
324-62 Serial Letter A25, No. 64333.
324-63 Serial Letter AB, No. 36941.
324-64 Serial Letter AC, No. 7365.
324-65 Serial Letter AD, No. 3478.
324-66 Serial Letter AF, No. 9018.
324-67 Serial Letter AG, No. 10670.
Confederate States of America. Richmond, September 2nd, 1861. Payable “Six months after the ratification of a Treaty of Peace between the Confederate States and the United States.” Signed by J. [Eliott?] for Register and T. V. Kelsee for Treasurer. “Fundable in 8 per cent stock or bonds.” Printed by Keatinge & Ball, Richmond, Va.
Twenty Dollars ($20.00). Bust of Jefferson Davis. Printed in black and green on white paper. 424,988 issued. Poteat 116. Criswell 16. Slabaugh 39.
324-68 No. 74.
Confederate States of America. Richmond, Va., September 2d, 1861. Payable “Six months after the ratification of a Treaty of Peace between the Confederate States & the United States.” Signed by C. C. Tharp for Register and J. [Noon?] for Treasurer. “Receivable in payment of all dues except export dues. Fundable in Confederate States Stock bearing Eight per Cent interest.” Engraved by Hoyer & Ludwig, Richmond, Va.”
Twenty Dollars ($20.00). Vignette of Ceres seated between Commerce and Navigation, with Liberty at lower left. Printed in black with green ornamentation on white paper. 43,732 issued. Poteat 117. Criswell 17. Slabaugh 16.
324-69 Serial Letter A, No. 36001.
Confederate States of America. Richmond, September 2, 1861. Payable “Six months after the ratification of a Treaty of Peace between the Confederate States and the United States.” Signed by E. H. Smith for Register and G. C. Gale for Treasurer. “Receivable in payment of all dues except export dues. Fundable in eight per cent stock or bonds of the Confederate States.” Engraved by B. Duncan, Richmond.
Twenty Dollars ($20.00). Vignettes of Industry seated between Cupid and beehive, bust of A. H. Stevens, allegorical figure. Printed in black on white paper. 2,834,520 issued. Poteat 120. Criswell 20. Slabaugh 30.
324-70 3 Series 7, No. 8366.
Confederate States of America. Richmond, September 2, 1861. Payable “Six Months after the Ratification of a Treaty of peace between the Confederate States and the United States.” Signed by [Louis?] Nott for Register and J. B. Dimitry for Treasurer. “Receivable in payment of all dues except export dues. Fundable in Confederate States stock bearing eight per cent interest.” Engraved by J. T. Paterson & Co., Columbia, S.C.
Twenty Dollars ($20.00). Vignettes of Commerce seated on bale of cotton, sailor at capstan. Printed in black on white paper. 4,604,890 issued. Poteat 136. Criswell 36. Slabaugh 27.
324-71 Second Series, No. 83713.
Confederate States of America. Richmond, June 2, 1862. Payable “Six Months after the Ratification of a Treaty of peace between the Confederate States and the United States.” Various signatures for register and treasurer. “Receivable in payment of all dues except export dues. Fundable in eight per cent interest stock or bonds of the Confederate States of America.” Engraved by B. Duncan, Columbia, S.C.
Two Dollars ($2.00). Vignette of personification of South striking down the Union, bust of J. P. Benjamin at upper left. 1,749,000 issued. Poteat 204. Criswell 42. Slabaugh 45.
324-72 Third Series 2, No. 30670.
324-73 Third Series 11, No. 27972.
Confederate States of America. Richmond, December 2nd, 1862. Payable “Six Months after the Ratification of a Treaty of Peace between the Confederate States & the United States.” Signed by H. J. Cooke for Register and [illegible] for Treasurer. Printed by Keatinge & Ball, Columbia, S.C.
Twenty Dollars ($20.00). Bust of Lucy Holcombe Pickens, vignette of Confederate soldiers at lower left, bust of R. M. T. Hunter at lower right. Printed in black on white paper. Fancy green reverse. 609,040 issued. Poteat 209. Criswell 49. Slabaugh 56.
324-74 Serial Letter B, No. 70866.
Confederate States of America. Richmond, December 2nd, 1862. Payable “Six Months after the Ratification of a Treaty of Peace between the Confederate States & the United States.” Signed by W. T. Lyon for Register and M. Allen for Treasurer. “Receivable in payment of all dues except export duties. Fundable in stocks or bonds of the Confederate States.” Printed by Evans & Cogswell.
Five Dollars ($5.00). Vignette of Confederate Capitol at Richmond, Va.; bust of C. G. Memminger at lower right. Printed in black on pink paper. Fancy blue reverse. 2,833,600 issued. Poteat 213. Criswell 53. Slabaugh 52.
324-75 2nd Series, Serial Letter E, No. 1213160.
Confederate States of America. Richmond, April 6th, 1863. Payable “Two Years after the Ratification of a Treaty of Peace between the Confederate States & the United States.” Signed by F. E. Jones for Register and H. N. Douglass for Treasurer. “Receivable in payment of all dues except export duties. Fundable in stocks or bonds of the Confederate States.” Lithographed by J. T. Paterson & Co. Engraved by Keatinge & Ball, Columbia, S.C.
Five Dollars ($5.00). Vignette of Confederate Capitol at Richmond, Va.; bust of C. G. Memminger at lower right. Printed in black on white paper. Fancy blue reverse. 7,745,600 issued. Poteat 305. Criswell 60. Slabaugh 60.
324-76 1st Series, Serial Letter B, No. 73208.
Confederate States of America. Richmond, February 17th, 1864. Payable “Two Years after the Ratification of a Treaty of Peace between the Confederate States and the United States.” Signed by C. Neal for Register and M. Coopers for Treasurer. “Receivable in payment of all dues except export duties. Fundable in stocks or bonds of the Confederate States.” Lithographed by J. T. Paterson & Co. Engraved by Keatinge & Ball, Columbia, S.C.
One Hundred Dollars ($100.00). Bust of Lucy Pickens, vignette of two soldiers at lower left, bust of George W. Randolph at lower right. Printed in black on reddish network background. Pasted on paper, obscuring intricate blue reverse. 896,644 issued. Poteat 402. Criswell 65. Slabaugh 72.
324-77 No series, No. 82893.
Series IV. Other Currency, 1862 3 items
New Orleans & Bayou Sara Mail Company. Note payable on demand. Various signatures. Printed on reverse of an unused form.
Three Dollars ($3.00). Vignettes of steamboat, pelican feeding her young, bales of cotton on a dock.
324-78 January 2, 1862. No. 573.
One Dollar ($1.00). Vignettes of steamboat, allegorical figure. Printed by Douglas Eng., N. Orleans.
324-79 January 4, 1862. No. 8193.
Fifty Cents ($0.50). Vignettes of steamboat, allegorical figure. Printed by Douglas Eng., N. Orleans.
324-80 January 4, 1862. No. 8096.
Series V. Bonds, 1861-1862 2 items
BOX 2
324-82 Confederate States of America. Loan. Bond No. 120 in the amount of $500.00 payable July 1, 1872. Dated March 31, 1862. Printed by B. Duncan, Richmond. Nineteen of twenty coupons attached, each for twenty dollars for six months’ interest due July 1, 1864, and signed by G. E. Dalney for the Register of the Treasury.
Series VI. Newspaper, 1865 1 item
324-83 Issue of Le Courrier du Teche = The Courier of the Teche (February 11, 1865). Vol. 16, No. 6. Published weekly at St. Martinville, La. Printed on the reverse of wallpaper, patterned in bright blue and white.
Index Terms
Confederate imprints
Confederate States of America
Currency
Newspapers—Southern
St. Martinville, La.
Treasury notes