Letter from Governor A. B. Moore at the Executive Department in Montgomery, Alabama, to W. J. Norris, president of the Commercial Bank of Alabama in Selma, Alabama.
Item
Identifier
RSG00248_f11_Q0000135308_Q0000135310
Title
Letter from Governor A. B. Moore at the Executive Department in Montgomery, Alabama, to W. J. Norris, president of the Commercial Bank of Alabama in Selma, Alabama.
Rights
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Type
Text
Creator
Norris, W. J.
Date
1861 April 10
Description
The letter concerns the sale of state bonds.
Format
letter
Place
Montgomery (Ala.)
Publisher
Alabama Department of Archives and History. (electronic version)
Contributor
Kendall Raines
transcription
(Copy)
Executive Department Montgomery, Ala. April 10th 1861
Mr. W J Norris. Pres Commercial Bk of Ala Selma. Ala
Sir
I send by Col J. W. Echols forty seven state bonds of $100000 each, for which you will either give him the specie or furnish him Exchange on the Bank of Mobile, or the Southern Bank of Alabama, or on both of said Banks, as may best suit your Convenience.
I find that insurance from this place to Mobile is 1/4 of one per cent, and suppose it can not be more from Selma to Mobile.
If the Bank can furnish Checks upon either of said Banks ^at the cost of insurance it will have the privilege of doing so instead of sending the specie.
The act of the Legislature legalizing the suspension of specie payments, approved
Feby 2nd 1861, requires the Commercial Bank of Alabama to take in bonds of the state $106.400.00. The Bank under an ordinance of the Convention loaned to the state $58.823.35, which deducted from the above amount leaves $47.576.65. I therefore take only $47.000 at this time, hoping to be able to sell bonds enough to pay back the amount borrowed, being $58.823.35. If this can be done it will relieve the Bank of the necessity of furnishing the whole of the amount of $106.400.00 as required by the act of the Legislature. This, however, will be left an open question for the present.
Very Respectfully Your Obt Sert signed A. B. Moore.
Letter to Pres Com. Bank April 10th 1861
Executive Department Montgomery, Ala. April 10th 1861
Mr. W J Norris. Pres Commercial Bk of Ala Selma. Ala
Sir
I send by Col J. W. Echols forty seven state bonds of $100000 each, for which you will either give him the specie or furnish him Exchange on the Bank of Mobile, or the Southern Bank of Alabama, or on both of said Banks, as may best suit your Convenience.
I find that insurance from this place to Mobile is 1/4 of one per cent, and suppose it can not be more from Selma to Mobile.
If the Bank can furnish Checks upon either of said Banks ^at the cost of insurance it will have the privilege of doing so instead of sending the specie.
The act of the Legislature legalizing the suspension of specie payments, approved
Feby 2nd 1861, requires the Commercial Bank of Alabama to take in bonds of the state $106.400.00. The Bank under an ordinance of the Convention loaned to the state $58.823.35, which deducted from the above amount leaves $47.576.65. I therefore take only $47.000 at this time, hoping to be able to sell bonds enough to pay back the amount borrowed, being $58.823.35. If this can be done it will relieve the Bank of the necessity of furnishing the whole of the amount of $106.400.00 as required by the act of the Legislature. This, however, will be left an open question for the present.
Very Respectfully Your Obt Sert signed A. B. Moore.
Letter to Pres Com. Bank April 10th 1861
Subject
Moore, A. B. (Andrew Barry), 1807-1873;
Norris, W. J.;
Commercial Bank of Alabama (Selma, Ala.);
Governors--Alabama;
Alabama--Economic conditions;
Alabama--Politics and government--To 1865;
Banks and banking--Alabama;
State bonds--Alabama;
United States--History--Civil War, 1861-1865;
Selma (Ala.);
Dallas County (Ala.)
Norris, W. J.;
Commercial Bank of Alabama (Selma, Ala.);
Governors--Alabama;
Alabama--Economic conditions;
Alabama--Politics and government--To 1865;
Banks and banking--Alabama;
State bonds--Alabama;
United States--History--Civil War, 1861-1865;
Selma (Ala.);
Dallas County (Ala.)