Letter from W. M. Smith, president of the Bank of Selma in Selma, Alabama, to Governor A. B. Moore.
Item
Identifier
RSG00248_f11_Q0000135290_Q0000135292
Title
Letter from W. M. Smith, president of the Bank of Selma in Selma, Alabama, to Governor A. B. Moore.
Rights
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Type
Text
Creator
Smith, Washington M.
Date
1861 March 28
Description
From the Alabama Department of Archives and History Governor A. B. Moore Collection. Letter from President W. M. Smith of Bank of Selma to Governor Moore. Smith describes Coosa & Tennessee Railroad treasury bill, inquires into purchasing more state bonds using Central or Commercial Bank notes, and reports Mr. Copeland, assistant quartermaster, for apparent misappropriation of state funds.
Format
letter
Place
Selma (Ala.)
Publisher
Alabama Department of Archives and History. (electronic version)
Contributor
Annika Myrup
transcription
Selma March 28th 1861
Hon A. B. Moore
Dear sir
S. K. Rayburn Prest. Coosa & Tenn. Rail Road brought showing of yours, that the Company upon a Certain Contingency Would be entitled to draw from the Treasury $40.000- Upon this Showing I discounted his bill on the Treasurer for $20.000 at 4 months At Maturity I shall desire more Bonds of Ala, Could you use about $50.000 of Central or Commercial, Without loss? If you can, then the law would be satisfied and we be Condition to purchase immediately more Bonds -
Mr. Owens, Clerk of Steamboat St Charles, told our Casheir that he saw a Mr, English pay pay to Mr. Copeland, quarter Master 1 1/2 pr cent for $1000 of the notes of the Bank of Selma. This doubless was part of the money I paid you for Bonds. I would inquire if Mr Copeland is authorized to speculate, and sell to those in search of gold, the Circulation of this Bank in the hands of the Treasurer, If he is so authorized and if the Treasury gets the benefit of the profits of the trade I would make no complaint
even though I might be able to Convince you that such a disposition of the fund was not Contemplated, and that it partakes more of the Stern principle of law, than of equity.
Neither Would I Complain if the Soldier is to get the benefit of the profit, but if Mr Copeland avails himself of his position to Speculate for his own benefit then I think that the Goverment as well as the Bank has serious Cause of Complaint.
I give you the facts as I received them with the hope that you may be able to explain the transaction
Yours truly
W. M. Smith Prest
W. M Smith Pres Bk Selma
Recd Mar 30th
Hon A. B. Moore
Dear sir
S. K. Rayburn Prest. Coosa & Tenn. Rail Road brought showing of yours, that the Company upon a Certain Contingency Would be entitled to draw from the Treasury $40.000- Upon this Showing I discounted his bill on the Treasurer for $20.000 at 4 months At Maturity I shall desire more Bonds of Ala, Could you use about $50.000 of Central or Commercial, Without loss? If you can, then the law would be satisfied and we be Condition to purchase immediately more Bonds -
Mr. Owens, Clerk of Steamboat St Charles, told our Casheir that he saw a Mr, English pay pay to Mr. Copeland, quarter Master 1 1/2 pr cent for $1000 of the notes of the Bank of Selma. This doubless was part of the money I paid you for Bonds. I would inquire if Mr Copeland is authorized to speculate, and sell to those in search of gold, the Circulation of this Bank in the hands of the Treasurer, If he is so authorized and if the Treasury gets the benefit of the profits of the trade I would make no complaint
even though I might be able to Convince you that such a disposition of the fund was not Contemplated, and that it partakes more of the Stern principle of law, than of equity.
Neither Would I Complain if the Soldier is to get the benefit of the profit, but if Mr Copeland avails himself of his position to Speculate for his own benefit then I think that the Goverment as well as the Bank has serious Cause of Complaint.
I give you the facts as I received them with the hope that you may be able to explain the transaction
Yours truly
W. M. Smith Prest
W. M Smith Pres Bk Selma
Recd Mar 30th
Subject
Moore, A. B. (Andrew Barry), 1807-1873;
Smith, Washington M.;
Bank of Selma (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.)
Smith, Washington M.;
Bank of Selma (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.)