Letter from Governor A. B. Moore at the Executive Department in Montgomery, Alabama, to Colonel Edmund Harrison in Montgomery, Alabama.
Item
Identifier
RSG00248_f11_Q0000135277
Title
Letter from Governor A. B. Moore at the Executive Department in Montgomery, Alabama, to Colonel Edmund Harrison in Montgomery, Alabama.
Rights
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Type
Text
Creator
Moore, Andrew B. (Andrew Barry), 1807-1873.
Date
1861 March 21
Description
Governor Moore was demanding that 2 $1000 bonds be delivered to the Southern Bank of Alabama and the Bank of Mobile to repay advances and negotiate further funding
Format
letter
Publisher
Alabama Department of Archives and History. (electronic version)
transcription
(copy)
Ex. Department Montgy Ala Mar 21st 1861-
Col Edmund Harrison Montgomery Ala.
Sir.
The two hundred bonds of one thousand dollars each placed in your hands ordered to be issued by the legislature of Alabama you will dispose of as follows -
You will deliver to the Southern Bank of Alabama at Mobile and to the Bank of Mobile fifty each in payment of fifty thousand dollars advanced by each of said Banks to the state of Alabama, with the understanding that if desired by said Banks said bonds may be exchanged for the same amount of bonds now in preparation payable at Mobile as to principal and interest, the interest being made payable semi-annually instead of annually.
You are also authorized & empowered to negotiate with said Banks for fifty thousand dollars each and deposit fifty thousand dollars of bonds with each to be exchanged if said Banks or either of them so desire, for bonds payable in Mobile as to principal and interest, the interest payable semi-annually so soon as the bonds Can be prepared.
You are for this authorized to ascertaine from said Banks what further amount of bonds they are willing to purchase. The state necessities make it important to procure at least one hundred thousand dollars in addition to the amount of bonds sent by you.
The interest on the amount heretofore advanced by the Banks must be paid. If the bonds can not be so arranged as to pay the interest with the bonds the state will pay it in cash. Under the law it will be necessary to have in exchange for the bonds either specie or the bills of specie paying Banks which are equivalent to specie. As both of said Banks are paying specie for their notes, they will be received for the bonds of he state.
Let any amount that may be taken for the bonds be deposited in said Banks to the Credit of D B Graham Treasurer of the state of Alabama. It is not probable that any portion of it will be required at Montgomery.
Very Respectfully signed A B Moore Gov of Ala
Copy of instructions to [?] E Harrison
Ex. Department Montgy Ala Mar 21st 1861-
Col Edmund Harrison Montgomery Ala.
Sir.
The two hundred bonds of one thousand dollars each placed in your hands ordered to be issued by the legislature of Alabama you will dispose of as follows -
You will deliver to the Southern Bank of Alabama at Mobile and to the Bank of Mobile fifty each in payment of fifty thousand dollars advanced by each of said Banks to the state of Alabama, with the understanding that if desired by said Banks said bonds may be exchanged for the same amount of bonds now in preparation payable at Mobile as to principal and interest, the interest being made payable semi-annually instead of annually.
You are also authorized & empowered to negotiate with said Banks for fifty thousand dollars each and deposit fifty thousand dollars of bonds with each to be exchanged if said Banks or either of them so desire, for bonds payable in Mobile as to principal and interest, the interest payable semi-annually so soon as the bonds Can be prepared.
You are for this authorized to ascertaine from said Banks what further amount of bonds they are willing to purchase. The state necessities make it important to procure at least one hundred thousand dollars in addition to the amount of bonds sent by you.
The interest on the amount heretofore advanced by the Banks must be paid. If the bonds can not be so arranged as to pay the interest with the bonds the state will pay it in cash. Under the law it will be necessary to have in exchange for the bonds either specie or the bills of specie paying Banks which are equivalent to specie. As both of said Banks are paying specie for their notes, they will be received for the bonds of he state.
Let any amount that may be taken for the bonds be deposited in said Banks to the Credit of D B Graham Treasurer of the state of Alabama. It is not probable that any portion of it will be required at Montgomery.
Very Respectfully signed A B Moore Gov of Ala
Copy of instructions to [?] E Harrison
Subject
Harrison, Edumund Moore, A. B. (Andrew Barry), 1807-1873 Bank of Mobile (Mobile, Ala.) Southern Bank of Alabama Govenors--Alabama Alabama--Economic conditions Alabama--Politics and government--To 1865 Banks and banking--Alabama State bonds--Alabama United States--History--Civil War, 1861-1865 Mobile (Ala.) Mobile County (Ala.) Montgomery (Ala.) Montgomery County (Ala.)