Papers Relating to Foreign Affairs, Accompanying the Annual Message of the President to the First Session Thirty-eighth Congress, Part I

Mr. Memminger to Messrs. Fraser, Trenholm & Co.

Treasury Department, C. S. A., Richmond, October 28, 1862.

Dear Sirs: You will please extend a credit to Major J. B. Ferguson to the extent of five hundred thousand dollars, and give him any assistance in your power to make his purchases for the Confederate States.

I have already informed you and Mr. Spence that I have on hand two and a half millions of dollars in coin, upon which drafts can be made, or which you are authorized to transfer to any parties who may furnish the means to make our purchases. This fund, or any amounts which may be realized upon our bonds will, I trust, enable you to meet the credit herein extended to Major Ferguson. in addition to that heretofore given

Respectfully, your obedient servant,

C. G. MEMMINGER, Secretary of the Treasury.

Messrs. Fraser, Trenholm & Co., Liverpool, Great Britain.