Mr. Memminger advertises to pay interest on certain government
bonds in specie. That won't last long. He is paying 50 per cent. premium
in treasury notes for the specie, and the bonds are given for treasury notes.
What sort of financiering is this?
SOURCE: John Beauchamp Jones, A Rebel War Clerk's
Diary at the Confederate States Capital, Volume 1, p. 106
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