|NaN.||Rufus Saxton, who later in the year became military governor of the Department of the South. Appletons', 5:410.|
|NaN.||Montgomery C. Meigs.|
|NaN.||As a private in the Massachusetts Third Regiment, Edward L. Pierce shared responsibility for "contraband" slaves at Fortress Monroe, Va., accepted into Federal service by Benjamin F. Butler during the summer of 1861. [ Edward L. Pierce ], "The Contrabands at Fortress Monroe," Atlantic Monthly 8 ( Nov. 1861): 626-40.|
|NaN.||Lincoln's initial call for 75,000 militia, issued on April 15, 1861. OR, set. 3, v. 1:67-68.|
Letter in clerk's hand, signed by Chase. BV John Austin Stevens, The New-York Historical Society (micro 19:0043).
Washington, January 17th., 1862.
My dear Sir--
In my July Report,1 I proposed the issue of 3.65 Notes, convertible into 7.30s. It was my purpose to resort to this issue, in connection with Demand Notes, whenever it became impossible to obtain Loans at reasonable rates.2
The gentlemen recently here, representing various Banks in New- York, Philadelphia and Boston, proposed the issue of 6 per cent notes, and the sale of 7 per cent Bonds, at any price which could be obtained in the open market. Neither the Committees of Congress nor myself were able to give our assent to this plan.
After much conference, however, I said to some of these gentlemen that I was willing to limit the issue of Demand Notes to Fifty Millions, and to issue 3.65 Notes, convertible into 7.30s., in payment to public creditors, provided the Banks would receive and pay them out, and thus aid in sustaining the public credit. I was glad to find many of the gentlemen connected with the Banks willing to modify their views, as first expressed, so far as to accede to this proposition. Accordingly a statement was drawn up of the points of agreement, to which currency was given through the Associated Press.3 I did not doubt that this arrangement would meet your sanction, and I beleived that, if cordially sustained, it would issue in a satisfactory arrangement both of Currency and Loans.
I regret to find that Boston Banks do not, as yet, accede to it, and I am ignorant how far it meets general approbation in New-York and