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Problems with Confederate Money in Mobile

Posted by: James on Mar 05, 2004 - 08:08 PM
 
Problems with Confederate Money in Mobile
. . . There are black spots in the State where Confederate money will not purchase the necessaries of life--_____ county is o­ne point.  This county has chosen to establish a currency heretofore unknown—the thread currency.  I will attempt to describe its operation.  The cotton factory at Tuscaloosa is the treasury and issuer of these thread notes.  About 50 bundles of cotton thread are here manufactured daily, and every other day a sale and distribution takes place, when 50 bundles or so are sold out to the greedy customers.  The distribution is now going o­n at that brick building where the Yankee prisoners were confined, and where you now view such a melange of carriages, horsemen and pedestrians.  Let us step into the crowd which bests the window.  The rich and poor are commingled.  The sewing woman is elbowing her way with the rich lady and the wife of the member of Congress.  The latter patiently exclaims, "I have waited here during three distributions and have been refused the poor pittance of a bundle."
                The wealthy lady stoops from her carriage and directs her escort to tell Mr. Kirkman that Mrs. Richenoughtobuyyou desires a bundle as she returns at o­nce to the country.  But the distribution is made by honest citizens, and if partiality is displayed it is not observable.  During much wrangling and dispute the fifty bundles are sold, the country people having the preference, at ten dollars the large or five dollars the small bundle, and the crowd of a hundred or so of unsuccessful persons disperse to try for better success upon the ensuing distribution day.  And why so eager for thread?  It is the currency of the country, and that thread seller is de facto the banker.
                You will now see the sequel.  Here is a country wagon laden with vegetables and chickens calling at every house.  The huckster and the lady of the house converse together and thread is the o­nly currency that will be taken.  A dollar per pound is asked for butter, half as much again is offered in Confederate money and refused.  The next housekeeper is more successful.  "How do you sell butter?"  Dollar a pound for thread.  "I'll give you six hanks of it for as many pounds of butter."   The offer is eagerly accepted, and the lady is content with her bargain, for a $10 bundle of thread contains 24 hanks which is good for as many pounds of butter, placing the latter at 40 cents per pound.  Such is the origin and operation of our thread currency.  To keep your table supplied you must present yourself at the thread distribution and continue to do so until successful, and then you have the panacea for all wants.        N'Importe. 
MOBILE REGISTER AND ADVERTISER, August 1, 1863
http://www.uttyl.edu/vbettsNote: "The cotton factory at Tuscaloosa is the treasury and issuer of these thread notes.  About 50 bundles of cotton thread are here manufactured daily, and every other day a sale and distribution takes place, when 50 bundles or so are sold out to the greedy customers. "

  
  

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