Confederate money exchange

[albatrosdva]

I realize this is not strictly military but hope it is close enough to be allowed. William S. Wills was an 1860 graduate at the University of Richmond in Chemistry and Natural Philosophy. He subsequently went to UVA until his class left the school to enlist in 1862. He became a gunner in Carrington's Company of the Charlottesville Light Artillery which he remained until he was attached to the medical corps in the Spring of 1863(just in time for Gettysburg, not sure if that was good or bad luck, he had a busy few days). His brother was a pharmacist and he was studying to become one (with his background in chemistry he was practically there in those days). I've never seen a record exchanging blue backs to greenbacks. Do you all reckon he was paying for and smuggling medicine from the north? It's interesting to see the value decrease. On May 15, 1862, $29 Confederate brought $25.70 greenbacks. On Jan 28, 1863, $5.75 Confederate only brought $2.54 US. By April 1865 $3000 Confederate exchanged for $30 US.

[donaldnol]

as it stands now days real confederate money is valued more than federal currency

[snake36bravo]

No I dont think there was any smuggling of goods going on. It looks like his brother accepted Confederate and Union currency is all and did the conversions as needed for whatever items were being purchased as indicated by the ledger. Basically your standard opportunist making money both ways.

[albatrosdva]

5 minutes ago, snake36bravo said:

No I dont think there was any smuggling of goods going on. It looks like his brother accepted Confederate and Union currency is all and did the conversions as needed for whatever items were being purchased as indicated by the ledger. Basically your standard opportunist making money both ways.

I'm not saying he wasn't an opportunist as he was very exact with his brother's accounts over the years but I still don't get converting Confederate to US currency when both parties are in the south. I would totally understand it if William had been paid in US and was converting to Confederate. Of course it could be the practical side of business getting rid of Confederate money because you expect the value to drop but why fight for a cause already believed to be lost? That's what makes me wonder if they were somehow buying US goods and needed US dollars to pay for them.

[mikie]

There certainly were exchanges going on throughout the war.  Some of it was unofficially encouraged, but both sides, some of it was not.  I doubt if there were many Northerners willing to be paid in Confederate currency.  But I think Greenbacks heading South was not looked down on.  Civil War finances is an interesting area to learn about but I haven't studied it in many years.  

 

Mikie

[snake36bravo]

6 hours ago, albatrosdva said:

 why fight for a cause already believed to be lost? 

 

Plenty of nations and those serving in the ranks have done this throughout history. Its a really interesting piece of ephemera that's for sure for multiple reasons. Hard to say with 100% certainty what the intent was. I never knew Hickory was a cure for diarrhea or that a bottle of whiskey cost so much back then.