(CIVIL WAR) MCCULLOCH HUGH Letter Signed as Secretary of the

Sale 2043 - Lot 60

Price Realized: $ 748

?Final Price Realized includes Buyer’s Premium added to Hammer Price

Estimate: $ 300 - $ 400

(CIVIL WAR.) MCCULLOCH, HUGH. Letter Signed, as Secretary of the Treasury, to Edward Atkinson, on the amount of cotton in the South and the government's plan to seize and sell a portion of the holdings of the insurrectionary states. 11/4 pages; folded small 4to sheet, mourning stationery; minor separations at folds. Washington, 3 May 1865

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". . . I do not believe there are two millions of bales of cotton in the Southern States and question very much whether more than one million of bales now in those States will ever be brought to market. We are endeavoring to relieve the trade as far as possible from all unnecessary restrictions and burthens. Hereafter we propose to take for the Government one quarter of what may be offered for sale, and to release the balance from all duties. In other words we propose, after buying the products of the insurrectionary States, to sell to those from whom we have purchased three quarters thereof at what we have paid for the whole, and relieve the three quarters from all excise duties and fees . . ."