- 683
Benjamin, Judah Philip
Description
- paper
Catalogue Note
Payment for arms with U.S. bonds. In his position as Secretary of War, Benjamin informs his correspondent he has employed one G. H. Giddings of Texas as its agent for the purchase of arms. He then explains: 'The object of this letter is to inform you that if you will make use of the U.S. bonds in your possession in the purchase of arms to be approved of by Mr. Giddings and at prices satisfactory to him, this government will receive the arms from you at cost and charges, and pay for them in its own 8% bonds." Benjamin further explains that by this arrangement, "you will succeed in exchanging your U.S. bonds, now useless and bearing only 6%, for the bonds of the Confederate States bearing interest at 8%, and receive the interest regularly and punctually." Benjamin closes his letter to Governor Lubbock with hope this arrangement will be consistent with his sense of public duty.