Old Bookaroo
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Yarns about lost Confederate gold, “the treasure train,” the stolen Confederate Treasury, etc., have been circulating since April 1865. Secretary of War Stanton wanted the Union army to find Jefferson Davis when he fled south from Richmond, supposed to be carrying $3 Million to $5 Million in gold. The Union generals were more concerned with ending the War.
As is true with almost any war, some money was plundered. And most of that promptly spent. Probably there are small plants here and there waiting to be found. The collector value of the “specie” (coin – in the 19[SUP]th[/SUP] Century generally gold) would be great.
And so are the odds against finding it.
The story is well documented. There is a vast amount of information available on the American Civil War. I have read a book has been published for every day since April 1865. I haven’t counted – but I sure know there are a lot of them out there. Then there are the Official Records of the Union and Confederate armies – all 129 volumes.
After Appomattox the Second War started – for decades veterans fought it out in newspaper and magazine articles, and vitriolic letters to each other. Recriminations, blame, disputes, political grudges and the rest flew thick and fast. You can find an excellent example below – Varina Davis, wife of Jefferson, objected to Gen. Johnston’s account of what happened to some of the Confederate Treasury.
For the serious treasure hunter there are some important considerations. The first is obvious – how much was lost and remains to be found? The simple truth is that the Confederate States of America was broke. It spent every dime it could lay its hands on to fight the War. Look at what happened to the more than one million dollars (remember – this is the 1860’s!) taken from the banks in New Orleans. And look at the enormous debt left not only by the CSA but by the individual states at the conclusion of hostilities.
Another aspect of the story which isn’t given due consideration is the honor and integrity of those involved in moving the Confederate Treasury. Politics aside, the military officers took their duty very seriously and, in the words of the famous quote, “You’re Southern gentlemen, not highway robbers.” Note how even as the government collapsed, many officers demanded receipts when the gold changed hands.
It is a very entertaining part of American history. To help the serious students, here is an annotated bibliography of sources to get you started.
Lost Confederate Gold – A Brief Annotated Bibliography
It all begins with A.J. Hanna’s Flight into Oblivion (1938). “…the only previous work on the pursuit of David and his Cabinet, won a devoted readership over the years…Although the narrative by the late Alfred J. Hanna is rather limited…its underlying research was an invaluable guide in the composition of this account…The originality, charm and generally sound background of Hanna’s book make it of enduring interest to readers and scholars alike.” – Burke Davis.
Hanna also wrote The Confederate Baggage and Treasure Train Ends its Flight in Florida; the Diary of Tench Francis Tilghman, Florida Historical Society Quarterly, January 1939 – and reprinted as a separate pamphlet. This supplements his book, above.
Not only first in alphabetical order but first in importance in the ranks of magazine articles is Otis Ashmore’s The Story of the Confederate Treasure, The Georgia Historical Quarterly, Vol. 2, No. 3 (SEPTEMBER, 1918) - Burke Davis wrote “It is unlikely that a completely satisfactory account of the fate of the Confederate treasure will be written. Otis Ashmore’s…accepted as the most reliable, does not include the scene of the looting of the money wagons."
Somehow Burke Davis seems to have missed Mr. Ashmore’s companion article The Story of the Virginia Bank Funds; A Dramatic Episode of the War Between the States, The Georgia Historical Quarterly Vol. 2, No. 4 (DECEMBER, 1918). It is recommended, as well.The last days of the Confederate Treasury and what became of its specie, by Captain M. H. Clark - Southern Historical Society Papers, Volume 9, Reverend J. William Jones, Ed.
Both sections were traveling in the same financial rut; but the Southern money traveled downward the faster. The soldiers jingling their silver dollars on every road told the tale of the disbursement of the little Treasury, and I found on my return the wildest rumors through the country as to the amount it had contained. Five million dollars was the smallest amount mentioned.
Federal detectives were swarming along the route we had traveled, hunting papers, the Treasury and “the last man who had it in charge,” “for an immense amount must have been secreted somewhere; $5,000,000 to $15,000,000 could not vanish in the air in a day.”
But the undersigned wasn't eager to make new acquaintances, and wasn't then signing himself “Acting Treasurer, C. S.” An impression has prevailed with some that on that last day great demoralization, confusion and panic existed. Such was not so. The soldiers were orderly, and though the town was filled with men under no command, there was no rioting or violence, though the citizens feared something of the kind.
Southern Historical Society Papers, Volume 9., The last days of the Confederate Treasury and what became of its specie. – Retrieved October 19, 2013.
Burke Davis, The Long Surrender (New York: 1985) – Second only to A.J. Hanna’s classic contribution to the literature. This was the second book published on the flight of Jefferson Davis in April 1865. It has a great deal about the treasure train, and detailed notes and bibliography.
Robert S. Davis, "The Georgia Odyssey of the Confederate Gold," Georgia Historical Quarterly 86 (2002): 569-86.
Varina Davis, Jefferson Davis: Ex-President of the Confederate States of America, Memoir by his Wife, Volume 2 (1890)
William C. Davis, An Honorable Defeat; The Last Days of the Confederate Government (2001) – A detailed account of the events surround the end of the Civil War – including the fate of the “treasure train.”
Basil W. Duke, After the Fall of Richmond, The Southern Bivouac. Volume II. AUGUST, 1886. Number 3. – One of the foundation accounts from the Confederate officer responsible for the “treasure train.”
Douglas Gibboney, Bested at Berryville; A Broken Wagon Train and a Missing Gold Mystery, Civil War Times Illustrated, December 1985 (Volume XXIV, Number 8) – Mosby’s raid and the legend of a missing $100,000 Union army payroll.
J[ohn] B. Jones, A Rebel War Clerk’s Diary at the Confederate States Capital (1866) – Two volumes.
April 28[SUP]th[/SUP] [1864] – By a correspondence between the Secretaries o fthe Treasury and War, I saw that Mr. Memminger has about a million and a quarter in coin at Macon, Ga., seized as the property of the New Orleans banks – perhaps belonging to Northern men. I believe it was taken when there was an attempt made to smuggle it North. What it is proposed to do with it I know not, but I think neither the President nor the Secretaries will hesitate to use it – if there be a “military necessity.” Who knows but that one or more members of Mr. Lincoln’s cabinet, or his generals, might be purchased with gold? Fortress Monroe would be cheap at that price!
May 17[SUP]th[/SUP] [1864] – Some of the idle military officers, always found about the departments, look grave, and do not hesitate to express some apprehension of the success of Grant in forcing Lee back, and spreading over all Northern and Northwestern Virginia. The Secretary of War is much secluded, and I see by a correspondence between him and the Secretary of the Treasury, relating to the million and three-quarters in coin, belonging to the New Orleans banks, that the Secretary of the Treasury can make no “valid objection to the proposition of the Secretary of War.” I do not understand what disposition they propose to make of it.
General Joseph E. Johnston, Narrative of Military Operations During the Civil War (1874)
Hans Kuenzi, The Search for Lost Confederate Gold - The Cleveland Civil War Roundtable
“…historical research has determined only $70,000 of the gold belonging to the banks in Richmond is missing, but not lost, as it was accounted for in the robbery during its shipment back to Richmond. What remained of the Confederate treasury, in the form of gold and other valuable coins, was disbursed as payroll to Confederate troops during its transport south. By the end of the war, nothing remained in the coffers of the Confederate treasury except for its incalculable amount of debt.”
DAVIS' FLIGHT.; Particulars of His Course After Lee's Surrender. How He Gathered a Body Guard and Carried Off the Specie. His Men Become Uneasy and Clamor for Pay. He Encourages Them with Patriotic Speeches. Talk will Not Do and the Money Bags are Opened. Nearly All His Guard Leave Him and March West. Breckinridge and Other Leaders Probably Across the Mississippi.
Special Dispatch to the New-York Times. Published: May 20, 1865
Publications of the Southern History Association – January, March and May 1901 “History of the Confederate Treasury” – A very important three part series because it details the operations of the Confederate Treasury. Before it could be lost, the money had to be there in the first place. This is a tough slog – it’s detailed economics – facts and figures. It makes it very clear to me how little money remained in the Confederate Treasury at the end of the War.
Publications of the Southern History Association
Alfred Roman, The Military Operations of General Beauregard in the War Between the States, 1861 to 1865, Including a Brief Personal Sketch and a Narrative of His Service in the War with Mexico, 1846-8 (New York: 1884)
About this period a remarkable occurrence took place which is worthy of note. When New Orleans was about to be evacuated, in April, 1862, the civil and military authorities advised the banks and insurance companies to put their funds in security beyond the reach of the enemy. They nearly all did so, and, among them, the wealthiest o fall, namely, the “Bank of Louisiana,” which sent its assets, most of gold and silver, to the extent of some three millions of dollars, via Mobile, to Columbus, Georgia, under the care of its president. These funds were given in charge by him to Mr. W. H. Young, President of the Bank of Columbus, Georgia, with the belief that they would there be perfectly safe. To General Beauregard’s surprise, on the 11[SUP]th[/SUP] of October the following telegram was forwarded to him from Richmond:
“Take possession of the coin of the Bank of Louisiana, in the hands of W.H. Young, President of the Bank of Columbus, Ga., and place it in the hands of John Boston, the depositary of the Government, at Savannah. A written order will be sent immediately, but don’t wait for it.
“G.W. Randolph, Secy. Of War.”
Without loss of time, though very reluctantly, General Beauregard sent an officer of his staff, Colonel A.G. Rice, Vol. A.D.C., to execute this disagreeable order. On the 14[SUP]th[/SUP], from Columbus, Colonel Rice telegraphed as follows:
“To Genl. T.Jordan, A.A.G.:
“Mr. Young, under instruction from Mr. Memmingger, dated 9[SUP]th[/SUP] of June, refuses to give up the coin. He has telegraphed to Richmond. No reply yet.
“A.G. Rice, A.D.C.”
Forcible possession, however, was taken of the coin; and the Secretary of War, when applied to for further instruction, ordered that, inasmuch as Mr. Young had been “appointed a depositary” by Mr. Boston, “the money be left in the hands of the former, upon his consenting to receipt for it as the depositary of the Treasury Department.” * [*: See telegrams, in Appendix] This Mr. Young declined to do; and thereupon General Beauregard was ordered by the Secretary of War to turn over the coin to Mr. T.S. Metcalf, Government depositary at Augusta, Georgia; which was done, Colonel Rice taking triplicate receipts, one for the Secretary of War, one for General Beauregard’s files, and one for himself.
This was the property belonging to citizens of Louisiana, who were then despoiled by the enemy, in possession of their State, taken away from them by the Government of the Confederate States, from which they had a right to claim protection. What became of that coin is, we believe, even to this day, a mystery. It was, doubtless, spent for the benefit of the Confederacy; but how, and to what purpose – not have been regularly appropriated by Congress – has never been made known to the South, especially to the stockholders and depositors of the “Bank of Louisiana.” That institution was utterly ruined by the seizure of its most valuable assets, thus arbitrarily taken from it. It would have been more equitable to lease this coin untouched, or, if not, to take no greater proportion of it than of the coin of all the other banks in the Confederacy.
https://play.google.com/books/reade...sec=frontcover&output=reader&hl=en&pg=GBS.PR1
James L. Swanson, Bloody Crimes; the Funeral of Abraham Lincoln and the Chase of Jefferson Davis (2010) – Discusses the “Confederate Treasury gold rumors.”
The Confederate Treasure— Statement of Paymaster John F. Wheless. Southern Historical Society Papers, Volume 10. Reverend J. William Jones, Ed.
Southern Historical Society Papers, Volume 10., The Confederate treasure-statement of <a target="_blank" onclick="openPopupWindow(this); return false" href="entityvote?doc=Perseus:text:1999.01.0001&auth=wheless,john,f.&n=1&type=person">Paymaster John
Jay Winik, April 1865; The Month that Saved America (2001) – An important account of the end of the Civil War and its aftermath. It doesn’t deal with the fate of the Confederate Treasury – rather it is the story of how the Union was saved after the War. As we know from reading history, it is one thing to “win” the war. It can be quite another to win the peace.
Good luck to all,
The Old Bookaroo
As is true with almost any war, some money was plundered. And most of that promptly spent. Probably there are small plants here and there waiting to be found. The collector value of the “specie” (coin – in the 19[SUP]th[/SUP] Century generally gold) would be great.
And so are the odds against finding it.
The story is well documented. There is a vast amount of information available on the American Civil War. I have read a book has been published for every day since April 1865. I haven’t counted – but I sure know there are a lot of them out there. Then there are the Official Records of the Union and Confederate armies – all 129 volumes.
After Appomattox the Second War started – for decades veterans fought it out in newspaper and magazine articles, and vitriolic letters to each other. Recriminations, blame, disputes, political grudges and the rest flew thick and fast. You can find an excellent example below – Varina Davis, wife of Jefferson, objected to Gen. Johnston’s account of what happened to some of the Confederate Treasury.
For the serious treasure hunter there are some important considerations. The first is obvious – how much was lost and remains to be found? The simple truth is that the Confederate States of America was broke. It spent every dime it could lay its hands on to fight the War. Look at what happened to the more than one million dollars (remember – this is the 1860’s!) taken from the banks in New Orleans. And look at the enormous debt left not only by the CSA but by the individual states at the conclusion of hostilities.
Another aspect of the story which isn’t given due consideration is the honor and integrity of those involved in moving the Confederate Treasury. Politics aside, the military officers took their duty very seriously and, in the words of the famous quote, “You’re Southern gentlemen, not highway robbers.” Note how even as the government collapsed, many officers demanded receipts when the gold changed hands.
It is a very entertaining part of American history. To help the serious students, here is an annotated bibliography of sources to get you started.
Lost Confederate Gold – A Brief Annotated Bibliography
It all begins with A.J. Hanna’s Flight into Oblivion (1938). “…the only previous work on the pursuit of David and his Cabinet, won a devoted readership over the years…Although the narrative by the late Alfred J. Hanna is rather limited…its underlying research was an invaluable guide in the composition of this account…The originality, charm and generally sound background of Hanna’s book make it of enduring interest to readers and scholars alike.” – Burke Davis.
Hanna also wrote The Confederate Baggage and Treasure Train Ends its Flight in Florida; the Diary of Tench Francis Tilghman, Florida Historical Society Quarterly, January 1939 – and reprinted as a separate pamphlet. This supplements his book, above.
Not only first in alphabetical order but first in importance in the ranks of magazine articles is Otis Ashmore’s The Story of the Confederate Treasure, The Georgia Historical Quarterly, Vol. 2, No. 3 (SEPTEMBER, 1918) - Burke Davis wrote “It is unlikely that a completely satisfactory account of the fate of the Confederate treasure will be written. Otis Ashmore’s…accepted as the most reliable, does not include the scene of the looting of the money wagons."
Somehow Burke Davis seems to have missed Mr. Ashmore’s companion article The Story of the Virginia Bank Funds; A Dramatic Episode of the War Between the States, The Georgia Historical Quarterly Vol. 2, No. 4 (DECEMBER, 1918). It is recommended, as well.The last days of the Confederate Treasury and what became of its specie, by Captain M. H. Clark - Southern Historical Society Papers, Volume 9, Reverend J. William Jones, Ed.
Both sections were traveling in the same financial rut; but the Southern money traveled downward the faster. The soldiers jingling their silver dollars on every road told the tale of the disbursement of the little Treasury, and I found on my return the wildest rumors through the country as to the amount it had contained. Five million dollars was the smallest amount mentioned.
Federal detectives were swarming along the route we had traveled, hunting papers, the Treasury and “the last man who had it in charge,” “for an immense amount must have been secreted somewhere; $5,000,000 to $15,000,000 could not vanish in the air in a day.”
But the undersigned wasn't eager to make new acquaintances, and wasn't then signing himself “Acting Treasurer, C. S.” An impression has prevailed with some that on that last day great demoralization, confusion and panic existed. Such was not so. The soldiers were orderly, and though the town was filled with men under no command, there was no rioting or violence, though the citizens feared something of the kind.
Southern Historical Society Papers, Volume 9., The last days of the Confederate Treasury and what became of its specie. – Retrieved October 19, 2013.
Burke Davis, The Long Surrender (New York: 1985) – Second only to A.J. Hanna’s classic contribution to the literature. This was the second book published on the flight of Jefferson Davis in April 1865. It has a great deal about the treasure train, and detailed notes and bibliography.
Robert S. Davis, "The Georgia Odyssey of the Confederate Gold," Georgia Historical Quarterly 86 (2002): 569-86.
Varina Davis, Jefferson Davis: Ex-President of the Confederate States of America, Memoir by his Wife, Volume 2 (1890)
William C. Davis, An Honorable Defeat; The Last Days of the Confederate Government (2001) – A detailed account of the events surround the end of the Civil War – including the fate of the “treasure train.”
Basil W. Duke, After the Fall of Richmond, The Southern Bivouac. Volume II. AUGUST, 1886. Number 3. – One of the foundation accounts from the Confederate officer responsible for the “treasure train.”
Douglas Gibboney, Bested at Berryville; A Broken Wagon Train and a Missing Gold Mystery, Civil War Times Illustrated, December 1985 (Volume XXIV, Number 8) – Mosby’s raid and the legend of a missing $100,000 Union army payroll.
J[ohn] B. Jones, A Rebel War Clerk’s Diary at the Confederate States Capital (1866) – Two volumes.
April 28[SUP]th[/SUP] [1864] – By a correspondence between the Secretaries o fthe Treasury and War, I saw that Mr. Memminger has about a million and a quarter in coin at Macon, Ga., seized as the property of the New Orleans banks – perhaps belonging to Northern men. I believe it was taken when there was an attempt made to smuggle it North. What it is proposed to do with it I know not, but I think neither the President nor the Secretaries will hesitate to use it – if there be a “military necessity.” Who knows but that one or more members of Mr. Lincoln’s cabinet, or his generals, might be purchased with gold? Fortress Monroe would be cheap at that price!
May 17[SUP]th[/SUP] [1864] – Some of the idle military officers, always found about the departments, look grave, and do not hesitate to express some apprehension of the success of Grant in forcing Lee back, and spreading over all Northern and Northwestern Virginia. The Secretary of War is much secluded, and I see by a correspondence between him and the Secretary of the Treasury, relating to the million and three-quarters in coin, belonging to the New Orleans banks, that the Secretary of the Treasury can make no “valid objection to the proposition of the Secretary of War.” I do not understand what disposition they propose to make of it.
General Joseph E. Johnston, Narrative of Military Operations During the Civil War (1874)
Hans Kuenzi, The Search for Lost Confederate Gold - The Cleveland Civil War Roundtable
“…historical research has determined only $70,000 of the gold belonging to the banks in Richmond is missing, but not lost, as it was accounted for in the robbery during its shipment back to Richmond. What remained of the Confederate treasury, in the form of gold and other valuable coins, was disbursed as payroll to Confederate troops during its transport south. By the end of the war, nothing remained in the coffers of the Confederate treasury except for its incalculable amount of debt.”
DAVIS' FLIGHT.; Particulars of His Course After Lee's Surrender. How He Gathered a Body Guard and Carried Off the Specie. His Men Become Uneasy and Clamor for Pay. He Encourages Them with Patriotic Speeches. Talk will Not Do and the Money Bags are Opened. Nearly All His Guard Leave Him and March West. Breckinridge and Other Leaders Probably Across the Mississippi.
Special Dispatch to the New-York Times. Published: May 20, 1865
Publications of the Southern History Association – January, March and May 1901 “History of the Confederate Treasury” – A very important three part series because it details the operations of the Confederate Treasury. Before it could be lost, the money had to be there in the first place. This is a tough slog – it’s detailed economics – facts and figures. It makes it very clear to me how little money remained in the Confederate Treasury at the end of the War.
Publications of the Southern History Association
Alfred Roman, The Military Operations of General Beauregard in the War Between the States, 1861 to 1865, Including a Brief Personal Sketch and a Narrative of His Service in the War with Mexico, 1846-8 (New York: 1884)
About this period a remarkable occurrence took place which is worthy of note. When New Orleans was about to be evacuated, in April, 1862, the civil and military authorities advised the banks and insurance companies to put their funds in security beyond the reach of the enemy. They nearly all did so, and, among them, the wealthiest o fall, namely, the “Bank of Louisiana,” which sent its assets, most of gold and silver, to the extent of some three millions of dollars, via Mobile, to Columbus, Georgia, under the care of its president. These funds were given in charge by him to Mr. W. H. Young, President of the Bank of Columbus, Georgia, with the belief that they would there be perfectly safe. To General Beauregard’s surprise, on the 11[SUP]th[/SUP] of October the following telegram was forwarded to him from Richmond:
“Take possession of the coin of the Bank of Louisiana, in the hands of W.H. Young, President of the Bank of Columbus, Ga., and place it in the hands of John Boston, the depositary of the Government, at Savannah. A written order will be sent immediately, but don’t wait for it.
“G.W. Randolph, Secy. Of War.”
Without loss of time, though very reluctantly, General Beauregard sent an officer of his staff, Colonel A.G. Rice, Vol. A.D.C., to execute this disagreeable order. On the 14[SUP]th[/SUP], from Columbus, Colonel Rice telegraphed as follows:
“To Genl. T.Jordan, A.A.G.:
“Mr. Young, under instruction from Mr. Memmingger, dated 9[SUP]th[/SUP] of June, refuses to give up the coin. He has telegraphed to Richmond. No reply yet.
“A.G. Rice, A.D.C.”
Forcible possession, however, was taken of the coin; and the Secretary of War, when applied to for further instruction, ordered that, inasmuch as Mr. Young had been “appointed a depositary” by Mr. Boston, “the money be left in the hands of the former, upon his consenting to receipt for it as the depositary of the Treasury Department.” * [*: See telegrams, in Appendix] This Mr. Young declined to do; and thereupon General Beauregard was ordered by the Secretary of War to turn over the coin to Mr. T.S. Metcalf, Government depositary at Augusta, Georgia; which was done, Colonel Rice taking triplicate receipts, one for the Secretary of War, one for General Beauregard’s files, and one for himself.
This was the property belonging to citizens of Louisiana, who were then despoiled by the enemy, in possession of their State, taken away from them by the Government of the Confederate States, from which they had a right to claim protection. What became of that coin is, we believe, even to this day, a mystery. It was, doubtless, spent for the benefit of the Confederacy; but how, and to what purpose – not have been regularly appropriated by Congress – has never been made known to the South, especially to the stockholders and depositors of the “Bank of Louisiana.” That institution was utterly ruined by the seizure of its most valuable assets, thus arbitrarily taken from it. It would have been more equitable to lease this coin untouched, or, if not, to take no greater proportion of it than of the coin of all the other banks in the Confederacy.
https://play.google.com/books/reade...sec=frontcover&output=reader&hl=en&pg=GBS.PR1
James L. Swanson, Bloody Crimes; the Funeral of Abraham Lincoln and the Chase of Jefferson Davis (2010) – Discusses the “Confederate Treasury gold rumors.”
The Confederate Treasure— Statement of Paymaster John F. Wheless. Southern Historical Society Papers, Volume 10. Reverend J. William Jones, Ed.
Southern Historical Society Papers, Volume 10., The Confederate treasure-statement of <a target="_blank" onclick="openPopupWindow(this); return false" href="entityvote?doc=Perseus:text:1999.01.0001&auth=wheless,john,f.&n=1&type=person">Paymaster John
Jay Winik, April 1865; The Month that Saved America (2001) – An important account of the end of the Civil War and its aftermath. It doesn’t deal with the fate of the Confederate Treasury – rather it is the story of how the Union was saved after the War. As we know from reading history, it is one thing to “win” the war. It can be quite another to win the peace.
Good luck to all,
The Old Bookaroo
