Lot 922
April 4, 1864 Confederate States Treasury Sight Draft. PCGS About New 50, Cut Cancelled. While warrants of this type are seen in the collectible marketplace from time to time, this example is eye-catching because of the issue amount. It is payable for $1,140,000 to the Confederate army stationed in Shreveport, Louisiana, and represents a transfer of funds (at least on paper) from the C.S.A. Treasury in Richmond. It is, of course, unlikely that the Confederate government was capable of transferring this amount of money in gold as late as April, 1864, from Virginia to Louisiana. In fact, the transport of even paper currency at that great distance, through the Union-held lines that by then had split the South into two halves at the Mississippi River, could only be done at great risk. A transfer of this amount of money could only be done via a draft, and given the state of finances of the Confederate government this was undoubtedly a purely "fiat" transaction. It is cancelled, which indicates that it did at least reach its intended destination-and back or redemption. It is a fascinating piece of financial history from the Civil War, and one that will intrigue any collector with an appreciation for the history of this conflict.
Estimated Value $200 - 300.
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| Realized $270 |
