Wednesday, November 21, 2012

1862 November 22 Lynchburg, Va.



[from the diary of William M. Blackford, bank officer and former diplomat with five sons in the Confederate Army]

Saturday 22.   Richd. Davis got off at a
good hour having first had his break
=fast..  We had an unprecedented state
of things at our Board.  Our discount
line was within 28.000 of being up
to the limit allowed by law--and
we could not do half the offering.  I
was in favor of disregarding the limit
but the board did not agree with me
I telegraphed to Petersburg to see whether
the office would take $50.000. Which it
agreed to do--I wrote to propose they
should take twice the amt I believe
there is no other bank in the State
which has reached the limit.  In Peters
burg they have only 200.000$ discount
& not much more in Richd--our
net gains will be 7 1/2 per cent last
6 mos from discounts alone--which adds
to our interest not less than 3 1/4 more
This is doing pretty work

MSS 4763

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