FEBRUARY 26TH, 1862: The New Orleans "Committee of Safety" reported to President Davis regarding the "most deplorable condition" of the finances of the Navy department there, stating that it was preventing the enlistment of men and that the "outstanding indebtedness ... can not be less than $600,000 or $800,000" owing to foundries and machine shops, draymen and other suppliers, and that for months "a sign has been hanging over the paymaster's office of that department, 'No funds.'"
The Committee stated that "unless the proper remedy is at once applied, workmen can no longer be had."
--Old B-Runner
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