ived from the commander, she having two white flags flying,
hoisted by her own people, a heavy fire was opened upon them from
the shore and from the Congress, killing some valuable officers and
men. Under this fire the steamers left the Congress; but as I was
not informed that any injury had been sustained by those vessels at
that time, Lieutenant-Commanding Parker having failed to report to
me, I took it for granted that my order to him to burn her had been
executed and waited some minutes to see the smoke ascending from
her hatches. During this delay we were still subjected to the heavy
fire from the batteries, which was always promptly returned.

The steam frigates Minnesota and Roanoke, and the sailing frigate
St. Lawrence, had previously been reported as coming from Old
Point; but as I was determined that the Congress should not again
fall into the hands of the enemy, I remarked to that gallant young
officer, Flag-Lieutenant Minor, "that ship must be burned." He
promptly volunteered to take a boat and burn her, and the Teazer,
Lieutenant-Commanding Webb, was ordered to cover the boat.
Lieutenant Minor had scarcely reached within fifty yards of the
Congress, when a deadly fire was opened upon him, wounding him
severely and several of his men. On witnessing this vile treachery,
I instantly recalled the boat and ordered the Congress destroyed by
hot shot and incendiary shell.

* * * * * * * * * * * * *

FRANKLIN BUCHANAN, _Flag Officer_.

* * * *

_DEPRECIATION OF CONFEDERATE CURRENCY._

In the chapters on Finance and Dollars and Cents, reference has been
made to the rapid depreciation of C.S. Treasury notes. The condensed
table appended--gathered from most reliable data--will explain this
more clearly than could a volume:

RELATIVE VALUE OF GOLD FROM JANUARY 1, 1861, TO MAY 12, 1865.

1861.--January 1st to May 1st, 5 per cent.; to October 1st, 10 per
cent.; October 15th, 12 per cent.; November 15th, 15 per cent.;
December 1st, 20 per cent.

1862.--January 1st, 20 per cent.; February 1st, 25 per cent.;
February 15th, 40 per cent.; March 1st, 50 per cent.; March 15th,
65 percent.; April 1st, 75 percent.; April 15th, 80 per cent.; May
1st. 90 per cent.; May 15th, 95 per cent.; June 15th, 2 for 1;
August 1s