The Express.
London, England, 1863-08-07 00:00:00

THE CONFEDERATE COTTON.

It appears from a letter published by Mr. M'Rae,
in answer to inquiries made by a holder of the so-called
Cotton Loan, that the cotton supposed to constitute the
security of the subscribers lies principally in the States most
exreed to the operations of the Federal army. Unless
burnt, as so much has been, by the Confederate agents.
the Federal government, will no doubt, rapidly bring it
forward, when the holders of the loan will, of course,
benefit in oommon with the public at large by the general
cheapening of cotton that will ensue. Mr. leitne writes :
Burlington Hotel, Corketreet, August 5.
Sir,—ln reply to the inquiries contained in your note of
this morning, I have to say that on the lit of March last
the government of the Confederate States had purchased
about 320,000 bales of cotton. The purchasing was still
going on, and it is fair to presume that by this time
the quantity ha been increased to at least 500,000
bales. This cotton is principally in the Stake of Georgia
and Alabama, and some also in the casters part of
Mississippi, North Western Louisiana, and Texas, end is
stored on the plantatiooa of the planters from whom it was
purchased, in sheds or warehouses 300 feet from any ether
buildiogs ; and in all OMB the planters have agreed with the
government to take the same oare of the cotton as if it still
belonged to them, and to deliver it to the order of the
government when wanted. The aipture of all our seaports
would not endanger the loss of a single pound of cotton, as
there are no stocks of cotton at any of them, nor are there
any considerable stocks of cotton at any one place in the
interior, care having been takes by the Confederate as
well as the State governments that no cotton should be
'toted at any point within five miles of a rail-
road station or navigable stream. That portion of
the crop of 1861 which bad been brought to the
various interior depots ham long since been taken back to
the plantations by special order of the State governments.
The oottoa will be delivered to any holder of the bonds
on demand, as provided for in the fourth article of the
contract. In the States of Alabama and Mississippi, where
I have personal knowledge of the manner in which the bad-
ness haa been trammeled, the cotton has been lampled,
weighed, marked, and invoiced, and the sante of the
bondholders can examine the maniples at the offices of the
chief agents of the lean in the different States, sad teketheir
orders ou the planters for the delivery of the cotton with-
out trouble or expense. The cotton obtained under this
loan will not be subject to any tax or duty except the
export duty of one-eighth of a mot per lb. existing at the
date of the contract.-1 am, Ac.,
0. J. WEL; Agent for the Loan.
Mr. H. W. Schwartz.

NAVAL AND MILITARY.

PORTSMOUTH, AuFor &

--.—
The Lords Commissioners of the Admiralty
dined with Vioo-Admiral Sir Michael Seymonr, the Coro-
mander-in-Chief at this port, at his official residence in the
dockyard, last evening, and afterwards patronised the boll
given at the King's-rooms, Sonthaea, in aid of the Seamen's
and Marines' Orphan School, established at Portman This
morningat 10 o'clock their lordships landed at the dockyard,
and proceeded to the °Mee of the Rear-Admiral Superin-
tendent George Elliot, where they remained until noon,
and afterwards inspected the Royal Sovereign, turret ship,
the Hector, iroo-cased frigate, the 'vessels on the building
slips, the steam factory, smithery, he. Their lordships also
inspected the ground abutting on the north east port of the
dockyard which has been appropriated for the erection of
naval barracks, and after partaking of luncheon on hoard
the Enchantress, continued their inspection of the various
departments of the dockyard. The Thunderer, target ship.
partially cased with experimental iron plates of French and
English manufacture (and which have been tested during
the presses week with 68-pound solid shot), was brought
down alongside the dockyard and minutely examined by
their lordships.
At 1100 n today a royal salute was fired from the ships in
harbour and she garrison saluting battery is honour of the
birthday of His Royal Highness the Prince Alfred.

THE CHARNEL num.—The Channel squadron,
under the command of Rear-Admiral Dames, after a week'.
stay in Leith Roads, Firth of Forth, weighed anchor on
Wednesday afternoon, and under maw, with partial as-
sistance from steam, nailed down the Firth and continued
its northward cruise. Its next destination is Cromarty
Firiluand, after mains round the north of Scotland, the fleet
it is expected will visit the Clyde and the Mersey. During
their stay in Leith the ships, particularly the greet ironclad"
Black Prince and Warrior, were visited by immense num-
bers ; the crowds at Leith and (Manton piers being so greet
that many thousand. failed to get out to the roadstead.
On Tuesday afternoon Captain Cochrane, of the Warrior,
received a select party of about 200 ladies and gentlemen on
board, and steamed about 20 miles down the Firth in the
direction of the Base Rook The weather being very fine
the company. were highly gratified with the trip, and
with the sight of this magoificeot vessel in full
sailing order. The speed pet on was over 12 miles, mender-
ably leas than the full power of the engines. On Tues-
day evening the Lord Provost, magistrates and council
of Edinburgh entertained the officers of the fleet, to the
number of 200, to dinner in the Music Hall. A consider-
able number of military and civilian guests were also
invited. The Lord Provost presided, and gave the tout
of the eventog, and others appropriate to the occasion, in
a most heartfelt sad cordial manger, and the Admiral, in
acknowledgment, expremed his high gratification with the
welcome which the fleet bad received an visiting Scotland.
PLYMOUTH, AuousT 6. A serious accident
happened to-day at a brigade review of the Devon
County Volunteers, on Little Haldown Down, near Taiga.
mouth, The grand-staed broke down. No persona were
killed, bat eemeel were more cr lens inured.
CAPTAIN SMALLS.—The following is the official
letter communicating to Captain Souders the fact of a pardon
having been extended to ben :—" Herse-Guards, July 2S,
1863.—5ir,--I am directed by the Field-Marshal Gan-
Dowding-in-Chief to inform you that the Judge-Advocate-
General has represented to his royal highness that in con-
sequence of farther information having been obtained con-
cerning the manner in which your trial by court-martial
had been conducted the proceedings are in his opinion
vitiated. His royal highness, therefore, felt himself celled
upon .0 recommend to the Queen, in accordance with the
suggestion of the Judge-Advocate-General, that her Ma-
jesty would be pleased to extend to you her moat grad-
Me pardon, to take effect from the date thereof (21611
inst.), but not to operate in any manner to reinstate you
as paymaster of the 6th Dragoons, and her Majesty has been '
graciously pleased to approve of this recommen&tiqp, sad
to grant yen her pardon accordingly. (Shed) W. F.
FORATTIL—To Thomas amides, Esq., late paymaster 6th
Dragoons."
A ItumatuLaras CALM ON THE ATLANTIC.—The
vessel which arrived at Greenock on Monday report the
Atlantic to have been as smooth as a mill peed a,
without • breath of wind and scarcely say perceptible
swell ; and one ship was handmaid for fourteen days about
150 miles off the Irish coast, • remarkable occurrence in a
quarter of the globe notorious for the opposite extreme of
weather. The quiet and 'annelid appearance of the our&
is described to have been such as has seldom if ever been
witnessed in these latitudes by the moat experienced ship.
master. This calm must have demised a number of lavas+
bound Alen ; beta bream having since sprung up • whole
fleet of vessel are expected in Channel, and will be in the
Clyde in a day or tees On Tuesday we bad an instalment
of theni,in the arrival of no fewer than seven large vessels.—
magma Herald-