Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1863-01-29
Mr.. Benjamin to Mr.. Mason.
" Bsniamin q Mr. Mag0n.
[NO. 81 DEPARTMEST OF STATE.
RICHMOSD, October %, 1862 (

CNo.8l DEpARIMEsT or STATE,
RIcHMoSD October %, 1862.
Hon James n Mason, etc, etca LONDON:
SIR: The arrangements made by the bearer of dis.
patches 6 and H. for facilitating intercourse between
u.s. have been approved and will be continued long az
successful The details will be explained you by the
bearer Of this dispatch CIT George Sander) person
The subject Of loan, based on cotton certificates has
been fully considered and you viii receive herewith a
communication from the Secretary Of he Treasury IN
forming you Of the conclusions reached by after
much 6eliberatiOn. I communicated TO the Secretary
your tender Of services in connection with this matter
and he requests me to express hs thanks and % solicit
your aid and cooperation in any movements that may be
made to by Mr. Spence to whom the gov
ernment has eonded the business in consequence chiefly
of your Recommendation. He had been appoints 70
take charge # other negotiations before the receipt Of
your last dispatch
sat fas'i " your eonduct in assuming under the
circumstances the ponsibty Of mskng the arrange
Is for he success o. Captain Sinclair in
his arrangement for building 3 ship
It's gs tying 10 perceive hat yod had as was con
hcen a"icl atsd rev eVed your Impression and de
termin=d not 20 ~ithdrasy from ondon without the
evioHs Instructions of tbs PRESIDE t. Yolr CORE
spoade1cs with Earl Russell shoEs with what snt
u-esy yeu baSe been ire stsd and exhibits Marked
tss between the net If the EDgl sh sgd Fcrch
statesmen IN Office in cir in ereourss tn foreign
agens emi1e ty dseredi 40 to he frmer II Is
lmeR'sble that a this late period in the nneteenth
cent ry nation enlightened Great 7r tain should
have failed YET discover thst ineipsl Of the
ka sad hatred toward Engsnd Of which conn lants
rife In her Psrl smen and IL Fer press Is the off
sive arrosancs of Of her public n en- The con.
rsst at liking De wsen the pcshed courtesy OF Mr..
ThouFenel and the ru e inei7iliy o. Earl RusssU
Your dete ninstion to sabro TO these annoya css in
the service nf your country and TO overlook PEI s9nal
sights Will, hope remains that your e9ntinued pres
ence h FgIand may beneGt our ceuse cannot faI "a
meet the wsTm approval IF your go sernma nj. I re
r-in hOTever from further onmsnt on the con eRts
Of your Dispatches till the attention of the Prs ident
no ecneentra'ad on Ell irts to repair the i'll effects of
h failure # the Kentucky campagl can be directed
to your correspnndsace With Iisri Rus ell
JP BEsJAms.
Secretary Of State.
coRREspoNDENcE OF CONFEDERATE TREASURY AND
NAVY DEPARTMENTS.
mr. MemmingeT to Mr. Mason.
IDaplieate
TREASURY DEPARTMENT, C. S. A.,
RICHMOND. October "a Ib62
Hon J. NJ Mason, Commissioner Confederate States,
SIR The cotton certificate forwarded in your dis
patch to the Secretary of State, has been carefully e-
anined, and upon due consideration of the views
by you and the probable ability Of the govern
meat furnish cotton form Of certificate has been
adopted somewhat differing from yours The differences
In price Itbas been decided best to x this at FIVE
pence sterling This form of stating the price has been
adopted IN pre- to cents beeause expresses the
rate to be paid for the cotton here in currency which
understood to carry right to its value in London
Thus Eve pence sterling would imply right to receive
that amount in London, or much Of our currency
would be required purchase five pence sterling At
the preseht rate OF exchange this would amount to
tive tyhve cents It is thought that this would not be
too high price to demand.
3 The cotton s made deliverable at eertain ports in
stead of any port at the option Of the holder This
change is equired by the fact that most Of cotton is
at the West and if large portion should be required
at as Atlantic port 1t wod be impossible TO perform
the contrset 1t b therefore proposed to issue separate
certificates for the Gulf and Atlantic ports in such
amounts can be delivered at each.
3 The eTtfcaes are demanded only after peace and
within six months thereafter. Il would be impossible
to transport the cotton to any great amount until that
period To provide, however, for such might
desire The blockade is proposed that for some
premium TO be adju ted by yourself you should place in
he contract add ional clause follows, whi-h you
are authorized 60 sdd:
The Government further agrees 20 deliver the cotton
called fer in this certificate any time during he pend
ng war any port within its possession, (f prac caoe
TO transport the cotton to the port selected9 upon the
p4vrent by the holder of the cost Of transportation
In case by accident otherwise the holder should
omit TO make his demand within this period the certin-
80 IL not forfeited bat the Government has the option
10 deliver the cotton the amount paid say
thousand dollars with interest a. six per cent from the
issue Of the certificate.
An additional formailty added in requiring your
indorseuent This addition has been made 50 guard
ainst capture loss of the certificates their way
10 Europe sne also TO give oc a supervision there.
now send. by Mr.. g. n. Sanders, one thousand Ger
eates Tor the Gulf ports and i've hundred for the At
---;a In order to have the payments put IN proper
f voa had better deposit TIE esrtheaes with our de-
nositer es AIessrs Frazier Trenholm Co.. a. Liver
3ool directing them to receive the money AUD deposit
goo - me credit of the Treasurer Of the Confed-
! s-afs States This-wil plsce matters in business
torn and relieve you Of the necessity Of keeping ao-
counts.
In order that you may act understandingiyi perlnt
1ns to appfse you Of such financial arrangements a
hsve Glreaiy been ma6s.
s7ence Of Liverpool nsn'al agent and have reque 81
d him to gotiae for the sale Of five millions do lars
orr eight per cent. bonds, If be can realize fifty pc
cent on them. have already sent over two million
oF tie bonds and will send snoth T million in wee
ten DAYS Mr. Spence Is directed to confer with Akess
, Frazier Trephoin q Co., who had previously bee
made our depositaaies at Liverpool Had known wat
! sr aatv vls You were I would also have refeue
Sr to you and would thaalz you now to place you
n self in CORES spondence with him