The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1863-08-26
ADDITIONAL FRDm EuaoPE.



The Confederate Loan..J'nited States
CORRUPTION, DC.
The London papers, Of the 1lth, com
ment on the Confederate loan, and the el-
feet upon it of the recent Confederate re-
verses. The Times says:
Those who now suffer, therefore, are not
10 be reproaehed for wnnt of ssgacity, how
ever much they may have exhibited want
OF canton. The example furnished is sim
ply confirmation Of the fearful uncertain
lies that beset all Investments that Depend
apon military successes or reverses. On the
news OF Waterloo, ii would have been alb
surd for those who had previously bought
largely to boast of the Superiority of their
nate enough to sell. In the present case the
operators who were purchasers Of the Con
federate loan were like persons entering into
battle, tOTake all its chances, and it must
be admitted that these have fallen upon
them to the utmost extent that could p0ssi-
bly, have been anticipated, the sudden
retreat OF Lee and the simultaneous fall of
ticksDarg and Port Hudson constituting an
accumulation of disaster rarely paraneIed
The following correspondence with regard
TO the Confederate loan has passed between
one OF the holders and Mr.. MeRae, who act
ed us agent from the Confederate States for
lis negotiation:
No. Is ST. JAMES PIAcE,
= London, Aug. ), 1863
Sir: The present position oi the Seven per
cent. Cotton Loan ON ourStock Exchange is
such rs to give anxiety to the holders. of
whom am one. At the same time |, for
one, have not lost for q moment the conf
dence always had in the ultimate success
OF the Confederate cause, nor, putting aside.
this view for the present, do doubt that the
engagements the Confederate Government
have entered into with the holders of tho,
bonds of this loan can be and will be faith
fully fulfilled.
However, in order to have q clear idea OF
the position OF affairs, should like to know
from You, the accredited agent OF this co,u-
try for the Cotton Loan, some few particu-
lars or the subject:
l. Whether there exists within the Con
federatc States, in possession Of the Govern
ment, cotton sufficient to discharge its lis-
bilitics on this loan; ifso, what amount they
possess.
2. Where the cotton is stored and how;
aud if the taking OF Charleston, Mobile, and!
Savannah by the Northern army will cause
tie destruction or capture of any portion OF
the Governmen: stock of cotton, and OF how
much.
3. Whether | or any holder of paid up
bonds, On demanding cotton in exchange for
bonds, can get immediate possession OF the
same within the limits of the Confederaey,
and whether, having possession Of the cotton
forthwith, shall, on return cfpeacc, or hay
ing previous, opportunity of expectation, be
exempt from ali duty, except the stipulated
duty Of an eighth of a cent. per pound.
4. Your candid reply 10 these questions
will much oblige me.
l am, sir, your obedient servant,
H. W. SCHWARTZ.
To MT. C. J. 1NcI'ue, Agent for The Cotton
Loan of the Confederate States OF America
BURLINGTON HoTEI,
Cork street, Aug. 5, 1863.
.Ssr-in reply to the inquiries contained in
Your note Of this morning, | have 10 say that
on the lst of March last the Government OF
the Confederate States had purchased about
so $50 bales Of cotton. The purchasing was
still going on, and il is fair TO presume that
by this time the quantity Eas beei, increased
10 al least 500, 900 ha'es.
This cotton is principally in the States Of
Georgia and Alabama, and some also in the
eastern part OF Mississippi, Northwest srn
Louisiana, aud Texas, and is stored on the
plantations of the planters, from wiioln Il
WAS purchased, in sheds or warehouses 300
feet ironA-auy Other buildings and in all
cases the planters have agreed with the Coy
ernment 10 take the same care ot.tlie colt On
a, if it still belonged TO them, and to deliver
il to the order of the Government when
wanted. The capture OF all our seaports
would not endanger the loss of single
pound OF cotton, as there are no stocks OF
cotton at any OF them, nor are there a1y
considerable stocks of cotton ut any one
place 10 the interior, care having been tax IN
by the Confederate as we'll as the State Gov
crnmen's that no cotton should be stored at
any point within five miles of a railroad sta
ton or nav gable stream. That portion Of
the crop of 1861 which had been brought to
the various interior depois has long sic te
been taken back to the Plantations by special
order OF the State Governments.
The cotton will be deaversd To any holder
of The bonds on demand, rs provided ior in
the fourth article OF the contact. In the
States OF Alabama aud Mississippi, where /
have personal knowledge OF the manner in
which the business lIas been transacted, the
cotton has been sampled weighed, ma, kcd,
and invoiced, and the agents of the bond
holders can examine the samples M the
offices OF the chief agents Of the. loan in the
different States, and take their orders on the
planter; for the delivery Of the cotton with
out trouble or expense. The cotton obtained
under this loan will not be subject 10 any
tax or duty except the export duty of one
eighth OF a cent per pound, existing at the
date of the contract.
am, sir, your obedien, servant,
G. j. MoRAE.
Agent for the Loan.
Mr.. H. w .Sch@dris.
The London Globe, speaking Of the
CONSUMPTION in Che United Sta es, says;
The Moraiitg Posi-, of to-day, asserts in tho
most prominent manner that the au,Gori-
tics at Washington say that the eonscription,
which has already deiuged the streets oi
New York with blood, is intended not as a
means OF aIgHentng the armies now en-
gagged against the South, but as menace to
England" We have not seen or heard ol
any information which would warrant the
above statement, and we are able 10 say with
certainty that no authentic intelligence has
been received giving it the slightest appear
ance of probability We were aware that
the New York Herald had used such Ian
guage, but until we read the passage quoted
above We never heard that the authorities III
Washington had put forth sucha declaration
But not only is there, as we have said, no
trustworthy Information at hand Which
would give it the slightest color, but the tone
of the American Government toward ON
own and the general relations between the
Cabinets of London and Washington, indi
reeiiy btt enthusiastically demonstrate the i'm
possibility of such language being held ty
The latter. Although, perhaps, the Ameri
Gun Government expects ffo,n our own an
active interference with the fitting ont O
vessels of war, which the law OF Engiant
docs no; appear 10 sanction, yet there is NJ
interruption Of The general amity betweei
the two; and in the face OF the language hcle
toward US in the name Of the authorities a
Washington, ii is, we may say, impossible
that they could have made declaration 81
nenaciny as that which our eotemporar,
sets forth.