War of the Rebellion: Serial 127 Page 0844 CORRESPONDENCE, ETC.

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perhaps more imperiously demanded than any other. Many new manufacturing establishments, otherwise ready to go into operation, are kept back for want of one or two indispensable articles, and many old establishments will soon be compelled to suspend without them. One article is named which ordinarily costs 2 cents per pound, and now brings $ 1; and a list of 500 articles can be shown which are selling from ten to forty fold advance on former cost. Probably each $ 1,000 worth of these key articles would make at least $ 50,000 worth of Southern manufactures immediately available to the pressing wants of the people. It would seem, then, that any plan which would insure these much needed importations would be of the greatest public and private benefit. The Government can of course get its own immediate wants filled, but not so the others without other combinations. The Government cannot of course be indifferent to the condition of the manufactures from which it draws many of its own supplies, nor that of the railroads upon which it is dependent not only for supplies but for strategic combinations. I submit, too, whether the Government could not, through the suggested combination, get its own importations more surely, promptly, and cheaply than through any other method. The combination here is simprnment combine for a part of its own supplies with the importers of merchandise, manufactures, and the railway companies, making their orders from the English combination named below. It will be seen that organization is designed to cover large operations. The profit on the wants of a single interest would not be sufficient to induce it, while the aggregate profits of the whole would. The European combination is simply an association of European capital and enterprise for the purpose of sending goods to the Confederate States during the war. Without such a combination I am certain that no such exportations will be made to any extent. Trade is nowhere so perfectly systemized - I may say channelized - as in England, where the base of expected operations will be located. It is governed by rules which have almost the force of legal enactments. One of these rules is to make no ventures outside the scope of legitimate traffic, and it is considered destructive to commercial character to do so. Firms, then, as business operations, will not send goods to this country in any quantities, and only when stimulated by extraordinary profits. In proof of this I may cite the fact that the extremely high prices that have ruled since last spring have not induced these exports, notwithstanding the great efforts made by myself and others to start them. Why? First, the rules of trade above named, the great risk if a firm owned the entire cargo, and the publicity given by any attempt for a small combination; the want of knowledge as to what was wanted here and the prices they would command; and finally, because they were not sufficiently interested to inaugurate and perfect a system that would include the elements of secrecy, security, and knowledge of what was wanted and the prices they would command. Again, they wanted reliable information of the risks of capture, of the ports on this side, of pilotage, & c., which even the few disposed to venture could not get except in rare cases. A combination of interests here could supply these all-important desiderati upon which the European combination will be built up, which will insure exportations to this country. For while, for the reasons before named, the merchants - as business operations - will not make large ventures, they as a mass are friendly to the South, are looking eagerly to the future $ 600,000,000 of annual reciprocal trade between Europe and the Confederate States, and are exceedingly