War of the Rebellion: Serial 127 Page 0892 CORRESPONDENCE, ETC.

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JACKSON, MISS., January 29, 1862.

Hon. R. M. T. HUNTER, Secretary of State,

Hon. J. P. BENJAMIN, Secretary of War,

Hon. J. D. B. DE BOW, [Agent] Cotton Loan,

Richmond, Va.:

GENTLEMEN: Permit me to call your attention to the inclosed copy of a letter from R. M. Davis, president of the Bank of Louisiana (who is a gentleman of the highest standing, has extensive information, is true to our cause, and has just returned from Europe), and to the accompanying documents, to wit, a report* of a select committee of the Mississippi Legislature, and a slip* signed "Scipio" from the same source. Believing the Government lacked the funds necessary to purchase such vessels as could drive the blockaders from our ports by first attacking them at one point and then another, the object of the report is to bring an additional number of men with their money into the financial and military contests now going on, and place them under the direction of the President for the purpose of defeating the enemy in their present scheme to purchase or capture our cotton. We believe one or two discreet and competent commissioners or agents could in a short time form such a combination in the sea-coast cities as would effect the desired object. If there was no chance for the manufacturing interests to obtain cotton through the blockaders, the probability is that the blockade would be abandoned or broken up. So long, however, as the blockade may be the means of supplying the manufacturing interests of the North and Europe with cotton at half prices, we think there will be little anxiety out of our own limits to see it broken up. Should the Government favor the proposed plan Mr. Davis would make a good agent on the other side of the water, and is ready to act under the proper authority.

Very respectfully, yours, &c.,

J. B. GLADNEY.

[Inclosure.]

NEW ORLEANS, January 14, 1862.

J. B. GLADNEY, Esq.,

Jackson, Miss.:

DEAR SIR: In reply to your inquiries in relation to the opening of our ports by foreign powers, I will state that while in Europe during the last summer and autumn I had good opportunities of judging of the feelings of the English and French people toward our Confederacy, and came to the conclusion that our people should not look to any foreign power for relief from the evils of the blockade. Their hatred and prejudices against slavery hitherto have counterbalanced their interests, and unless the Trent affair had occurred we should not have ever been recognized until complete success crowned our efforts against the North. As the Yankees have backed down and will continue to give way to every demand of England, we must not expect any interference beyond recognition, perhaps; but that will not raise the blockade. We have the most ample means within ourselves, if properly used, of opening our ports, and should lose no time or exertion toward effecting that object. Any attempts at relief by the issue of Treasury notes or from banks must prove futile without opening a market for the sale of our products. Any proper measures for the

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*Not found.

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