Lost Cause
1st Lieutenant
- Joined
- Sep 19, 2014
In Dec 1864, Lincoln sent correspondence to General Canby who opposed cotton trade. The following is an excerpt.I'm not familiar with this. Rebforever alluded to the same thing yesterday but didn't go into detail. How did Lincoln personally benefit?
"As to cotton. By the external blockade, the price is made certainly six times as great as it was. And yet the enemy gets through at least one sixth part as much in a given period, say a year, as if there were no blockade, and receives as much for it, as he would for a full crop in time of peace. The effect in substance is, that we give him six ordinary crops, without the trouble of producing any but the first; and at the same time leave his fields and his laborers free to produce provisions. You know how this keeps up his armies, and procures supplies from abroad. For other reasons we cannot give up the blockade, and hence it becomes immensely important to us to get the cotton away from him. Better give him guns for it, than let him, as now, get both guns and ammunition for it. But even this only presents part of the public interest to get out cotton. Our finances are greatly involved in the matter. The way cotton goes now carries so much gold out of the country as to leave us paper currency only, and that so far depreciated, as that for every hard dollar's worth of supplies we obtain, we contract to pay two and a half hard dollars hereafter. This is much to be regretted; and while I believe we can live through it at all events, it demands an earnest effort on the part of all to correct it. And if pecuniary greed can be made to aid us in such effort, let us be thankful that so much good can be got out of pecuniary greed.