John Slidell to Judah P. Benjamin, November 28, 1864

Mr. Slidell to Mr. Benjamin

Sir: As I am still without the despatch referred to in your No. 42 I fear that it has miscarried, and beg leave to suggest the transmission of a duplicate. I have to thank you for the copies of the State Map of Virginia; one of them I have presented to our excellent friend the Duke de Persigny. I have been prevented from placing a second in the hands of the Emperor by the serious illness of Mr. Marquand, who, I trust, will soon be able to resume his functions.

In conformity with the intention of which I had the honor to advise you in my last despatch of 35th instant, the joint notes to the different European powers have all been forwarded through the several legations at this court, with the exception of that to Russia; as I had reason to suppose that some objection might be made in that case, I have sent the documents by mail to St. Petersburg, directed to the minister of foreign affairs,

The note for Rome was sent by Mr. James T. Soutter, of Virginia, to Bishop Lynch, with a request that, should the latter be absent, he, Mr. S., should hand it in person to Cardinal Antonelli. The accompanying copy of a letter from Mr. S. will inform you of the very gratifying manner in which it was received by his eminence.

The President’s message has’ just reached us; its frank and manly tone commands universal admiration; copious extracts from it have been published in nearly all the Paris journals, and are producing a very marked and salutary effect on public opinion. It appears at a very favorable moment, as the Italian question has ceased to occupy the press, which it had almost monopolized for the past two or three months; for this reason, and the absence of any apparent cause to apprehend European difficulties, our affairs have to a certain extent taken its place, and I believe that an impulse in that direction has been given to the semiofficial journals from high quarters.

In consequence of the absence of Lord Cowley, Mr. Drouyn de Lhuys has had no opportunity to speak to him on the subject of your No. 42, but so he has returned, and they are both guests of the Emperor at Compeigne during this week. I think that the subject will be broached there; at least such is the opinion of my friend at the Affaires Étrangères. Mr. Hotze will have informed you that, after diligent inquiry, he cannot find that any instructions relating to our cruisers or their prizes’ have recently issued from the admiralty. When the minister, of foreign affairs returns to Paris I will, I doubt not, be able to ascertain whether anything has been said or done by him in the matter.

Since my No. 71, of 13th September, but £9,500 of the 7 per cent, cotton loan has been converted. The last certificate issued bears date 19th October, and as a considerable amount of these certificates is said to be in the market, it is to be presumed that no further conversions will be made for same time to come. This check of the process of absorption of the bonds which was going on so healthily, can only be attributed to the cessation of the facilities heretofore afforded for the delivery of cotton to the holders of certificates, I take it for granted that this cessation has been caused by stringent military exigencies, and hope that it may not be of long duration. In the mean while it has seriously affected the price of the bonds, which, in view of our late military successes, would otherwise have shown a considerable advance. The agent of the Albion Trading Company especially complains that the ships of the company despatched under the contract made with Mr. McRae and me have been compelled to load one-half of their cargoes on government account; as this contract, when made, was considered highly advantageous to our interests, it would seriously affect the credit of the confederacy if any change in our policy in regard to the shipment of cotton should interfere with its execution.

I have the honor to be, with great respect, your most obedient servant,