own officers to get cotton out and run supplies in, the value of every
bale of cotton that reached the Islands secured, in due time, its full
equivalent in army supplies. There were some captures of cotton going
out, and others of supplies going in, but the losses were for a long
time inconsiderable. When, however, the contract system got into full
working condition, although there were more vessels in the service, the
supplies began to shrink. Contractors were "on the make." That was their
business, and they pursued it eagerly, for the profits were large.

The "Nashville," which had been a packet between New York and
Charleston, was purchased by the C. S. Government and converted into a
cruiser, and as it was very desirable that there should be some show of
naval power in a European port, she was sent under command of Captain
Pegram to Southampton, where she arrived in good order. On reading the
news of her arrival, I went immediately to Southampton to call on her
officers, with Mr. Fearn, secretary to Mr. Yancey. The ship was, like
all American ships, trim and in beautiful condition, but she was only a
converted passenger ship, and must have made a poor showing had she met
a U. S. ship of any size. However, she served the purpose of displaying
the Confederate States flag in a foreign port and on the high seas.

My object in calling on Captain Pegram was not one of courtesy alone. A
most outrageous proposal had been made to me, involving the capture of a
British ship bound from Hamburg to New York, loaded with a hundred
thousand Austrian rifles. The proposal, in brief, was: That I should
deposit L10,000 in the Bank of England subject to the draft of one of
two persons. In the event of success of the scheme, one was to draw the
money; in case of failure, the other. The plan was to capture a British
ship, then loading with arms at Hamburg for New York. It had been
proposed to me that with a tug, having a gun on board, I should
intercept the ship, fire a gun, and demand her surrender. The captain
would have orders to comply with my demand, and I was to direct him to
sail to Charleston.

* * * * *

The scheme was not impossible for any one holding a privateer's
commission, and I applied to Mr. Yancey for a letter-of-marque. On
hearing my story, Mr. Yancey said he had such commissions, but that they
were contrary to the spirit of the age, and he had determined not to
give any of them out.