FINANCES OF THE UNITED STATES. 



343 



The general rule under which agents have 

 been acting since the surrender of the Southern 

 forces, has been to collect and forward, as cap- 

 tured property, all cotton described upon the 

 books and lists of the Confederate Government, 

 or which there was sufficient reason to believe 

 was owned or controlled by it, 'and that which 

 belonged to companies formed for the purpose 

 of running the blockade, in support of, if not 

 in direct cooperation with that Government, 

 leaving individual claimants of the property to 

 their recourse before the Court of Claims, as 

 provided by the third section of the act ap- 

 proved March 12, 1863. In the performance 

 of their duties, the agents had great difficulties 

 to encounter, from the unwillingness of the 

 planters to .surrender the captured property in 

 their possession, from extensive depredations 

 upon it after it was collected, and from power- 

 ful combinations formed to prevent, under va- 

 rious pretexts, the property fairly captured from 



coming into the possession of the United States. 

 In spite of all these obstacles, however, it is es- 

 timated, from data furnished by the agents, 

 that there will be secured to the Government 

 not less than one hundred and twenty-five thou- 

 sand bales of cotton, including the eighty thou- 

 sand bales already referred to. What part of 

 the proceeds of this property will ultimately be 

 retained by the Government will depend upon 

 the success of the claimants before Congress 

 and the courts. In collecting this cotton, there 

 have been doubtless some instances of injustice 

 to individuals who may be entitled to the con- 

 sideration of the Government; but the 'Secre- 

 tary believes that the cotton which has been 

 taken by the agents was rightfully seized, and 

 cannot be equitably claimed. 



The following tables, showing the price of 

 gold on each day for the last four years, are 

 from the New York Commercial and Finan- 

 cial " Chronicle : " 



