ace should be declared.
Finally the whole issue was taken by Baron Erlanger, a wealthy German with banking houses at Frankfort, Paris, and anger built a number of railroads in the South which he styled the Erlanger system.) Baron Erlanger ridiculed the idea of the South, issuing $Baron Erlanger ridiculed the idea of the South, issuing $15,000,000 in bonds, when a much larger figure could have been negotiated.
For it is a fact that at that time cotton was bringing from 60 to h cotton at 10 cents a pound.
Colonel Gibbes is not positive what Erlanger gave for the bonds, but thinks the price was over 80 cents on the t is evident that more than $15,000,000 could have been gotten.
Erlanger came to this country and from President Lincoln at Washington obtained a pass to Richmond — for Lincoln did not know Erlanger or suspect his mission.
The foreigners communicated with President Davis and Mr. orrow but $15,000,000 and he could not exceed its instructions.
Erlanger was thus unseccessful.
He declared that the South should get all