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Southern Historical Society Papers, Volume 35. (ed. Reverend J. William Jones), chapter 1.53 (search)
by the Treasury Department of the Confederacy to negotiate the famous cotton bonds. Mr. C. G. Memminger, of this State, was Secretary of the Treasury, but Colonel Gibbes was sent at the advice of Mr. Judah P. Benjamin, Attorney-General, who had, while an attorney in New Orleans, been a legal adviser of Colonel Gibbes. The latter ran the blockade out of Charleston the first week in November (parenthetically, Colonel Gibbes remarked that blockade running was far from an impossibility. John Frazier & Co. were famous blockade runners, and made 60 trips before a single vessel was attacked. However, pilots were paid fabulous prices, and a captain received $5,000 in gold for each trip). Arrived at Nassau, Colonel Gibbes spent a month waiting to get over to Liverpool. When he arrived at the latter place, he conferred with James Spence, an Englishman, financial agent of the Confederacy. For several weeks they worked hard and without success in the endeavor to dispose of the bonds at