Alfred Roman, The military operations of General Beauregard in the war between the states, 1861 to 1865

The agent of the Confederate government in Europe for the obtainment of ships was Captain J. D. Bullock. How late he went is not known. On the 24th of August, 1862, he got the Alabama afloat, under the famous Semmes——not to raise the blockade, but to assail the mercantile marine of the North. And up to that period the Alabama and the Florida had been the only ships of any consequence secured. The latter commenced her career from Mobile Harbor, under Captain Maffit. The Sumter and the Jeff. Davis, two frail, indifferent craft, extemporized for cruising from merchant-ships in Southern ports, had already closed their brief careers. The Nashville, a coasting steamer, made a voyage across the ocean in 1863, under Captain Pegram, and was run ashore on the coast of Georgia, to save her from capture. In 1864 the Shenandoah was bought in England, and placed under command of Captain Waddell; the Georgia, under Captain Maury. The Tallahassee and the Chickamauga—blockade-running screw-propellers had run into Wilmington—were also bought, and sent out with the Confederate flag, under Captains Wood and Wilkinson respectively, in 1864. What was done by the Confederate government to raise the blockade, on the one hand, and to sweep the commerce of the North from the ocean, on the other, was accomplished, almost exclusively, by the few ships mentioned. Such were the tardy and feeble efforts made, which show the extent of the failure to procure a navy. Meanwhile, we had naval officers of superior ability—one admiral, twelve captains, thirty commanders, and one hundred and twelve lieutenants—all ready and anxious for service. The principal officers had belonged to the navy of the United States common to both sections before the war, and among them were men of world-wide renown.

3. In regard to the financial operations of the Confederate government, it was believed by many that Treasury notes, payable for all public debts, except duties, could be used to the amount of from $100,000,000 to, possibly, $200,000,000. But, beyond that limit, it was unquestionable that such issues must exceed the necessities of business and bring about want of confidence, speculation, and depreciation. At best Treasury notes were simply a form of credit, based upon income or funds derivable from certain sources. And it was obvious that for the actual means of carrying on the government and meeting the requirements of a