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Affairs in Memphis.

A correspondent of the Mobile Advertiser, who visited Memphis a few days since, gives that paper an interesting account of the state of affairs there under Yankee rule. He says that all cotton that is not submitted to the Provost Marshal for him to slice his percentage from is confiscated. He adds:

‘ This confiscation seldom benefits the "best Government the world ever saw," but the goose that lays the golden egg is set upon the well feathered nest of the Yankee commander. Others who are successful in bringing their staple in as Tennessee cotton, must proceed forthwith to the Provost's office and subscribe to support the ineffable Union, and especially against the "so-called Confederate States," after which their property may be sold, and they may purchase articles of prime necessity, consisting of one barrel of flour, ditto of salt, twenty pounds of coffee, fifty of sugar, &c. Then in order to be able to remove the same without the lines, they are required to take oath that their family numbers so many members, that they have not before taken out supplies, and other limiting statements. They then pay the price for the permit, and if desiring to take out more supplies are referred to Brig.-Gen. Veitch, who invariably in consideration of an unmentioned stipend, allows the parties to obtain the material required Brig.-Gen. Hurlburt is the chief commander and head thief, ably seconded by Brig.-Gen. Veitch and Provost Marshal Swayne. The profits acquired by this firm are enormously large, as the business requires no capital save rascality, in which the copartnership is considered wealthy, and the expenses are paid by the United States. Do you require shoes by the wholesale, blankets, caps, or any contraband article, the indulgent and considerate rulers above named will grant you a permit for the same, if your hand grasps the golden eagle which they so much revere. Corrupt as Butler was at Now Orleans, he is equaled at Memphis, the only difference being that at the latter point the Yankee Government suffers as much as the Southern people.

’ Smuggling is carried on a large scale, and there is scarce a house within a radius of ten miles outside of the lines from Memphis which does not afford shelter for smuggled goods. Anything that is required by those who fear to enter the corrupt town may be obtained through the lines at an advance of fifty per cent. Any quantity of Confederate money may be purchased outside at twenty cents on the dollar for "greenbacks," or sold within Memphis at fifteen. Even at this great depreciation it is worth more in the enemy's country than our own; for, taking these rates of exchange, everything can be purchased cheaper than in the South, notwithstanding all merchandize has advanced 150 per cent. at the North. The restrictions upon the trade here are great — only one thousand dollars' worth of goods being permitted at a time to each firm, upon which five per cent. is taxed.

The Yankee officers who are quartered in the city occupy houses from which Southerners have been driven forth. It is an ordinary occurrence for a family to receive notice to evacuate their homestead at once, leaving behind their furniture and everything but wearing apparel, whereupon a Yankee woman will be duly installed to start a boarding house.

The streets of Memphis are crowded and a very large amount of business is transacted. From fifty to two hundred bales of cotton works its way into the city daily, and is usually shipped at once northwards. The division of Hurlburt's corps, which has been stationed here ever since the fall of Vicksburg, has been withdrawn and sent to Chattanooga, and but a depleted regiment numbering less than 500 remains, together with a regiment of blacks who are kept within Fort Pickering, a fortification upon the banks of the river below the city. But a single gunboat usually remains opposite the city, where it is retained to prevent our guerillas on the Arkansas shore from attacking the boats on the river and even crossing over to the city itself when weakly garrisoned. A spirited dash of our forces under Lee or Forrest into the town might prove of much service, as the few troops here would be driven into Fort Pickering and the three large Government storehouses upon the levee, together with the steamboats, might be destroyed, and a valuable lot of spoils secured, which would serve to clothe the entire command, besides giving them a Christmas or New Year's dinner upon many a luxury which they have long been strangers to.

The burning of so many boats has made river transit very unsafe, and caused the arrest of many persons supposed to be rebel emissaries believed to have been engaged in it. There has been great supineness and lack of energy on the part of the Confederate Government, or the entire shipping of the river might have been destroyed; while now boats leave daily and reach New Orleans in safety. Not a battery of Confederate artillery on the river banks from Memphis to New Orleans to stop supplies and troops from going to the mouth of the Mississippi and back!

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