Mr. Adams to Mr. Seward.
Sir: I have to acknowledge the reception of despatches from the department, numbered from 1080 to 1083, inclusive, together with a private letter of the 6th instant, concerning Captain J. Wemyss Anderson, and the photographs of his painting.
The intelligence contained in No. 1080, which had been made known to the public through the ordinary channels prior to my reception of that despatch, produced the more effect from its following so quickly upon the high-wrought expectations formed from the accounts immediately preceding. The leading newspapers, in their over eagerness to announce the attainment of the much-desired object of the disruption of the Union, had confidently assumed as facts circumstances which rested on mere conjectures and misrepresentations of hired correspondents. The effect had been to send numbers of persons into the Stock market to purchase more or less of the rebel cotton loan, in the full belief that the near approach of peace, and of a separation, was about to insure its full and easy redemption. Under this pressure, the price rose to the highest point that it has reached since the fall of Vicksburg. The reaction consequent upon the later advices has been proportionably severe; a fall of ten per cent, within one week can scarcely fail to be attended by heavy losses to somebody. As a general rule, these fall to the share of simple, inexperienced people, who are misled by the representations of those presses in which they habitually put confidence. Most unfortunately, the London Times continues to enjoy that confidence in this country to a degree which, considering the repeated exposure of its errors, is to me very surprising.
There is little else to note in the events of the last week. A very elaborate effort appears to be making in this city to procure signatures to a form of address to the people of the United States in favor of peace, which has already found its way into the newspapers. Posters are affixed to the walls, calling attention to the subject, and exhorting people to come forward, whilst more systematic arrangements are resorted to for a personal canvass through the more populous lanes and alleys about the town. It is not possible to conduct such operations without a considerable outlay of money. Who furnishes this, whether the rebels [Page 308] themselves or their wealthy sympathizres on this side, I cannot undertake to say. I perceive that, in Liverpool, they are endeavoring to raise some means for the aid of the suffering poor in the south.
Meanwhile, the operations of the blockade runners are carried on most actively. I have just heard of a steamer about to sail from Limerick with a very valuable cargo of arms and clothing. Her name has not been given me, but I have taken the requisite measures to secure the transmission of the necessary information directly to you by this steamer.
I have the honor to be, sir, your obedient servant,
Hon. William H. Seward, Secretary of State, Washington, D. C.