Mr. Seward to Mr. Adams.
Sir: In reviewing the late movement of General Hooker across the Rappahannock, all critics approve of the plan, and admit that it was reasonably expected to be successful. Thus far there is no intelligent agreement upon the cause of the failure. Certainly it was not for the want of men, material, or courage on the part of the army. The War Department will not fail of its duty in reorganizing and renewing this important portion of the campaign. Meantime it is consolatory to know that the losses and damages of the national army, especially when the relative conditions of the two parties are considered, are not disastrous, and that the result seems to have neither demoralized the troops nor discouraged the country. The intelligence from the valley of the Mississippi continues to be favorable thus far. Large portions of Louisiana and Mississippi have been reclaimed. The recent effective movements of our cavalry arm are giving us a surprise as pleasing and as full of promise as the naval successes with which the campaign of last year was opened.
You will not fail to notice the growing confidence of the public in the national finances. The sales of government stocks at par now reach the figure of ten millions weekly. In singular contrast with this improvement of the public credit, it is now discerned that the insurgents are actually driven to the importation of bread for their armies from Europe, through the hazards of the blockade. It is not easy to perceive how a purely agricultural country can long carry on a war when it has to import not only its material of war but its provisions, [Page 295] while it puts its governing population into the armies, and has continually to guard against the desertion or resistance of its laborers. It is obvious that this condition of things is becoming intolerable. The best negro laborers are now sold in Georgia at two thousand dollars each, insurrectionary currency, equal, it is supposed, to five hundred dollars national currency. Before the war their value was three times greater.
I am, sir, your obedient servant,
Charles Francis Adams, Esq., &c., &c., &c.