Mr. Underwood to Mr. Seward.

No. 6.]

Sir: I have just been informed of a new way “to raise the wind,” adopted by the confederate government, and now in full tide of experiment here and in England.

Certificates or obligations promising to pay or deliver a certain quantity of cotton at any of the confederate ports to the holder or bearer, at a price according to its quality, fixed in the certificate or obligation, are issued by the confederate government, and sent out here for sale. They are presented, before being placed on the market, to Mr. Mason, who certifies to their genuineness and legality. Appropriate blanks are filled up, according to the quantity and quality of the cotton to be furnished and the price paid, and which price is about fivepence per pound. And the party thus acquiring and holding one of these obligations has the right to demand, at any time when presented at any of their ports, cotton corresponding with the quality described.

[Page 1332]

I do not vouch for the accuracy of this statement; it is, however, furnished me by a gentleman of high character and intelligence as true.

I have the honor to be, your most obedient servant,

W. L. UNDERWOOD, United States Consul.

Hon. William H. Seward, Secretary of State.