Mr. Seward to Mr. Adams.
Sir: You are doubtlessly aware that for several weeks we have been suffering painful apprehensions lest by means of the subsiding of the waters in the Red river we might be obliged not merely to forego the effort to maintain our position on its banks, but even to leave our iron-clad fleet to be destroyed, or to fall into the hands of the insurgents. We have just now been relieved from these fears. An artificial rise of the river at the rapids above Alexandria was effected, and the fleet has safely descended to the Mississippi. The expedition of Major General Banks has failed, but the failure is believed not to have materially impaired our own strength, or given to the insurgents any new advantage. The return of the fleet and the land forces to the Mississippi reassures our control of the navigation of that great river.
We hear from Major General Sherman, who has taken Rome, and is at Kingston, that having there repaired the waste of his army, and renewed his supplies, he would move to-day, and resume his march upon Atlanta, with an army of 80,000 effective men.
Lieutenant General Grant had severe conflicts during the last week, by way of manoeuvre and reconnoissance. On Friday night the insurgents withdrew from their strongly intrenched position at Spottsylvania Court-house, retreating, as is supposed, across the North Anna river. The army of the Potomac was already on its advance, which of course was continued; and thus far there has been no serious conflict. Our position is now at Millford station, on the railroad [Page 28] from Fredericksburg to Richmond, and along the south side of the Matta-pony river. Rappahannock station was used as our depot for supplies at the beginning of the advance. Since the battles of the Wilderness we have used Fredericksburg. To-day we change our station from that place to Port Royal, on the Rappahannock.
Major General Butler has had some severe conflicts with the enemy, but he still holds his position on the south bank of the James, and to the extent that he succeeds in detaining the enemy’s force in his front, he contributes to the success of the main army of the Potomac in its advance upon Richmond. If we may rely upon the official reports of the operations of cavalry which reach us, the enemy’s connections are broken up beyond his ability to restore them before the event of the campaign must be determined.
General Sigel with a portion of his forces was defeated on the Shenandoah, but the loss incurred has been fully compensated by the successful operations of General Crook in another portion of western Virginia.
Congress is maturing the tax bill with great care, and I think in a form that will be effective to sustain the national credit. The bank bill is still a subject of serious debate, but it will ultimately assume a satisfactory shape. The importations are enormous, and the shipment of gold is increased by the high rates of interest adopted by the banks of England and France. Nevertheless, the government stocks are well sustained, and the new loan bearing five per cent, interest is taken up at the rate of four or five millions a week. The flood of immigration is on the increase. Ultimately the nation cannot fail to be the gainer that sends out its gold and receives in exchange free men from foreign countries to extract the metals from its mines, and to expand cultivation over newly reclaimed territories.
I am, sir, your obedient servant,
Charles Francis Adams, &c., &c., &c.