March 27, 1863, The Charleston Mercury
It is understood that Mr. DEBOW, the Confederate States Agent, has negotiated the purchase of between one hundred and fifty and one hundred and seventy-five thousand bales of cotton in Louisiana and Mississippi, at an average of about 12 cents. This is one-half of the late purchases of the Government in this cotton district. Four-fifths of this cotton, it may be fairly assumed, will be saved and materially strengthen our bonds in Europe. A large foreign credit is already predicated upon it, and the tangible results will soon be felt by the army and the navy. Agents are authorized to pay the market value of the cotton, which is ascertained by reference to what private parties are willing to pay.