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News of the Day

March 31, 1863, The Charleston Mercury

Reports reached the city last evening, by the Savannah train, to the effect that, on Sunday afternoon, two regiments of the enemy landed upon John’s Island and drove in our pickets. In the skirmishing which ensured, three of the enemy are said to have been made prisoners. It is also stated that the Yankees have landed a force upon Seabrook’s Island, about twelve miles from Adams’ Run.

In consequence of these movements, Gen. HAGOOD has ordered all the ladies away from Adams’ Run.

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News of the Day
1860s newsprint

March 31, 1863, Nashville Dispatch

Before the Chief of Army Police, Nashville, March 30, 1863.– . . .

Mrs. John Trainor was arrested under a charge of being associated with her husband in his extensive smuggling operations.She was arrested in Louisville, Ky., and brought to this place.

C. Tavel, a druggist of Louisville, Ky., was arrested in that city and brought to this place, charged with selling Mrs. Trainor a large quantity of medicines to be smuggled South.Tavel admits that he sold Mrs. Trainor one thousand ounces of quinine and two hundred pounds of opium, believing that it was to be thus disposed of, for the sum of six thousand four hundred dollars.The investigation of the Trainor case is developing a most extensive system of fraud and treason.

E. R. Davis, of company D, of the “Anderson Troop,” and Charles Springer were arrested at Louisville and brought to this city, charged with being connected with the Trainor smuggling operations.After the taking of testimony Springer was discharged.

Joseph Winburn and Milton Kellogg, were arrested under a charge of aiding John Trainor in smuggling.Winburn was paroled for the present.

Dr. Chas. H. Dubois and Mrs. M. E. Trousdell were arrested at the City Hotel charged with aiding John Trainor in smuggling.They are ordered to be sent to Alton, Ill.

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News of the Day
1860s newsprint

March 31, 1863, Weekly Columbus Enquirer (Georgia)

Fifteen or twenty women, the leader of whom carried a revolver, in Atlanta, on Wednesday, went around to a number of grocery stores, seizing bacon, meal and vegetables, paying such prices as they thought proper. They were dispersed by the police. The Confederacy says the women were only imitating the examples set them by Government officials.

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News of the Day

March 31, 1863, The New York Herald

UNITED STATES SLOOP-OF-WAR RICHMOND, OFF PROPHET ISLAND, MISSISSIPPI RIVER, March 15, 1863.

Port Hudson, the rebel stronghold on the Mississippi, was attacked by the Union fleet, under command of Admiral Farragut, last night. The result was a partial success, as the flagship Hartford and the gunboat Albatross succeeded in getting past the batteries, and are now, in all probability, blockading the entrance to Red river. The Richmond, Genesee, Monongahela, Kineo and Sachern had to return, for reasons that will be fully stated in this letter. It was not intended that the vessels should pass. Among the casualties is the total loss by fire of the sloop-of-war Mississippi. But let me begin at the beginning.

WHAT WAS LONG EXPECTED.

For some months past rumors have been prevalent in New Orleans, among Unionists and secessionists alike, of an intention to make a combined attack both by land and by water on the rebel stronghold of Fort Hudson. The reoccupation of Baton Rouge by a portion of the forces under Major General Banks, on that officer’s taking command of the department, coupled with the advance of General Weitzel’s brigade to Berwick Bay, together with certain movements of the squadron, seemed to give form and consistency to the supposition. The general demand of the people of the West, too, for the reopening of their great water highway for the transportation of their produce to the usual markets, and the absolute necessity for the removal of all obstacles to a traffic on which the prosperity of the United States mainly depends, strengthened the belief that an expedition on a large scale would be fitted out at as early a period as possible, after the rising of the river, to destroy the blockade that has been so long maintained at Vicksburg, and for a shorter period at Port Hudson, and, by cutting off all communication by way of the Red river, and depriving the rebels of the [continue reading…]

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“The thread by which I hold my life is brittle, indeed, and may be severed any day.”–Letters from Elisha Franklin Paxton.

Elisha Franklin Paxton – Letters from camp and field while an officer in the Confederate Army

Camp Winder, March 31, 1863.

You will have, in your troubles on the farm, much to try your patience. My advice to you is to bear it all in good temper, to know all that is going on; and by devoting your mind to it you will find that you succeed much better than you anticipate. There is no work so profitable in one’s business as thinking about it. I have always found that when I was interested in what I had on hand, and thought much about it, that I found some good and easy plan of accomplishing what I wanted to do. I have, as you know, short as my life has been, followed all sorts of trades. I have been lawyer, banker, farmer, soldier, etc., and any success which I have met with I ascribe to the thinking which I have devoted to the business. You, I doubt not, have found the same about your housekeeping. Now apply this to the farm, and you will have an easy time.

Whilst I value your love as the best treasure which I have on earth, I would not have you harass yourself with a painful anxiety about my fate. The thread by which I hold my life is brittle, indeed, and may be severed any day. I have thought much of it, and think that I feel content to accept whatever fate God’s justice and mercy has in store for me; and my prayer is that he will give me such faith, repentance and conformity to the law of his holy Gospel as is required of the sinner. I feel that I can say, “If it be possible, let this cup pass from me; but thy will be done.” Sooner or later I must drink it, and if it be God’s will that it be now, I am content. Sooner or later I must die, and, if prepared to die, my life can never be given to such a cause as that in which it is now staked. I may survive the dangers before me; many thousands will. If such be the will of God, I trust that his law may be the guide in what remains for me of life. Sooner or later, darling, the ties which bind me to you and the children of our home must be severed forever. If I be the first to go, and the charge devolve upon you, teach them, as the experience of their father’s life, that there is no honor on this earth save in the path which God’s Word points out for the humble and contrite Christian. Outside of this there is no success in life, no wealth or distinction which does not bring wretchedness as the reward for the labor which it costs. Perhaps there may be many years of happiness in store for us, dark and bloody as the future may seem. May God in his mercy end the struggle!

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Robert M. McGill

Robert M. Magill – Personal Reminiscences of a Confederate Soldier Boy, 39th Georgia Regiment of Infantry

Monday, 30th.—I am detailed to go to Warrenton on fatigue duty to remain five days.


(Note: picture is of an unidentified Confederate soldier.)

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Cruise of the U.S. Flag-Ship Hartford -Wm. C. Holton

March 30th. To-day we have been taking in provisions that were sent down to us from the upper fleet; it was sent to us in the same manner that our coal was a few days ago–a large lighter filled, and then sent drifting down with the current at night. The gunboat Albatross, which is kept in readiness at all times, was notified to keep a bright lookout ahead, and when an object which answered to the appearance of a scow or lighter made its appearance, it was to steam up alongside and make fast and tow it in; in this way we receive our provisions; attempt was made by the enemy to destroy the barge while passing their batteries, but it was no go. The day has been very pleasant and clear, although quite chilly.

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Downing’s Civil War Diary.–Alexander G. Downing.

Diary of Alexander G. Downing; Company E, Eleventh Iowa Infantry

 

Monday, 30th–A cool wind again today. Several boats loaded with troops went down the river today bound for the vicinity of Vicksburg. I am in hopes that they will do something.

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War Diary of Luman Harris Tenney.

War Diary of Luman Harris Tenney.

30th. After issuing the bread and beef went to Columbus with Chester. It was a delightful ride, the air so mild and warm. Went to the Blind Asylum to see about a collar. Went to a bookstore and bought “Les Miserables.” Got back about 5. Studied and recited lesson in evening. After recitation wrote to Lucy Randall. I pity the poor girl. She has the dark side of life.

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A Rebel War Clerk’s Diary

Civil War Day-by-Day
A likeness of Jones when he was editor and majority owner of the Daily Madisonian during President John Tyler’s administration.

MARCH 30th.—Gen. Bragg dispatches the government that Gen. Forrest has captured 800 prisoners in Tennessee, and several thousand of our men are making a successful raid in Kentucky.

Gen. Whiting makes urgent calls for reinforcements at Wilmington, and cannot be supplied with many.

Gen. Lee announces to the War Department that the spring campaign is now open, and his army may be in motion any day.

Col. Godwin (of King and Queen County) is here trying to prevail on the Secretary of War to put a stop to the blockade-runners, Jews, and spies, daily passing through his lines with passports from Gens. Elzey and Winder. He says the persons engaged in this illicit traffic are all extortioners and spies, and $50,000 worth of goods from the enemy’s country pass daily.

Col. Lay still repudiates Judge Meredith’s decision in his instructions to the Commandants of Camps of Instruction. Well, if we have a superabundance of fighting men in the field, the foreign-born denizens and Marylanders can remain at home and make money while the country that protects them is harried by the invader.

The gaunt form of wretched famine still approaches with rapid strides. Meal is now selling at $12 per bushel, and potatoes at $16. Meats have almost disappeared from the market, and none but the opulent can afford to pay $3.50 per pound for butter. Greens, however, of various kinds, are coming in; and as the season advances, we may expect a diminution of prices. It is strange that on the 30th of March, even in the “sunny South,” the fruit-trees are as bare of blossoms and foliage as at mid-winter. We shall have fire until the middle of May,rebel-war-clerksix months of winter!

I am spading up my little garden, and hope to raise a few vegetables to eke out a miserable subsistence for my family. My daughter Ann reads Shakspeare to me o’ nights, which saves my eyes.

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News of the Day

March 30, 1863, The Charleston Mercury

We regret to learn that considerable inconvenience has been felt by the North Carolina troops now on this coast, owing to the refusal of the people, in many instances, to receive North Carolina State currency in payment for purchases. The reluctance to take this kind of money is, of course, due solely to the fact that it has never hitherto circulated here, and is, consequently, unfamiliar to the mass of our population. In point of fact, the North Carolina notes are fully as good as any money now in circulation, and the credit of that staunch old State stands quite as high as that of any other member of the Confederacy. We hope, therefore, that a more accommodating spirit may be manifested hereafter by the people of this State, and that the gallant sons of North Carolina, who are here to repel the invader from our homes, may have no further cause for complaint in this respect.

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News of the Day

March 30, 1863, The New York Herald

A despatch from Fortress Monroe states that the rebels, with a force of infantry and cavalry, yesterday morning attacked Williamsburg and were repulsed by the Fifth Pennsylvania cavalry under Colonel Lewis. The loss is not reported. It was stated by an officer who came into Norfolk yesterday from the rebel army, that the troops are evacuating Richmond as rapidly and as quietly as they can; but not much credit is attached to the report.

The rebels made another attack a few days ago on Winfield, N.C., on the Chowan river. They were met by a small body of the North Carolina Volunteers, under Lieutenant McClane, who defended themselves bravely in a blockhouse for an hour and a half, and drove the rebels off. General Foster came up from Plymouth with three companies, and four companies of the Eleventh Pennsylvania cavalry were sent from Suffolk by General Peck. Colonel Brown succeeded in crossing the Chowan river with part of his force. The remainder were attacked near Edenton, and dispersed after a short resistance. Our troops are hunting the enemy up in the swamps.

With regard to matters in the West, we learn that two divisions of rebel infantry crossed the Cumberland on Friday, at Stagg’s ferry, near Wailsburg, Pulaski county. Frankfort and Lexington have been placed under martial law.

We are informed on the authority of Parson Brownlow, who has just arrived at Cincinnati from Tennessee, that the rebels are concentrating all their infantry, who were formerly in East Tennessee, at Tullahoma; that reinforcements from Virginia are coming up, and that their cavalry are making a diversion into the eastern part of Kentucky, with the intention of [continue reading…]

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News of the Day

March 30, 1863, The Charleston Mercury

(The following despatch gives some further details of the intelligence published in our issue of last Thursday morning.)

VICKSBURG, March 25. – At five o’clock this morning four Yankee gunboats were seen advancing towards our upper batteries. A vigorous fire was opened upon them, driving two of them back. The other two passed under a concentrated fire, almost every shot taking effect. One of the boats received a shot in her steam chest, compelling her crew to abandon her. In fifteen minutes she filled and sank. Part of the crew escaped to the opposite shore. The boat that succeeded in getting past our batteries is supposed to be the Benton. She was badly crippled. One of our shots penetrated her steam drum, disabling her, so that the Albatross had to come up from below to tow her out of danger of our gunboats.

(Official Despatch)

JACKSON, MARCH 25. – To General S. Cooper, Adjutant General: The following telegram was received this morning from General STEVENSON: ‘Four boats came to the turn at sunrise; two attempted to pass; one was sunk with all on board, the other lies at the mouth of the canal apparently disabled. (Signed)J.C. PEMBERTON,

‘Lieutenant General Commanding.’

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News of the Day

March 30, 1863, Tri-Weekly Telegraph (Houston, Texas)

 It is thought by some that goods are lower in this city than they have been. We cannot see it in making purchases. Some lots of inferior unseasonable and damaged goods have been sold at a low figure, but damaged goods are not the market by any means. There is a good supply of merchandize in Houston now, some of it being old Galveston stocks that have been boxed up ever since the war began till now, and other having been brought from Mexico. Goods may be lower than they have been, but we will guarantee that whoever buys them will not do it because they are cheap, for the present at least. And we can assure owners of goods at Matamoros that they can find no better market in Texas to consign them to than Houston. There is plenty of demand for all that will come and at tremendous profits. When flax thread is $18 per lb., imperials $1.75@$2.00 per yard, printing paper $50 per ream, linseed oil $20 per gallon, and alcohol $30, and everything else in proportion, there is nothing to be lost in bringing them to this market.

 

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Robert M. McGill

Robert M. Magill – Personal Reminiscences of a Confederate Soldier Boy, 39th Georgia Regiment of Infantry

Sunday, 29th.—Very hard storm of wind and rain last night; Steamboat “Vicksburg” broke loose and went off down the river. Regiment on guard in town; went back to camp and found almost every tent blown down.


(Note: picture is of an unidentified Confederate soldier.)

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Cruise of the U.S. Flag-Ship Hartford -Wm. C. Holton

March 29th. Last evening at eight o’clock a severe storm set in, the wind blew very heavy; it rained, thundered and lightened exceeding anything I have ever seen before; at eleven o’clock we were obliged to let go our port anchor, as it was discovered that the ship was dragging. Half of the ship’s company were kept stationed at their guns, to be ready in case of any emergency, while the balance of the men were below sleeping in their hammocks; the night was dreadful. At one A. M. an object was seen moving down the river; it was reported by the lookout forward; the rattle was immediately sprung, calling all hands to quarters; those who were below in their hammocks were suddenly aroused from their slumbers, “and such a getting up stairs you never did see.” The object drifted down with the current until opposite our ship, and here it fetched up on the left bank of the river, which is, of course, the secesh side. Great excitement prevailed—the night being so very dark and stormy, it was feared that it might be one of the enemy’s boats stealing its way down to make an attack upon us. It is a mistaken idea of theirs, if they think they will catch us napping; however, this mysterious object, after the elapse of half an hour or so, was made out to be a steamer of some kind. We did not fire, although every gun was primed and ready, and every lock-string held taut, only waiting for the word of command to fire, but it was not deemed necessary, and one watch was sent below to turn in, while the other watch remained on deck at their guns, keeping a bright lookout for the enemy. At three o’clock the storm cleared up, the wind was still blowing very heavily, however; at daylight, this morning, the weather was quite clear, although very chilly. By this time we were informed that the mysterious object which caused so much excitement last night, was no less than the steamer Vicksburg, which had been tied up to the wharf, under the batteries of Vicksburg, for a long time. It is quite evident that she broke loose from her moorings in consequence of the heavy storm which prevailed. This afternoon, two of our boats’ crews were dispatched to board her; they returned, stating that she was a mere hulk, no machinery in her whatever; each of the men brought off something as a trophy, such as blankets, old boots, and a few old pictures, also half a dozen good muskets.

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Downing’s Civil War Diary.–Alexander G. Downing.

Diary of Alexander G. Downing; Company E, Eleventh Iowa Infantry

Sunday, 29th–We had a heavy rainstorm last night, blowing down several tents. Today it is quite rainy with a cool wind blowing. Being off duty today I remained in camp and read through the Book of Psalms.

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War Diary of Luman Harris Tenney.

War Diary of Luman Harris Tenney.

29th. After breakfast cleaned up and changed my clothes. Thede brought a note from home through Tully. Got a lesson and recited to Capt. N. Our new Chaplain, Brown, has been very busy visiting the companies. Hope he may do much good. How we need some religious influence. I long for a closer walk with God. Read Independent and “Guide to the Savior.”

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Diary of David L. Day.

David L Day – My diary of rambles with the 25th Mass
The following diary entry contains wording that is offensive to many in the world of today. However, the entry is provided unedited for its historical content and context.

Church Service.

March 29. Church service today for the first time in several weeks; we occupied the Methodist church. Chaplain James discoursed on neutrality. He said there could be no such thing as neutrality; a man must be one thing or the other, and those who do not declare for the government, should be treated as its enemies. The house was well filled with soldiers and the galleries running around three sides of the house were filled with darkies, who somewhat resembled an approaching thunder squall.

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Diary of a Southern Refugee, Judith White McGuire.

Diary of a Southern Refugee During the War by Judith White McGuire

Sunday Night.—Very sweet services in our little church to-day. The subject of the sermon was, “Woe to them who are at ease in Zion.” Mr. found a note on the pulpit from a Georgia soldier, asking the prayers of the congregation for himself and his family at home. The extemporaneous prayer after the sermon, offered for him, was most earnestly and tearfully joined in by all.

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“’Tisn’t safe to go three miles from camp now, although 100 men can go 40 miles in any direction safely.”–Army Life of an Illinois Soldier, Charles Wright Wills.

Civil War Day-by-Day

Camp at Lagrange, Tenn.,
March 29, 1863.

All perfectly quiet except the regular picket firing every night which here exceeds anything I ever before met in my experience. ‘Tis singular, too, for we have a large force of cavalry here and I should think the rascals would hardly dare to venture so near them. A few days since three guerrillas came up to one of our cavalry pickets, and while he was examining one of their passes the others watching their chance gobbled him. They at once retreated. The sergeant of the picket heard a little noise on the post and just got there in time to see the secesh disappear. He raised the alarm, and a party followed them on the run for 15 miles, rescued our man, killed three and captured four of the rascals, Yesterday some of Richardson’s men displaced a rail on the track ten miles west of this place, and captured a train. They got away with their prisoners, but hadn’t time to destroy the cars. ‘Tisn’t safe to go three miles from camp now, although 100 men can go 40 miles in any direction safely. Do you hear of any deserters returning under the President’s proclamation? I hope to the Lord that my black sheep won’t come back. A letter came for him to-day, and I opened it. ‘Twas from his father advising him to get out of this “Abolishun” war as quickly as he could. His “Pa and Ma” are welcome to him. Generals Sullivan, Denver and Hamilton have all left this country within the last few days, for Vicksburg. General Smith commands our division now. We are now in the 2d Brigade, 1st Division, 16th Army Corps. The colonel of the 6th Iowa is the ranking officer in the brigade but he is now sick, so Colonel Wolcott of the 46th Ohio now runs. Two captains of the 46th Ohio, and myself have been constituted by Smith a “Board of Survey,” to appraise damages committed by our army in the property of loyal citizens here. I think he has just done it to get the citizens off his hands. Have no idea that they will ever be allowed anything for their losses. There were three bills, each over $2,500, sent in to us yesterday. I hope the general will allow us to drop the business this week; if he will not, however, we can be kept busy for almost any length of time. By Smith’s orders the reveille is sounded now at 4 o’clock a.m. and the men appear with arms and accoutrements, and form line of battle. This is to avoid any bad consequnces which follow a Rebel cavalry dash at daylight, if we should be found in our tents. I think ’tis an excellent policy to be always ready for the enemy, but I declare I dislike this early rising very much.

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A Rebel War Clerk’s Diary

Civil War Day-by-Day
A likeness of Jones when he was editor and majority owner of the Daily Madisonian during President John Tyler’s administration.

MARCH 29th.—No news. Yet a universal expectation. What is expected is not clearly defined. Those who are making money rapidly no doubt desire a prolongation of the war, irrespective of political consequences. But the people, the majority in the United States, seem to have lost their power. And their representatives in Congress are completely subordinated by the Executive, and rendered subservient to his will. President Lincoln can have any measure adopted or any measure defeated, at pleasure. Such is the irresistible power of enormous executive patronage. He may extend the sessions or terminate them, and so, all power, for the time being, reposes in the hands of the President.

A day of reckoning will come, for the people of the United States will resume the powers of which the war has temporarily dispossessed them, or else there will be disruptions, and civil war will submerge the earth in blood. The time has not arrived, or else the right men have not arisen, for the establishment of despotisms.

Everything depends upon the issues of the present campaign, and upon them it may be bootless to speculate. No one may foretell the fortunes of war—I mean where victory will ultimately perch in this frightful struggle. We are environed and invaded by not less than 600,000 men in arms, and we have not in the field more than 250,000 to oppose them. But we have the advantage of occupying the interior position, always affording superior facilities for concentration. Besides, our men must prevail in combat, or lose their property, country, freedom, everything,—at least this is their conviction. On the other hand, the enemy, in yielding the contest, may retire into their own country, and possess everything they enjoyed before the war began. Hence it may be confidently believed that in all the battles of this spring, when the numbers are nearly equal, the Confederates will be the victors, and even when the enemy have superior numbers, the armies of the South will fight with Roman desperation. The conflict will be appalling and sanguinary beyond example, provided the invader stand up to it. That much is certain. And if our armies are overthrown, we may be no nearer peace than before. The paper money would be valueless, and the large fortunes accumulated by the speculators, turning to dust and ashes on their lips, might engender a new exasperation, resulting in a regenerated patriotism and a universal determination to achieve independence or die in the attempt.

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News of the Day

March 29, 1863, The New York Herald

By the arrival of the Anglo-rebel prize steamer Peterhoff at this port from Port Royal yesterday, we have the important information that on the 23d inst. all the Union troops at that point were embarked on a number of transports – their destination, of course, not being made public. The Union iron-clads had left Port Royal the previous day, and the Peterhoff while on her way, abut eighteen miles off Charleston, at night, saw the flashes of guns and shells bursting in that vicinity. These demonstrations probably were made by the iron-clads reconnoitering and securing a position to protect the landing of the troops, which were following in the transports. Our news from Charleston via Richmond is to the 25th, and does not mention any attack as taking place on Charleston at that date. That it cannot be far distant, however, is now morally certain.

We have some exciting news from the Southwest. Despatches from Cairo yesterday state that our forces are within one and a quarter miles of Haines’ Bluff, on the Yazoo, and have landed at Eagle Bend. A despatch from Vicksburg says that two of our gunboats attempted to pass down the river on the morning of the 25th, and that one of them was sunk and the other badly damaged by the fire of the rebel batteries. The same intelligence reached Richmond from rebel official sources at Jackson, Miss. A despatch from Mobile says that three of our gunboats were destroyed by the rebel batteries at the junction of the Sunflower river and Deep Creek, and the balance driven back, on Saturday last.

From Kansas City we learn that the steamer Sam Getty, while passing Sibley’s landing, on her way from Independence, was boarded by a force of guerillas, who killed five infantry soldiers, fifty cavalry and twenty negroes, and robbed all the passengers of their property, at the same time throwing overboard one hundred sacks of flour and a number of government wagons.

Several paymasters arrived at Fortress Monroe yesterday with money to pay off our troops at Suffolk, Norfolk, and [continue reading…]

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News of the Day
1860s newsprint

March 29, 1863, Mobile Register And Advertiser

(From the Rebel.)

A is for Anderson, foremost and least,
B is for Bethel, or Butler the Beast;
C is for Chase, and also for Cheat;
D is for Darkies, Disaster, Defeat;
E is for Eagle, transformed to a crow;
F is the Flag spreading ruin and woe;
G is for Gibbet on which we will hang;
H, Hunter the Hound and all of his gang;
I is the Infamy of which they are proud;
J Johnson the Jackall, the worst of the crowd;
K is their Kalendar of accident’s dire,
L is for Lincoln, the Long-Legged Liar;
M’s for McClellan, who Richmond would see,
N is for Never, when is it shall be;
O shows what Yankees will make by the war,
Q is for Query, “What is it all for?”
P which was passed, stands for Puppy and Pope,
R is for Rosecrans, Rascal and Rope;
S stands for Seward, well surnamed the Snake,
T, the Three months the Rebellion will take;
U’s for the Union of all that is base,
V for the Victories that never took place;
W for Winfield, whose victories great,
Xerxes-like ended in shameful defeat;
Y stands for Yankees, that self-esteemed nation,
Z is for Zero, their true valuation.

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News of the Day

March 29, 1863, The New York Herald

That there is, both at home and abroad, a healthy revival of public confidence in the stability of our government and the success of our efforts to crush the rebellion, must be evident even to those least observant of popular sentiment. We have had no great victories lately, and have, on the contrary, been subjected to numerous trifling but annoying reverses and delays; but still the revival of confidence is an acknowledged fact, and its cause must be found in a better appreciation of the power and resources of the American people, both on our own part and on the part of Europeans. We now begin to understand us. How this result has been achieved we shall not at present consider; but its influence upon our finances is a matter of the utmost importance and the sincerest congratulation.

Hitherto we have neither asked nor received any financial aid from Europe. The press of Europe has repeatedly warned capitalists not to invest in American securities. Now, however, we find all kinds of projects on foot among foreign bankers for the purchase of large quantities of our stocks, and by every steamer come orders from individuals in Europe to agents here to invest freely in United States bonds. This foreign demand for our securities has caused an average advance of seven per cent; and already foreign capitalists are calling upon us to offer a loan. At home the financial prospect is still brighter. The conversions of legal tender notes into five-twenty bonds, so long and so foolishly neglected, are now remarkably active. The subscription agent announces that one million two hundred thousand dollars were thus converted on Tuesday, two millions of dollars during the last two days, and five millions within the past ten days. These conversions will probably average over five hundred thousand dollars a day during the short time longer that they will be permitted. Assistant Treasurer Cisco is receiving money on deposit at five per cent interest. On Friday last he received a [continue reading…]

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